Best way to buy Gold bars or coins?

sabretoothtigger

A bag of coins might have marks on them which I thought affected value or maybe thats just gold


If they are legal tender you could pay for your sunday newspaper with a gold sovereign, you wouldnt really want to as they are still only technically worth 1 pound but it'd be one hell of a tip

I thought it was a crime to destroy currency but their melt value is obviously higher


A bag of silver coins sounds an interesting investment but postage would be a pain

cloud_dog

mini_lidi wrote: »

what so i could invest in those?? or is it not a worth-while investment?

Mini, do you really want to physically hold your gold/silver investment?

Would you be happy with an investment fund which physically holds the bullion (as opposed to the majority of ETF's that are based on paper promises)?

Just to clarify..........

mini_lidi wrote: »

but then if i imported it into England i wouls stilll have to pay the VAT?

VAT is only payable on silver. If you only have small amounts of money to invest then there are plenty of small gold coins to fit your budget.

mini_lidi

I would prefere to physically hold my gold or silver and have a budget of £500-£1000, what would you recommened?

shaun_from_Africa

What I would like to know; is there any country in Europe (Andorra, Switzerland, Liechtenstein?) where you can buy physical silver in either bars or coins without paying VAT locally??

The best place for this is the Channel Islands.

There are a couple of places who advertise on ebay (they sell mostly canadian maples), and their price is a couple of £'s cheaper than elsewhere due to the lack of VAT.


If you are ever visiting Guernsey, there is the Guernsey mint to consider.
They hold very large stocks of silver bars, and sell at a very competitive price.

http://www.guernseymint.com/

I purchased a number of 1oz Krugers from them last year, and their premium was lower than any of the main UK dealers.

mini_lidi

ok so if i ordered some and got it delivered to my house, would i have to pay tax on the silver?

cloud_dog

Whilst silver has a monetary value and if gold continues to rise silver is thought likely to appreciate by a higher percentage, I would still be tempted (in your circumstances) to buy gold coin(s).

As you wish to hold it, there might be nothing nicer than actually holding a 1oz coin - If you're feeling patriotic a Britannia 1oz currently £683 + delivery (or a premium should you buy it from a local bullion dealer), or the US Eagle or Candian Maple Leaf.

If you wanted to round up the monies spent you could add 1/4oz Britannia or a Sovereign (between £155 - £170).

Shipping fees from coininvestdirect for that amount would be 15 Euros. I've never used coininvestdirect before but their prices look good and they have received a lot of positive feedback from posters on this thread.

Its really up to you.

jon3001

travellingbum wrote: »

I just discovered this when googling 'silver vat free'.

90% Silver Bags (0.900 Fine Silver)
[...]
These silver bags are VAT free in the EU and some other jurisdictions due to their legal tender status.

Bullion coins such as American Silver Eagles ($1 USD) and Canadian Silver Maples ($5 CAD) are also legal tender. However they are subject to VAT. There must be more to it...

mini_lidi

Now confused!

[Deleted User]

shaun_from_Africa wrote: »

What I would like to know; is there any country in Europe (Andorra, Switzerland, Liechtenstein?) where you can buy physical silver in either bars or coins without paying VAT locally??

The best place for this is the Channel Islands.

There are a couple of places who advertise on ebay (they sell mostly canadian maples), and their price is a couple of £'s cheaper than elsewhere due to the lack of VAT.


If you are ever visiting Guernsey, there is the Guernsey mint to consider.
They hold very large stocks of silver bars, and sell at a very competitive price.

http://www.guernseymint.com/

I purchased a number of 1oz Krugers from them last year, and their premium was lower than any of the main UK dealers.

If you trust above mentioned company, you can store you purchase of silver bullion in Guernsey and legally avoid paying VAT by storing it in the Channel Islands.
VAT on let's say 100 kilos of silver, is quite a lot of money.

Excerps from Guernsey mint:

"Most clients like to take physical delivery of their bullion but for investors that do not want to handle their precious metal purchases or wishing to purchase large amounts can for a nominal fee open an allocated insured segregated vault storage account in Guernsey.

Your bullion is insured with Lloyds of London and totally allocated to you it’s not carried as an asset on the storage companies books should they change ownership or close for any reason your bullion is safe and secure.
Your storage vault account will be with a third party independent security company that is neither owned nor affiliated with the Guernseymint Bullion Company; both companies are completely independent business.

Vault storage works by the client purchasing bullion from The Guernseymint and on your written instruction to the Mint your bullion is delivered free of charge to the Storage Vaults its then counted back in at the Vaults and signed for tagged and sealed in a container with your details.

You will be contacted by the storage company with the contract once this is done your bullion can be seen in person or removed in part or fully with 5 days notice to the storage company."

Hanks6

gold be expensive at the moment pirates!!!!