Where to purchase the lowest premium Gold

[morezone]

They are indeed.  I couldn't wait until Thursday and just pulled the trigger on an Isle of Man Angel.  I've been looking to buy a 1/10 for a while but they only ever turn up in proof for £200 or so.  At £800 delivered for an oz one I couldn't resist.  Premiums are quite high for this coin.

[TheBullionBoy]

looks like you're right Dan, I copied this from another dealers small print, that's interesting and makes me want to start accumulating some.

 

 

Investment Silver Coin Bags

We can now supply modest quantities of investment silver coin bags.

These are made up of old silver coins, usually UK coins from the 1920 to 1946 period. These were composed of an alloy containing 50% pure silver. We can supply them in sealed 10 kilo bags. Each bag contains a minimum 10 kilos gross weight of silver coins, and therefore contains 5 kilos of pure silver. Most of these coins will be very worn, and have no collectors value. Because these are dealt with under the "secondhand" scheme, there is no VAT to pay on them * We can offer these investment bags at prices very close to the value of the intrinsic silver content.

 

I'm guessing it's Chards. Used to buy those bags of coins. Hardly ever available. Chards offer the global accounting scheme because they mainly deal with second hand collector coins. The likes of The Gold Bullion Co are not mainly second hand collector coin dealers. They are one of the most expensive dealers out there and much cheaper with better alternatives out there.

However adding VAT to second hand silver when you're not entltled to even join the margin scheme, is far from illegal. Dealers can charge VAT on investment Gold if they choose to, however obviously dealers don't. But they're perfectly in their right to do so.

[Danny-boy]

However adding VAT to second hand silver when you're not entltled to even join the margin scheme, is far from illegal. Dealers can charge VAT on investment Gold if they choose to, however obviously dealers don't. But they're perfectly in their right to do so.

See, I have been told by an accountant that it is illegal to charge VAT on something that is 0% VAT rated, like used silver and investment gold.

Maybe he's a rubbish accountant.

[TheBullionBoy]

See, I have been told by an accountant that it is illegal to charge VAT on something that is 0% VAT rated, like used silver and investment gold.

Maybe he's a rubbish accountant.

 

You can "opt to tax" investment Gold. It's on the HMRC website. Again, with the second hand silver, I'm not sure people are quite understanding the margin scheme.

He sounds like my accountant....before I sacked him.

 

If I'm not registered or entitled to charge VAT as an individual, then I can't charge VAT.

If I'm not registered or entitled to receive a pension at 30, then I can't get a pension.

If I'm not registered or entltiled to drive a car, fly a plane or hunt Pandas, then I can't drive cars, fly planes or hunt Pandas

If I'm not registered or entitled to ONLY charge VAT on the profit of second hand silver, then I can't use the scheme like those who ARE registered or entitled.

Simples! ......even though I still do what I want.

[Danny-boy]

Ha ha.

I don't pretend to understand the ins and outs of tax, but I'd imagine that charging full VAT on used silver (as some seem to do) and then not giving it to the tax man, is highly frowned upon, if not illegal.

I bet it happens, a lot.

[Danny-boy]

So BB, are you a vendor?

[TheBullionBoy]

So BB, are you a vendor?

 

I was the MD of quite a well known dealer (from 2010-2013) which has moved to other services now. Now I'm setting up businesses which make more profit than PM's.

I'm pretty sure ALL the VAT they charge goes straight to the taxman. It would be illegal otherwise which is why I bet it doesn't happen at all.

[Danny-boy]

Fair enough, you know way more than I do.

I just don't understand why somebody would charge VAT on something that is not VAT chargeable, as it's of no benefit (the opposite in fact) to their business.

As you are no longer the MD, can you tell us who it was (only out of interest).

It's very useful to have somebody that was in the profession on the forum.

[TheBullionBoy]

As you are no longer the MD, can you tell us who it was (only out of interest).

 

 

A quick search on companies house will give away my info and my home address can easily be found from that, so it wouldn't be too smart. Sorry DB Maybe one day I'll let you know off the forum.

[Danny-boy]

A quick search on companies house will give away my info and my home address can easily be found from that, so it wouldn't be too smart. Sorry DB Maybe one day I'll let you know off the forum.

Sorry BB, I didn't realise that.

I'll stop being nosey!!!!

Ha ha

[garthy]

Very low premium 1oz gold Britannia, decent priced sovereign too.

http://www.onlinebullion.co.uk/Buy-Gold-Coins/

[silversword]

Very low premium 1oz gold Britannia, decent priced sovereign too.

http://www.onlinebullion.co.uk/Buy-Gold-Coins/

 

So after postage costs they make about £3 profit on the Britannia?

 

[morezone]

Very low premium 1oz gold Britannia, decent priced sovereign too.

http://www.onlinebullion.co.uk/Buy-Gold-Coins/

Have you used them before?

[ChrisSilver]

Very low premium 1oz gold Britannia, decent priced sovereign too.

http://www.onlinebullion.co.uk/Buy-Gold-Coins/

Those prices are very good. I am wondering if these coins are actually brand new because their price seems to be better than HGM preowned.

Can anyone confirm if they have used this company before? Price seems to good to be true.

[arshimo2012]

I have used this company onlinebullion last year with no problems.But recently the feedback is not so good google search the company few bad feedback's. I don't think the price of the Britannia is updated

[garthy]

Yeah I've used them a couple of times with no problems, the prices seem to stay the same till they sell out, so they probably bought these when the spot price was lower.

[HighlandTiger]

I'd be very wary after reading this. I certainly wouldn't risk it.

 

http://www.webutations.info/go/review/onlinebullion.co.uk

[garthy]

Thanks for that HT, there's some terrible feedback there, I feel bad putting the link up now.

[HighlandTiger]

Thanks for that HT, there's some terrible feedback there, I feel bad putting the link up now.

Don't feel bad, we now know a bit more than we did. Someone could have found them and got caught out the same as those reviewers. You may have saved someone some serious cash.