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PansPurse

Silver Premium Member
  • Content Count

    1,322
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    United Kingdom

Reputation Activity

  1. Like
    PansPurse reacted to BackyardBullion in Today I made.....   
    You know you are working hard when your blister....has a blister....

  2. Like
    PansPurse got a reaction from jonrms in Today I made.....   
    Last one for the weekend, some actual silver. Compare and contrast the latest one (left) with first one I made (right)

  3. Like
    PansPurse got a reaction from jonrms in Today I made.....   
    Really making progress in terms of shape and finish 😊


  4. Like
    PansPurse got a reaction from Groundup in Just a dirty 5p !   
    I concur the old reverses were lovely and brimming with history 😏
  5. Thanks
    PansPurse reacted to BackyardBullion in 250g Silver Forum Bars (2019)   
    You can indeed - we will get this sorted when the time comes 😊😉
  6. Super Like
    PansPurse got a reaction from BackyardBullion in 250g Silver Forum Bars (2019)   
    Ack late to the thread, can I go for last year's strategy of either 25 or the last bar that gets made?
  7. Thanks
    PansPurse got a reaction from Silvermedal in Coin Collection at Scrap Silver Price. 1.6kg Fine Silver Weight.   
    For reference (sadly beyond my current budget) spot value for this as reported would be £592.55
    Absolute bargain!
  8. Sad
    PansPurse reacted to BackyardBullion in The ridiculousness of doing business in the UK on eBay   
    I recently scored an awesome haul from my local post office - I got 190x "G" 10p coins in the alphabet series!
    Awesome stuff for sure. 
    But, doing business in the UK is apparently ridiculously hard and basically not worth the time.
    Makes me a bit fed up to be honest, that a market rate for a coin is X but that actually yields nothing for a business, especially one that is VAT registered. 
    Ebay says they go for £1.60 per coin, an incredible profit margin you might think....Until you realise the following:
    Sale Price: £1.60
    Cost of coin: 10p
    eBay sellers fees: 16p
    PayPal Fee's: 25p
    Postage: 83p (or 61p if you can work out how to get it flat enough for a regular letter) 
    VAT liability for £1.60 gross price: 27p
    Total costs: £1.61
    So you lose 1p
    Even if you make a profit on it you would pay 30% of those profits in Tax. 
    I know there are benefits and profits to be had for multiple listings and saving on aggregate postage costs - but seriously, it should not be this hard to do business in the UK 
    I am learning more and more that VAT is not truly a tax on customers - it is a tax on businesses. Customers are obviously happy to pay a market rate (inclusive of VAT) for items - which basically means that UK (and EU) businesses will be losing on that profit. 
    Sorry, ranting now - basically the UK sucks for small businesses wanting to grow. 
     
     

  9. Thanks
    PansPurse reacted to BackyardBullion in We are sorry....Group Orders are no more blame VAT registration!!!   
    You make very valid points. 
    The unboxing videos alone are a clear way we benefit.
    These are the same points my accountant made today.
    I'm afraid that for the time being we will NOT be doing another group order.
    The decision comes down to the fact that it is an interpretation of the guidance and VAT laws. Our interpretation may be different to the inspector that audits me. 
    We don't want to end up in a tribunal and face countless legal bills and back VAT bills. 
    Even though the chance of this is low - it still puts us off.
    I will be addressing this decision in more detail in a video at a later date - but for the time being....
    We are sorry, no more group orders. 
    We are going to talk with the EU mint about how we can still support the silver forum buyers in perhaps the form of a shipping discount code.
    But from Mrs BYB and myself, we want to extend our apologies for no more group orders and out heartfelt thanks to everyone who has joined and supported the orders we have done in the past.
  10. Like
    PansPurse reacted to BackyardBullion in We are sorry....Group Orders are no more blame VAT registration!!!   
    The biggest issue is that I am a sole trader, so it is me, my person, not the entity and business that is VAT registered. So in theory anything I do could be part of the business - especially as we are buying coins which is similar to my business. 
    I always viewed it as a collective buying group before, separate to the business. But when the VAT man has his eye on you and you need to do compliance checks and inspections it is not worth the risk. 
  11. Thanks
    PansPurse reacted to BackyardBullion in We are sorry....Group Orders are no more blame VAT registration!!!   
    Some of you may have noticed that I put up a thread about a possible next group order - it was actually a draft thread I was preparing and accidentally made it live. 
    I have subsequently taken it down. 
    We are in the process of doing some due diligence with our accountant about the group orders and how it might relate to our VAT registration. 
    It is an incredibly complex situation and I am sure you can all appreciate the significant financial liabilities that might occur from not following the rules. 
    So, for the time being please bare with us and sorry for getting your hopes up in that mistaken thread posting!
  12. Sad
    PansPurse reacted to BackyardBullion in I made a huge mistake - assay test failure!   
    Hi Pipers thanks for the feedback - that said, I completely disagree that this is bad form in any way shape or form - quite the opposite in fact and perhaps you would see that too if you knew all the facts of the situation and discussions had between myself and the customer!

    Added 0 minutes later... Quite possibly - but this whole process has just put me off gold for the foreseeable future.
  13. Like
    PansPurse got a reaction from Bullionaire in Taking The Plunge   
    Don't want to clog up the "Today I Made" thread do here's some more test pieces. Extra wide crown, 20 Euro Cent (photo doesn't do it justice) and Australian parliament House florin:

    Close up of the florin because it's turned out gorgeous:

  14. Like
    PansPurse got a reaction from harrygill111 in Taking The Plunge   
    Don't want to clog up the "Today I Made" thread do here's some more test pieces. Extra wide crown, 20 Euro Cent (photo doesn't do it justice) and Australian parliament House florin:

    Close up of the florin because it's turned out gorgeous:

  15. Like
    PansPurse got a reaction from mr1030 in Taking The Plunge   
    Don't want to clog up the "Today I Made" thread do here's some more test pieces. Extra wide crown, 20 Euro Cent (photo doesn't do it justice) and Australian parliament House florin:

    Close up of the florin because it's turned out gorgeous:

  16. Like
    PansPurse got a reaction from Gildeon in Taking The Plunge   
    Don't want to clog up the "Today I Made" thread do here's some more test pieces. Extra wide crown, 20 Euro Cent (photo doesn't do it justice) and Australian parliament House florin:

    Close up of the florin because it's turned out gorgeous:

  17. Thanks
    PansPurse reacted to Bullionbilly in Taking The Plunge   
    Congratulations on the plunge !
    Lovely work aswel !
  18. Like
    PansPurse got a reaction from mr-dead in Taking The Plunge   
    Welp, that's it. I've registered a hallmark with the assay office. I guess that means I've got to set up an etsy shop now, right?
  19. Like
    PansPurse got a reaction from 4thelongrun in Taking The Plunge   
    Don't want to clog up the "Today I Made" thread do here's some more test pieces. Extra wide crown, 20 Euro Cent (photo doesn't do it justice) and Australian parliament House florin:

    Close up of the florin because it's turned out gorgeous:

  20. Like
    PansPurse got a reaction from MickD in Taking The Plunge   
    Don't want to clog up the "Today I Made" thread do here's some more test pieces. Extra wide crown, 20 Euro Cent (photo doesn't do it justice) and Australian parliament House florin:

    Close up of the florin because it's turned out gorgeous:

  21. Like
    PansPurse got a reaction from CadmiumGreen in Taking The Plunge   
    Don't want to clog up the "Today I Made" thread do here's some more test pieces. Extra wide crown, 20 Euro Cent (photo doesn't do it justice) and Australian parliament House florin:

    Close up of the florin because it's turned out gorgeous:

  22. Like
    PansPurse got a reaction from DrKarlMoneys in Taking The Plunge   
    Welp, that's it. I've registered a hallmark with the assay office. I guess that means I've got to set up an etsy shop now, right?
  23. Like
    PansPurse got a reaction from JosephM in Taking The Plunge   
    Welp, that's it. I've registered a hallmark with the assay office. I guess that means I've got to set up an etsy shop now, right?
  24. Like
    PansPurse got a reaction from CadmiumGreen in Taking The Plunge   
    Welp, that's it. I've registered a hallmark with the assay office. I guess that means I've got to set up an etsy shop now, right?
  25. Like
    PansPurse got a reaction from Derv in Taking The Plunge   
    London, basically for the convenience of being able to take a trip into town and deliver by hand. Also they offer laser marking without having to pay for a punch which seems a bit of a bonus for my purposes