Best way to buy 5kg silver bars UK

[AuricGoldfinger]

Hi so just joined the forum and recently started stacking gold sovereigns at a rate of 10 a month. Been looking into it for years and chose now as a good time to get in after building a successful property portfolio in the UK. Looking to diversify and have a store of wealth for the long term that is still liquid. I would also like to build up some silver - in the form of 5kg Bars - mostly due to storage and low premiums/closer to spot. My main issue is the VAT! Im sure this topics probably been covered plenty of times but after any advise and thoughts. Thanks in advance, AuricGoldfinger

[BackyardBullion]

https://goldsilver.be/en/coins/522-5-kilo-silver-bar-.html

This dealer is one we use a lot for our group orders and the silver is VAT free

Works out at about £460/kilo though so not the cheapest to spot value. 

[AuricGoldfinger]

Ah i see so its basically meeting you in the middle on the VAT inclusive price. I have looked on there but have been concerned that i will get stung with VAT once shipped to me but i guess no one has ever had this issue?

Thanks for your reply and big fan of your YouTube channel ?

[sixgun]

This is a bar coin - it is a coin - it is legal tender and so can be sold 'VAT free'.

[AuricGoldfinger]

In the UK dont we have to pay VAT on all silver whether its legal tender or not? ie silver britannias. Or would VAT normally apply on bars purchased outside of the UK but because its legal tender and a coin bar it doesn’t apply?

[HawkHybrid]

I think the coin bars are similar to legal tender coins bought

in the eu in that they already have the vat included in the

price shown. so vat is already paid.

 

HH

[BackyardBullion]

19 minutes ago, AuricGoldfinger said:

In the UK dont we have to pay VAT on all silver whether its legal tender or not? ie silver britannias. Or would VAT normally apply on bars purchased outside of the UK but because its legal tender and a coin bar it doesn’t apply?

As long as you pay the local rate of VAT (which for this coin bar is part of the VAT reduction scheme) then no 20% VAT is applicable when you import to the UK. 

For now anyway, Brexit will change this or make it a arseache to do

[AuricGoldfinger]

6 minutes ago, BackyardBullion said:

As long as you pay the local rate of VAT (which for this coin bar is part of the VAT reduction scheme) then no 20% VAT is applicable when you import to the UK. 

For now anyway, Brexit will change this or make it a arseache to do

Ahhhh that makes sense now! Iv always had a worry that its basically dodgey and there is no such thing dodging the UK VAT legally. Thanks guys that’s very helpful. What are thoughts on 5KG bars is it generally accepted that 1KG are better as easier to shift?

[BackyardBullion]

9 minutes ago, AuricGoldfinger said:

Ahhhh that makes sense now! Iv always had a worry that its basically dodgey and there is no such thing dodging the UK VAT legally. Thanks guys that’s very helpful. What are thoughts on 5KG bars is it generally accepted that 1KG are better as easier to shift?

It is just one of the many benefits that we will lose out on post Brexit - at least until a free trade deal is made.

The larger the bar, the more it will just be bullion and track spot price.

[StackerNoob]

Just going to put this out there, there is a 5kg umicore bar....

 

https://atkinsonsbullion.com/silver/silver-bars/5kg-silver-bars/umicore-5kg-silver-bar

 

You can probably get them cheaper than that, but lookit! Lookit!

[AuricGoldfinger]

8 minutes ago, StackerNoob said:

Just going to put this out there, there is a 5kg umicore bar....

 

https://atkinsonsbullion.com/silver/silver-bars/5kg-silver-bars/umicore-5kg-silver-bar

 

You can probably get them cheaper than that, but lookit! Lookit!

Haha that is exactly what i would like - its just what you expect a 5KG bar to look like. BUT head has to rule over heart and i think things like that it all comes down to the best price....i keep telling myself....but yes LOOK AT IT!

[StackerNoob]

2 minutes ago, AuricGoldfinger said:

Haha that is exactly what i would like - its just what you expect a 5KG bar to look like. BUT head has to rule over heart and i think things like that it all comes down to the best price....i keep telling myself....but yes LOOK AT IT!

If I ever get the money and the guts together, I will be buying myself one to complete my umicore collection. I already have the 250 g, 500 g and 1 kg bars and they are by far my favourite pieces. Look at them!

[AuricGoldfinger]

Do you mind if i ask where you have purchased yours from? I do like the umicore bars. Did you just swallow the VAT on those? I am half tempted to go umicore when i do buy as i think it does help massively to actually LIKE what you are buying and i guess if i sell privately then i can just pass the VAT inclusive price on or at least be somewhere near! And yes LOOK AT THEM lol

[Bullionaire]

36 minutes ago, StackerNoob said:

Just going to put this out there, there is a 5kg umicore bar....

 

https://atkinsonsbullion.com/silver/silver-bars/5kg-silver-bars/umicore-5kg-silver-bar

 

You can probably get them cheaper than that, but lookit! Lookit!

Just as a big silver bar should look. None of this weird long-ness like the cook island one above

[BackyardBullion]

38 minutes ago, StackerNoob said:

Just going to put this out there, there is a 5kg umicore bar....

 

https://atkinsonsbullion.com/silver/silver-bars/5kg-silver-bars/umicore-5kg-silver-bar

 

You can probably get them cheaper than that, but lookit! Lookit!

If you buy that one then the jealousy between us will be equal ?

[AuricGoldfinger]

Yup i agree the cook island just looks wierd. I think the umicore is probably worth the £150 difference. From what ive seen the “VAT free silver” isnt like 20% cheaper than the uk its more like 10% cheaper which is great if its what your after but those umicore ones seem to be the most popular which i assume will make it more saleable if its sold privately. Hoping silver may drop some more if it does i may need to divert from the sovs for one month and pick one of these up! If i do i will show and tell either on here or i have seen most of you guys on YouTube so might actually do a video....maybe!

[Stu]

Arshi,  local reseller and forum legend has had 1kg bars on sale at very reasonable prices as always on the forum. Get yourself premium membership and you will see the best deals straight away. 

[GoldenDuck]

You might also want to consider the 100oz bars, there are a few varieties around, maybe put up a request in for sale/wanted and see what folks are prepared to sell?

[Bullionbilly]

9 hours ago, Stu said:

Arshi,  local reseller and forum legend has had 1kg bars on sale at very reasonable prices as always on the forum. Get yourself premium membership and you will see the best deals straight away. 

As stu says, drop @arshimo2012 a message .

He probably has the 5kg you want wedging open a door ?? .

He's a 100 % trusted seller and great guy to deal with !

 

 

 

[AuricGoldfinger]

Thanks guys i think I definitely will look into purchasing through the forum when im ready to pick up some silver, premium membership seems like the way forward! Thanks again to everyone who commented!

[Trumar]

Hello @AuricGoldfinger as it seems that money is no problem for you, why not look at collectible silver bars? Like engelhard and Johnson matthey both these makers are highly collectible and will keep going up in price. I can put you onto a Top buyer and seller in America, if you would like? Have a chat with him and he can explain everything about collectible silver bars. The man is a walking talking encyclopedia of collectible silver. 

[AuricGoldfinger]

Hi @Trumar thanks for your comment, To be honest im not as into the collectable PMs as i feel its more subject to what someone is willing to pay rather than what it’s actually worth so at least with just bullion if i need to offload it quickly i can. Really i want bullion close to spot. Perhaps once i become a bit more of an aficionado in PMs the more collectable or numismatic stuff will appeal to me. I think i need a foundation first and then il dabble in the more collectable stuff. Thanks again though for the suggestion i do really appreciate it

[Trumar]

No worries @AuricGoldfinger just thought I would let you know about collectible silver. You will have no problems on here, everyone one on here are Top guys to deal with. Also if you need any help, just ask if that person don’t know, they will know who does. I will let you get on. Happy stacking @AuricGoldfinger

[AuricGoldfinger]

Thanks @Trumar, i have found everyone to be really helpful. And also has helped me work out exactly what i want to do regarding stacking. Glad i joined the forum!

[Pipers]

17 hours ago, AuricGoldfinger said:

Hi @Trumar thanks for your comment, To be honest im not as into the collectable PMs as i feel its more subject to what someone is willing to pay rather than what it’s actually worth so at least with just bullion if i need to offload it quickly i can. Really i want bullion close to spot. Perhaps once i become a bit more of an aficionado in PMs the more collectable or numismatic stuff will appeal to me. I think i need a foundation first and then il dabble in the more collectable stuff. Thanks again though for the suggestion i do really appreciate it

You fit into the category of a Stacker, though why 5kg bars I do not know,. IMO pick up what is available at the time. 

Just one more thing, your gold buying puts you over £10,000 at two dealers if you only use 2 dealers over a year they HAVE to inform the tax man. It is up to you most are not bothered but some may use 5 or 6 dealers over a yesr.