What if We Have a No Deal Brexit ?

[Jacko]

Just wondering what people's thoughts are on the likelihood of Brexit going ahead at the end of March. I'm no political junkie, but for anyone who is, do you think an extension of article 50 (if that's the right way of putting it) is likely, a possibility or all but off the table?

Secondly, in the event of Brexit going through on the planned date - deal or no deal - what do you think the future holds for buying silver? Is a trade agreement with Europe that allows a continuation of vat-free silver purchasing possible? Or how likely would a trade agreement with America (or some other county) be that makes silver buying economic?

On the above points I don't have any strong opinions, only questions, so keen to hear what others might think.

J.

[HelpingHands]

@Jacko merged your thread into here

[Guest]

14 hours ago, Jacko said:

Just wondering what people's thoughts are on the likelihood of Brexit going ahead at the end of March. I'm no political junkie, but for anyone who is, do you think an extension of article 50 (if that's the right way of putting it) is likely, a possibility or all but off the table?

 

An extension of article 50 is not unilateral. It'd have to be approved by the EU. This would lead to much confusion, as there are European elections in May. If there was an extension, the UK would have to be allowed to elect its representatives. Theresa May also said she doesn't want an extension.

[Goldhooked]

If silver in the UK suddenly became VAT free, wouldn’t that potentially devalue every ones holdings?

At the moment, a nothing special 1oz silver Britannia usually changes hands on this forum for somewhere in the range of £14 - £18.

Today a brand new Brit can be purchased from Atkinson’s for £21.58 inc vat.  If it suddenly becomes VAT free, you could then buy that brand new Brit for £17.97.

All of a sudden, those second hand Brit’s don’t look so attractive.  So the knock on effect is to devalue the second hand prices is it not?

[RoughDog]

I assume it would make silver behave similar to gold.  To answer you question I assume that comparing the new and second hand gold markets may give you a good idea.