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Protegimus

Annoying New Person Questions

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Hi all,

Let me start off with an apology because I’m sure these are questions you get all the time. I did do a bit of a search on the forum before posting this, I promise.

Firstly, I’ve only bought from bullionbypost so far which I was happy with, until my last delivery of privy rooster Britannias which sadly came in such a poor state. So, where do you recommend a small time, once every couple of months purchaser of a few hundred pounds worth, orders from. I’ve heard mention of outside the UK?

Secondly, I’m off to work in Canada for a few months. Would you suggest I look at buying out there (if so, what)?

Lastly, I’m collecting silver. Anything I can grab at a cheap price. All I want is to invest a few quid here & there now whilst employed to help me in the future & so any top tips are so hugely appreciated for future investment.

 

Again, apologies for what I know are probably you’re most mundane questions.

 

Kind regards

 

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Inside the UK (and I'm not in the UK) my understanding is that you're basically swimming up stream when dealing in silver because of the way your VAT taxes work - rewarding (or at least not penalizing) gold purchases, but charging full taxes on silver.  The trouble is that the UK just doesn't consider silver an investment metal, apparently.  That is probably going to be a shadow over your desire to stack silver.  I don't know how VAT works, but I would assume that if you purchase silver in Canadia you're still going to have to file that tax when you get it back home.

That said, I'm really the last person who should be talking about this since I have no idea what I'm talking about lol.

Edited by Lowlow

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Look out for offers in the trade section here, often a few ounces for sale at good value. 

If you can get the metal back from Canadia buy some silver or platinum if its tax free. If you want to buy while in the UK buy metal other than gold from Europe, pay in Euros and make fewer larger orders to cut down on postage and premium costs. 

If you want gold its a lower margin investment as has been said, gold is VAT free and small spread on the buy/sell side of things, silver is not. 

Best to add, look into how you can get the metal back from Canada without charges before making plans to do so, and if the cost is worth it.

Also don't buy silver from bullion by post, its 20% VAT plus high premium and high postage cost. I bought a few ounces from them when I first started and didn't know any better. 

Edited by KDave

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It depends on how Brexit pans out - you can get cheaper silver from some parts of Europe. Backyard Bullion does a group order from https://Europeanmint.com and https://goldsilver.be.

Lots of German dealers give decent prices, you can use the comparison site https://gold.de - it is in German but not difficult to work out. i have bought from https://www.silver-to-go.com/en/

You will be able to buy cheap silver in Canada but it is getting it back into the UK through customs.
The forum is often a good place to pick up silver but really you need to upgrade your membership to see the deals as soon as they appear.

There is also UK Silver Stackers on fakebook - i have never used the group although i am a member.

https://www.facebook.com/groups/1645686675695164/

It may well turn out you would be better buying gold rather than silver if it becomes more difficult to get hold of lower taxed silver in the UK. The UK is one of the best places there is to buy gold - so really i would suggest gold over silver. That said i have bought a lot of silver but it was never with 20% VAT on it.

Edited by sixgun

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Morning,

 

I thought I would inject a little advice for buying silver in the UK........keep your eye open for pre-owned (secondary market) silver as you will only pay the VAT on the profit made by the dealer. You can pick up some great coins at great prices. They are very popular so you have to be quick......we bought in just over 5000 silver maples and within 5 days they were gone! 

Here's an explainer - https://www.chards.co.uk/blog/special-scheme-silver/259

These are all our secondary market silver products - https://www.chards.co.uk/products/special-scheme-silver as you can see they are out of stock so set up an email reminder! 

If you can buy pre-owned CGT exempt coins its a double wammy benefit. That is if capital gains tax is an issue for you.....

Happy silver hunting! 

Ian 

 

 

 

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On 15/03/2019 at 18:29, Protegimus said:

Hi all,

Let me start off with an apology because I’m sure these are questions you get all the time. I did do a bit of a search on the forum before posting this, I promise.

Firstly, I’ve only bought from bullionbypost so far which I was happy with, until my last delivery of privy rooster Britannias which sadly came in such a poor state. So, where do you recommend a small time, once every couple of months purchaser of a few hundred pounds worth, orders from. I’ve heard mention of outside the UK?

Secondly, I’m off to work in Canada for a few months. Would you suggest I look at buying out there (if so, what)?

Lastly, I’m collecting silver. Anything I can grab at a cheap price. All I want is to invest a few quid here & there now whilst employed to help me in the future & so any top tips are so hugely appreciated for future investment.

 

Again, apologies for what I know are probably you’re most mundane questions.

 

Kind regards

 

Silver coins?...because if you just want silver then maybe look at sterming silver at auctions...leave to tell it apart, go to thirst stores and auctions and buy,non weighted sterling, it's higher then old coins (925 compared to 900)....and you could if you need the space melt it down into ingots or shot...if it's purely silver then this is an option.

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