Looking for advice when it comes to buying silver

[Traash]

Hello everyone! 😃

I'm wanting to start stacking silver and really want to get into collecting it. I'm a novice when it comes to this so I thought this would be the best place to start. I'm a beginner and I would really appreciate any help or tips you guys/girls could give me. I'm located in Belgium and i'm reaching out to you guys to ask what places are best to buy from or the best methods to go about it. I don't want to get slapped again with the 21% VAT and it's kinda demoralising seeing how much tax you got to pay on it. Thanks for reading this far and I hope you guys can make me learn more.

Thanks and have a great day 🙂

[Michal]

Hi Trassh, just have a look around and you will find plenty of knowledge here. First you have to determine what is your goal in PM, than how to achieve it. Good luck.

[Traash]

5 minutes ago, Michal said:

Hi Trassh, just have a look around and you will find plenty of knowledge here. First you have to determine what is your goal in PM, than how to achieve it. Good luck.

I'm mainly looking to invest some of my savings in silver without overpaying and paying high premium/VAT. So was looking for tips on dealers/places to be able to do that. 😄

[HawkHybrid]

11 minutes ago, Traash said:

I'm mainly looking to invest some of my savings in silver

 

gold works better as savings.

 

HH

[Michal]

HH is right premium on silver is significant, but if you are planing to buy regularly for small amount of money silver will do. Check for silver :

https://www.europeanmint.com/

and check that:

 

   Look on sell buy on the forum as well 

[Excalibur1966]

Collecting? Stacking? Budget? If collecting, just start with those Belgian silver coins. If bullion, stick to government issued for starters like Philharmoniker. No need to order online, just go to a shop since one will be close to you.

[universalcurrency]

Hi Traash

There are a few things to consider when buying silver & gold firstly the premiums; gold generally 4% premium over spot & silver minimum 20% over spot. Of coarse collector premiums can add considerably to the price.

Also if you are considering numismatic coins or semi-numsimatics then expect to pay even more over spot price.  The value of buying numismatics is they can hold there price better than generic bullion.  However if your just starting you might want to stick to generic silver/gold that you can pickup cheaply 2nd hand in a local coin shop, gold broker or pawn shop.  Don't be scared of haggling on price especially if you know the current spot price.

As HH has pointed out the gold premium is a lot less, thus in rising markets it doesn't  take much time till your assets break even or hopefully show a profit.  You may be intending to hold your precious metals for the long haul however if you need to cash out earlier than planned gold will be a better store of value.

Another thing to consider with silver is its main market demand is in electronics, so if there were ever a recession then silver demand will drop off rapidly and so will the spot price.

Hope this helps.

[blindguy]

I buy a combination of all the metals. Gold is a store of wealth and I think silver is a great investment right now. If you are in the states there are many states with no tax on bullion. A friend of mine buys a lot of silver off facebook. I buy most of my bullion from auction sites,  there are dozens of auction sites other than Ebay out there. Good luck, Jim

[Traash]

2 hours ago, Excalibur1966 said:

Collecting? Stacking? Budget? If collecting, just start with those Belgian silver coins. If bullion, stick to government issued for starters like Philharmoniker. No need to order online, just go to a shop since one will be close to you.

Stacking. I'm in Limburg Belgium and I don't know any stores close by, do you got any recommendations for some dealers? Thanks for your input 🙂

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1 hour ago, universalcurrency said:

Hi Traash

There are a few things to consider when buying silver & gold firstly the premiums; gold generally 4% premium over spot & silver minimum 20% over spot. Of coarse collector premiums can add considerably to the price.

Also if you are considering numismatic coins or semi-numsimatics then expect to pay even more over spot price.  The value of buying numismatics is they can hold there price better than generic bullion.  However if your just starting you might want to stick to generic silver/gold that you can pickup cheaply 2nd hand in a local coin shop, gold broker or pawn shop.  Don't be scared of haggling on price especially if you know the current spot price.

As HH has pointed out the gold premium is a lot less, thus in rising markets it doesn't  take much time till your assets break even or hopefully show a profit.  You may be intending to hold your precious metals for the long haul however if you need to cash out earlier than planned gold will be a better store of value.

Another thing to consider with silver is its main market demand is in electronics, so if there were ever a recession then silver demand will drop off rapidly and so will the spot price.

Hope this helps.

Thanks for providing this information, I really appreciate it 🙂

[Traash]

1 hour ago, blindguy said:

I buy a combination of all the metals. Gold is a store of wealth and I think silver is a great investment right now. If you are in the states there are many states with no tax on bullion. A friend of mine buys a lot of silver off facebook. I buy most of my bullion from auction sites,  there are dozens of auction sites other than Ebay out there. Good luck, Jim

I'm from Europe and the tax here is 21%. Still thanks for the input man 🙂

[Excalibur1966]

8 minutes ago, Traash said:

Stacking. I'm in Limburg Belgium and I don't know any stores close by, do you got any recommendations for some dealers? Thanks for your input 🙂

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Added 0 minutes later...

Thanks for providing this information, I really appreciate it 🙂

Well, you just look up all shops in Belgium and compare the prices (postage included if not near you) and order. 1 Maple Leaf, ASE or Philharmoniker = the same everywhere. The state of the coin might be an issue, if 'used'. If you are really talking about a decent sum... Why not order them straight from the mint? So you can be sure they are real and in excellent state. Buy something European which is easier to exchange later. The American Silver Eagle, Mexican Libertad are good for in America, not so much in Europe. The Philharmoniker straight from the Austrian mint:

https://www.muenzeoesterreich.at/eng

[Traash]

2 minutes ago, Excalibur1966 said:

Well, you just look up all shops in Belgium and compare the prices (postage included if not near you) and order. 1 Maple Leaf, ASE or Philharmoniker = the same everywhere. The state of the coin might be an issue, if 'used'. If you are really talking about a decent sum... Why not order them straight from the mint? So you can be sure they are real and in excellent state. Buy something European which is easier to exchange later. The American Silver Eagle, Mexican Libertad are good for in America, not so much in Europe. The Philharmoniker straight from the Austrian mint:

https://www.muenzeoesterreich.at/eng

Thanks I will try this. 🙂

[blindguy]

Not all collector coins go up in value with time. In the early 1990's Ms65 peace dollars were around $1000 and now they are $150 or less. In the 1980 to 1981 ms64 Franklins were $40 and now they are $20 or less and the premium on MS 62 or MS63 common date gold coins is a lot less then years ago. I still buy collector coins but I want coins either so rare or so beautiful that anyone who see them wants them. When you look at a coin and the first words out of your mouth is WOW, BUY IT.

[Frost]

goldsilver.be would be great for you as you're from Belgium