Great Seals of the Realm - Henry VIII

[westminstrel]

Also, as someone mentioned, no max mintages have been specified.

So there’s a possibility they’ll release PF70s via a partnership. 🤷🏻‍♂️ 

[SovereignBull]

22 minutes ago, Steve66 said:

Just ordered the 1/4 oz  I’m hoping it’s going to be worth the money 

What’s going on in this pic? Looks well dodgy 🤣

[paulmerton]

1 minute ago, SovereignBull said:

What’s going on in this pic? Looks well dodgy 🤣

Glad I'm not the only one to have mentioned that 😅

[BackyardBullion]

24 minutes ago, Steve66 said:

Just ordered the 1/4 oz  I’m hoping it’s going to be worth the money 

You have just lost £300

Congratulations.

[SovereignBull]

Just now, BackyardBullion said:

You have just lost £300

Congratulations.

JC 🤣 Harsh that BYB! 

[BackyardBullion]

Just now, SovereignBull said:

JC 🤣 Harsh that BYB! 

Harsh but factually correct 

[Shinus73]

I've just read elsewhere that the gold price hike for these issues is a VAT thing.

These aren't coins, therefore are subject to VAT.

[paulmerton]

Do the gold and silver versions have hallmarks? I guess they'd be on the base of the rim if they do but I can't see any mention or pictures of it.

[paulmerton]

4 minutes ago, Shinus73 said:

I've just read elsewhere that the gold price hike for these issues is a VAT thing.

These aren't coins, therefore are subject to VAT.

Certainly does look like it's roughly in line with the standard gold proof pricing + 20%, but the silver proofs are also a tad more expensive than regular silver proofs.

[Paul]

5 minutes ago, Shinus73 said:

I've just read elsewhere that the gold price hike for these issues is a VAT thing.

These aren't coins, therefore are subject to VAT.

Getting "Laboured" out of our money already, and they've only been in a fortnight !

The replacement Lulu Lytle £2,260 a roll of 'wallpaper' isn't even dry on the walls of No.10 yet  

[westminstrel]

10 minutes ago, Shinus73 said:

I've just read elsewhere that the gold price hike for these issues is a VAT thing.

These aren't coins, therefore are subject to VAT.

Hmm, but I’m in Australia and I can confirm I’m still seeing the full (VAT-inclusive?) price for the gold coins.

For the silvers, as usual, I’m seeing the VAT-exclusive price when I add to my basket.

Edited July 22 by westminstrel

[paulmerton]

If the price hike is a VAT thing, what is it that makes gold bars (which are also not coins) exempt from VAT? Is it merely the shape, or the intended purpose behind them? Curious where the boundaries lie and what the thresholds are with regards to shapes and/or premiums!

[misterchippie]

£7K for 2oz of gold? Has the RM lost their minds? Well, I guess someone will buy 'em. I'm just going to stay down here on the floor for the morning, I can't get back up again after that.

[Shinus73]

7 minutes ago, westminstrel said:

Hmm, but I’m in Australia and I can confirm I’m still seeing the full (VAT-inclusive?) price for the gold coins.

For the silvers, as usual, I’m seeing the VAT-exclusive price when I add to my basket.

I just read it somewhere - I don't claim to understand and can't guarantee it's correct. 🙂

5 minutes ago, paulmerton said:

If the price hike is a VAT thing, what is it that makes gold bars (which are also not coins) exempt from VAT? Is it merely the shape, or the intended purpose behind them? Curious where the boundaries lie and what the thresholds are with regards to shapes and/or premiums!

Triangles are OK.

[morrco]

Gold is VAT free but silver is not.

[Paul]

Just now, Shinus73 said:

I just read it somewhere - I don't claim to understand and can't guarantee it's correct. 🙂

RRP of a standard 2oz gold proof is now £5,890 + 20% VAT £1,178 gets us to £7068

So a flat £7,000 seems about right 

So its actually a £68 discount you are getting

#Bargain 

[paulmerton]

Just now, morrco said:

Gold is VAT free but silver is not.

I don't think that's correct; gold in the form of jewellery has VAT on it for instance.

[Paul]

1 minute ago, morrco said:

Gold is VAT free but silver is not.

but is classed as a medal i believe not a coin - as no monarch portrait or monetary value on it 

[morrco]

I should have said gold bullion is VAT free. I imagine that applies to seals  issued by the Royal Mint even though these are not coins or gold bars.

[paulmerton]

1 minute ago, morrco said:

I should have said gold bullion is VAT free. I imagine that applies to seals  issued by the Royal Mint even though these are not coins or gold bars.

The VAT exemption must not apply if the premium is beyond a certain percentage. These clearly aren't being sold as investment gold.

[westminstrel]

17 minutes ago, westminstrel said:

Hmm, but I’m in Australia and I can confirm I’m still seeing the full (VAT-inclusive?) price for the gold coins.

For the silvers, as usual, I’m seeing the VAT-exclusive price when I add to my basket.

Not sure if you guys are reading all posts… I said above that I’m seeing VAT-free price for the silvers but not for the golds.

So it likely isn’t a VAT thing?

[paulmerton]

If in doubt, add a regular 2oz gold proof coin to your basket and there is no mention of VAT; add one of these to the basket and it says it includes VAT.

[Minted]

Investment gold is VAT free.  There are two types.  One is in the form of bars.  The other is 'coins'.  Medals don't fit into either category.

2.1 Definition of investment gold

Investment gold is either:

(a) gold of a purity not less than 995 thousandths that is in the form of a bar, or a wafer, of a weight accepted by the bullion markets

(b) a gold coin minted after 1800 that is:

• of a purity of not less than 900 thousandths
• or has been, legal tender in its country of origin
• of a description of coin that is normally sold at a price that does not exceed 180 per cent of the open market value of the gold contained in the coin

(c) an investment gold coin as specified in Investment gold coins (VAT Notice 701/21A) - GOV.UK (www.gov.uk)

[Zhorro]

I'm not impressed with the clarity of the design.

[westminstrel]

47 minutes ago, Zhorro said:

I'm not impressed with the clarity of the design.

It’s probably supposed to replicate old wax. 

But yeah, the lack of definition looks strange on a modern issue.