Hi was wondering what UK stackers consider their buy point with regards to a sliver oz. An example is I try to work anything below 26 an oz all in is likely to get me putting my hand in my pocket. I try to think sliver is silver and won't pay premiums for fancy silver. Of course I try to avoid VAT at all costs, but at Christmas was able to secure coins for 25 an oz which included vat and postage. Just wondered what price gets UK stackers putting their hand in their pocket?
Under 25 was my buy point,that's just not possible now so I stopped stacking silver. The vat is a rip off and unless you sell to another stacker kiss good bye to the vat you payed. I look at stackers in Australia and the States with the prices they pay and it makes me angry with what our Government tax us here in the UK for buying silver. And I don't know about you but the less I pay the Gov in rip off vat the better. We even get charged vat on a Big Mac and fries for Christ sake and just about everything else we purchase day to day!
Lately I have been paying more than I should and it is so frustrating comparing UK prices vs. USA etc. Paid close to 30 for 2013 Pandas lately but they command a premium over other bullion, Maples etc.
If you are in a position to travel to Frankfurt, you can pick up silver at a VAT rate of 7 per cent: http://www.coininvestdirect.com/en/order_collection_in_germany.html Obviously, you have to make onward decisions based on personal importation and carriage; but potentially interesting if you are on a business trip, provided you pre-arrange.
I wouldn't pay over 25 an ounce if the spot price is 20, to me its silver and if I pick up something desirable than it's even better. I have about 3.6 kg of silver, 2kg of it is in 1kg bars and the other 1.6kg is in coins/bullion rounds and bars, I'm hoping to swap one of the 1kg bars for smaller weight bars or coins when the opportunity arises. I added up what I paid for the various items and it works out that my silver stack currently stands me at 78p a gram or 24.258 a troy ounce and I only started stacking in October 2012. I have been buying from Ebay and jewellery shops and also swapping with other people. On Ebay my last purchase was 10X 1oz fine silver morgan dollar bars brand new for 235 plus 10 postage from a UK seller so it worked out to 24.50 for each bar. Saj.
