Hi, im a complete newbie at the silver stacking game and just started about a week ago. Im based in the UK so the 20% vat takes some of the fun out it. My first purchase was from a Guernsey online shop, a small purchase just to check them out. It was an Apmex 1/2oz year of the dragon round costing me 14.25 all in delivered. After a lot of searching and browsing ebay on a regular basis I think ive picked up another 2 "bargains" but wanted some feedback if was going the right route or not. My second purchase was a 5oz 999 silver commemorative coin from westminster mint, not nice and shiny like the Apmex but works out a good price per oz of 999 silver (slightly above spot)- http://www.ebay.co.uk/itm/270903509106?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1497.l2649 And my most recent purchase, another 20g 999 silver commemorative coin - http://www.ebay.co.uk/itm/320842764020?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1497.l2649 The above two items both come with COA's so is this a cheap way to obtain silver if you can avoid the plated stuff or am I an idiot and should be sticking to trusted bullion dealers? Any advice greatly appreciated
Welcome to the Forums. Buy from trusted SilverStacker members buddy - solves all your headaches. Anyway, have a chat to member LADYBIRD whom is currently having a wee dip in Loch Ness. She has experience regarding VAT and Bullion. Please fill in your location so others know where you hide in the world here.
Hi and welcome. The reason you are being steered away from ebay is that there are a lot of counterfeits out there, i am not saying the ones you have bought are counterfeits. Just be careful on ebay, and elsewhere for that matter.
Thanks for the advice and good guess, the apmex dragon came from Sarnia Silver. Ive also been checking out - autrading.co.uk they are doing their own brand 5oz bars for 135.72 delivered all in with VAT and 10oz bars for 264.43 all in with VAT and delivery. The other place ive been looking at for silver coins is http://www.vatea.de they seem well priced as you pay 7% VAT on coins and delivery charges are very reasonable too. Any feedback on these two traders?
I remember reading on here that old pre- decimal coins are free from VAT. Look into that as it'd be a good way to build up your stack I also think you should purchase gold as its VAT free and you can always swap it for silver f2f to avoid taxes when the gsr (gold silver ratio) would be in your favour (like now). I would avoid numismatic pieces until you have a good stack going and have more experience. Good luck and happy stacking.
I have to say, I would never have got into bullion if I had to pay VAT/GST/sales tax on it. That takes a huge chunk of potential profits away (and makes potential losses much worse). I'm thankful that bullion-grade (995+ fine) Au/Ag/Pt is exempt from that here in Oz. If I were you I'd be focusing on private trades rather than dealers/companies. You'll get a lot more bang for your buck (er, that should be 'pound' I guess).
I too have the same coins from sarnia silver. Read in their e-mail that their will be no tax exemption for items under 15 after april 1st
As this thread seems to have risen from the dead, the least i can do is answer your question Chillihound! I have bought from autrading a couple of times, never an issue. That's just my experience though, others may have a different one. Maybe try they with a small purchase first and see how it goes? Also consider Atkinsons, good service and well known in the UK. Cheers!
