Hey Guys So im looking to move my savings into silver or gold. I've no experience with bullion but i know fiat money cannot be trusted. I roughly have about 15000, now do i buy silver or gold? I live in the uk and to buy silver i am paying premium plus 20% VAT (value added tax) that is roughly 25% - 27% over spot if i chose to take physical delivery, which i think is the only way to go. Gold has no VAT but im still leaning towards silver becuase i think it still so undervalued. So should I bite the bullet and pay that extra 20% on silver or just go with Gold. i apprecaite any adivce on this subject
The answer might depend on how much volatility you can handle.Silver might be undervalued at the moment ,but the fluctuations in price are much bigger than gold. If you plan to hold your metals for a fair space of time silver might be the best option. ..you have to decide what strategy suits your needs. Why not have a bit of skin in both games? I hold about 10 to 1 silver to gold .That ratio seems right for me.
The 20% VAT on Silver should influence your decision. Here's a UK centric sub-forum on investing in Precious Metals ---> http://www.housepricecrash.co.uk/forum/index.php?s=d2cb726559aa736617e4eb24959de098&showforum=50
Definitely both. Given the 20% penalty on silver I'd go lower on silver than otherwise. 10,000 in gold and 5000 in silver would be nice.
Why not just take a nice train ride over to France / Belgium for the weekend and buy your silver there? (Is silver VAT free in mainland europe?)
I Think long term Gold and Short term Silver to create more Gold wealth..... so it depends on what you are saving towards and how long you can save for. Property runs in cycles so if you consider a cycle for Au and Ag that may help how you wish to invest.
If I were you and had to pay 20+% on silver, i would spend 50% on gold, and then put the rest into silver mine shares. You get the stability of gold, and the silver mines are a good play on the silver price.
with the vat thing i would buy a plane ticket to somewhere with no tax buy up big on coins and when you return just say your 500 kooks is $500aud (or usd or can etc...) and you get a nice trip to boot
Yes there is but even if there wasn't its just not possible to hide say 15 kilos of silver. The metals detectors would be screaming lol
Once they pick up on the bullion for they would charge the 20% Vat in order for me to go home with the bullion. The british government love to squeeze the tax payer.
Is Perth Mint Depository an option for you? You can have unallocated silver without the VAT while still having exposure to the spot price movements. Buying a precious metal with a 20% tax slug just seems pointless to me - what are the buyback spreads like? What about private markets - any other stackers in the UK you can buy from and sell to? I would imagine that the private market prices have a high premium on physical - no point being 20% cheaper just because it's a private sale. Another option might be GoldMoney - open an account and buy silver through them. They accept UK bank accounts for funding.
I really respect UK PM buyers in the face of such an outrageous tax! It sounds to me like you just want to protect your wealth, and of course fiat is not the place for that. Taking a 1/5 beating out of the gates would be enough for me to stick to gold. Some would say that gold is not as divisible as silver, and they're right. But you can buy sovereigns, half sovs, or 20 francs and have good divisibility that way and avoid that ungodly tax! Gold should definitely be the longest-term portion of your metal portfolio anyway, with any silver holding converted to gold once the GSR closes further. They say that silver is for tomorrow and gold is for a lifetime.
I thought stellaconcept in youtube have a way around VAT, and it's all legit. It's got to do with setting up a business and buy using your "company"'s name. Go find his video on youtube.
GP - Dont think we can use Perth Depository here in UK... , I mmight have to look into Goldmoney, thanks. Silverbug - Dont think there is vat on Britannias, although they are more expensive than other coins anyway. ps which city in UK are you? We need a UK trade thing going on like the most of the guys on here have! The taxes here are just eating everything up. Fuel just hit 7 a gallon for diesel, tax or otherwise its a total nightmare Rockin'
