It does. They let you store for free for three months. I've done that, bought in small amounts, calculated the maximum amount (in grams) I could send in the delivery price bracket I was already in and (yesterday) topped it up with a few coins so it's a few grams shy of the max. So I've minimised the delivery costs, per coin. I also only ever buy the cheapest coin they sell on the day (tends to fluctuate between Phils and CMLs).
I spoke to the guy who runs it as well - I said he *must* know if the VAT is going up to 19% on 1 January. He said (sounded genuine) that he didn't know, and that the sellers were waiting to see if the law is signed. I also asked if Phils will be exempt (as they have a face value in euros and are minted by an EU member government). He thought, if VAT went on silver, Phils would be included in it and not exempted. I've bought my lot for this year now, so just awaiting developments. Remarkably little definitive information to find on official websites...
What ever will be, will be. Always other options. Would love to see more places in the uk selling though, competition would help the buyers big time.
While I'm hopping around dealer sites looking around what to buy where, I still don't forget that there are entities out there that mass buy and sell, especially on this silver market. Take for ex the price drop since april 2013. It wasn't the futures market, it weren't ETF shareholders and if I assume that silver production rate and silver industrial demand isn't that much different, then we have entities without reporting duties (private and/or government exempted, the so called black pools for institutional traders alike pension funds / charity organisations and so on) that buy and sell much larger quantities than all the sold / bought back coins of all the dealers together. Mid april they quickly dumped $27>$21 of the spot price away, leaving the $21>$19 selling away to the smaller fish. The problem is that there is not any data public from them. The only clue there is, with over a year lag, is the Implied Net Investment from the Silver Institutes source, useless to monitor for shorter term purposes due to the lag period. Do they have pallettes 1000 ouncers left to sell? There is one thing sure: the small fish became reluctant to buy in yet another of the quick price uptrends these entities cause, and if they have pallettes left, they won't hesitate to dump another $5 of the price down, probably on the same moment that the record breaking stock markets have their next crash. So then would be the best moment to order silver coins, since they can't drive the price of silver up during that crash period. The problem might be that we'll see out of stocks then too, so it's a risk of not being able to take advantage of it.
Pretty much Everything I've read points to the tax hike being confirmed, including the stock situation. From what I gather all orders have to be carried out fully (shipping included) prior to 2014 in order to fall under the 7% VAT rate, anything delivered after 1.1.2014 falls under the 19% VAT rate. Any inventory left over from 2013 would also be taxed at 19% if sold in 2014, which explains both why stock is low and also why some retailers had clearence sales. But why not have suffient inventory, if everyone would be forced to jack up their prices anyway come 2014, one might ask? Well, there is a reason to the madness, while the VAT-rate goes up to 19%, all of the major dealers are gearing up to "cheat" the system. That is, Margin taxation. Legal tender silver purchased from distributors outside the EU will still be taxed at 19%, but those 19% is only on the margin between their cost and their selling price. The end result being a more modest price increase on most coins, by as little as 1-2% according to some sources. I guess we have to wait and see where all this will end up, but at least it doesn't not as bad as initially believed. As for the Estonian VAT legislation: Some amendments was made to the current legislation, probably due to pressure from th EU due to their 0% VAT rate. Just as the German situation it is supposed to take effect starting 1.1.2014, though it doesn't seem as bad as initially feared. Currently ALL banknotes and coins are VAT exempt, in the amended legislation only banknotes and coins which have the exchange rate of the European Central Bank will be VAT exempt. A short statement from the tax authority reads as follows: "If the silver coins sold are legal tender in their countries of issue and their nominal value is convertible into euros according to the rate of European Central Bank then the sale of such coins will be exempt of VAT also after 1st January 2014. All the other silver coins which do not have the conversion rate to euro will, after the entering into force of the amendment of the VAT Act, be taxed as ordinary goods." Exactly what that entails is still a bit unclear, Philharmonics are obviously Euros and will definately have 0% VAT. But as I understand the situation most other top selling silver coins will remain VAT free as well, this due to the fact that the ECB have conversion rates between EUR and all major currencies. So USD/CAD/AUD/GBP, which probably accounts for almost all sales, would remain at 0% VAT (if my interpretation is correct). I guess that, just as with Germany, we'll have to wait and see.
On the assumption Estonia dealers are not affected by the German hike in VAT from 7 to 19% , will they keep their prices at pre-increase VAT levels or maybe "just" sneek them up a bit on January ? Let's wait and see.
I wouldn't be surprised if the Estonian dealers upped their prices a fair bit, under the assumption that the German VAT hike would lead to a 12% price increase. But if the German price increase stops at 1-2% with margin taxation, any Estonian price increase would also be minor. We'll know in about a week or two I guess.
I think that bold tagged means NO exemption of VAT. Because the nominal value is defined as http://www.oxforddictionaries.com/definition/english/nominal-value "the value that is stated on a coin or note; face value." Since the nominal value of the coins is irrelevant to the sale price, it's not according to any ECB rate (since the ECB doesnt set a silver rate) and thus no exemption and thus tax application, without other arguments the common (full) tax rate.
I would imagine prices will be raised to keep the profits as they are. Estonia dealers will be effected to by this and will adjust prices to match. But this is only my thinking. We will soon find out im sure.
European silver bullion , prices up ,with ridiculous lead in prices for coins, you have to buy 200+ for good deals , very high shipping costs . Had a chance to grab a share of the euro market, but greed got the better of them, will stick with the German dealers , same price better service and shipping cost,
I agree. I've now seen I was paying a bit over the odds with them. I have tended to buy in bulk though and both store up orders before sending and be cagey about delivery too - making sure I only buy the amount that doesn't trip over into the next weight / price category for delivery. Also, once or twice when I've selected 'free storage' for my coins they've cocked up and posted them for free so overall I reckon I'm just about even compared to buying from other dealers. That said, now VAT's gone up, I might just switch to buying silver through allocated accounts.
So far weren't able to see sales price confirmations of that reduced tax application change, German dealers still say out of stock, and the other dealers I know/check still have the 'old' price level. One was out of stock for phils and maples, but sells them again since 2 days, and the monsterboxes are the same prices they were at earlier $20 spot price levels. So this is yet to see. At this moment, that Estonian dealer Europe Silver Bullion sells 500 phils at 18.04 each, while at a local dealer here it's 17.84 each. The Estonians shipping cost is 99,90 . The local one is for this amount free shipping. Makes quite clear the picture heh?
Today I finally noticed that the out of stocks at German dealers alike gold-supermarket.de were gone. Guess what: there is no tax mentioned at all anymore. Conclusion? That story 7 to 19% on silver was just another bogus one spreaded by the 'sell silver whatever price it is' - club. In reality, dealers just chosed another tax regime, being the one without VAT on their invoices, it didn't change the silver price at all.
If a German company sells silver to the UK and states VAT at 0% then the buyer will have to pay 20% VAT to HMRC. As far as I can tell the correct VAT in Germany is now 19%.
As far as you can "tell"? - The coin prices - spot combinations are the same as in the past. - The 7% tax at every coin article is gone. A Wiener Philharmoniker costs now 18 at gold-super-markt.de That's the same price as past USD $20 spot occasions. If the 7%>19% tax had been true, it should be +12% = 20 now. Same story at the sites of the Netherland / Belgium dealers that all warned about the possibility of a German / other countries / EU (they had some different versions) 7%>19% tax change on silver coins. They also still have the same prices as last year. Then "tell" me, where do you see the claimed +12% price change? About your German>UK statement, German dealers now use the same tax regime (the 'margin' tax) as the Netherland ones. That means that their invoices don't state VAT at all (at least not on the silver coins), just like their website articles don't. Instead, they should (I didn't buy yet so couldn't verify it yet) state that the sale happened as margin goods and/or reference the laws, just like they now do on their websites. I don't know what difference this makes for the UK taxing. The UK also doesn't belong to the Euro currency zone, so what's the relevance / how can it be a judge in this subject anyway? The subject was that the claimed higher silver price due to a 7%>19% German tax change from 1 january 2014, is nowhere seen, and since the out of stocks are now gone, and they again sell silver coins, it's a pretty definite yes/no answer isn't it?
Does this help you Pirocco - - copied today from CoinInvestDirect website "German VAT will be applied on shipments of silver coins and bullion within the EU (19% for silver coins and 19% for silver bullion). The only exception is United Kingdom, where UK Tax of 20% will be applied. EU delivery thresholds should be obeyed if shipment is performed to EU country other than Germany or United Kingdom. We would not be able to ship silver coins or bullion until of the end of current year if the delivery threshold is reached for the country of your shipping destination. However it is still possible to order our products if you choose delivery type "Self PickUp at ViaMat International/Frankfurt am Main". We will deliver your merchandize to High-Security stock of ViaMat International, located 5 taxi minutes away from Frankfurt Airport and you can pick it up by yourself or instruct a courier to do it for you. For more details about this procedure please read "Pick-Up in Germany" article located on our website. This gives you the possibility to buy silver coins at 19% German VAT rate." Also price to a German customer from CoinIvestDirect for Austrian Philharmonic 1 - 25 16.82 net 20.02 including VAT If you work it out there is 19% VAT charged.
This is the German dealer I talked about in my previous post: http://www.gold-super-markt.de/silb...-philharmoniker-1-unze-silbermuenze-dbst.html https://www.gold-super-markt.de/checkout/onepage/ No tax mentioned. No tax in the total. The coin costs 2 euro less than your CoinInvestDirect, and I wonder why you use it as example, it isn't a German dealer?
