Timbo45

19 minutes ago, DarkChameleon said:

The etc is dropping but the actual metal?...not so much, suppliers are charging 50% premiums on silver, let the try that with gold.

That's the annoying thing 😂, we get hit with big premiums but I wonder what the banks buying 1000ozt bars by the pallet are paying? Given most of the institutional stuff probably never leaves a vault but has a different 'property of' sticker stuck on it, I doubt they're paying massive premiums and they'll be clawing back the vat.

I agree though, the price of silver for us normies is a different beast to spot/paper market trickery.

With Basel 3 coming into effect in June I'm inclined to think prices of silver and gold are being kept low/pushed lower so banks can hoover up cheap metal to cover the 85% reserved funding requirement for derivatives. It'll be interesting to see what happens post June 28th.

1 hour ago, Erolroller said:

So how do you get it into Norn Iron and not pay vat? 

Would a parcel forwarding company work for this?

Ship the purchase to a parcel forwarding Co in NI with an NI address (who accept delivery on your behalf) and then they forward the parcel to you on the mainland?

The cost of using such a service might be prohibitive and I'm not immediately aware of any based in NI. Might need a Google.