FutureStacker

Is there a way to make it worth it in the UK? I am 23 and have been looking online on and off at gold and silver since I was 12/13. I'd get really into it for a couple of months, forget for a year, get interested for another month, etc. I'm now in a position for the first time where I'm about to be able to afford to invest in silver, and I feel quite upset at the thought of it not being economically viable/worth it. Thank you

Hello, thank you for your response, You mention that the production cost is factored in - does this mean that if you buy a 1 oz silver coin for example £28, when the spot price is £19, imagine that you want to immediately sell it, does that mean you get back £19 (spot price) or when you come to sell, do you get back spot price plus the extra value of production? VAT at 20% means that £5.60 of it is tax, meaning £3.40 is over spot. When you sell, is any of this recovered, or do you literally get the £19? With regards to VAT - I have seen mentioned on this forum that people will import gold from Germany or other EU countries to avoid VAT. When I have looked on some German websites however, their silver seems similarly expensive. Where can people order from that in the example above, would mean they are buying an ounce for £22-23 when the spot price is around £19? Thank you so much for your time!

Hello, I have been looking at silver on and off for years, but never taken the plunge and bought any. I've always noticed, and it seems to have got far worse now, how much over spot price physical silver is sold for. Right now the price is hovering around roughly £19 an Oz - but from places such as The Royal Mint, the cheapest 1 oz bar is £28. From Bullionbypost, the cheapest 2 Oz silver round is £72 when you're buying a single one - which works out to twice the spot price. How does anyone buy physical silver when you're getting such a bad deal? I'd understand £2-3 over spot, but 50% over spot? It's crazy! I'd love any input and advice. Thank you!