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Reputation Activity
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Magritte reacted to motorbikez in Wallstreetbets eye up SLV
Reddit - wallstreetbets - THE BIGGEST SHORT SQUEEZE IN THE WORLD $SLV Silver 25$ to 1000$.
Good luck to them if they do go for SLV, the likes of Morgan Stanley & other bullion banks that have been taking the p--s for years are now crying. They don't like it when some group has the audacity to take the fight to them lol.
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Magritte reacted to Pete in The future of silver, VAT and import charges into the UK now a Deal has been done!?
Sorry but I have to disagree with this -
You are referring to Estonia, I assume, where up until recently silver coins sold by the European Mint were VAT free.
The prices charged by the E.M. however were not always competitively priced against GS.be and others.
From my own experience I probably purchased 20 times the value from GS.be than from the E.M.
GS.be and many others, mostly in Germany, sold some ( but not all ) of their silver coins at a much reduced amount of VAT - which is not a lower VAT rate.
The VAT in Germany for example is 19%.
These companies used the differential VAT scheme which meant they added full VAT on a lesser value.
There is absolutely no reason ( prove me wrong please ) why our main bullion dealers in the UK could not do exactly the same.
The same applies to the much more expensive Platinum so there is a strong argument to either remove the VAT on Platinum as a relatively rare precious metal or add VAT to Gold. I do not see why gold should be treated any differently to Platinum when sold as an "investment" product. The differential VAT method does seem fair however and that should apply to all precious metals used sold as investment products and not raw material. That is possibly one reason why silver bars were not eligible for the reduced VAT in Germany several years ago whilst coins and coin bars were.
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Magritte reacted to Pete in The future of silver, VAT and import charges into the UK now a Deal has been done!?
Come on guys and gals ... stop moaning about Brexit and kicking the government because we cannot import our silver coins at low or zero VAT.
Whilst a member of the EU goods can move freely between borders without paying additional tax.
This has now ended so that privilege has finished.
What you need to understand is that the low VAT charged has ABSOLUTELY NOTHING TO DO WITH BREXIT.
Take a look at the map here showing the standard rates of VAT across the EU.
Most countries are at 20% and some higher.
Germany is one of the lowest at 19% and Finland is the highest at 24%
THESE ARE THE RATES OF VAT charged on most goods.
Estonia is the exception at 0% but although some stackers have purchased from the European Mint or through a group buy, many will have purchased ( and I include myself ) from GS.be, CoinInvest / STG and many of the better known German coin sellers.
THESE SELLERS WERE OPERATING A SCHEME CALLED DIFFERENTIAL VAT
This was a loophole in the VAT system where a seller could charge VAT on their margin rather than the intrinsic full value of the item.
This is entirely legal and is why GS.be and others can sell at such low prices meaning not charging the 20% or thereabouts VAT.
Since we have exited the EU all goods arriving from the EU are no longer "free movement" so are subject to full VAT as if they had shipped from e.g. the USA.
The ONLY solution to this problem and let's be honest only fair to stackers in the UK compared to our EU colleagues is to convince our main UK bullion and coin dealers to also work the differential VAT scheme used across the Channel.
If a mom & pop operation can implement differential VAT why not Chards, Atkinsons, BullionbyPost and others ?????
I am sure there will be endless excuses of being overly complicated but can someone in business please explain in lay-terms the problems.
A UK dealer adopting the methods used by CoinInvest/ STG and GS.be can corner the market in the UK if they wanted to.
My question goes directly to CoinInvest / STG who already do this but not in the UK - what is stopping you ??
Does the computer say NO ?
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Magritte reacted to ChrisSilver in *Premium Members* Win a 2020 1oz Silver Krugerrand
@rob6 congratulations, you are the winner! Please could you private message me your shipping address for a 2020 1oz Silver Krugerrand and I will pass those over to @RoslandGold
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Magritte reacted to HerefordBullyun in Silver Monitoring Thread £ (GBP) only.
I think need a lie down I have never seen the pace of this, I am just wondering what it's going to be like if a financial crash happens. Absolutely unprecedented.... I have to keep touching myself not only for pleasure but to make sure I'm not dreaming!!!! Although maloney states triple digit silver he could be right.
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Magritte reacted to MancunianStacker in Silver Monitoring Thread £ (GBP) only.
Nope because paper is BS. Most just don’t know it yet 😉
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Magritte reacted to ChrisSilver in *Premium Members* 10,000+ forum member giveaway! 10oz custom bar
Congratulations to @adamthetaller for winning the 10oz 10k member custom bar! please send your shipping address to @BackyardBullion
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Magritte reacted to ChrisSilver in *All Members* 10,000+ forum member giveaway! 1oz custom round
Congratulations to @UnoWho! Please private message your address for the 1oz custom 10k round to @BackyardBullion
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Magritte reacted to LawrenceChard in Today I Received.....
We couldn't get inside the building to photograph the latest gold unboxing:
Looks like we need to add another storey.
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Magritte reacted to Spectre77 in Full Stack / Full Collection Photos
Hi Chris,
Thanks for this-will try it next time
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Magritte reacted to Abyss in Full Stack / Full Collection Photos
In the process of evaluating my Silver stack and took some photos to share
@daca some of the antique pieces photos (10 oz Monarch Precious Metals Dragon vs Viking Ultra High Relief Silver Round)
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Magritte reacted to LawrenceChard in Today I Received.....
As the page says:
"(Special Scheme Inc. VAT)
1 oz Silver Coin - Our Choice Secondary Market
Our cheapest Silver One Ounce Bullion Coin!
These best value silver coins contain 1 troy ounce of silver and are secondary market. Chosen from our choice of coin and date which may be silver Maples, Eagles, Philharmonics and Kangaroos.
Buy Best Value Our Choice Silver coins at our lowest premiums ever! Sold on the special scheme, you only pay VAT on the dealer's margin. "
But note instead of a buy/order button, it says:
"e-mail me when back in stock"
It is not a "VAT exemption scheme".
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Magritte reacted to ilovesilverireallydo in Today I Received.....
I have the weirdest taste in coins. I love these millionaires collection reproduction coins. Got these today, have quite a few of them now.
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Magritte reacted to LiquidMetalsUK in Today I Received.....
Another stunner from @Pete 250g pamp and a silvertrader purchase. 2020 mayflower to finish the set
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Magritte reacted to GoldElliott in Today I Received.....
1902 Crown. Not bad wear, real shame about the edge knocks 😕
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Magritte reacted to onlyroadtoheaven in Bars Photo Thread...
My 4 new 10oz Britannia Bars next to my 1kilo bar. Thanks to the forum members that sold me these beauties and reignited my passion for silver.
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Magritte reacted to AgNO3 in *ALL Members* Win a 2020 1oz Britannia oriental border - (Announcement & Congratulate)
Thanks All! Beautiful piece! Big thanks to @RoslandGold for sponsoring!
Cheers!
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Magritte reacted to Robda1986 in Full Stack / Full Collection Photos
Went abit mental on bars o well ☺️ not bad given I stack shelfs for a job
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Magritte reacted to R2DANIO2 in Bars Photo Thread...
Some generic bars i got my hands on. Nothing special but i like them!!