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Pete

Silver Premium Member
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    United Kingdom

Reputation Activity

  1. Like
    Pete got a reaction from kimchi in Why are people stacking Silver over Gold when there is a VAT on silver?   
    A point that is missed reading earlier comments is that UK stackers wanting to buy new issue silver cannot avoid paying 20% VAT whereas our own Royal Mint produced silver sells to some European countries for either 0% VAT ( Estonia up until summer ) or the EU dealers are willing to use the differential VAT scheme meaning very low VAT to their customers.
    I need multiple 2022 issue coins when they are released but have no choice but to pay 20% VAT to whoever has them for sale.
    Stackers in the EU or the USA for example can buy the same coins approximately 20% cheaper.
    Buying second hand, for example on the SF, although VAT is not shown as an added tax, it is kind of built-in as silver will sell at the going rate which is higher in the UK than elsewhere for this reason.
  2. Like
    Pete got a reaction from KevinFlynn in Why are people stacking Silver over Gold when there is a VAT on silver?   
    A point that is missed reading earlier comments is that UK stackers wanting to buy new issue silver cannot avoid paying 20% VAT whereas our own Royal Mint produced silver sells to some European countries for either 0% VAT ( Estonia up until summer ) or the EU dealers are willing to use the differential VAT scheme meaning very low VAT to their customers.
    I need multiple 2022 issue coins when they are released but have no choice but to pay 20% VAT to whoever has them for sale.
    Stackers in the EU or the USA for example can buy the same coins approximately 20% cheaper.
    Buying second hand, for example on the SF, although VAT is not shown as an added tax, it is kind of built-in as silver will sell at the going rate which is higher in the UK than elsewhere for this reason.
  3. Like
    Pete got a reaction from Griffo in Why are people stacking Silver over Gold when there is a VAT on silver?   
    I bought a lot of silver from Germany when coins were rated at 7% VAT before rising to 19%.
    Then I switched all my purchases to GS.be and some other German dealers that were operating the very low "differential VAT" scheme.
    Also I started buying some silver and platinum from Estonia - The European Mint - who were totally VAT free.
    You are very fortunate that you still can buy from these two suppliers and avoid the penalties of full VAT.
  4. Like
    Pete got a reaction from MancunianStacker in Royal mint   
    Nothing new here - marketing gurus - set a high price to make people believe the item is special and extra valuable and people will flock to buy.
    Offer it too cheap and people will not think it's worth much so won't buy - works every time.
     
  5. Like
    Pete got a reaction from Griffo in Royal mint   
    Nothing new here - marketing gurus - set a high price to make people believe the item is special and extra valuable and people will flock to buy.
    Offer it too cheap and people will not think it's worth much so won't buy - works every time.
     
  6. Like
    Pete got a reaction from Griffo in Dealer stock levels   
    Not quite a different planet but almost as they are in Wales and we know all about the man in charge !
    Workers at the RM will be fined if they showed up as they are all supposed to be working from home along with the DVLA.
    Cannot imagine a few kilos of gold coins being sent to a home address for packing but then they didn't think about the practical problems of most workers.
  7. Like
    Pete reacted to LawrenceChard in 2022 Prince William Duke of Cambridge   
    As I posted earlier, the Queen's Privy Council approved a number of coins for Prince William, Duke of Cambridge.
    This will probably be to celebrate his 40th birthday on the 21st June 2022.
    This is our visualization:

    We hope the RM will do one without the teeth.
    I need to acknowledge

    Royal Navy, OGL 3 <http://www.nationalarchives.gov.uk/doc/open-government-licence/version/3>, via Wikimedia Commons for William
    Glasshouse, CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0>, via Wikimedia Commons  ...for His cypher
    https://commons.wikimedia.org/wiki/File:William_Sumbarines_Crop.png
    for components of the image.
    I am aware the colours look slightly strange, but probably better than the real thing.
    P.S. Still no news about coins featuring Prince Andrew or ex-Prince Harry.
    😎
  8. Haha
    Pete reacted to LawrenceChard in James Webb Space Telescope - 2022 Coin Forecast & Visualisation   
    Anything to oblige:

    Thanks for the input.
    🙂
  9. Like
    Pete got a reaction from LawrenceChard in James Webb Space Telescope - 2022 Coin Forecast & Visualisation   
    Nice !
    .... but you need to remove the centre segment of the array as there isn't a gold coated beryllium mirror physically there.

    This would look nice on a one ounce sized round and perhaps on the reverse a picture of a spiral galaxy or maybe an ET !
  10. Like
    Pete got a reaction from Bruce06 in importing silver   
    This is easy to work out.
    1. Your dealer must make a correct declaration and state the price paid for the goods, usually through an enclosed invoice, or the fair value.
    In other words asking a seller to state a value of $10 rather than $1,000 is an offence and the seller is responsible for this - not the buyer.
    2. The dealer will also include the cost of freight.
    3. Your broker or courier will add 20% VAT to the grand total ( invoice / value + freight ).
    Customs may also factor in a low percentage to cover insurance especially on high value shipments.
    4. Depending on the courier who "imports & clears" your goods they add a fee sometimes referred to as "a VAT deferment fee" plus brokerage fees for larger shipments.
    This fee may be a simple fixed cost or sometimes a percentage of the total declared value.
    You will therefore pay 20% VAT on everything plus whatever charge your shipper adds.
    If you are importing something relatively expensive you really need to check out the shipper say UPS, FEDEX, DHL or whoever is used.
    Sometimes the overseas seller choses a freight handler that is local or convenient to them and often with whom they have an account.
    This can sometimes work against you because the costs you will bear are set in the UK once your goods have landed and the seller generally hasn't a clue ( or cares less ).
    Therefore it is best to get a quote from the courier in the UK who effectively becomes your importer and agent.
    Check very carefully that you understand ALL the charges and how they are worked out.
    It has been a very long time since I worked in this field and I often saw huge variations in shipping costs from the USA.
    For example a package sent from the USA by UPS "door to door" that cost $50 incurred no further fees.
    However the same package shipped by the seller by UPS to the buyers "port of entry - say Heathrow " that cost the seller $5 less, ends up costing the buyer more than double the freight charge because it has to be processed and then shipped from Heathrow under a new contract.
    Things may have changed a bit but ensure your seller ships to your address and not just to the UK and contact the shipper beforehand to get a quote for fees.


     
  11. Like
    Pete got a reaction from Paul in importing silver   
    This is easy to work out.
    1. Your dealer must make a correct declaration and state the price paid for the goods, usually through an enclosed invoice, or the fair value.
    In other words asking a seller to state a value of $10 rather than $1,000 is an offence and the seller is responsible for this - not the buyer.
    2. The dealer will also include the cost of freight.
    3. Your broker or courier will add 20% VAT to the grand total ( invoice / value + freight ).
    Customs may also factor in a low percentage to cover insurance especially on high value shipments.
    4. Depending on the courier who "imports & clears" your goods they add a fee sometimes referred to as "a VAT deferment fee" plus brokerage fees for larger shipments.
    This fee may be a simple fixed cost or sometimes a percentage of the total declared value.
    You will therefore pay 20% VAT on everything plus whatever charge your shipper adds.
    If you are importing something relatively expensive you really need to check out the shipper say UPS, FEDEX, DHL or whoever is used.
    Sometimes the overseas seller choses a freight handler that is local or convenient to them and often with whom they have an account.
    This can sometimes work against you because the costs you will bear are set in the UK once your goods have landed and the seller generally hasn't a clue ( or cares less ).
    Therefore it is best to get a quote from the courier in the UK who effectively becomes your importer and agent.
    Check very carefully that you understand ALL the charges and how they are worked out.
    It has been a very long time since I worked in this field and I often saw huge variations in shipping costs from the USA.
    For example a package sent from the USA by UPS "door to door" that cost $50 incurred no further fees.
    However the same package shipped by the seller by UPS to the buyers "port of entry - say Heathrow " that cost the seller $5 less, ends up costing the buyer more than double the freight charge because it has to be processed and then shipped from Heathrow under a new contract.
    Things may have changed a bit but ensure your seller ships to your address and not just to the UK and contact the shipper beforehand to get a quote for fees.


     
  12. Like
    Pete got a reaction from Jvw in We are saved..Gold set to double in price!   
    Gold may double in price mathematically by way of a simple example -
    A Christmas pudding from Tescos today costs £5
    A gram of gold today costs £43
    So you can buy 8 puddings and expect some change swapping a gram of fine gold.
    If the gold price remains "unchanged in real terms" but the pound depreciates 50% through (a) printing swathes more fiat and (b) high inflation -
    That Christmas pudding bought next Xmas could be priced at £10 and a gram of gold will have risen to £86.
    Comparing the price of gold in a year - yes it may have doubled, but the purchasing power of your pound will have halved.
    To some of us old-timers who have experienced high inflation but lifesaving 30% annual play rises to make up for this, the value of gold has not really increased so much as charts would suggest ignoring inflation and exchange rates but it has certainly retained its value meaning real purchasing power.
  13. Like
    Pete got a reaction from Scaffstacker in Group buying/purchasing   
    There is absolutely no merit in discussing this subject any further with you since you believe you are the expert and that I don't know anything.
    Import duty - really ??
    End of discussion from me  - nothing personal so enjoy your Christmas and remain free of Covid.
  14. Like
    Pete got a reaction from LukeStacker in Bringing silver from the US to the UK   
    Until you discover that the casino you named to the customs officer, defending your pile of treasure, doesn't use coins - so need to check this out very thoroughly in advance.
  15. Thanks
    Pete got a reaction from LukeStacker in Bringing silver from the US to the UK   
    Yes - I have travelled with silver coins several times.
    Each traveller has a free allowance - check the gov site for the current limits.
    I valued my silver Eagles at spot price and don't try to argue they are only worth face value - they are not stupid !
    Provided the value of your "imports" remains below this level you can pass through the green channel.
    Anything higher needs to be declared so you need to be prepared to have some plausible evidence of value.
    Customs will ask you to pay 20% VAT on declared items that exceed your personal allowance.
    Sometimes if it is a small amount they will just wave you through appreciating your honesty - they are really looking out for traffickers and professional smugglers.
    As for the 10.000 £ / $ / € limit to declare currency this only applies to actual currency that is spendable or bankable and not to commemoratives, collectibles etc which fall in to the personal allowance. Don't forget that everything you have purchased including those trainers, jeans and polo shirts can also be included in calculating the value of goods if you got a " jobs worth" with a grudge.
  16. Like
    Pete got a reaction from KevinFlynn in Panda packaging   
    I have Pandas in sheet plastic with Chinese quality control stickers on the sheet.
    I also have plastic trays with Pandas.
    Then some earlier Pandas that were individually bagged with a QC paper slip inside.
    Sellers of single coins can easily place the coin inside a plastic bag and heat seal it.
    Lots of good fakes around so you need to trust your supplier and ignore the packaging.
    I remove the wrapping and discard packaging from my Pandas but none of them are key dates.
  17. Haha
    Pete reacted to JasonDavies in We are saved..Gold set to double in price!   
    Gold has been around forever.
    The Christmas pudding originated around the 14th century.
    But Tescos started sometime just after the first world war.
    So, I imagine that the Gold to Tescos Christmas pudding ratio has only been with us for about 100 years.
     
    However, Woolworths started in 1879 and in some countries the Woolworths Matured Christmas Pudding is still available.
    I think that as the Gold to Woolworths Christmas pudding ratio has more history to it then it may be a more reliable indicator.
  18. Haha
    Pete reacted to GoldDiggerDave in We are saved..Gold set to double in price!   
    @Pete I've seen a few gold to product ratios before but never gold to tesco Christmas pudding ratio it as new one on me but you might be on to something.  
     I'd have no problem having 16-17% interest rates, as then you could at least get 10% interest rate on your Leeds Liquid Gold savings account.  
     
  19. Like
    Pete got a reaction from JasonDavies in We are saved..Gold set to double in price!   
    Gold may double in price mathematically by way of a simple example -
    A Christmas pudding from Tescos today costs £5
    A gram of gold today costs £43
    So you can buy 8 puddings and expect some change swapping a gram of fine gold.
    If the gold price remains "unchanged in real terms" but the pound depreciates 50% through (a) printing swathes more fiat and (b) high inflation -
    That Christmas pudding bought next Xmas could be priced at £10 and a gram of gold will have risen to £86.
    Comparing the price of gold in a year - yes it may have doubled, but the purchasing power of your pound will have halved.
    To some of us old-timers who have experienced high inflation but lifesaving 30% annual play rises to make up for this, the value of gold has not really increased so much as charts would suggest ignoring inflation and exchange rates but it has certainly retained its value meaning real purchasing power.
  20. Like
    Pete got a reaction from Centauri167 in We are saved..Gold set to double in price!   
    Gold may double in price mathematically by way of a simple example -
    A Christmas pudding from Tescos today costs £5
    A gram of gold today costs £43
    So you can buy 8 puddings and expect some change swapping a gram of fine gold.
    If the gold price remains "unchanged in real terms" but the pound depreciates 50% through (a) printing swathes more fiat and (b) high inflation -
    That Christmas pudding bought next Xmas could be priced at £10 and a gram of gold will have risen to £86.
    Comparing the price of gold in a year - yes it may have doubled, but the purchasing power of your pound will have halved.
    To some of us old-timers who have experienced high inflation but lifesaving 30% annual play rises to make up for this, the value of gold has not really increased so much as charts would suggest ignoring inflation and exchange rates but it has certainly retained its value meaning real purchasing power.
  21. Like
    Pete got a reaction from Roy in We are saved..Gold set to double in price!   
    Gold may double in price mathematically by way of a simple example -
    A Christmas pudding from Tescos today costs £5
    A gram of gold today costs £43
    So you can buy 8 puddings and expect some change swapping a gram of fine gold.
    If the gold price remains "unchanged in real terms" but the pound depreciates 50% through (a) printing swathes more fiat and (b) high inflation -
    That Christmas pudding bought next Xmas could be priced at £10 and a gram of gold will have risen to £86.
    Comparing the price of gold in a year - yes it may have doubled, but the purchasing power of your pound will have halved.
    To some of us old-timers who have experienced high inflation but lifesaving 30% annual play rises to make up for this, the value of gold has not really increased so much as charts would suggest ignoring inflation and exchange rates but it has certainly retained its value meaning real purchasing power.
  22. Like
    Pete got a reaction from Scaffstacker in We are saved..Gold set to double in price!   
    Gold may double in price mathematically by way of a simple example -
    A Christmas pudding from Tescos today costs £5
    A gram of gold today costs £43
    So you can buy 8 puddings and expect some change swapping a gram of fine gold.
    If the gold price remains "unchanged in real terms" but the pound depreciates 50% through (a) printing swathes more fiat and (b) high inflation -
    That Christmas pudding bought next Xmas could be priced at £10 and a gram of gold will have risen to £86.
    Comparing the price of gold in a year - yes it may have doubled, but the purchasing power of your pound will have halved.
    To some of us old-timers who have experienced high inflation but lifesaving 30% annual play rises to make up for this, the value of gold has not really increased so much as charts would suggest ignoring inflation and exchange rates but it has certainly retained its value meaning real purchasing power.
  23. Like
    Pete got a reaction from Tortoise in We are saved..Gold set to double in price!   
    Gold may double in price mathematically by way of a simple example -
    A Christmas pudding from Tescos today costs £5
    A gram of gold today costs £43
    So you can buy 8 puddings and expect some change swapping a gram of fine gold.
    If the gold price remains "unchanged in real terms" but the pound depreciates 50% through (a) printing swathes more fiat and (b) high inflation -
    That Christmas pudding bought next Xmas could be priced at £10 and a gram of gold will have risen to £86.
    Comparing the price of gold in a year - yes it may have doubled, but the purchasing power of your pound will have halved.
    To some of us old-timers who have experienced high inflation but lifesaving 30% annual play rises to make up for this, the value of gold has not really increased so much as charts would suggest ignoring inflation and exchange rates but it has certainly retained its value meaning real purchasing power.
  24. Like
    Pete got a reaction from Tn21 in We are saved..Gold set to double in price!   
    Gold may double in price mathematically by way of a simple example -
    A Christmas pudding from Tescos today costs £5
    A gram of gold today costs £43
    So you can buy 8 puddings and expect some change swapping a gram of fine gold.
    If the gold price remains "unchanged in real terms" but the pound depreciates 50% through (a) printing swathes more fiat and (b) high inflation -
    That Christmas pudding bought next Xmas could be priced at £10 and a gram of gold will have risen to £86.
    Comparing the price of gold in a year - yes it may have doubled, but the purchasing power of your pound will have halved.
    To some of us old-timers who have experienced high inflation but lifesaving 30% annual play rises to make up for this, the value of gold has not really increased so much as charts would suggest ignoring inflation and exchange rates but it has certainly retained its value meaning real purchasing power.
  25. Like
    Pete got a reaction from Uksilverstackers in PLATINUM DEALS - (UK & Europe) See a deal, post it here   
    Ouch !!! on the excessive premiums plus VAT on top.

     
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