Over paying spot price

[Bibbs]

10 hours ago, zhoutonged said:

Can anyone point me to any silver low premium bars or coins being sold @ spot????

2nd that, I'm new and looking to buy some silver asap. 

[Darr3nG]

6 minutes ago, Bibbs said:

2nd that, I'm new and looking to buy some silver asap. 

You and most stackers here on the forum...

 

I've never had a problem finding spot gold, but silver is a different story.

Check out this listing on Buy & Sell from @StackSellRepeat - less than 15% premium on 1oz bullion (great deal IMHO)...

 

[goldking]

If only there was a handy comparison site..  

[Darr3nG]

On 16/02/2020 at 22:32, zhoutonged said:

15% is a v good deal.

 

Agreed... Check out this sub-15% deal inc. delivery:

 

I've already way overspent on my PM budget this month or I'd be all over this.  

[Seth]

On 16/02/2020 at 10:37, zhoutonged said:

Can anyone point me to any silver low premium bars or coins being sold @ spot????

Here are a few U.K. based dealers tha sell low premium/VAT free silver, note that there is no VAT on second hand, or preowned silver in the U.K.

Atkinsons Pre-Owned Silver Coins

Attkinsons Pre-Owned Silver Bars

Bullion By Post Pre-owned Silver Coins

You will find that almost every bullion dealer in the U.K. has VAT free, otherwise known as second hand or pre owned silver for sale, the selection may be quite limited and you may not be able to select the specific coin or date that you want, however some dealers like Bullion By Post allow you to select the coin and date you want if they have it in stock.

I personally wouldn't worry about buying second hand silver from dealers, I know a very serious silver coin collector and stacker, and he buys a lot of his silver coins second hand from Atkinsons, and he has never been disappointed with the quality of the coins that he has received, bullion dealers have reputations that they want to build up and maintain, they're not going to send you out beaten up, scratched up coins, they themselves will not buy/reject coins and bars from private sellers that for lack of a better term are ''too badly damaged/scuffed up'' to be sold as scrap for melting down.

 

 

On 16/02/2020 at 22:32, zhoutonged said:

Silver always sells for a premium unless it's 925 scrap... 15% is a v good deal. I can't understand why so many people on a silver forum seem to believe buying silver at spot is normal? It doesn't happen unless you are a dealer or very lucky.

If you buy enough silver in a single purchase in the U.K. you can easily buy silver for spot, as little as 1% - 2% premium over spot, plus VAT, if you're buying silver from somewhere that doesn't have any tax on silver, again you can buy it for very little over spot - again as little as 1% - 2%, as long as you are buying it in a large enough/decent sized quantity - this means generally in the kilograms as in more than 1 kilogram closer to 100 kilograms if not more.  Silver is actually pretty cheap a single silver ounce coin bought from a U.K. bullion dealer delivered to your door overnight is cheaper than a bottle of house pour vodka -- Smirnoff, or Jack Daniels.  The spot price for 1 kilogram of silver is currently £450.00, you can buy a single 1 kilogram bar of silver from a U.K. dealer and have it delivered to your door overnight for less than £600.00.  That's actually not bad considering that there is dealer markup, VAT, insurance and the postage cost involved

[SilverPirate007]

I bought second hand silver from Atkinsons. It came milk spotted and toned. It was also slightly more expensive than the major European suppliers.

I would buy second hand only from Ash or on here now I think.

[Seth]

7 hours ago, SilverPirate007 said:

I bought second hand silver from Atkinsons. It came milk spotted and toned. It was also slightly more expensive than the major European suppliers.

I would buy second hand only from Ash or on here now I think.

Are you seriously blaming Atkinsons for milk spotting, and toning, there is nothing anybody can do to stop/prevent milkspotting besides he mint/producers who made the silver coin or bar, as for toning, it will happen to all silver under the right condition, and is very easily dealt with.

5 hours ago, zhoutonged said:

Exactly so effectively 22% over spot.

Did you manange to get as far as my second sentence where I actually point out:

9 hours ago, Seth said:

if you're buying silver from somewhere that doesn't have any tax on silver, again you can buy it for very little over spot - again as little as 1% - 2%, as long as you are buying it in a large enough/decent sized quantity - this means generally in the kilograms as in more than 1 kilogram closer to 100 kilograms if not more.

What exactly do you think the point of the ''Group Orders' that are organised on here are for.  Just to avoid the 20% VAT, so you can then almost pay that 20% in shipping and handling fees, first the cost to have it shipped out to the person who organised the group order, then whatever he charges for breaking the group order up into everybody's individual orders, and finally the cost for him to have it posted to your address?  It has got nothing to do with buying as much silver as possible in a single purchase to take advantage of bulk buying discount?  Every bullion dealer in the world advertises that if you want to buy more than the amounts listed on their websites to give them a call, this means that they will work with you to come to an agreeable price for both parties, do you honestly think that if you wanted to buy 10 monster boxes of silver Britannias in the U.K. that you will be charged £100,000.00 for them, you won't the dealer will be more than happy to take a cut in their premiums/markup for an single purchase of that value, don't believe me, call any British bullion dealer as if your actually wanting to buy 10 monster boxes of Britannias, if you let it slip that your calling around for the best price, they will cut into their premiums more as to try and not be undercut by another bullion dealer, and if you can actually afford to buy 10 monster boxes of silver Britanias in a single purchase, here's a tip for you, the bigger the bullion dealer is, the more they will be able to afford to cut into their markup, however the bigger Bullion deallers are also used to dealing with bigger clients, those that spend £1 million or more in a single purchase, so it's a fine line to navigate, hence why you would let slip that you are shopping around when you are only spending £100,000.00. Ordering 10 monster boxes of silver Britannias in a single purchase would actually almost if not qualify you to be treated/registered as a bullion dealer with the Royal Mint, and be able to buy them dirrectly from them at dealer pricing.

[SilverPirate007]

13 minutes ago, Seth said:

Are you seriously blaming Atkinsons for milk spotting, and toning, there is nothing anybody can do to stop/prevent milkspotting besisides he mint/produces who made the silver coin or bar, as for toning, it will happen to all silver under the right condition, and is very easily dealt with.

Did you manange to get as far as my second sentence where I actually:

 

Yes I am ‘seriously’ blaming Atkinsons for milk spotting and toning, especially as I was told they were in excellent condition. I have very seriously contacted them in a serious way. 
 

No seriously though, they didn’t cause the spotting but it’s nice not to lie to a customer about condition.