Acceptable Premium on precious metals?

[StackemHigh]

What is the highest premium you would pay on any precious metals?

Nothing to fancy only silver or gold bullion coins and not too collectable.

 

[Peacemaker]

Personally, £3-£4 over spot plus postage, impossible to get anything at that price at the minute, I think Baird & Co have some kilos and half kilos at around that price though, and when this all blows over, prices all over the board will drop back down to £3-£4 over, I cant believe people are paying £30 for 2020 Brits on eBay

[Peacemaker]

@StackemHigh In fact just checked Baird Mint , they have half kilos for £16.39/oz posted, if I was looking for bullion, I would be looking at them, kilos a little cheaper

[Danny-boy]

22 minutes ago, Peacemaker said:

@StackemHigh In fact just checked Baird Mint , they have half kilos for £16.39/oz posted, if I was looking for bullion, I would be looking at them, kilos a little cheaper

I just can't seem to arrive at the same number as you.

What I'm seeing is..........

• Sub total £218.66
• Delivery £10.00
• VAT £45.73
• Total £274.39

By my calculation that puts it at £17.10/oz posted including VAT based on half kilo being 16.075oz

Am I doing something wrong?

[Peacemaker]

2 minutes ago, Danny-boy said:

I just can't seem to arrive at the same number as you.

What I'm seeing is..........

• Sub total £218.66
• Delivery £10.00
• VAT £45.73
• Total £274.39

By my calculation that puts it at £17.10/oz posted including VAT based on half kilo being 16.075oz

Am I doing something wrong?

Ahh ok, I did not realise you had to pay postage, I thought it was free , I didnt go any further than this screen

[Danny-boy]

Ah, OK, thanks for the confirmation, mystery solved.

 

[Danny-boy]

It does say that delivery will be calculated at checkout somewhere, but can't remember where I saw it.

To be fair, delivery is rarely included in the price.

[Kman]

Ideally 3% 

But if people are willing to pay massive premiums, If I were a dealer i'd be adding massive premiums 

[StackemHigh]

Is that working out at about 25 - 30% premium. 

[Peacemaker]

Just now, Danny-boy said:

It does say that delivery will be calculated at checkout somewhere, but can't remember where I saw it.

To be fair, delivery is rarely included in the price.

Only ever ordered from Atkinson, Gold.co.uk and Bullionbypost, all free delivery, guess I am just used to that

[Peacemaker]

3 minutes ago, Kman said:

Ideally 3% 

But if people are willing to pay massive premiums, If I were a dealer i'd be adding massive premiums 

@Peacemaker your email is in that screenshot

cheers

[Arganto]

What sort of premium on silver bullion (decent rounds/coins like the equivalent of Queen's Beasts, Silver Eagles etc) was being paid during 'normal' times? I only got into this in 2020, the best deal I had was £15.36 p/oz when the spot was £13.40-£13.50 p/oz during the end of Feb/start of March. That's around 13.7% but other items at the same time were from a few pence to nearly £2 more p/oz. Just curious more than anything.

[Stu]

9 hours ago, Danny-boy said:

It does say that delivery will be calculated at checkout somewhere, but can't remember where I saw it.

To be fair, delivery is rarely included in the price.

Are you back in the game Danny-boy? Good to see you knocking around these parts again, the forum could do with more of the likes of you. 

[Danny-boy]

37 minutes ago, Stu said:

Are you back in the game Danny-boy? Good to see you knocking around these parts again, the forum could do with more of the likes of you. 

That’s very kind of you Stu, and yes, I’m back in the game buddy 😄

Thanks very much for the warm welcome 

[Melon]

For me it's 25% max on silver and 2% max on gold. Of course prefer cheaper when available and I'm fussy when it comes to gold (i.e. I'm not paying 2% on a Krug). 

[999Ag]

Same here, look for max 2/3% on gold.

Silver honestly depends what iam looking at, for example I’d pay a higher premium for coins than bars. 

[Bimetallic]

On 24/04/2020 at 08:27, Liam84 said:

What sort of premium on silver bullion (decent rounds/coins like the equivalent of Queen's Beasts, Silver Eagles etc) was being paid during 'normal' times? I only got into this in 2020, the best deal I had was £15.36 p/oz when the spot was £13.40-£13.50 p/oz during the end of Feb/start of March. That's around 13.7% but other items at the same time were from a few pence to nearly £2 more p/oz. Just curious more than anything.

You can see what premiums were before the pandemic in my comprehensive spreadsheet of premiums, as well as premiums during the pandemic. See the worksheet tabs on the bottom. The pre-pandemic premiums are mostly from January and early February, before the pandemic affected premiums.

@StackemHigh Acceptable premiums are different for gold and silver. For gold, they should be under 5% for premium 1 oz coins like Eagles, under 3% for Maple Leafs, and under 3% for bars like PAMP, Valcambi, Credit Suisse, etc. Sovereigns should be right around 5%. Smaller fractional gold, like quarter ounce or tenth ounce coins, will be over 5%.

For silver, it should be under 20% for Eagles, and under 16% for Britannias and Maple Leafs. Under 10% for bars.

This is all before VAT.

[Melon]

3 hours ago, Bimetallic said:

You can what premiums were before the pandemic in my comprehensive spreadsheet of premiums, as well as premiums during the pandemic. See the worksheet tabs on the bottom. The pre-pandemic premiums are mostly from January and early February, before the pandemic affected premiums.

@StackemHigh Acceptable premiums are different for gold and silver. For gold, they should be under 5% for premium 1 oz coins like Eagles, under 3% for Maple Leafs, and under 3% for bars like PAMP, Valcambi, Credit Suisse, etc. Sovereigns should be right around 5%. Smaller fractional gold, like quarter ounce or tenth ounce coins, will be over 5%.

For silver, it should be under 20% for Eagles, and under 16% for Britannias and Maple Leafs. Under 10% for bars.

This is all before VAT.

When I see those silver premiums it makes me super annoyed about VAT in the UK. Of course we tell ourselves we can avoid the VAT by buying from Europe, but the prices come nowhere close to as good as what I see here. The reality is we're paying a reduced tax to get them from Europe, but it's taxed nevertheless at their end and built into the price! 

[Bimetallic]

5 hours ago, Melon said:

When I see those silver premiums it makes me super annoyed about VAT in the UK. Of course we tell ourselves we can avoid the VAT by buying from Europe, but the prices come nowhere close to as good as what I see here. The reality is we're paying a reduced tax to get them from Europe, but it's taxed nevertheless at their end and built into the price! 

Yeah, it's one of the advantages of the USA, along with the sheer economy of scale of the large US market.

Some US states levy sales tax on bullion, which is equivalent to VAT but simply assessed at the retail final sale. The rate where i live is high for the US at 9.25%, so I just have it shipped to my parents in Arizona, where it's exempt.

[Uksilverstackers]

On 24/04/2020 at 11:31, Peacemaker said:

Only ever ordered from Atkinson, Gold.co.uk and Bullionbypost, all free delivery, guess I am just used to that

All free delivery = Price includes delivery.......

[Peacemaker]

1 minute ago, Uksilverstackers said:

All free delivery = Price includes delivery.......

what?

[JasonDavies]

3 hours ago, Bimetallic said:

Yeah, it's one of the advantages of the USA, along with the sheer economy of scale of the large US market.

Some US states levy sales tax on bullion, which is equivalent to VAT but simply assessed at the retail final sale. The rate where i live is high for the US at 9.25%, so I just have it shipped to my parents in Arizona, where it's exempt.

How much do your parents charge for shipping to the UK?

[Arganto]

7 hours ago, JasonDavies said:

How much do your parents charge for shipping to the UK?

I think he was saying they do it for him as his state has a higher sales tax rate. Could be wrong though.

I've been advised that if you buy from the US and have it shipped over it's still eligible for VAT to be added, so if it's caught at customs (of which there is a real chance) they send you a bill before they'll release it. Bit of a bummer!

[Bimetallic]

6 hours ago, Liam84 said:

I think he was saying they do it for him as his state has a higher sales tax rate. Could be wrong though.

I've been advised that if you buy from the US and have it shipped over it's still eligible for VAT to be added, so if it's caught at customs (of which there is a real chance) they send you a bill before they'll release it. Bit of a bummer!

I think Davies was joking. 

[Arganto]

I think I may be dense 

 

🥴 

Also maybe as part of being dopey I couldn't work out why silver bars can't be ordered and shipped to the UK from the 'VAT free' sites. Didn't realise they attract VAT differently. 

Learning learning learning 

Still a gyp though...