Bullion Centre drops it's 100% of spot buy back promise.

[HighlandTiger]

Just noticed that Bullion Centre has dropped its policy of 100% of spot buy back promise down to 98%. 

 

HGM also buys sovs at 98%. Seems like BC's online price match policy is not only for selling gold, but is now for buying gold as well

 

Still, a 6% spread between buying and selling is something I'm happy to go along with. 

 

Now compare that spread to HGM's buying and selling a silver Britannia, They buy Brits at 84% of spot and sell at 148% of spot, a whopping 64% spread.

 

Remind me again why we stack silver ?    

 

 

[watchesandwhisky]

I noticed that too, I think it all depends on strategy for building total stack weight, With silver its fairly easy to buy and flip for profit..gold not so much. 

 

Add to that the fact it can be bought in small amounts and the fact is has higher potential for price rises during the next bull run and I think It still very much has a place in any stack.

 

But Cant deny Golds many benefits like storage, instant easy sale ability and small premium spread.

[sovereignsteve]

Just noticed that Bullion Centre has dropped its policy of 100% of spot buy back promise down to 98%. 

 

HGM also buys sovs at 98%. Seems like BC's online price match policy is not only for selling gold, but is now for buying gold as well

 

Still, a 6% spread between buying and selling is something I'm happy to go along with. 

 

Now compare that spread to HGM's buying and selling a silver Britannia, They buy Brits at 84% of spot and sell at 148% of spot, a whopping 64% spread.

 

Remind me again why we stack silver ?    

I can never understand why they charge VAT on the full selling price of silver when they don't pay VAT when they buy them. I thought second hand goods in the consumer market are not VAT'able as it was originally charged when new. Same as second hand cars etc.

Different when buying and selling trade to trade though.

Can someone who knows how business VAT works please enlighten me?

[HighlandTiger]

I can never understand why they charge VAT on the full selling price of silver when they don't pay VAT when they buy them. I thought second hand goods in the consumer market are not VAT'able as it was originally charged when new. Same as second hand cars etc.

Different when buying and selling trade to trade though.

Can someone who knows how business VAT works please enlighten me?

https://www.gov.uk/vat-margin-schemes/overview

[Scuzzle]

I was thinking the exact same thing just last night, was looking at pre owned silver kilo bars at Atkinsons and wondered why VAT was applicable on a pre owned item.

[Pipers]

I think you would have to buy coins from a coin dealer rather than a bullion dealer if I remember correctly. As we know coin dealers are more expensive anyway. 

[Pipers]

Maybe the market has dried up for sovereigns or there is a glut of them.  Looking on the Bullion centres website  I cannot see any 2nd hand sovs for sale.