Buying silver coins for investment

[REVX]

Hi,

I currently hold silver via a Physical Silver ETC but I'd like to sell it and buy some silver coins instead.  I have about £2000 to spend, I'd like to avoid paying VAT and obtain the best price possible through a reliable dealer.  I quite fancy the 2021 1oz Brittania.  My purchase is purely for investment.  As I know very little about silver coins could anyone point me in the right direction to which coin and which dealer?

Many Thanks

[Norskgeld]

Atkinsons

Bullion By Post

Hatton Garden Metals

ATS Bullion

Sharps Pixley

Baird's

are some of the most well known and I have used them all myself so I can vouch for them.

New coins will attract VAT unless stored outside the EU in a secure vault.

Pre-owned coins are VAT free.

You can also avoid VAT by buying from a European dealer like Goldsilver.be. I bought some silver from them several years ago to do this. Not 100% sure if Brexit has impacted on this option now though.

If I had £2k to spend on silver I would buy a slabbed and graded coin like an old gothic crown or florin and keep it for at least 10 years.

Modern bullion may be a better choice if you desire a quicker return though.

Personally I look at silver and gold coins as just another way to save money other than in a bank account. My primary intention is not to realise a profit but to prevent a loss due to low interest rates and inflation.

You can also purchase from the many excellent members on this Forum.

[stackerp5]

European Mint are VAT Free. Shipping to UK is approximately 45 EUR + VAT. You only pay VAT on shipping, silver is VAT free for delivery before Brexit. Just received an order from them, took a week to arrive through Capital Logistics/UPS.

https://www.europeanmint.com/2021-1oz-uk-silver-britannia-coin/

[REVX]

Thanks for the replies, I've checked out Goldsilver.be and European Mint, the prices in Euros are close but in GBP theres a huge difference.

Goldsilver

£2067 and in euros 2287 (pre-sale)

 

European Mint

£2244 and in euros 2270

 

Is it best to do a bank transfer in euros, and what are the likely currency charges for paying this way?  Also what is pre-sale?

Cheers

[stackerp5]

3 minutes ago, REVX said:

Thanks for the replies, I've checked out Goldsilver.be and European Mint, the prices in Euros are close but in GBP theres a huge difference.

Is it best to do a bank transfer in euros, and what are the likely currency charges for paying this way?  Also what is pre-sale?

Cheers

1. Yes, their EUR prices are way better than the GBP prices! I personally set the website to EUR and pay in cryptocurrency. There is a 1% fee, but even paying the fee, transfer cost and shipping cost it is still cheaper than buying a tube of britannias in the UK through BullionByPost for example  

2. You can use Transferwise as mode of payment. Straightforward and simple to open an account: open account, upload documents, transfer money in GBP and pay in EUR to the bank and shipping company (two separate invoices). It is also the cheapest commercial exchange rate (not the "tourism" exchange rate you generally get) - I recommend you look it up at the transferwise website.

3. Keep exchange rate and price and shipping in mind before placing an order due to paying with a different currency.

4. Contact European Mint customer support through their email if you'd need more help as they are very helpful and would be able to assist.

--- A pre-sale is an item they don't necessarily have in stock but will be receiving it. Since we'll have Brexit, I wouldn't risking having to wait for the metal. I would buy, in my case, the metal they have available in stock. I know that if you email the EM asking if they have a pre-sale item in stock, they might ship it out to you beforehand  

Good luck  

[REVX]

Thanks for you advice, much appreciated

[Stacktastic]

I bought brits from Eldorado coins yesterday.
I was really pleased to have a personal email from him this morning offering a UK bank account, which makes the process even easier. 

its already been shipped. £22.16p (2021 coin) a coin including standard delivery. 

They have gone back up now, but the 2020 ones are still quite low. 
I prefer £20 and below for Brits, but thats the best its been for some months.

https://www.eldoradocoins.de/en/britannia-2020-1-oz-silver 

[BullionBob]

2 hours ago, Stacktastic said:

I bought brits from Eldorado coins yesterday.
I was really pleased to have a personal email from him this morning offering a UK bank account, which makes the process even easier. 

its already been shipped. £22.16p (2021 coin) a coin including standard delivery. 

They have gone back up now, but the 2020 ones are still quite low. 
I prefer £20 and below for Brits, but thats the best its been for some months.

https://www.eldoradocoins.de/en/britannia-2020-1-oz-silver 

Great company, have used them many times. Perfect for smaller orders, as the signed for post to the UK is just over £6.

[stackerp5]

Backyardbullion are doing a last order from the European Mint specific items only, cheaper shipping costs.. Check it out and read carefully. Ask him if you dont understand somethng.