Looking to invest

[Airhead]

28 minutes ago, paul159 said:

Hi Airhead, I think the quantity I'm looking to acquire, would mean I'd have to go through a dealer I suppose, such as Baird or Bullion by Post....say 30 sovereigns brings the premium down to around 5.5%. Is that worth it in your opinion?

Seems quite good although trawling though as many dealers as you can sometimes show up good deals. The best place to buy Sovereigns is right here on the forum, although you would need to upgrade your membership to see listings as soon as they are posted.

[27carrots]

I agree with Jimmock.

Until you know which years are worth more money it's best to try not to spend more than 4.5% over spot including postage.

That's about what you can hope to get back for common years in good condition (selling on the forum).

SVcollector is selling for way under that at the mo.

[paul159]

On 19/07/2021 at 23:16, Airhead said:

Seems quite good although trawling though as many dealers as you can sometimes show up good deals. The best place to buy Sovereigns is right here on the forum, although you would need to upgrade your membership to see listings as soon as they are posted.

Hi, yes I upgraded to premium membership as you suggested.

[Airhead]

6 hours ago, paul159 said:

Hi, yes I upgraded to premium membership as you suggested.

Let the fun begin. 

[GoldStandardPartyUK]

Welcome as a member

I found out after I got my membership about this page which I think is great, it's the forum's automated gold price research tool

www.thesilverforum.com/compare/?addShipping=1

Edited July 24, 2021 by GoldStandardPartyUK
Link fix

[Hunter87]

On 19/07/2021 at 16:17, LawrenceChard said:

I wouldn't trust any dealers from Essex! 🙂

Me neither 

[Hunter87]

On 19/07/2021 at 16:00, paul159 said:

Hi,

As a complete novice, I'm looking for advice on purchasing physical silver for storage at home, using savings (about £15000) plus some junk silver for emergency use possibly. I'm not particularly interested in numismatic. If I understand correctly, it's better to obtain 50-90% 0.999 fine silver for the investment. Maybe now is not the time to buy, I know premiums are very high...

If anyone could recommend any trusted dealers it would be appreciated. I live in Essex.

Just curious how come you don’t want to buy gold? 

[LawrenceChard]

On 19/07/2021 at 16:00, paul159 said:

Hi,

As a complete novice, I'm looking for advice on purchasing physical silver for storage at home, using savings (about £15000) plus some junk silver for emergency use possibly. I'm not particularly interested in numismatic. If I understand correctly, it's better to obtain 50-90% 0.999 fine silver for the investment. Maybe now is not the time to buy, I know premiums are very high...

If anyone could recommend any trusted dealers it would be appreciated. I live in Essex.

To follow up with a more serious response:

Are you aware "Investment Gold" is exempt from VAT in the UK and EU?

Silver is taxable at standard rate (20% in UK). So you still want to invest in silver?

Any "Sterling" coins (UK £s) are also exempt from CGT.

If you still prefer to buy silver:

One well known Blackpool dealer almost always has the lowest delivered (you can collect) quantity prices in the UK.

You could try doing "grey" imports.

You could buy piecemeal peer-to-peer from TSF members, but don't expect to pay 20% less than new dealer-sourced coins.

All the above assumes you want to have it in physical in your hands, making you a collector / stacker.

If you are serious about the investment element, you can legally avoid the VAT by buying for exempt storage. The same Blackpool dealer offers secure offshore storage (in Zurich), which cost 0.6% plus VAT per annum (compared with Royal Mint storage of at least 1.0% plus VAT).

Now, if I can just remember the name of the world famous Blackpool dealer, established in 1964...

🙂

Edited July 26, 2021 by LawrenceChard
typo

[paul159]

On 25/07/2021 at 12:56, Hunter87 said:

Just curious how come you don’t want to buy gold? 

Hi Hunter87, as a complete novice, I was researching silver, but you're not the first to make this comment. I am effectively looking at gold now too as investment, and maybe some silver for stacking...

On 25/07/2021 at 14:15, LawrenceChard said:

To follow up with a more serious response:

Are you aware "Investment Gold" is exempt from VAT in the UK and EU?

Silver is taxable at standard rate (20% in UK). So you still want to invest in silver?

Any "Sterling" coins (UK £s) are also exempt from CGT.

If you still prefer to buy silver:

One well known Blackpool dealer almost always has the lowest delivered (you can collect) quantity prices in the UK.

You could try doing "grey" imports.

You could buy piecemeal peer-to-peer from TSF members, but don't expect to pay 20% less than new dealer-sourced coins.

All the above assumes you want to have it in physical in your hands, making you a collector / stacker.

If you are serious about the investment element, you can legally avoid the VAT by buying for exempt storage. The same Blackpool dealer offers secure offshore storage (in Zurich), which cost 0.6% plus VAT per annum (compared with Royal Mint storage of at least 1.0% plus VAT).

Now, if I can just remember the name of the world famous Blackpool dealer, established in 1964...

🙂

Thanks very much for your detailed comment! Much appreciated. Just curious as to the meaning of "grey" imports...

[LawrenceChard]

On 29/07/2021 at 10:47, paul159 said:

Hi Hunter87, as a complete novice, I was researching silver, but you're not the first to make this comment. I am effectively looking at gold now too as investment, and maybe some silver for stacking...

Thanks very much for your detailed comment! Much appreciated. Just curious as to the meaning of "grey" imports...

It's slightly complicated.

There is/was a scheme whereby if you bought silver coins made outside the EU, without VAT, you only paid VAT on part of your cost, possibly commission. Some of this was via Estonia I think.

It came about when German VAT rate on silver coins increased from 7% ro 19%. There were and probably still are doubts about its legality. We investigated it, but decided not to try offering it because of the contingent risk. There are numerous threads about it on TSF. I you can't find the theads, I am sure some member can point you to them.

Edited August 1, 2021 by LawrenceChard