Why are people stacking Silver over Gold when there is a VAT on silver?

[Centauri167]

Than everybody can buy Vat free at goldsilver.be, they will be happy 😁

[Paul]

1 hour ago, Centauri167 said:

Than everybody can buy Vat free at goldsilver.be, they will be happy 😁

It was nice while it lasted, even if it was just to read Eva's email responses here to disgruntled buyers lol

[Centauri167]

8 hours ago, Paul said:

It was nice while it lasted, even if it was just to read Eva's email responses here to disgruntled buyers lol

For us Europeans, it is still Vat free at goldsilver.be, so we are still happy 🙃

[stefffana]

I am talking only about me and my reasons when I am answering your question. But I am sure that more than 50% of silver stackers are the same.

I am still buying silver because:

1. I really love this metal with an ancestral use history. It is beautiful and shiny, with an unique feeling in hand.

2. It is affordable to buy constantly small quantities.

3. Even I am selling sometimes from my silver, I am using that money to buy another silver in another shapes, for my joy.

4. When selling silver, can be recovered from premium on second hand market.

5. When I am buying silver, I am buying only from second hand market.

6. Even I am not a big fan of conspiracies, I am very sure that the price of silver will go up in few years. Not sky rocketing, buy enough to have a decent retirement scheme and a return of my investment.

7. My wife (typical woman) is not interested about my silver, so I have all my freedom to do what I want with my pirate treasure chest.

8. Of course, I am still buying every month small quantities of gold, to keep the balance at 50-50% value gold and silver of my stack. I feel more confident to have both metals.

9. Platinum and palladium are out of my knowledge and interest. And are too similar at appearance with silver, the difference is only in price.

Kindest regards,

Stefan.

 

[HerefordBullyun]

19 minutes ago, stefffana said:

 

7. My wife (typical woman) is not interested about my silver, so I have all my freedom to do what I want with my pirate treasure chest.

Stefan.

 

She will be when she wants that expensive handbag!

[stefffana]

2 minutes ago, HerefordBullyun said:

She will be when she wants that expensive handbag!

My pirate chest is ugly and old, and is not with Louis Vuitton emblem.

[HerefordBullyun]

Just now, stefffana said:

My pirate chest is ugly and old.

Have you been looking at pictures of me again? My face is like a bag of smashed crabs and I am old.

[Bigmarc]

25 minutes ago, HerefordBullyun said:

Have you been looking at pictures of me again? My face is like a bag of smashed crabs and I am old.

And smell of wee

[HerefordBullyun]

45 minutes ago, Bigmarc said:

And smell of wee

Standard I havent washed in least 30 years and wear the same underpants😁

[James32]

9 minutes ago, HerefordBullyun said:

Standard I havent washed in least 30 years and wear the same underpants😁

They would likely sell on ebay?

[HerefordBullyun]

3 minutes ago, James32 said:

They would likely sell on ebay?

No. Becuase it would take me to soak them in petrol for 6 years to get them off and removed with a jack hammer.

[Bigmarc]

16 minutes ago, HerefordBullyun said:

Standard I havent washed in least 30 years and wear the same underpants😁

Me too, map of the Caribbean on the front

[sixgun]

On 12/01/2022 at 17:36, theman73 said:

''Although the European Mint can still sell platinum and silver VAT free to all EU countries until summer''

Any link about this?

Regards

Constantin

Go to this page https://www.celticgold.eu/en/gold-university/vat-silver-europe.html

A window opens

[sixgun]

On 13/01/2022 at 06:48, Centauri167 said:

For us Europeans, it is still Vat free at goldsilver.be, so we are still happy 🙃

i question this.
When buying online VAT should be applied according to the EU state the silver is being sent to. So for example i buy silver from goldsilver.be in Belgium and have it sent to Spain. That silver should have Spanish IVA applied at 21%. There were various allowances prior to July 2021 depending on where the seller was based but for a company the size of goldsilver.be i expect they would go over them in the first week of trading.

Now if i drove to Belgium and bought the silver there and brought it back to Spain, i would pay the prevailing rate in Belgium or Germany or wherever it was where i did the deal. 
Goldsilver.be may be doing what the Estonians do - that is they say you bought the silver in Belgium and then technically pay for shipping as a separate item after you have already bought the silver. This is definitely what Celtic Gold does, although i suspect European Mint just keeps their head down.
On the other hand expect they will say they are selling the silver second hand and they do not reclaim the import VAT they pay when they import the coins into the EU. In this case they might get away with it but i think if goldsilver.be were put under the microscope by the Commission this would rapidly come to an end. 

Estonia has been under pressure to apply the standard rate of VAT to silver for quite some time. The application of standard VAT will mean the end of the online silver business in Estonia.

 

Edited January 14, 2022 by sixgun

[SidS]

1 hour ago, HerefordBullyun said:

Standard I havent washed in least 30 years and wear the same underpants😁

You wear underpants 😲

 

[HerefordBullyun]

Just now, SidS said:

You wear underpants 😲

 

Well its the Toxic flatuence and poo poo that holds them together now, its more like a kack lined G String due to the wear!

[James32]

Just now, HerefordBullyun said:

Well its the Toxic flatuence and poo poo that holds them together now, its more like a kack lined G String due to the wear!

Youre fine as long as you don't butter you're bread with you're bare hands

[SovereignBishop]

6 minutes ago, HerefordBullyun said:

Well its the Toxic flatuence and poo poo that holds them together now, its more like a kack lined G String due to the wear!

I am so glad I joined this forum for it's quality content and useful information 😂

[HerefordBullyun]

2 minutes ago, SovereignBishop said:

I am so glad I joined this forum for it's quality content and useful information 😂

All part of the service and you and @James32 are welcome to come around to my house where I will make you a filet mignon sandwich with my bare hands 😁

[Junior]

Being that I don't technically have the luxury to read all the responses to this post while on lunch break, I did still read quite a fair bit and skimmed a few more. Just a random thought and forgive me if someone has already mentioned this, but what if the VAT was a way of "hiding" the true rise in the cost/price of silver?

By that I mean;

- The Hunt brothers helped the price along in the 1980s and then it came back down over the years with their unfortunate forced selloff.

- Then we saw the price take off in 2010/2011 and it came back down over the years.

- Then it took a nose dive in March 2020 while larger parties involved in silver were clearing off their books, followed by it taking off in the other direction.

At the point of silver's peak in mid-2020, most places in Canada were selling silver @ $35 CAD per ounce plus $10 premium on top ($45 CAD total). Realistically, that $10 CAD premium was ~22% of the total cost at the time. Seemingly not much different from the VAT that you guys pay in the U.K. But even given time, the change in exchange rates between currencies, and the technological advances, silver is still cheaper today than 40 years ago comparatively.

Back to the VAT question, what if VAT is hiding the true cost/price of silver so that stackers and investors alike are both deterred from buying silver and placing their hopes in the "safe haven" belief due to everyone thinking of VAT purely as a tax?

Edited January 14, 2022 by Junior

[HerefordBullyun]

8 minutes ago, Junior said:

 

Back to the VAT question, what if VAT is hiding the true cost/price of silver so that stackers and investors alike are both deterred from buying silver and placing their hopes in the "safe haven" belief due to everyone thinking of VAT purely as a tax?

VAT is a poor mans tax. The poor pay it. becuase if you own your own business you can claim it back, so for dealers its a no brainer. But anyone who doesnt own a business you pay those coffers and it goes back to the debt ridden economy, does it suppress the price of silver? not really becuase the price is rigged on the comex and again big banks and business claim thier VAT back anyway.

VAT is a poor mans tax. Period. 

Edited January 14, 2022 by HerefordBullyun

[HawkHybrid]

34 minutes ago, Junior said:

Back to the VAT question, what if VAT is hiding the true cost/price of silver so that stackers and investors alike are both deterred from buying silver and placing their hopes in the "safe haven" belief due to everyone thinking of VAT purely as a tax?

vat is not a government made up tax that only affects silver. vat affects lots of goods and services.

some goods such as gold are vat exempt, but these are the exception not the rule. despite what

many on the forum might say, it is correct to charge vat on silver. it is not a conspiracy that vat is

charged on silver at the same rate as it is charged on many, many goods and services. people claim

it's unfair that silver does not get the special treatment of being vat exempt. instead they should be

happy that gold is vat exempt for better returns on any gold investments(as it was not always like

this). paying taxes in the country that you live and trade in, is the default. nobody likes paying taxes,

but when people make it out that they are being unfairly treated when they are asked to pay their

share of taxes like everyone else is effectively claiming that they are 'entitled to special treatment'.

 

HH

Edited January 14, 2022 by HawkHybrid

[Junior]

@HawkHybrid Now I see. I do not live in the U.K. and so having not done any research on it, many people speaking of VAT make it seem like it only effected silver. VAT then is on many products with gold being an exception.

[Centauri167]

21 minutes ago, Junior said:

@HawkHybrid Now I see. I do not live in the U.K. and so having not done any research on it, many people speaking of VAT make it seem like it only effected silver. VAT then is on many products with gold being an exception.

VAT is on nearly everything. In Belgium, it's 21% on almost everything, 6% on things like water, fruits and vegetables.

Gold in general and silver coins ( so no private mint bars or rounds ) are exceptions.

[Centauri167]

2 hours ago, sixgun said:

i question this.
When buying online VAT should be applied according to the EU state the silver is being sent to. So for example i buy silver from goldsilver.be in Belgium and have it sent to Spain. That silver should have Spanish IVA applied at 21%. There were various allowances prior to July 2021 depending on where the seller was based but for a company the size of goldsilver.be i expect they would go over them in the first week of trading.

Now if i drove to Belgium and bought the silver there and brought it back to Spain, i would pay the prevailing rate in Belgium or Germany or wherever it was where i did the deal. 
Goldsilver.be may be doing what the Estonians do - that is they say you bought the silver in Belgium and then technically pay for shipping as a separate item after you have already bought the silver. This is definitely what Celtic Gold does, although i suspect European Mint just keeps their head down.
On the other hand expect they will say they are selling the silver second hand and they do not reclaim the import VAT they pay when they import the coins into the EU. In this case they might get away with it but i think if goldsilver.be were put under the microscope by the Commission this would rapidly come to an end. 

Estonia has been under pressure to apply the standard rate of VAT to silver for quite some time. The application of standard VAT will mean the end of the online silver business in Estonia.

 

If you have to pay VAT on silver coins in Spain, than principal goldsilver must charge it to you, in that you are 100% correct. 

As it is not in Belgium on silver coins, we are still happy just as in other EU countries were there is no VAT on silver.

( but if you want to know for sure what goldsilver will do, try to place an order with them from Spain, than you will be sure if they will charge you or not )