What Silver Is Best to Buy Relocating to a Non EU

[JohnyBGold]

Hello SF members. I've been wondering if all my options are open now when buying more Silver or metals in general. My strategy so far has been to buy Sov's and Silver Brits because of the CGT exception but wondering if it doesn't really matter due to relocation next year to a non EU country.

The metal I've bought so far I'm thinking will lose the CGT? so is it open season for buying going forward or is there anything I should be aware of? and best to buy from here now on? 

I've been put of buying lately due to this thought I have. 

 

Thanks

[HerefordBullyun]

Depends on country you are intending to relocate to! every country has different tax laws.

[JohnyBGold]

Thanks. Well, I understand VAT is a gimmie innit anywhere? but if that's all I need to be concerned about then cool. Likely be serbia / georgia / montenegro 

[HerefordBullyun]

@MickB youve been to these parts any clue?

[CollectForFun]

For how long do you leave the UK? Permanently?

If not permanently, do you expect selling any coins while temporarily abroad, or will you keep them and likely sell only after you are back in the UK?

[sixgun]

You need to address the questions of CollectForFun.

If you aren't going to be out of the UK forever, then do you think you would want to sell the silver whilst you are away? If you imagine you would like to hang onto the silver is there anywhere you could keep it, store it?
Do you imagine you will be visiting the UK whilst you are living overseas?
You are on the Silver Forum - we are here b/c we believe it is a wise thing to buy precious metal now and going forwards.

If you think you would like to continue buying silver whilst in Serbia or wherever i would open an account with something like Kinesis where you can invest in physical gold and silver but not have the problems of borders and the like. Additionally you can easily sell the silver.

Do you actually think you will be effected by CGT?
A lot of people talk about it on the forum. Not sure if anyone is effected by it.

[Happypanda88]

If you are currently stacking PMs and wants to take them with you when relocating, then surely gold is the only option. 

Forget about silver as they are bulky in high quantities. They won't be easy to hand carry should you accumulate multi kilos.  You could of course sell your silver prior to relocating. But then again you might not get back what you paid for them.

[JohnyBGold]

@CollectForFun Thanks for reply. Will be for the foreseeable future so would be looking to buy more there (long-term invest) but sell the odd silver / gold if needs be. 

@sixgun Thanks for reply. Coming back would not be likely for a few years, maybe for visit. Thanks for the bullion dealer tip. With CGT I just assumed I might get burned a little taking it out the country? My PM will be likely be under 12k for both gold and silver combined by the time I leave. 

@Happypanda88 Thanks for reply. My G & S combined will be under 12k (unless I'm winning lotto in next few months) I was just concerned of losing too much due to any taxes or any other sneaky costs I'm not aware about and if it would be best to not buy any more silver while in the UK at least and stick to buying a certain type of Gold? including Sov's and Gold Brits.

I just don't want to find out that I should have bought only a certain types of PM before going to another European country and lose out somwhere.

 

Thanks for replies 

[MickB]

11 hours ago, HerefordBullyun said:

@MickB youve been to these parts any clue?

If travelling through the EU to one of the non-EU countries be aware of the EU anti-money laundering law they introduced where they can confiscate your precious metals if you can't prove ownership. There was a discussion on the forum a while back about this.

[sixgun]

From a personal point of view i would stash the silver if i had a safe place and further silver i would buy on Kinesis. i say Kinesis b/c i know the system and the people. Buying and selling and moving silver across borders with premiums and potential taxes gets messy. Potentially you might end up thinking was it worth it? You should discover what the lie of the land is where you go to. There may be coins / bars which are better to hold, there may be no private market like in the UK / Europe. You might potentially get stung if you needed to sell. So unless it looks good when you have put your feelers out wherever it is you end up, i would use a system like Kinesis. There will shortly be a EUR VISA card coming out with which you can spend you bullion - not sure if it will work where you are headed but if you can it means the bullion becomes accessible and much more liquid. You can forget the borders with a VISA card on your phone or in your pocket.

[JohnyBGold]

@MickB Great tip bit of potential 🤮 then, majority of bullion ive bought via Bullion by Post which I've got proof of purchase and some from this forum. Looks like I will need to either stash some here with family and maybe take what I can only prove is mine. 

@sixgun Yeah I think stashing some is good bet just in case. Interesting about that EUR Visa will need to keep eye on that. Thanks again 

[StackemHigh]

Gold is the answer!!!

[modofantasma]

Gold sovs make sense. Silver always seems to attract attention through the xray. Not necessarily to take it from you but certainly expect a 2nd look or a few questions.

Similar density to lead perhaps?

Whilst a tube of silver Brits isn't a lot of money to move it stands out far more than a few sovs. I say sovs over pure 24ct 1 oz coins as they just don't stand out as much. Not as shiny or as big etc. 

[RustyShackleford]

3 hours ago, modofantasma said:

Gold sovs make sense.

Are sovs particularly attractive to overseas buyers?  Versus fractional 24ct gold for example?

[modofantasma]

2 minutes ago, RustyShackleford said:

Are sovs particularly attractive to overseas buyers?  Versus fractional 24ct gold for example?

Depending on the country, some like Canada and Australia have sales tax on non pure gold (like we have vat for silver) so they're less popular. That might mean you could sell them for more over in those countries though? Research the rules in the specific countries I guess and check out whether you need to fill any forms to take it there. Like I was saying though fractional gold like quarter oz coins stand out compared to the coppery looking sovs. Mabybe 1/4 oz krugs have potential. 

[modofantasma]

If I specifically wanted silver abroad I'd sell up here and buy again over there probably. Or keep and store it here somewhere though obviously  could be pros and cons to both

[Centauri167]

I would go 100% into gold, Krugs or Maples.

Sell your silver you have now or put it in a fault at your UK bank but don't travel half of Europe with it.

[dicker]

I would personally leave in the U.K. but appreciate your circumstances may be different.