VAT on Silver

[Roy]

...specifically our EU friends, specifically the silver coins they sell.

This confuses the hell out of me. I believed that STG operated a margin scheme where VAT was only charged (at that county's rate) on the profit margin.

i.e. they buy a coin for X, sell it for Y and vat is only charged on the increase between X and Y. 

Nearly VAT free silver. Isn't this correct?

I hope STG can join this thread for a definitive answer. (discretion assured) 

[HelpingHands]

Yes that's right.

They won't tell us their exact business dealings in case competitors are watching.

[Roy]

Thanks HH.

Of course 

[Danny-boy]

As per the other thread Roy, that is also my understanding.

You can word it in different ways though as MB pointed out.

[Roy]

Yes.