Buying from the US

[JamieUK]

Hi Folks

I’ve recently become a silver collector and just joined The Silver Forum. I wanted to ask advice on buying silver bullion from the US and posting it to the UK. What kind of taxes etc am I likely to have to pay, is it a wise investment? I’ve been buying from UK sellers/companies but there seems to be more available options in the US compared to the UK markets. 

[daca]

3 minutes ago, JamieUK said:

Hi Folks

I’ve recently become a silver collector and just joined The Silver Forum. I wanted to ask advice on buying silver bullion from the US and posting it to the UK. What kind of taxes etc am I likely to have to pay, is it a wise investment? I’ve been buying from UK sellers/companies but there seems to be more available options in the US compared to the UK markets. 

VAT 20 % + import fees + shipping fees

[JamieUK]

Thanks Daca 

Does anyone have experience of buying from the US? I’ve been looking at bullion sold at APMEX.com. Never bought from them before.

[JamieUK]

15 minutes ago, daca said:

VAT 20 % + import fees + shipping fees

Thank you 🙏 

[Pete]

4 minutes ago, JamieUK said:

Thanks Daca 

Does anyone have experience of buying from the US? I’ve been looking at bullion sold at APMEX.com. Never bought from them before.

Large minimum order.
Often very high premiums ( used to be good prices but many items ridiculously priced ).
Expensive shipping
UK VAT at 20% plus courier fees with VAT on top.

If looking for the more popular coins, in small quantities, it generally works out cheaper buying in the UK.
My suggestion is to put a "Wanted" in the trade section here which is free and tends to get super fast responses from fellow members.
 

[LawrenceChard]

17 minutes ago, JamieUK said:

Hi Folks

I’ve recently become a silver collector and just joined The Silver Forum. I wanted to ask advice on buying silver bullion from the US and posting it to the UK. What kind of taxes etc am I likely to have to pay, is it a wise investment? I’ve been buying from UK sellers/companies but there seems to be more available options in the US compared to the UK markets. 

It is a much bigger market, which means a larger selection is more viable, however...

Bigger does not necessarily mean better...

or better value.

If you needed to return anything, it would cost more, and involve more time and hassle.

In most cases I am sure you would get better value in the UK.

Modesty prevents me from naming a well known local dealer.

Oh, and my general advice is that gold is a better investment, but you also mention being a collector.

The above not-mentioned local bullion dealer has an advice page "Advice Guide for UK Bullion Investors" written by a well known TSF member.

😎

 

[JamieUK]

1 minute ago, Pete said:

Large minimum order.
Often very high premiums ( used to be good prices but many items ridiculously priced ).
Expensive shipping
UK VAT at 20% plus courier fees with VAT on top.

If looking for the more popular coins, in small quantities, it generally works out cheaper buying in the UK.
My suggestion is to put a "Wanted" in the trade section here which is free and tends to get super fast responses from fellow members.
 

Thanks Pete I’ll have a look.

[JamieUK]

1 minute ago, LawrenceChard said:

It is a much bigger market, which means a larger selection is more viable, however...

Bigger does not necessarily mean better...

or better value.

If you needed to return anything, it would cost more, and involve more time and hassle.

In most cases I am sure you would get better value in the UK.

Modesty prevents me from naming a well known local dealer.

Oh, and my general advice is that gold is a better investment, but you also mention being a collector.

The above not-mentioned local bullion dealer has an advice page "Advice Guide for UK Bullion Investors" written by a well known TSF member.

😎

 

Thanks Lawrence 😎

[LawrenceChard]

2 minutes ago, JamieUK said:

Thanks Lawrence 😎

You're welcome

😎

[dicker]

The only silver I would consider buying from the US would be very rare Morgan dollars.  However…even these can be sourced from the U.K. if you are patient!

In my opinion it is not worth it for non- numismatic coins that can be sourced in the UK

[JamieUK]

Just wish the coin series I’m wanting to purchase was available in the UK. They are available on eBay but at a VERY high premium.

[kena]

Do you mind sharing with us that coin series that you are looking at?