Hi guys, looking to buy silver and GOLD cheaply but good quality - can i have some tips? I am in greater london

[ShineyMagpie]

@shabs in short potentipotentially yes, always look at dealers offers they may be cheaper, but there often cheaper than dealer offers on this site. Have a look at the UK buy and sell page and see what offers are available. You can do this before buying membership if you wish, but some listing will be hidden. You can see previous completed sales to give you an idea of item that sold and price.

[Zeuk]

Cheap is a relative term for gold and silver i think, timing your purchases based on price movement may allow you to buy it cheaper on one day to the next, this seems more likely with the volatility of silver.  Buying something cheaply that isnt then easy to sell also suggests it wasnt cheap in the first place even though it may be cheap wrt to premium.  Better to buy the right thing imho, popular coins, bars that will resell, silver without vat on the second hand market.  TSF will be marginally cheaper on any given day than a dealer.

[Fenlander1]

Cheap can be a risky thing in the silver world.

[Zeuk]

Just now, Fenlander1 said:

Cheap can be a risky thing in the silver world.

Yup, its not cheap if you cant turn it back into currency when you need to

Liquidity is probably a better focus, then just spend less 

[shabs]

@Zeukthank u Zeuk! - yes i want something that i can sell easily.  what do you suggest?  

 

gold and silver SOVEREIGNS ? britannia?

 

- if i buy SILVER on here, then i pay no VAT?

- Are shops on high street also classed as SECOND HAND? - i think i saw some SILVER in shop that was second hand

- sounds like its too competitive on this forum, i might not be able to find what i need 

thanks again

@ShineyMagpie @Silverlocks  not sure if i will be able to get what i need here.  sounds very competitive. 

[James32]

1 minute ago, shabs said:

@Zeukthank u Zeuk! - yes i want something that i can sell easily.  what do you suggest?  

 

gold and silver SOVEREIGNS ? britannia?

 

- if i buy SILVER on here, then i pay no VAT?

- Are shops on high street also classed as SECOND HAND? - i think i saw some SILVER in shop that was second hand

- sounds like its too competitive on this forum, i might not be able to find what i need 

thanks again

All depends on budget?

Pretty sure the forum prices will trump any highstreet outlet 

[ShineyMagpie]

1 hour ago, shabs said:

sounds very competitive

Well, wouldn't say competitive. Yes we'll listed items sell fast but that's the same anywhere. If you are looking for a bulk load of things at the same time then potentially put up a wanted add for what you are looking for. Clearly stating the type (or specific) coins you are wanting, the quantity, the quality and potentially your estimated price you wish to pay per item.

[Zeuk]

As long as your a silver member you’ll have access to the deals as they come available, have your funds ready, know what you want and what price you want to pay in advance and then respond quickly to any posts that come up. 
 

As others have said things will generally be cheaper here than the high st whether it’s second hand or not, there’s no vat here at all, although premium on silver will be high anywhere in the UK.

id probably recommend watching the sales threads for a while to see how the market works, sovs, britts, nice silver bars will always have a place, some brands more than others. 

[shabs]

@Zeuk@ShineyMagpie@James32 Ok - interesting -- it's cheaper on here than HIGH STREET ! -- oh ok.    --- let me take all this info in. 

 

- Also, can I ask why no VAT on things bought here?  if i buy SECOND HAND from a local shop , do they charge VAT?  ..  

- Also, im scared, if i buy something here, how do I check its REAL or legit? -- my eye is not trained :'(     don't want to buy fake or less than optimal stuff.  

[Zeuk]

1 hour ago, shabs said:

@Zeuk@ShineyMagpie@James32 Ok - interesting -- it's cheaper on here than HIGH STREET ! -- oh ok.    --- let me take all this info in. 

 

- Also, can I ask why no VAT on things bought here?  if i buy SECOND HAND from a local shop , do they charge VAT?  ..  

- Also, im scared, if i buy something here, how do I check its REAL or legit? -- my eye is not trained 😢    don't want to buy fake or less than optimal stuff.  

This explains the VAT position well on second hand silver - https://www.chards.co.uk/blog/special-scheme-gold-and-silver/259

For the most part people here arent VAT registered so it doesnt apply.

Re your second point, buy from trusted sellers with good feedback and search youtube for how to test silver/gold.  Anyone established on here will value their reputation and feedback far more than duping on a single transaction.

[James32]

2 hours ago, shabs said:

@Zeuk@ShineyMagpie@James32 Ok - interesting -- it's cheaper on here than HIGH STREET ! -- oh ok.    --- let me take all this info in. 

 

- Also, can I ask why no VAT on things bought here?  if i buy SECOND HAND from a local shop , do they charge VAT?  ..  

- Also, im scared, if i buy something here, how do I check its REAL or legit? -- my eye is not trained 😢    don't want to buy fake or less than optimal stuff.  

You buy the seller as much as the item on here tbh, check feedback with a fine tooth comb.

 

[ShineyMagpie]

5 hours ago, shabs said:

Also, can I ask why no VAT on things bought here

Personal sales are by default not subject to VAT. 2nd hand from shop may still charge full VAT or margin VAT.

5 hours ago, shabs said:

how do I check its REAL or legit

Scales to weigh, dial calipers to measure, the Internet to find the details that it should be, is the most simplistic answer. (Can start doing water displacement for density check if you want). Something like a sigma metal test machine, though this may be going overboard depending on you budget and outlays.

[Orpster]

1 minute ago, ShineyMagpie said:

Personal sales are by default not subject to VAT. 2nd hand from shop may still charge full VAT or margin VAT.

Scales to weigh, dial calipers to measure, the Internet to find the details that it should be, is the most simplistic answer. (Can start doing water displacement for density check if you want). Something like a sigma metal test machine, though this may be going overboard depending on you budget and outlays.

Or bite it like a pirate, oohh arrggggg

[shabs]

Hi friends, I found this silver 1 oz Britannia Elizabeth II Silver Coin | 2023  - for £22.80  -   what do you think?  good buy?   for investment purposes .

 https://www.coininvest.com/en/silver-coins/britannia/1-oz-britannia-elizabeth-ii-silver-coin-2023/