What's a cost effective strategy for stacking 1oz silver coins

[Johnb]

Hi,

Whats the best/most cost efficient way to buy 3 or 4 silver 1oz coins every month or so?

Would it be to buy some Britannia 'best value coin' on a website like bullion by post?

Many thanks

 

[silvergaga]

Their best value is £30 a coin our forum does £21 to £27 for the same coin!

Edited March 2, 2023 by silvergaga
spelling

[Petra]

On here! Why else are you here?😮🫢

[Johnb]

amazing, thanks. Is the idea to bid on the listings in the buy section of the website?

[Petra]

You need to pay and become a platinum etc. member, that way you will see the newest items for sale on the buy and sell tab. If you don’t pay, by the time you do see anything for sale any good well  priced items will have gone😮🧐

[Gordy]

5 minutes ago, Johnb said:

amazing, thanks. Is the idea to bid on the listings in the buy section of the website?

no, you only bid on the auction listings

the straight forward sales lisitngs will tell you the price and postage options and you comment on the listing then contact will be made between both parties to iron out the finer details, 

you pay and they post, its really easy.. get yourself a silver membership though as you wont see the best deals for 3 days then they will be gone

[Johnb]

I see, thanks guys will definitely give this a try

[Silverlocks]

3 hours ago, Johnb said:

Hi,

Whats the best/most cost efficient way to buy 3 or 4 silver 1oz coins every month or so?

Would it be to buy some Britannia 'best value coin' on a website like bullion by post?

Many thanks

 

Secondary market, particularly here - but there are other forums such as various FB groups.  Any dealer is going to be hitting you for VAT, so they're going to be expensive.  The premiums on 1oz silver coins are also quite high so they're not terribly efficient in terms of your expected sale price to stack.  The only place you're likely to get silver at a price anywhere close to what you can expect to flog it for is the secondary market.  Avoid Ebay as the commissions they charge make it a poor choice to buy PMs.

If you can stretch to £200/month (price of a half sov) you're likely to get better bang for your buck out of gold.

Edited March 2, 2023 by Silverlocks

[KleinerVogel]

I'd say save your money to buy tubes. That way you get the lowest premium possible.

[modofantasma]

4 hours ago, Johnb said:

Hi,

Whats the best/most cost efficient way to buy 3 or 4 silver 1oz coins every month or so?

Would it be to buy some Britannia 'best value coin' on a website like bullion by post?

Many thanks

 

If there is such a thing as cost effective silver bullion? 🤔

Probably look at @theman73 sales posts. He's consistently got stock and deals with varying order sizes. There are others on the forum too and sometimes random members just selling a few so you might get lucky. 

[Bigmarc]

10 hours ago, Johnb said:

Would it be to buy some Britannia 'best value coin' on a website like bullion by post?

I wouldn't go best value on 999 silver without seeing the actual coin you are buying. It's easily covered in finger prints and milk spots.

So your options are here or eBay. If you are not an ebayer with a good eye then stick to here or as another member stated, save your money and buy in bulk of sealed tubes. 

Have a look around the forum and try and determine whether Brits are the right option for what you are trying to achieve.

[scotwasp]

This forum is probably your easiest option or find a local dealer, I have a lovely local dealer who is still selling me proof coins at £22/23 and non proof coins at £20/21 but that is exceptional,  I still buy here as there are dozens of very decent sellers selling at very good prices.  My personal opinion is to avoid eBay like the plague. 

[Tamcddd]

Here is definitely your best bet you’ll save a lot 🙏 

[KevjustKev]

You mention buying, also need to be thinking about selling or passing them on. All very well buying as cheap as possible, but overseas silver coins are not CGT free. As for buying, here is the best palce

[bluffer]

14 hours ago, scotwasp said:

This forum is probably your easiest option or find a local dealer, I have a lovely local dealer who is still selling me proof coins at £22/23 and non proof coins at £20/21 but that is exceptional,  I still buy here as there are dozens of very decent sellers selling at very good prices.  My personal opinion is to avoid eBay like the plague. 

oooh you cant say that and not share names!

 

my local pawn shop is selling 1oz brits at £40   so window shopping is the only shopping i do there.

[scotwasp]

It’s not a pawn shop, more bric-à-brac, the chap does loads of house clearances etc.  
One never divulges the location of the goose that lays the golden eggs 👍😁😁

[DiegoMartin]

As others have said buying from here has got some good deals. Silvertrader does discounts on bulk purhcases, paying by bank transfer and a monthly discount code. single figure discounts buts all adds up.

[silvergaga]

Yes, SilverTrader has a very good selection of current and new coins for sale, great delivery service and a super guy to deal with.

[Paul]

On 02/03/2023 at 10:57, Johnb said:

Hi,

Whats the best/most cost efficient way to buy 3 or 4 silver 1oz coins every month or so?

Would it be to buy some Britannia 'best value coin' on a website like bullion by post?

Many thanks

 

Save your cash and buy sovereigns instead would be my best honest easiest advice after nearly  20+ years experience stacking silver 

[FriedrichVonHayek]

Buying Silver in the UK is pointless due to VAT unless you buy scrap close to spot and then at some point sell it to buy CGT exempt Gold Coins when the Gold/Silver ratio drops significantly.

However this could take some time to happen.

[gji25]

The best way is to buy when the spot price is low and dont panick to much about vat if you buy it from the right place 😉

[bluemoon]

On 04/03/2023 at 21:29, FriedrichVonHayek said:

Buying Silver in the UK is pointless due to VAT unless you buy scrap close to spot and then at some point sell it to buy CGT exempt Gold Coins when the Gold/Silver ratio drops significantly.

However this could take some time to happen.

I used to think this way about VAT but in reality you sell the same margin premiums back so it shouldn't really make a difference if silver is bought with VAT or no VAT.

[FriedrichVonHayek]

13 minutes ago, bluemoon said:

I used to think this way about VAT but in reality you sell the same margin premiums back so it shouldn't really make a difference if silver is bought with VAT or no VAT.

You could get back the margin premiums if you sell on eBay but you won't get them back if you sell on here or back to a Bullion dealer.

[MBTPSilver]

Some dealers also do second hand silver at lower prices, a lot of the time not listed online either. Always worth dropping them an email/phone call saying how many you're looking to buy and what the price would be second hand.

3 or 4 coins a month you'll be losing a fair whack on postage though, you may be better saving up 3 - 6 months at a time and ordering a larger quantity in one go.

[bluemoon]

6 hours ago, FriedrichVonHayek said:

You could get back the margin premiums if you sell on eBay but you won't get them back if you sell on here or back to a Bullion dealer.

I'm pretty sure you get them margins on this forum too compared to spot, it's just eBay who have even higher margins due to all the fees on there. A cursory look at the trading section shows me about 20% markup on silver spots or more.