Selling Liquidating Coins/Bars in UK Query

[Paul]

What colours your Bugatti ?

[ArgentSmith]

I 😍 TSF

[very452001]

1 hour ago, stackerp5 said:

Hi @very452001, you've been registered on the forum since 2018, why don't you check out the UK buy and sell page to see how it works? No need for a membership to sell. You are restricted to 1 listing every 30 days I think.

You may get a whale buying all, or you may get multiple people buying.

It could be a term of your sale that you are looking to sell all in one go.

If you're looking for speed, bullion dealers such as BBP and Atkinsons will give you a sh!te rate, probably spot or below. Selling on the forum you'll get better prices.

Possible to sell above spot on the TSF, just for Silver or can sell above Spot for Gold too?

So these big whales use and squeeze me and see me as a Arbitrage trade opportunity that is buy my brand new silver coins and resell them at their corresponding dealers by adding 20% Tax to it and they can reclaim that Tax back by showing losses or something annually to HMRC? Can they add 20% VAT to old coins minted few years ago or they can only add VAT 20% to 2023/24 newly minted coins?

[HonestMoneyGoldSilver]

1 minute ago, very452001 said:

Possible to sell above spot on the TSF, just for Silver or can sell above Spot for Gold too?

So these big whales use and squeeze me and see me as a Arbitrage trade opportunity that is buy my brand new silver coins and resell them at their corresponding dealers by adding 20% Tax to it and they can reclaim that Tax back by showing losses or something annually to HMRC? Can they add 20% VAT to old coins minted few years ago or they can only add VAT 20% to 2023/24 newly minted coins?

Bruh. Yes. No. Huh?

Yes you can sell silver comfortably above spot on TSF and a decent margin above spot if you're talking about 1oz coins and semi-numismatics

You can sell fractional and semi-numismatic or numismatic gold on TSF for above spot. Regular bullion gold is currently selling at spot. An MS70 Buffalo is selling for pretty much spot inc delivery (somebody needs to buy that soon please 🙏). There have been several listings lately selling below spot even on nice gold

Huh? That's not how it works with dealers. They use the 'VAT Margin Scheme' to sell the second hand silver you flogged them. It's only brand new silver that attracts 20% VAT with brand new meaning never sold before. The Margin Scheme enables dealers to charge VAT on their PROFIT only as opposed to the entire value of the item like with regular VAT

Do you expect to pay the same per bottle on a 24 pack of beer as a single bottle? The more you buy the cheaper it gets. The same is true when selling

Just because a coin doesn't have 2024 on it doesn't mean it isn't "brand new". You can buy brand new coins from any year in theory

 

[theman73]

1 hour ago, James32 said:

How much silver have you currently got?

I think none, he is just testing the waters.

@very452001 please calculate again and again and again whatever you are trying to do. Real life is not the same as the ideas on paper.

[DavePa]

1 hour ago, James32 said:

How much silver have you currently got?

If it's half a tube of Brits it's a few days late for that joke 

[DavePa]

In the end it is irrelevant what the person does with regard to selling on. If you sell to them at a reasonable price that you as a seller think correct. 

Don't overthink it as it will drive you to distraction (a bit like this thread). 

I'm new here but believe that the regulars here transact in good faith and trade with Their reputations in mind. For them to lose that is more damaging than losing a few $ on a deal 

[CANV]

I think AI has infected this account. its sky net...  

[Darr3nG]

5 minutes ago, CANV said:

its sky net...  

SkyNet would've sold a few ounces by now

[very452001]

3 minutes ago, HonestMoneyGoldSilver said:

Bruh. Yes. No. Huh?

Yes you can sell silver comfortably above spot on TSF and a decent margin above spot if you're talking about 1oz coins and semi-numismatics

You can sell fractional and semi-numismatic or numismatic gold on TSF for above spot. Regular bullion gold is currently selling at spot. An MS70 Buffalo is selling for pretty much spot inc delivery (somebody needs to buy that soon please 🙏). There have been several listings lately selling below spot even on nice gold

Huh? That's not how it works with dealers. They use the 'VAT Margin Scheme' to sell the second hand silver you flogged them. It's only brand new silver that attracts 20% VAT with brand new meaning never sold before. The Margin Scheme enables dealers to charge VAT on their PROFIT only as opposed to the entire value of the item like with regular VAT

Do you expect to pay the same per bottle on a 24 pack of beer as a single bottle? The more you buy the cheaper it gets. The same is true when selling

Just because a coin doesn't have 2024 on it doesn't mean it isn't "brand new". You can buy brand new coins from any year in theory

 

Does numismatics mean low mintage low circulation coins or rare coins like these:

https://www.physicalgold.com/insights/what-silver-coins-are-worth-the-most/

Yeah if so I can see the reason why they fetch above spot 

What is fractional/semi numismatic? Or does numismatic mean gold/silver bullion coins with simply just designs on them excluding plain boring bars? If so why Gold coins like that Buffalo gold coin you have that has the design of buffalo on it fetch spot only when it is more interesting than its boring bar equivalent?

So VAT Margin Scheme Silver Bullion Sellers & Dealers coins & bars are cheaper than brand new never been sold before coins & bars at the high street dealers? Where do I find these VAT margin scheme sellers or dealers online that have their own websites to order from? 

How does HMRC know whether a coin or bar has been sold before? Do coins/bars have individual serial numbers on them that are registered on a computer server somewhere connected to HMRC? 

So you saying a bullion dealer can sell a brand new never been used '2019' minted silver coin with 20% VAT added to it that is 5 years old at todays prices because it was never been sold before and just happen to be in stock on the dealer's shelf unshifted gathering dust for the past 5 years in the dealer's warehouse and the 2024 coin can be cheaper via the vat margin scheme because it was sold before?

Generally in the UK does the VAT 20% Tax rule apply to all goods/services that never been sold/transacted before? If so then Amazon warehouse deals or Refurbished items on Ebay should be excluded from VAT right because the goods have been sold before and are customer returns right?

 

[HonestMoneyGoldSilver]

Turns out @theman73 is psychic

[ArgentSmith]

Could be a thread killer but my advice would be if in doubt… Do your own homework. 

[James32]

Just now, ArgentSmith said:

Could be a thread killer but my advice would be if in doubt… Do your own homework. 

You mean us or OP?

[theman73]

14 minutes ago, HonestMoneyGoldSilver said:

Turns out @theman73 is psychic

Nope, this is the new generation who thinks they can get rich just by searching the internet.

No one wants to risk a penny but they all calculate how many millions they will make just because they ''know'' an obscure website somewhere.

I travelled tens of thousands of miles just to test my ideas, most of the time just wasting money and energy, things that the new generation found absurd ''What's the internet for then? Bruv? Innit? R3sp3kt bro...''

Edited April 3 by theman73

[ZRPMs]

2 hours ago, very452001 said:

Sorry you guys from India and how do you transact from buyers/sellers in the UK? Is it transacted in $Dollars or Rupees?

Oh gosh blyme, But I'm in Wales. As @HonestMoneyGoldSilver says I have a substantial flock of lovely ladies, don't ewe know.

8 minutes ago, theman73 said:

I travelled tens of thousands of miles just to test my ideas,

Not sure I'd go that far.

[very452001]

45 minutes ago, ZRPMs said:

Oh gosh blyme, But I'm in Wales. As @HonestMoneyGoldSilver says I have a substantial flock of lovely ladies, don't ewe know.

Not sure I'd go that far.

 

Sorry as there was Indian Ad on your post with an Indian phone number.

[DisplayName]

Quality topic. I'd buy another tube of topics like these any day.

[Petra]

This still going on without a sales post? Obviously in a real hurry😮🤔🤔

[Uksilverstackers]

I really dont know how @very452001 even managed to buy an ounce in the first place with price fluctations!!!

[stackerp5]

4 hours ago, very452001 said:

So these big whales use and squeeze me and see me as a Arbitrage trade opportunity that is buy my brand new silver coins and resell them at their corresponding dealers by adding 20% Tax to it and they can reclaim that Tax back by showing losses or something annually to HMRC? Can they add 20% VAT to old coins minted few years ago or they can only add VAT 20% to 2023/24 newly minted coins?

Does it all matter after you've cashed out of your position though? Regardless of where you choose to go to sell based on want or need, you will cash out at fair market value (especially on the forum). I personally don't care about what the buyer of my items does with it.

Unless it's rare or numismatic coins/bars, I'd have an issue!  

Edited April 3 by stackerp5

[James32]

@very452001 how much for 100ozs of clean silver to get the ball rolling?

[Spyder]

For crying out loud, is this some kind of wind up?

Everything is if this happens or that happens.

If you want to sell all in one go and keep mentioning order filled do not buy physical and take possession,  buy your silver  and keep in a vault via companies Bullionvault and sell there also.  

 

[BullionBuyerUK]

Have you tried selling to the Oxford mint? They are not based in Oxford mind you, but they could be somewhere close to Birmingham or Dusseldorf . . . . Who knows

[DisplayName]

Opening a sideshow to the main act here: 

[Wanted]

1x gold 1/10oz Krugerrand that comes already in a capsule.

or

10x silver lunar dragon 2024 that are either tubed or otherwise protected adequately. 

Condition pref. BU

Require postage into regular Ireland. Will pay up front by bank in euros.

Highly reputable sellers only for now please. 

Thank you for reading.

[James32]

Just now, DisplayName said:

regular Ireland.

Is that in France?