Buying silver

jdpl28

Hi,

looking to buy silver - preferably coins. And it seems much more expensive to get them in Ireland than in say the states. For instance:

1Oz Silver Philharmonic:
- on ebay - about 22 euro per coin
- on ATS Bullion (London based company) - 20 euro per coin
- billiondirect.com - 12.50 euro
- goldsilver.com - 13.25 euro

Is there anywhere I can get some of these coins at a more resonable price without going to the states? Bullion direct/goldsilver.com don't ship overseas.

thanks,
Justin

silverharp

remember you normally have to pay VAT on top unless they junk bags of pre 65 coins. Although I managed to import a 100oz silver bar a few years back , I think they just didnt know at customs what they were dealing with.
Gold.ie might be worth talking to.

What is you investment objective?

jdpl28

silverharp wrote: »

remember you normally have to pay VAT on top unless they junk bags of pre 65 coins. Although I managed to import a 100oz silver bar a few years back , I think they just didnt know at customs what they were dealing with.
Gold.ie might be worth talking to.

What is you investment objective?

you sure you have to pay import tax on silver? i read somewhere that you can import gold/silver without any import tax?

was thinking of buying silver from the states online. will customs sting me when it lands in Ireland?

silverharp

jdpl28 wrote: »

you sure you have to pay import tax on silver? i read somewhere that you can import gold/silver without any import tax?

was thinking of buying silver from the states online. will customs sting me when it lands in Ireland?

there is no VAT on Gold but unless the silver is pre circulated there will be.
http://www.taxfreegold.co.uk/silver.html

your best bet would be a goldmoney.com account where you can hold the silver in an online account. You will be able to get it closer to spot.

donovanb

Hi

I purchased silver buillion on http://www.apmex.com/ -- i am awaiting receipt of the coins but the service so far is very good. I only paid $1.99 over spot and the coins are being delivered to Ireland ($175) -- the delivery is a lot less than the high mark up of European dealers and the 17.5% VAT on UK dealers. (i think it is 7% in Ireland [see below]).
There is a min $1500 order but the $175 delivery cost above was on a much larger order.

You can also get bullion from a Dutch supplier but the min order is the 500oz boxes issued by the mints -- www.thesilvermountain.nl

It is difficult to find proper information on the VAT and duty requirements of Irish Imports but I did the following -- but i am unable to validate it yet -- http://goldsilver.com/international_shipping.php

Ireland

Shipping, Handling & InsuranceCustoms, Taxes Or Fees (Responsibility of Purchaser)

100 oz Silver

$115.0000*

500 oz Silver

$275.0000*

10 oz Gold

$135.0000**Shipping may vary with metal type and quantityMaximum Delivery Per Address Per Day: $15000.0000

Silver (legal tender .999):

7.00%

Silver Rounds & Bars:

19.00%

Gold

0%
lastly I would really recommond Mike Maloney's book on GoldSilver.com --- it really is a superb book if you are really interested in silver/gold investing.

collw2

HI,

I Have been thinking on investing in silver bullion coins?
is purchasing off eBay a smart move ? (I understand the risks, trust the dealer ect...) dose it matter as long as they are .9999 quailty and odd 1 oz, which site they come from??

also excuse my ignorance if seams like a stupit question but dose orgine of the coin matter? american eagal? Canadian maple??

Regards.

robbyvibes

i would avoid ebay and use a reputable seller instead.

the price for maples tend to be lower than eagles, atleast from what i can tell. germany appear to be the cheapest place in eu for silver/gold bullion coins.

the austrian philharmonics are a little cheaper again.
apples and oranges really, if you want chinese pandas or somalian elephant coins, you will have to pay higher prices.

i could recommend geiger edelmetalle but there are cheaper sellers although the cheapest sellers usually have a minimum order requirement, for example GE is E300

check gold.de

if you do go the ebay route, you can spot fakes quite easily once you know a few things such as weight,thickness,diameter..if there are discrepancies from official mint specifications, it's almost certainly fake.

JonDoe

I'm looking to import 1oz silver philharmonics from switzerland, suissegold.cf .Does anyone know will I get screwed for Vat and or Duty on delivery.
The coin is legal tender with a face value of €1.50
Any Experience out there!!

djkelly99

Anybody have any dealings with Geiger Edelmetalle? I'm interested in placing an order for silver coins. I see they ship to Ireland and only charge the 7% VAT rate. It would definitely seem more applealing than buying in the UK at 20%.

turbobaby

djkelly99 wrote: »

Anybody have any dealings with Geiger Edelmetalle? I'm interested in placing an order for silver coins. I see they ship to Ireland and only charge the 7% VAT rate. It would definitely seem more applealing than buying in the UK at 20%.

They don't ship to Ireland atthemo.

Taken from their site:

geiger-edelmetalle.de wrote:

Shipping to Sweden, Finland, Bulgaria, Austria, Spain, Ireland and Great Britain is not available at the moment. Please contact us under the following telephone number: +49 (0) 34297 - 96 69 23. Thank you in advance. Shipping costs Switzerland, Norway

upon enquiry,
Minimum order value 5,000 €

turbobaby

Fergal, I strongly believe that Silver purchasing is a must at the moment, be it through physical ownership or precious metal miners.

If you've not listened to or read any of Bob Chapman's stuff, I suggest you and other Boardsies look him up. Fascinating insights into the world.

pirelli

turbobaby wrote: »

Fergal, I strongly believe that Silver purchasing is a must at the moment, be it through physical ownership or precious metal miners.

If you've not listened to or read any of Bob Chapman's stuff, I suggest you and other Boardsies look him up. Fascinating insights into the world.

You could also trade the highs and lows with this....

AGQ is aProShares Ultra Silver (ETF) (Public, NYSE:AGQ)

ProShares Ultra Silver (the Fund) seeks to provide daily investment results that correspond to twice (200%) the daily performance as measured by the United States dollar fixing price for delivery in London.


&

ZSL for the lows

ProShares UltraShort Silver (ETF) (Public, NYSE:ZSL) ProShares UltraShort Silver (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of silver bullion as measured by the United States dollar fixing price for delivery in London.

turbobaby

pirelli wrote: »

You could also trade the highs and lows with this....

AGQ is aProShares Ultra Silver (ETF) (Public, NYSE:AGQ)

ProShares Ultra Silver (the Fund) seeks to provide daily investment results that correspond to twice (200%) the daily performance as measured by the United States dollar fixing price for delivery in London.


&

ZSL for the lows

ProShares UltraShort Silver (ETF) (Public, NYSE:ZSL) ProShares UltraShort Silver (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of silver bullion as measured by the United States dollar fixing price for delivery in London.

Hey Pirelli

There are rumours coming out of the States that the Silver ETFs do not hold sufficient levels of physical silver should physical redemption and delivery be requested from each shareholder. Also, the Offering Memoranda of these ETFs have many "get out clauses" for the trustees of the silver. I would avoid...

Fr Dougal Mcguire

hi lads

i was looking at silver and i must say im confused..... hopefully one of ye can point me in the right direction.

was looking on gold.ie and the options for buying silver are
1. Certificate
2. Coins
3. Silver Bar

Which is the best to buy???
If for example you invested €2000 and bought 10, 10oz silver bars, what kind of profit could you reasonably expect to make??

Is selling them at a later date as easy as a phone call or is it a bit of an ordeal.

Is silver rising that fast??

Would you be better off buying 2 one oz gold bars for the same money

Thanks in advance
Dougal

dathi1

Don't buy certs or ETFs. Buy physical and go long term. Buy on the dips not on the highs. Goldmoney, Bullion vault etc for online physical or SuisseGold.Ch or whomever for actual physical.

LadyUmbrella

Anybody know where one can get some silver bullion in Dublin/Ireland?

toxof

Goldcore on Fitzwilliam Square

Quiet you

This may well be a stupid question but what doyou do when you have the gold? leaving out the places that hold it for you I mean.

Jesus Wept

turbobaby wrote: »

Hey Pirelli

There are rumours coming out of the States that the Silver ETFs do not hold sufficient levels of physical silver should physical redemption and delivery be requested from each shareholder. Also, the Offering Memoranda of these ETFs have many "get out clauses" for the trustees of the silver. I would avoid...

Isn't that not the idea of an EFT, that they track the price, not hold actual silver?

divot

dathi1 wrote: »

Don't buy certs or ETFs. Buy physical and go long term. Buy on the dips not on the highs. Goldmoney, Bullion vault etc for online physical or SuisseGold.Ch or whomever for actual physical.

I've been looking at this - no PMs at the moment, but I'm going to be across on the continent in the next few weeks flying with work, I was thinking of walking in and buying some silver coins while I'm there. Couple questions for those that have experience!

1 - I'm happy to buy and hold physical for the long term. I don't have choice of when to purchase because I'm going there on a pre-planned work trip, it might be another year before I'm back on the continent. After the price surge in the last year, is it a stupid time to buy? Or am I as good now as ever, considering I'm happy to buy and hold...?

2 - What is the situation with Silver coins coming back through Dublin Airport? If I'm not intending to sell them and will have less than €10K worth, and have paid VAT already inside the EU (albeit at a less than 21% rate) - then is it declarable, or can I just walk through? (I mean, obviously I can physically walk through if noone stops me, I'm just wondering what's the official duty/VAT situation on silver coins, <€10K, purchased VAT-paid in the EU...)

thanks to anyone who knows!

dathi1

1 - I'm happy to buy and hold physical for the long term. I don't have choice of when to purchase because I'm going there on a pre-planned work trip, it might be another year before I'm back on the continent. After the price surge in the last year, is it a stupid time to buy? Or am I as good now as ever, considering I'm happy to buy and hold...?

The Future on any investment cannot be predicted and Silver has been like a roller coaster on the way up for the last year especially. They don't call it the devils metal for nothing. You'll probably need therapy after a while . At the rate they're printing Dollars in the states and instability being the order of the day worldwide its a good bet against inflation long term. There may be good buying opportunities with major corrections in the next few weeks but in my books its gonna rocket to the stratosphere.


I suppose it's the same as any other EU goods. Bring the recipt with the vat on it in case you're stopped.

dathi1

I rang Goldcore and they told me they no longer ship physical silver to Irish customers. They will hold it in a vault abroad for a fee though.

Mr. Loverman

dathi1 wrote: »

I rang Goldcore and they told me they no longer ship physical silver to Irish customers. They will hold it in a vault abroad for a fee though.

Sure you may as well use a cheaper competitor so.

whiteonion

If you buy physical silver in Ireland from a shop, how much would the premium be including VAT?

How high is it reasonable to see silver going to before the bull market is over? $100?

dathi1

If you buy physical silver in Ireland from a shop, how much would the premium be including VAT?

How high is it reasonable to see silver going to before the bull market is over? $100?

Most Silver commentators recommend not paying 6% above spot for coins. I haven't seen this from any Irish dealer. One prominent dealer is charging 12% + online.

Bullion Vault and Goldmoney have good rates but your metal is held in vaults abroad. But its still 100% physical ownership.

This bull market has only begun its 3rd phase according to some analytics. The public will jump in on mass at 120+

I'm holding out for 720+

No I am!

turbobaby

Just to let everyone know, there's no VAT charged on silver bullion coins in Norway.

LadyUmbrella

I share your enthusiasm and hope Daithi and am also holding out for many multiples of the current price, 720e, if the analysts (Keiser, Chapman, Jones et al) are to believed may not be beyond the realms of possibility..

Anyway, I've been trying to find silver in Dublin for the last few weeks - it has been a somewhat thankless ordeal..I've had to resort to getting silver from Canada, the US and Germany and eating all sorts of shipment charges..But, today, I stumbled upon one place that had 1 ozt silver rounds, some silver eagles and others and they were looking for, wait for this, 75 EURO AN OZT!! Madness...I promptly said good luck and continued on the trek for silver and came across a place in Georges Street Arcade called "Lir Coins and Collectables" where they have silver. I got a 1 oz .925 coin for 30e today from them - not a shocking deal (especially when compared to 75e for an ozt) and they seem like nice people. They are also trying to acquire more silver rounds and have started up a waiting list (seems like the silver bug is starting to bite, viva el SLA) for those who want them...All in all, if you're looking for silver worth calling in to them..

Also, big news, Max Keiser is coming to Dublin! He will be here this Wednesday the 13th April and will be talking at the Grand Social (formerly Pravda) at about 8 bells...He says he'll perform a miracle (?)..More info here - http://maxkeiser.com/2011/04/10/attention-sla-dublin-max-keiser-is-coming-next-week-as-part-of-the-f-jp-morgan-silver-liberation-army-tour - he may have some Silver Keisers with him...

ravima

there has been a very large PUT option placed on a fall on silver price for JULY 2011.

LadyUmbrella

True Ravima...Was reading about it here - http://www.zerohedge.com/article/drop-silver-attributed-1-million-37-downside-bet-slv - they (other investors) are not too concerned...

dathi1

Also, big news, Max Keiser is coming to Dublin! He will be here this Wednesday the 13th April and will be talking at the Grand Social (formerly Pravda) at about 8 bells...He says he'll perform a miracle (?)..More info here - http://maxkeiser.com/2011/04/10/atte...tion-army-tour - he may have some Silver Keisers with him...

See you there!

willietherock

why would anyone touch silver with a bargepole considering the massive run price run-up it has undertaken?

turbobaby

willietherock wrote: »

why would anyone touch silver with a bargepole considering the massive run price run-up it has undertaken?

Without wanting to sound too condesending, that is an absolutely awful approach to investment.

Consider any company or commodity that has increased massively in price.

Oil, Google, Berkshire Hathaway, Coca Cola, Gold etc.

Its called a flight to quality. Good investments merit continued purchase and increased prices. You may feel that youve missed the boat cos you have not got in at the bottom but I can assure you theres a long way to go yet.

You would probably have said the same thing about all the best investments in history when they doubled in value for the first time.

If you want to buy something cheap, take a look at BoI at an all time low!

willietherock

turbobaby wrote: »

Without wanting to sound too condesending, that is an absolutely awful approach to investment.

Consider any company or commodity that has increased massively in price.

Oil, Google, Berkshire Hathaway, Coca Cola, Gold etc.

Its called a flight to quality. Good investments merit continued purchase and increased prices. You may feel that youve missed the boat cos you have not got in at the bottom but I can assure you theres a long way to go yet.

You would probably have said the same thing about all the best investments in history when they doubled in value for the first time.

If you want to buy something cheap, take a look at BoI at an all time low!

Isn't it a bit of a stretch to compare Silver to a handful of the greatest public companies of all time.
What is the recorded long-term return of Silver as an investment over the years?

Mr. Loverman

willietherock wrote: »

Isn't it a bit of a stretch to compare Silver to a handful of the greatest public companies of all time.
What is the recorded long-term return of Silver as an investment over the years?

The US are using inflation to devalue their debt and prop up the stock market bubble, so money will continue to flow into commodities like gold and silver. Are you familiar with quantitative easing? (QE).

What's happening is something like this:

Money money money into dot com stocks
Oh no dot com stocks are losing their value, I'm getting burnt, where will I put my money?
Money money money into property
Oh no all properties are losing their value, I'm getting burnt, where will I put my money?
Money money money into stocks and commodities

Now this is where it gets interesting.

1. People tend to get burnt when the average Joe gets on board. That is when you're in bubble territory.
2. The US has no choice but to continue with QE (because they can't raise interest rates). The extra money is doing lots of things, but one of the big consequences is rising stock prices. It is also causing commodity prices to rise, but for slightly different reasons, one of the main ones being the fact that commodities are genuinely worth something (e.g. silver is used in industry) whereas paper (e.g. stocks) could lose all their value.

If I had to guess I would say QE will cause commodity prices to continue due to the fact that the Fed in particular are in big trouble. They have no exit strategy. It's either continue printing money and buying their own treasuries (which will eventually lead to hyperinflation when the Chinese etc. decide to dump their dollars, etc.) or raise interest rates which will kill the economy.

Yes I agree the price of silver looks high but the fundamentals causing its high price are sound.

turbobaby

willietherock wrote: »

Isn't it a bit of a stretch to compare Silver to a handful of the greatest public companies of all time.
What is the recorded long-term return of Silver as an investment over the years?

Silver has been around a hell of a lot longer than any company on earth.

Have you ever heard of a chap called Judas? While not religious myself, others are, and believe than Judas gave up the Son of God for a few pieces of silver!

Anyway, silver has been recognised as an asset since it was first discovered, while it also has many many industrial uses.

Mr Loverman alluded to it very well in the post above, all major fiat currencies are weakening against precious metals (amongst many other commodities) because their supply is finite and because the fiat money supply is expanding at a massive rate to paper over the cracks of a crumbling global economy. It's not a very difficult concept to understand.

If the US stops QE, stocks will plummet.

The Fed is buying 85% of US Treasuries now. Things are not looking good for the "Land of the Free".

colsku

Id say it was removed if you were trying to sell on here. The mods prefer if you sell stuff on adverts.ie

Theres plenty of people in Ireland looking to buy silver and gold so it wouldnt be any harm if you put a link up for your site when its ready. Others on here have recommended dealers in the EU. Personally, I get mine from the States. Just need to figure out the best way to get it home!

Out of interest, how much do you charge over spot?

Ricky92

yah does any 1 know where you can buy silver in Cork????? Keanes sell it silver bullion but only 1 kg bars. I'm looking for silver coins or rounds?

Feenx

On a related note, does anyone know of people buying silver coins in the Cork area? I've got some Eagles/Maple Leafs and would rather not trudge up to Dublin to sell them.

novatech95

There is loads of sites that sell silver and ship to Ireland the big question is if you buy the silver inside the EU will customs make you pay a hefty price or is it ok inside the EU also do you have to pay a charge on getting it from the states

Feenx

Yes, you do have to pay VAT if your shipment is stopped by customs. Used to be that coin was taxed at a lower rate, since it was considered as currency - 9/10% I think I've paid before. But now I think you have to pay full VAT.

novatech95

Thanks,so does that mean that even if you pay vat Whn buying the silver you have to pay it again when it reaches ireland

colsku

If you pay VAT in the EU, you DO NOT need to pay it again upon entry to Ireland. Free Market!

Does anyone know what the catch is with Goldcore.ie silver coin prices!? They seem too good to be true, I suspect massive delivery prices.

colsku

colsku wrote: »

Does anyone know what the catch is with Goldcore.ie silver coin prices!? They seem too good to be true, I suspect massive delivery prices.

To answer my own question, I found outfrom the horsesmouth that it is not possible to receive physical delivery. They hold the coins for you in Switzerland. :eek:

digme

colsku wrote: »

To answer my own question, I found outfrom the horsesmouth that it is not possible to receive physical delivery. They hold the coins for you in Switzerland. :eek:

sure they do

NatNut

donovanb wrote: »

Hi

I purchased silver buillion on http://www.apmex.com/ -- i am awaiting receipt of the coins but the service so far is very good. I only paid $1.99 over spot and the coins are being delivered to Ireland ($175) -- the delivery is a lot less than the high mark up of European dealers and the 17.5% VAT on UK dealers. (i think it is 7% in Ireland [see below]).
There is a min $1500 order but the $175 delivery cost above was on a much larger order.

You can also get bullion from a Dutch supplier but the min order is the 500oz boxes issued by the mints -- www.thesilvermountain.nl

It is difficult to find proper information on the VAT and duty requirements of Irish Imports but I did the following -- but i am unable to validate it yet -- http://goldsilver.com/international_shipping.php

Ireland

Shipping, Handling & InsuranceCustoms, Taxes Or Fees (Responsibility of Purchaser)

100 oz Silver

$115.0000*

500 oz Silver

$275.0000*

10 oz Gold

$135.0000**Shipping may vary with metal type and quantityMaximum Delivery Per Address Per Day: $15000.0000

Silver (legal tender .999):

7.00%

Silver Rounds & Bars:

19.00%

Gold

0%
lastly I would really recommond Mike Maloney's book on GoldSilver.com --- it really is a superb book if you are really interested in silver/gold investing.

Hi donovanb, Any chance of an update on the Tax issue of your silver purchase? Your post was very helpful. Thanks, NatNut.

ChantalR

NatNut wrote: »

Hi donovanb, Any chance of an update on the Tax issue of your silver purchase? Your post was very helpful. Thanks, NatNut.

My shipment arrived in country this morning. Shipped via FedEx and I received a phone call. I have had to pay vat on the shipment, worked out at €4 per ounce. Waiting to see if the shipment is called by Customs.

Postman Pat

Hi there ChantalR

Where did you get your silver do you mind me asking?

Thanks

irishh_bob

Postman Pat wrote: »

Hi there ChantalR

Where did you get your silver do you mind me asking?

Thanks

you can buy silver in cert form through goldcore , saves on stamp duty

goldcore 01 6325010

Slozer

Postman Pat wrote: »

Hi there ChantalR

Where did you get your silver do you mind me asking?

Thanks

Purchased some from Suisse gold http://suissegold.ch/home.php
I got the Austrian Philharmonics 1oz.
When they arrived here the deliver guy said there was a customs charge which worked out at about 10% of the total cost. I told them since they were legal tender there was no excise duty etc on the coins.(the silver phlharmonics are marked 1.50 euro). They were sent back to customs for inspection and they did not charge the excise duty. So I had nothing to pay.


It cost me about 2 euro over spot for each coin + shipping.

eire2009

Slozer wrote: »

Purchased some from Suisse gold http://suissegold.ch/home.php
I got the Austrian Philharmonics 1oz.
When they arrived here the deliver guy said there was a customs charge which worked out at about 10% of the total cost. I told them since they were legal tender there was no excise duty etc on the coins.(the silver phlharmonics are marked 1.50 euro). They were sent back to customs for inspection and they did not charge the excise duty. So I had nothing to pay.


It cost me about 2 euro over spot for each coin + shipping.

What did you think of suissegold, obviously you got your bullion so it cant be that bad. Im waiting a while now for them to send the money back into my account from bullion I had stored in their vaults(starting to get a bit )

Good deal on the Phil`s tho. But if there legal tender you dont own them the issuing government does, even if you melt them legally your destroying government property :rolleyes:.

Its a nice legal loophole so governments could actually confiscate any of the bullion back its happened to gold in the past in America..

novatech95

I thought if you import it from the eu your only paying 7 percent vat on legal tender and if that's not the case just get the silver from the states and there will be a 7 percent charge which would work put at around 34 euro for a Philly or a eagle.and would you not just melt them if the government were out to confiscate them.I was on a Irish website the other day and it had no minimum order and was about 38 for a silver eagle and 39 for a Philly it's down at the moment but seems to be a decent site and it's based in ireland