Best place to purchase silver for investing?

DejaVu_10

I've recently done research on the trading methods of both gold and silver but I would preferably like to start with silver as it is a lot cheaper than gold. I've done research on both coins and 1 ounce bars but can't seem to find a reliable, cheap and efficient website to purchase them from. Has anyone managed to find a decent website? Cheers.

The Cuban

https://www.goldmoney.com/physical

Gold is better value than Silver at the moment

DejaVu_10

I've seen gold hold its value a lot better then silver but i find its easier to start buying silver at an early age of investing. I'm only 24 at the moment so not really made of money so trying to find a website to buy silver is harder then I expected.

scamalert

true gold is more precious and a bit more volatility, but as dejavu10 says its expensive and buying 1g which is flake not really much value when time comes to cashing out.Silver gives more $ per ounce, thus small increase gives decent returns and relatively low risk.Been thinking about buying small bars long time myself more of a hobby coins, anyway heres few sites from searching boards and others suggested in the past, best to keep it small as not to get hammered with vat and other taxes, buying few coins since some companies send discreet others not so.

https://www.coininvest.com/en/silver-coins/ark-noah/1-oz-noah-s-ark-silver-2016/
http://www.geiger-edelmetalle.ch/en/online-shop/all-products/silver/silver-bars/531/silver-bar-security-line-10-oz-.999-southern-cross?c=262

them two sites been in business for years so relatively safe and wide variety if starting small,since theres market for silver but certain mints hold more value then others,be it symbolic,memorial or origin country.

YossiA

I use Merrion Gold in Dublin, not sure if they do silver, bear in mind there is VAT on silver. They also have safe deposit boxes at their premises. Hope that helps.

phantom_lord

Buying physical metals is usually a mistake. Costs are very high.

goz83

I have ordered from www.europesilverbullion.ie a few times. In my opinion, you should be ordering a minimum of €500 worth of silver to offset the cost of delivery. The coin fare is also taking place at the RDS this Sunday, so it might be worth a look, because a number of dealers sell silver bullion and often at reasonable mark-up. This is ideal if you're only buying a small amount.

The Cuban wrote: »

Gold is better value than Silver at the moment

How did you come to that conclusion? It's a bit subjective and I personally think silver is the better choice unless you are spending big money and the storage of silver becomes a problem. If you spend €1000 on Gold, you are talking about the size of a €2 coin (easy to store). The same spen on silver and you will have a hard time fitting it into you pocket, because you are talking about 1.5 kilos. Also Gold is more dense, so takes up less space per gram.

phantom_lord wrote: »

Buying physical metals is usually a mistake. Costs are very high.

That is your opinion and you're welcome to it, but I completely disagree. The costs of buying PMs, like anything else requires some due diligence and research before buying.

Sticking to Silver for now, you are talking about €20 on average for an ounce...something like the canadian maple, or philharmonic can be easily found on any site, or dealer stand. You might pay a couple of euro over the spot price of digital/paper silver, but when selling, you will always recover that premium and then some. If the spot price remained the same, the premium tends to rise each year anyway, more so in Lunar series rounds than in coins, but coins still rise. For example; I purchased a silver panda round for about €21 in 2014 when the spot price was €2 less than it is now. The same round will sell today for €29 (so a €6 increase after you deduct the spot price shift, or an €8 increase when you allow the spot price increase).

Having physical silver (in relatively small amounts) is also a good idea to have handy. You can't just sell it at the click of a mouse, but it is fairly liquid if need be. You get to control the asset, which is a big attraction for many people. It's also really nice to look at and hold. You certainly won't get the same satisfaction form a silver certificate, or online account, which could be manipulated more so than the value of the physical metal.

Another option for the OP to buy silver is on Adverts.ie

The price will be a little higher of course in most cases, but that's because most buyers are spending under €100

Francie Barrett

As someone who owns some silver and gold I wouldn't recommend it unless you want a long-term store of value (5 years+) basically planning on never selling. If you are planning on buying and selling often, then the chances are you are going to get hosed as there is a very poor market for gold/silver in this country, so you're going to have to resort to buying and selling on Ebay and dealing with 15% selling costs and leakages due to postage.

cullenswood

Would silver or gold be a good idea to buy for a 10 year investment?

goz83

cullenswood wrote: »

Would silver or gold be a good idea to buy for a 10 year investment?

My attitude is to save in silver, so I would say yes. It's possible (like with any investment) that you could gain, lose or stay stagnant. It's certainly better than saving with crooks banks.

The Duke of Moral Hazard

https://www.youtube.com/watch?v=GEwuGHFF7qE

chipfox

Nice bit of discussion here. Bought a good bit of silver 2 years ago and sort of forgot about it. Looking to get back into it though.

Was it ever true that there's no VAT on silver if it's coins? I want about 100 philharmonics and they seem like good value from Guernsey. Don't want to risk getting nailed with VAT though. Could never really find out what the story was there.

Where do you all get silver coins?

goz83

chipfox wrote: »

Nice bit of discussion here. Bought a good bit of silver 2 years ago and sort of forgot about it. Looking to get back into it though.

Was it ever true that there's no VAT on silver if it's coins? I want about 100 philharmonics and they seem like good value from Guernsey. Don't want to risk getting nailed with VAT though. Could never really find out what the story was there.

Where do you all get silver coins?

I have ordered from bullion rock before, but the value was under £100 to avoid much higher postage costs and VAT being automatically applied.

Most of my orders have come form europe silver bullion and because it's coming from within the EU, there are no extra charges levied. You're looking at under 2k today for 100 phillies

scheister

goz83 wrote: »

I have ordered from www.europesilverbullion.ie a few times. In my opinion, you should be ordering a minimum of €500 worth of silver to offset the cost of delivery. The coin fare is also taking place at the RDS this Sunday, so it might be worth a look, because a number of dealers sell silver bullion and often at reasonable mark-up. This is ideal if you're only buying a small amount.



How did you come to that conclusion? It's a bit subjective and I personally think silver is the better choice unless you are spending big money and the storage of silver becomes a problem. If you spend €1000 on Gold, you are talking about the size of a €2 coin (easy to store). The same spen on silver and you will have a hard time fitting it into you pocket, because you are talking about 1.5 kilos. Also Gold is more dense, so takes up less space per gram.



That is your opinion and you're welcome to it, but I completely disagree. The costs of buying PMs, like anything else requires some due diligence and research before buying.

Sticking to Silver for now, you are talking about €20 on average for an ounce...something like the canadian maple, or philharmonic can be easily found on any site, or dealer stand. You might pay a couple of euro over the spot price of digital/paper silver, but when selling, you will always recover that premium and then some. If the spot price remained the same, the premium tends to rise each year anyway, more so in Lunar series rounds than in coins, but coins still rise. For example; I purchased a silver panda round for about €21 in 2014 when the spot price was €2 less than it is now. The same round will sell today for €29 (so a €6 increase after you deduct the spot price shift, or an €8 increase when you allow the spot price increase).

Having physical silver (in relatively small amounts) is also a good idea to have handy. You can't just sell it at the click of a mouse, but it is fairly liquid if need be. You get to control the asset, which is a big attraction for many people. It's also really nice to look at and hold. You certainly won't get the same satisfaction form a silver certificate, or online account, which could be manipulated more so than the value of the physical metal.

Another option for the OP to buy silver is on Adverts.ie

The price will be a little higher of course in most cases, but that's because most buyers are spending under €100

www.europesilverbullion.ie is coming up as a dead link but their is a .com version which i assume you meant.
Its seems a decent site. paying about €4 above spot on silver. What I would look at doing is they offer 6 months free storage. So I would this to build up my reserves dont have €500 as you suggest to use in one go and then every few months get them to deliver to me in bulk

goz83

scheister wrote: »

www.europesilverbullion.ie is coming up as a dead link but their is a .com version which i assume you meant.
Its seems a decent site. paying about €4 above spot on silver. What I would look at doing is they offer 6 months free storage. So I would this to build up my reserves dont have €500 as you suggest to use in one go and then every few months get them to deliver to me in bulk

Yes, it's a .com, my mistake.

If using their free storage, be sure not to forget your login details

Also if buying small amounts, you can always buy from some of the people on adverts. You can get decent value and I have also sold a few pieces there. The amount above spot is relative to the type of round/coin/bar being purchased. Many will increase their premium year on year.

chipfox

goz83 wrote: »

I have ordered from bullion rock before, but the value was under £100 to avoid much higher postage costs and VAT being automatically applied.

Most of my orders have come form europe silver bullion and because it's coming from within the EU, there are no extra charges levied. You're looking at under 2k today for 100 phillies

If you keep it under £100 VAT is automatically applied? Or did you prepray VAT? I looked into their postage a few years back I thought the best value was getting a big order. Don't want to drop €2,000 only to get hit with VAT.

Is it basically a lie that VAT doesn't apply to silver "currency"? I remember reading it everywhere but nothing was definitive.

I just looked into europesilverbullion.com there and their prices seem fairly good. Is VAT already paid on these or what's the deal? The maples are even cheaper than the philharmonics...

edit: seems these estonian lads offer a very similar price to bullionrock (the guernsey mint) but there are no worries about vat? seems like a no brainer