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Buying silver

  • 17-05-2017 10:00am
    #1
    Registered Users Posts: 20 ✭✭✭ Haz619


    Hi all I know there are some threads already on this, but they are all out of date.

    I want to start collecting silver coins and bars, in the us there are several places to get them firstly just over spot but secondly with free postage.

    Is there anywhere you can buy from where for example one coin you won't be paying like 40€ for one coin by the time you actually receive it?

    Thanks in advance


Comments

  • Registered Users Posts: 20 ✭✭✭ Haz619


    Anyone have any ideas?:)


  • Registered Users Posts: 110 ✭✭ bogwarrior


    contact goldbank.ie ,1oz coin is about E20.50 . arrange to pick them up at no charge . check out their web site , its easy really .


  • Registered Users Posts: 20 ✭✭✭ Haz619


    Thank you, though I live in Waterford


  • Registered Users Posts: 110 ✭✭ bogwarrior


    ye , i got a few posted out still worked out better than ebay or the like .
    think it was E19. to post , i cant find better value around .


  • Registered Users Posts: 20 ✭✭✭ Haz619


    There is coininvest 20 they seem decent aswell


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  • Registered Users Posts: 641 ✭✭✭ Mach Two


    Out of curiosity. What does it cost to get a silver 1kg silver bar posted to you.


  • Registered Users Posts: 1,223 pro_gnostic_8


    Haz619 wrote: »

    I want to start collecting silver coins and bars, in the us there are several places to get them firstly just over spot but secondly with free postage.
    But in Ireland you're paying 23% above spot due to V.A.T., no?
    Across the E.U. VAT is payable on silver bullion and coin (except Estonia) which to my mind results in an investor always trying to play catch-up. You require a price increase in the price of silver of 23% just to break even on your investment -- tall order.

    Of the rare minerals, gold strikes me as a more efficient investment vehicle (no VAT).

    But it's your gameplay at the end of the day. :):)


  • Registered Users Posts: 641 ✭✭✭ Mach Two


    But in Ireland you're paying 23% above spot due to V.A.T., no?
    Across the E.U. VAT is payable on silver bullion and coin (except Estonia) which to my mind results in an investor always trying to play catch-up. You require a price increase in the price of silver of 23% just to break even on your investment -- tall order.

    Of the rare minerals, gold strikes me as a more efficient investment vehicle (no VAT).

    But it's your gameplay at the end of the day. :):)

    Are you actually saying that you pay vat on silver and not gold. Why so?


  • Registered Users Posts: 1,223 pro_gnostic_8


    Yes indeed, within the E.U., VAT is levied on silver ingots and coins at the national rate of the particular country where it is bought or sold. (Estonia is alone in not having VAT on silver).
    There is no VAT on investment gold within the E.U.


  • Registered Users Posts: 1,180 ✭✭✭ bren2002


    Bullionvault.com is also an option. You don't get physical possesion but you do get to invest in bullion.


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  • Registered Users Posts: 641 ✭✭✭ Mach Two


    I am thinking that now is not a good time to purchase gold. Prices seem quite high. Any advantage to going to the UK for it. As in currency exchange rates.


  • Registered Users Posts: 1,223 pro_gnostic_8


    I'm inclined to agree with you. Anyway, having gold is a bit like watching paint dry -- no real excitement of wild swings etc.
    And I don't think there is much material advantage in going to the UK for it.

    I like silver, but I'm not prepared to buy it with a built-in 23% VAT charge on it.


  • Registered Users Posts: 641 ✭✭✭ Mach Two


    If you did buy silver vat included would you get the vat back when you sell it. As for gold I wouldn't mind buying it and putting it in to deep storage. But at today's price it seems to be at the top of the curve. Is gold cheaper in other countries outside of the e.u..


  • Registered Users Posts: 498 ✭✭ Roonbox


    Ive been a believer in Silver for a number of years - for trading - 
    I was in the rally in 2011 up to high 40's and believe we will see 100 in the coming years.
    I am a buyer on pullbacks


  • Registered Users Posts: 641 ✭✭✭ Mach Two


    Roonbox wrote: »
    Ive been a believer in Silver for a number of years - for trading - 
    I was in the rally in 2011 up to high 40's and believe we will see 100 in the coming years.
    I am a buyer on pullbacks

    So you reckon paying 23% vat is ok. Or would you make vat free purchase. What is a pullback.


  • Registered Users Posts: 641 ✭✭✭ Mach Two


    I'm inclined to agree with you. Anyway, having gold is a bit like watching paint dry -- no real excitement of wild swings etc.
    And I don't think there is much material advantage in going to the UK for it.

    I like silver, but I'm not prepared to buy it with a built-in 23% VAT charge on it.

    When the UK leaves the EU will it be possible to buy silver without paying vat on it.


  • Registered Users Posts: 5,309 ✭✭✭ gavmcg92


    But in Ireland you're paying 23% above spot due to V.A.T., no?
    Across the E.U. VAT is payable on silver bullion and coin (except Estonia) which to my mind results in an investor always trying to play catch-up. You require a price increase in the price of silver of 23% just to break even on your investment -- tall order.

    Of the rare minerals, gold strikes me as a more efficient investment vehicle (no VAT).

    But it's your gameplay at the end of the day. :):)

    Are the profits for the sale of gold subject to CGT then?


  • Registered Users Posts: 641 ✭✭✭ Mach Two


    When selling silver do you get spot price or a fraction less. If less what percentage less.


  • Registered Users Posts: 48 ✭✭✭ CCMYPLAYMATE


    Don't know if your interested in this


    http://www.adverts.ie/13821732
    Haz619 wrote: »
    Hi all I know there are some threads already on this, but they are all out of date.

    I want to start collecting silver coins and bars, in the us there are several places to get them firstly just over spot but secondly with free postage.

    Is there anywhere you can buy from where for example one coin you won't be paying like 40€ for one coin by the time you actually receive it?

    Thanks in advance


  • Registered Users Posts: 1,917 ✭✭✭ bilbot79


    If you get Vat free silver posted from Estonia and sell it here do you have to pay the vat here?


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