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Best way to purchase physical silver?

  • 21-03-2022 4:43pm
    #1
    Registered Users Posts: 155 ✭✭


    As I type the spot price of an ounce of silver is 22.85 EUR

    To purchase a silver 1oz coin from Baird Mint (UK) it will cost you 26.96

    https://www.bairdmint.com/products/1oz-silver-britannia-2022-bullion-coin

    To make a similar purchase from Goldbank (Ireland) it will cost you Silver 33.45

    https://goldbank.ie/silver-coins/

    This is a significant difference, why I am not sure, maybe there is no refinery in Ireland? Regardless, paying nearly a third over the spot price by buying locally seems like a bad investment.

    After weighing this up I made a small purchase from the UK site but then got hit for additional taxes on importing of close to 20%. I had completed my purchase and only got notified of this through FedEx as my package was about to be delivered. I presume this is down to Brexit.

    This pretty much means there is little value to be had in purchasing from Ireland or the UK. I assume a purchase from another EU country wouldn't get hit with import tax. Is that the case? Any recommendations as to where best to purchase? I understand the reputation of the mint also an important factor.

    Any advice much appreciated!



Comments

  • Registered Users Posts: 192 ✭✭IWW2900


    How did you get on. Can just buy paper gold\silver.



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