Buying silver coins

ATC110

I've looked at buying from Goldcore however VAT is charged if you take delivery of the coins.

Is there any way of avoiding this such as buying from abroad?

daheff

one thing you should always ask when buying these is what price would they give you if you were to sell the coins back to them today (ie what is the buy/sell spread). that lets you know how much prices need to rise before you turn a profit.

IF they are charging VAT on sales, that's a big chunk needed before you break even.

Gussie Scrotch

https://www.boards.ie/discussion/2058325136/buying-silver-coins

Yes, silver bullion or coins incur VAT at the standard rate.

Gold bullion is VAT free.

So you need a significant increase in the silver spot rate to make money. Having said that, in my opinion silver is currently undervalued and has more upside potential than gold right now.

You may want to shop around on ebay for scrap silver, which can be worth a punt.

cobham

I looked at gold coins a couple of years ago and there was a mark up on 25% on buying back.

Gussie Scrotch

https://www.boards.ie/discussion/comment/121438428#Comment_121438428

You should be able to buy and sell close to spot.

Esho

Are gold Krugerrands still legal tender and in circulation or am I decades out of date?

Gussie Scrotch

https://www.boards.ie/discussion/comment/121438549#Comment_121438549

Don't know if they're still legal tender in SA but they are, without doubt, one of the most recognisable bullion coins.

I, personally, prefer Austrian philharmonics, for their purity, But Krugerrands, gold Eagles and sovereigns are popular.

Jane_Not His Real Name

Re Gold,

Is it best to buy and hold them yourself... physical possession.?..i.e. not let the provider store them (as they're is costs involved).

And Gold Bullion is VAT free when you buy in Ireland?

Any one like to recommend a company?

Or should I just go for lowest price available?

Tx

Gussie Scrotch

https://www.boards.ie/discussion/comment/121478082#Comment_121478082

Its best to buy and hold if the quantities are small. But you need to keep them well hidden.

You can rent a strong box at small cost for larger amounts.

Lots of Bullion dealers around.

They key thing is to take posession of the metal.

Jane_Not His Real Name

Many thx for your info Gussie....

treatyman

I see European Bullion has ceased for now anyway. Was my go to site ti purchase silver. To me it was the cheapest by far. Shame. No idea why they ceased.