wow that is crazy! i had no idea you guys had to pay so much in tax over there. I live in Oregon, USA and we don’t have to pay sales tax on any purchases at all so I i’ll consider myself extremely lucky!
Yes, we're very lucky here in the US. I can buy silver all day at $1.50 over spot. There are also a bunch of site who sell 10 ounce bundles at spot, trying to get your business
I’m amazed there is much of a silver community in the UK with the premiums on it. I’m not sure I would be buying silver over fractional gold. I should send some silver home with my sister in law when she is over from the UK this Christmas so she can resell it !
I am kind of in-between. I don't stack high premium coins nor generics. I have gone with sticking with government minted coins. I have at least 20 from Mexico, the UK, Australia and Canada but primarily Silver Eagles. When the 2018 BU silver Krugerrand are released I'll pick up 20 of them as well. I did buy 5 of the Oriental Border Britannia because I really liked them.
The 1/3 of the cost of my silver purchases goes for delivery so to get it delivered at my door i pay $7.00 over spot. Americans like me only buy Beautiful coins. Generics are rough. I have 2 britiannas in my possession now.
Same problem in Germany, high tax for silver (especially round and bars) and no Ebay bucks. That's why I switched more to gold. Silver prices like in the US would be awesome.
Taxes on honest, hard money makes absolutely no sense! That's why many US states are eliminating tax on bullion. The constitution states all transactions are to take place with gold or silver! EU governments are all so over bearing!
Lately, I am coming around the the view that a better name for the Royal Mint would be the "Right Royal Rip-off". Even before the VAT is applied, silver bullion coins (such as the silver Britannia coins), still cost well above spot price. After VAT, the silver can cost double the spot price. A single one ounce Britannia costs £24.52 plus £5 delivery plus £5.90 VAT which comes to £35.42. This is more than double the current spot price of approx £17.00. Of course, there are discounts for bulk purchases (plus free delivery) but, even when buying 100 coins, the price per coin is £23.18 (plus VAT) which isn't much of a discount and is still a substantial markup versus the spot price.
There is most certainly a difference in stacking mantras on either side of the pond. For me, the premium is just something to accept. Anything under £16 per oz is totally acceptable to me. But at those prices you are looking at the basic government bullion issues or generic silver. I don't touch generic silver coins but in the US generic silver is a huge thing. My stack is a mix of cheap government bullion (Maples, Phils, Eagles etc) and more interesting pieces with a little more premium on them (Atlantis mint and PG&G bars, Umicore bars etc). I never buy high premium silver no matter what.
everyone has a different strategy, i would buy the cheapest way possible also like a big load of silver coins from earlier years in discount, sometimes if i m really interested in one coin, and high premium i would buy it just to admire it.
One thing I'd like to add; as a European, I'm also jealous of the affordable or free shipping fees they have in the US. Majority of the european retailers seem to charge around 20€ or more for shipping, which is brutal if you don't buy PMs in big quantities. I'm from Finland, and often look to get VAT-free silver from Estonia, but I'm not terribly keen on paying 20€ shipping for a order of 100-150€. Remind you, the distance between Finnish and Estonian coastal lines is around 120 kilometers. Meanwhile in the US, someone from Seattle can place an $99 order from Apmex in Alabama and get a free delivery for it. Oh, how unfair life can sometimes be...
Yes this is a pretty horrible situation. The same is said for us over here in the UK. For small orders it would almost be cheaper for you to order via me and have me post the silver to you! Probably save you about €10!
Suppose if spot price went up to £25 or even £30 in future years the 20% vat we all love and expect to pay would make selling very nice here in the UK.
Well this is very true, when you're private seller selling on eBay for example, you don't have to charge VAT but the market pays a certain price which is what they would have to pay otherwise, so if the cheapest coin somebody can get this £35, they will probably pay £35 for your coin off eBay. Which is why the VAT premium stays in the UK for us
Love my Brit’s across the pond. I was just watching a documentary on how far our partnership goes. Back to the 1900s and WWI WWII on how we bled together
In EU en general you should be able to find silver at "only" 10-15% over spot. There are a few countries in EU where investment silver is VAT exempt. Typically as coins with monetary denomination. Purchase directly from their websites to avoid greedy eBay fees.
The US stackers also seem to have lots of "local coin stores"... We have dealers in the UK dotted around but apart from something like a cash converter we can't just pop down the high street and go and buy a few britannias. Don't know if they are that common in America but sounds like it. Does that suggest stacking is more common over the pond?
the way you get around the silver sales tax is because you're not buying anything, just an exchange of money, the britanias for example are stamped £2.00, there's no sale. the "dealer" is just changing your money. atleast for gov coins. in the US we still pay tax for non gov silver.
The difference between the US silver stacking culture and the UK is the US has a silver saving culture and UK doesn't. It's only when you get to have the shiny weighty coins in your hand you feel how nice it would be to get some of your own.
Governments and their greed really determine how we stack and how we go about trying to avoid any taxes we can. The black market was born from government greed. It most certainly won't be going away at any time in my life. I don't have much of a plan at all. I have a limited income and at month end get a treat if there is a treat left. My pouring sort of supports itself but there really is no windfall in it for sure. Thanks for this bud. Always a nice visit with ya.
Well this is the thing tax avoidance and tax evasion is only there when people perceive tax to be too much. For us we're not really doing anything wrong and we're just taking advantage of the European Union whilst it lasts. It is what it is though thanks for stopping by my friend for the fantastic weekend
Whatever the price, it's better than having your wealth in a bank. The bank owns our money here, I think you have the same system there. I've listened to people talking about banks in the UK, an that's what I got out of it. Just get your money out of Banks! It's a number they can play with and as well as with your life.
A bank can ban you and seize your money at any time it wants with no notice, it only has to claim it thinks you are laundering money. No evidence is needed.
Only bought a bit of silver here in the UK, just for that reason...it's not economical with the amount of VAT we have to pay. But still, whilst it's on the low end I did buy, but I'm not sentimental about it, and to be honest, when it does swing back up in the future, I'll sell nearly the lot of it, and with it just buy some more gold with it...so basically the silver at this cheaper price now is just a hedge to be able to help me buy a coin or two of gold later on. That's my strategy anyway.
I believe, that if I lived in the UK, I would consentrate more on stacking gold. Most people lose money trading stocks, even with the small commissions paid. I can't imagine that the average person would be successful in flipping coins with 30% premiums.
It is possible, a lot of the premiums that we pay are repaid on the secondary market simply because nobody can get coins for any less so they still pay a decent price for it.
Even with Brexit the UK will keep a lot of trade agreements with Europe not doing so will simply cost to much. Doing a trade deal with the us at this time would not be the best idea. there should be a yearly tax refund for silver wen it is under 10.000 pounds this should be easy and would not effect private collector's
One would hope there would be trade agreements in place. It will cripple a lot of businesses here and abroad if not. The problem would be no deal in place and falling off a cliff. Terrible situation if that happens.
the government should have a clear plan for the future regarding Brexit but they are still looking what to do. Maybe getting rid of all your silver and keeping with gold is the best idea and for white metals there is always platinum. Wen the plans are clear about what is about to happen with silver, getting some advise from a tax expert on full refunds for that 40% would be logic. I hope the best for Brexit because what happens in the UK will effect the rest of the world. I honestly find this news shocking that a government would put 40% tax on it citizens that's just criminal. I wish you a very fine day
True.. I like to pickup up 10oz bars when they are marked down to 50 cents per oz over spot, but realize when I sell them I'm not going to get a premium. Eagle premiums stick when you sell them, but are lost in fees to eBay or some other platform. My local coin shop will NOT pay me a premium for eagles, he buys them at 2% below spot. Also, several states in the US charge local state tax - Today's U.S. price for an Eagle is $22.49 at a local California coin shop after tax and premium. Same coin would be bought back for $16.07.
Even in the US there is quite a range of stackers. From bullion only to coin only. Then add in the options for various "art" sets, of which many are outstanding, and of course numismatic influences, too. My guess is that we have an easier time of expanding our interests or diversifying our stacks without absorbing any costs beyond the premium. What I am wondering, does this limit the income income range more in the UK? AS in, who could sensibly begin to stack without taking food off the table. Great video as always. Oh, and let me see, a quid is a pound which is ....
As a Canadian, I'm kind of stuck in the middle. I do get good prices on both gold and silver, but I have to pay in highly devalued Canadian dollars, which are just as hard to acquire as when they were at par with the US dollar. So that, in effect, puts an additional 30% premium on all my purchases. In 2011 when the Canadian dollar was higher than the US dollar, I sold a lot of silver and got less than my American cousins, so it is always difficult. Nevertheless, I am a dedicated stacker and believe that these differences are small compared to the insurance and security I get from holding precious metals. I might add that gold has given the better return of the two metals and when I convert my past expenditures over the last 34 years to today's dollars using inflation calculators, my average purchase price is US$969 per ounce, (vs US$1268.90 now). Obviously it has done better than just keeping up with inflation.
First of all, congratz on 5K. At least you aren't in Croatia - cheapest 1oz coin is 60% over spot, and when selling back you'll be happy if you get 90% of the spot. No silver for us :D Gold can be bought for 5% - 10% over spot, but minimal wage here is around 1/4oz and median is 1/2oz. So only remaining option is the purchase of 1/10 oz Philharmonics and small Ducats.
Hey what do you think about platinum right now did you see the price of it very cheap $874 an ounce And palladium is that 955 an ounce When gold is At $1271 an ounce
This might be due to American's ordering 500 ounces of generic, and the English ordering a handful of Premiums. Just a guess. However, that Royal mint coin is beautiful, I might have to order 1,000 or so....Thanks mate.......
my local shop sells secondary market coins all are 24 pounds each its quite cheap this is how i buy my silver he buys for 21 hes a legend and i dont mean a foot
British coins are beautiful and to me are worth the premium. If I'm going to pay a sizable premium the art on the coin needs to match the price. However, since we have options, why would I pay more for an oz when I could get at spot or at low premium? It's just logic. The other thing, if we could find a way to make transportation cheap across oceans for individuals, we could sneak in silver for you guys.
CMI has the absolute lowest premiums over spot if you buy their specials. FIFTEEN CENTS over spot for junk. The caveat is 100 ounce or $100.face minimums. If you want less JM Bullion or SDB is the way to go. APMEX has great service, but not the best prices. I have one "pretty" piece, Jesus clearing the Temple 10 ounce bar from SB/SS (Chris Duane). Other than a few Maple Leafs and ASEs my collection is just odd junk I picked up at the lowest possible prices. If I lived in the UK I would take a hard look at gold!
Yes, but not from China oddly enough. I've bought countless stuff from Aliexpress and ebay from China, and never had to pay any import charge. No idea how they get away with it. About 3 in 5 products I order from the USA gets pinned for customs charges. I'd buy silver from China, but I just plain don't trust them that far.
Do you think it is better to by silver eagles or whatever silver i can find for the cheapest over spot price, if i am a new stacker with less than 1000 oz?
I don't like to give advise. You should come to that decision on your own. What I will say is that buying silver close to spot price for a long term wealth preservation tool is a great thing to do. Buy responsibly though.
Matt- buy what you like! I like getting bars close to spot. I like having an American Eagle from every year. Do you like artsy stuff? The Perth Mint stuff is nice, and Philharmonics are pretty. Stay away from fractionals unless you have money to burn. I also avoid EBay, I prefer dealers and local coin shops.
One of the benefits in america when it comes to stacking is the income is a lot higher on average so disposable income is more, this makes stacking and collecting easier...also fear mongering is much higher here with survival mags cluttering up supermarket magazine sections...so they are all ...the world is going to end etc....makes for some silly actions like people buying 500 oz monster boxes of silver then burying them under the chicken coops.
Yes there is a very different culture when it comes to preppers - they really aren't that very many of them here in the UK. God knows how much silver and gold is buried in the backyards of American households!
Backyard Bullion The fact they are preppers and don't believe in banks says a bunch...used to be the French would get gold nuggets and put them under their floor boards...now it's america...weird as they have the most money and most military but are the most worried about debt and being invaded....daft.
BusyBeeCompany If Rome fell.... the US could most certainly have big problems economically or fall. This is reasonable especially when China and Russia are specifically undermining the US dollar and wish to dethrone it so to change the world's trade dynamic away from US influence. Yes gold and silver are pretty, but my personal feeling is the YT host is far too enamored with craftsman glitter and marketed bows and ribbons rather than the raw practical precious metal insurance policy. ~thoughts from a Canadian who pays zero tax when buying .999 plus silver or gold.
SilverMountain Some of those forward thinkers paid $20,000 for one of those monster boxes...but I'm not badmouthing them...just stating some preppers are hording silver the way the French used to do with gold...if someone wants to buy 20 year safe food it's up to them...we have freedoms here in the US to do whatever.
SilverMountain They recommend that you have 10% of your retirement in commodities like silver or gold,platinum, etc. ...for a safe retirement that would require $150,000 in silver or gold, even the bad retirement amounts the average American has as an over 50 would be $3,500 of Commodities. .
i'm just sticking with gold atm until the US free trade is sorted. Ebay a. can't be trusted and b. actually costs more than buying from bullion dealers direct.
@@BackyardBullion silver prices look to be pretty stagnate atm anyway, whereas gold prices are pretty low atm. So i'm pretty much focused on sovereigns and small bars for now. I would like some more silver but common sense is telling me to wait it out.
Why wouldn't you buy your silver on a french website so you can deliver it to you in UK. France to UK is not that far. But I don't know if our silver situation is better than yours considering that I just bought 25 x britannia oz for 534 euros (1 oz = 21.36 euros) when spot price is 16,56 $ (15.27 euros), so we have 29% premium, which is really bad to me but that is the cheapest I found in France. I mean wtf bro, almost 30% premium is fucked up. I still bought it because I want some silver as well and ratio probably will decrease but man it hurts. Anyway, just found out about ur channel and really interesting videos, thank you for the content man. Cheers !
Can anyone help? I buy most of my silver from BullionByPost or by Royal Mint. I've looked at European Mint but insured delivery costs €20. You can get free delivery but it comes uninsured. Has anyone got any advice/ experience? I live in the UK.
Nothing wrong with the European Mint. The deliveries are insured. You get best value for money when ordering in bulk. The cheapest coins you can buy right now are about £13.50 including delivery, much better then £18 -£20 from bullion by post.
Adam Robinson: In the UK this is the place I buy silver from....they're slightly cheaper than BBP, delivery is free and insured and they guarantee to buy back anything they sell to you at 100% of the current spot price. You also get a free rare-earth magnet (for testing silver) with every coin you buy :-) www.silvertrader.uk/
Very illogical to have to pay VAT on coins with face value, in theory, you can pay with the coins in the country that have issued them. It's like paying VAT for taking out currency in an ATM. Luckily for me, Norway doesn't tax sliver coins with a face value, so i pay about 2 - 2.5 $ over spot now for 1 oz silver coins
I've just placed a small-ish order with European Mint that I'm going to put through BB's group order, but I also placed a larger order with goldsilver.be (some Queen's Beasts) which is £25 for shipping; also there's a small charge for doing a bank transfer using an online service - I used my debit card so it was about £3.30.
I can boastfully say I've never paid a cent in taxes and rarely shipping on nary an oz of silver in my stack. Don't let Uncle Sam know though, not that they don't steal a third of my paycheck as it is.
@@BackyardBullion The state should be as small as possible. Why? Because socialism does not work and never will. In all of history there has not been a single instance where socialism has been a better alternative than capitalism. The inherent nature of the state means that it always will be less effective than the private sector: It is entirely lacking of any concept of "incentive", why should the state worry about being fast, cheap and accurate? It does not need to worry itself, like the private sector does, about such trivialities: The funding will arrive each year however it is faring. All right, now that I've established that it is in all of our interest to shrink the state, how small should it be? Personally, I only think the military and maybe the police is necessary. All other tasks are possible to outsource to the private sector for the betterment of all.
@@BackyardBullionLets not forget that our taxes are also paying for all the immigrants being dumped by the 10's of thousands in our cities. Lets give up our extra play money that we use to buy silver and give these poor individuals a better life.
she's still monopolizing the whole world, like in the time of the kings and queens, its okay to look at her, but not every day😋 , just put some other person , animal or plant on it 😎
Uk taxes and duties are sadly a difficult if not impossible challenge to overcome for us collectors, stackers and in particular pourers. On the surface it may seem our silver is high premium compared to say the US however, factoring in what our production costs it's actually not expensive at all!! Something ive always wondered though is if the Royal Mint have to pay there share of taxes too or is it waived????!!!
They will claim the VAT back as any business would do. They then pass that on to the customers. Otherwise the silver is double vat'ed. It is one solution for my silver pouring business if Brexit means vat on silver. I would register, claim the vat back and the have to charge it on UK sales, but outside the UK no VAT is due. UK prices go up 20% though for customers. Or, I take a 20% hit on margins which puts me in the brown stuff 😎😔
It's a crazy situation which I hope they look at in future budgets. I saw recently the chancellor saying our income taxes need to go up too to cover the budget deficits. Perhaps we should have more say on how they spend it lol
If the tax/premium is calculated into sell price by private holders and most buyers pay. Then look to the psychological program instilled by the govt. through tax/premium. No govt wants citizens to become their own banks, except Japan in the past, and it has since been exploited. Knowledge beyond currency, and of taxation, is not remotely endorsed by any educational platform. Here in US similar, but we have no Monarchy, and no Island profile, a large difference. US remains within delusions of grandiose, from POTUS to average citizen. However, practicality within historically youthful psyche, remains amongst the conscious. "Empire is as Empire does Forrest" and to view the historical timeline, maturity, and probable near time destinations... and always consider, "History does not repeat itself, it rhymes" - Mark Twain. Debt is for Slaves, and just what does your govt./educational system preach ?
If you sell your silver and it is not a "business asset" then you are just selling a private asset and can sell as much as you like (assuming you can back up that it is just a private investment). If, however let's say you sell coins regularly like I do - you would probably be classed as a small business seller, so then, when you business turnover reaches £85,000 you are forced to register for and charge VAT when you sell.
@@BackyardBullion just doesn't seem fair does it. Dealers are making money and we're not. Hopefully get on the grouo buy one day. Those oriental ones look fantastic.
Hi, love your channel, just subscribed. I’m interested to find out how to be included in your group silver orders. I checked out silvertogo.com and gold silver.be and they look very reasonable. I’m always a bit concerned buying from new websites though especially when purchases are in the hundreds of pounds. Have you personally ordered from them? I’d really appreciate your thoughts. Cheers.
The group order has closed for this month - visit www.thesilverforum.com for more information. Both Silvertogo and Goldsilver.be are good companies and I have used them both before.
Tripper flipper: Yes, you're right....there is no VAT / sales tax on gold here which is why I'm now giving up on silver and concentrating on gold (I'm in the UK).
I would go down the same road as yourself and switch to gold if a deal after brexit is not in our flavour and I think the government should allow a vat free month on bullion only for private investors up to a certain amount but who am I kidding 🤣 great informative vid again my friend
Some might think it silly but what about the "SHTF factor"? What if a much worse pandamic than CV19 literally destroys the economies of the world and that somehow renders most currencies worthless paper? THEN perhaps silver and gold become the only literal money left? At such a point would premium coins fetch much premium? Or would it all become regular currency passing daily from hand to hand clanking around in pockets or sewn into linings or buried as one's "banking" Just something I have thought about from time to time....one reason I like the old "junk silver" Who will worry that old worn silver coin of random dates could be counterfiet? SO unlikely as to be ridiculous if one has a bag of random dates coins. I am trying to imagine bartering for food or ammunition saying "yes I know this coin is still just another Troy ounce but LOOK how flawless? It is "premium" still in it's plastic holder never been touched! That has to be worth at least an extra 40% of rice...yes? I had to pay VAT plus another 25% premium so that is why it is worth so much more than that last guy's 1 ounce of tarnished ugly junk silver. (fully adjusted with enough metal that theres still an actual full Troy ounce of silver) ....right? I could be wrong but I see the seller laughing at me saying "I don't give two craps about what YOU paid or why ....an ounce is an ounce PERIOD....go try to find a collector to buy it I only want MONEY not collectibles ...this much silver or this much gold for this much rice ....PERIOD take it or starve
Another difference is the americans always talking a lot about liquidity. Recommending Eagles over Maples over Krugerrands etc.IMHO for the most part of it I either don't understand americans or it's just patriotic BS. From a PM point of view it makes no sense. We're not living in the 80s anymore and I don't think there's anybody interested in silver (or gold for that matter) that don't know all the mayor brands. If anything is on the risky side it's all the special editions etc. which might cost the same now but when you need to sell them you might not get as much for it as the well known brands simply because many dealers don't want to bother with a ton of yesterdays special editions which is a hassle to handle which means they'll give you melt value instead the slightly higher resale value. Beside if we ever get in a situation where everybody want to sell which then means it's going to a dealer then it's destined for melt anyway and all you got in return for paying a higher price for your silver is less silver for your money. When looking at gold many americans recommends bullion over vintage coins and many of them only 999 or higher purity for some fictional "what it"-scenario. Again it's very much different in Europe. If buying full oz sure then go for regular bullion. But for the ordinary pay check stacker thats a huge chunk. When looking at the smaller sizes often vintage coins even in quite good condition have premiums equal to regular bullion which makes them very favorable. As an example locally (for me) 1/4oz regular bullion often costs the same or even slightly more expensive then vintage Danich 20 kr coins despite the vintage coins contains ~0.3 grams more gold than 1/4oz bullion - why would anybody buy the new bullion then? Again there'll not be any issues with liquidity no matter if you choose vintage coins or new bullion.
Is there a tax for buying crypto in UK? like bitcoin? Maybe you can use crypto to avoid taxes on buying stuff outside the UK. Find someone in the USA send them crypto to buy silver then ship it to you. APMEX is an online exchange here that accepts bitcoin and bitcoin cash for payment and it is cheaper then using credit card to buy on their site. Could keep the entire transaction in bitcoin and never have to convert to dollar.
I have been stacking for 10 years in the US. I Purchased from the big online websites and eBay at first for about six months, then I found a private coin and bullion dealer that I started to deal with. Everything is cash Only. He charges normal customers two dollars over spot for bullion or government rounds that aren’t perfect. BUT, Since I have been buying from him for so long, he charges me $1 over spot no matter how many ounces I purchase. I purchased 20 ounces a week more or less. If I ever need to sell any silver, he buys it back at exactly spot. Is there any hope for something like this for you guys in the UK? A private dealer who does everything off the books and will except cash? I think that you Guys being charge so much is disgusting and just another way that the government is forcing you to keep your money in a Fiat currency. I am sure this deters a lot of individuals that would love to stack, but can’t see giving away that much of their money to Taxes.
The private dealer still has to buy his silver somewhere, and pay VAT in the process. He would need to pass that cost onto the customers or end up losing money
Silver Stacker I have been stacking for a few years now, silver is a safe bet for the long term saver, but the price is artificially frozen by the bankers, my personal recommendation is this, if you have £100 or $100 take half and buy silver and with the other half buy Bitcoins..as i write this now the price of Bitcoins is at an all time low of £4500, the estimated increase for 2019 per coin is £10,000 to £18,000 per coin, a huge amount of money, you can always buy more silver with your earnings from Bitcoins.
Bitcoin is not a safe or good place to put cash (in my opinion). But each to their own. FYI, I removed your link comment - u am not keen on affiliate links like that unless I have them pre-researched and approved. Just ask next time and we can look into it.
In Canada there is no tax on silver gold platinum and palladium coins they are still considered money since 1867!
wow that is crazy! i had no idea you guys had to pay so much in tax over there. I live in Oregon, USA and we don’t have to pay sales tax on any purchases at all so I i’ll consider myself extremely lucky!
Yep - not a fun state of affairs! Lucky you 0% sales tax!
Shout out to Oregon and you too!
BigTthaBoss Yeah Oregon!!! best place in the world unless you hate rain lol
Silver Baggins if you got an umbrella your not an Oregonian 😂😂😂
25% Here lol
Yes, we're very lucky here in the US. I can buy silver all day at $1.50 over spot. There are also a bunch of site who sell 10 ounce bundles at spot, trying to get your business
Yep nothing like that here it's really pretty Daya when it comes to buying cheap Silver but that's the nature of the game!
Brandon Snider You can buy silver sometimes underspot..I have, not saying how but have..lol.
lucky lucky!
Sure you have.
G G check out golden state mint, 1.50-2.00 over spot every day
I’m amazed there is much of a silver community in the UK with the premiums on it. I’m not sure I would be buying silver over fractional gold. I should send some silver home with my sister in law when she is over from the UK this Christmas so she can resell it !
I think it's more of a North America vs Europe difference because here in Canada we pay zero tax on bullion only spot plus premium
I am kind of in-between. I don't stack high premium coins nor generics. I have gone with sticking with government minted coins. I have at least 20 from Mexico, the UK, Australia and Canada but primarily Silver Eagles. When the 2018 BU silver Krugerrand are released I'll pick up 20 of them as well. I did buy 5 of the Oriental Border Britannia because I really liked them.
Thanks for the good explanation of the differences between UK and US silver purchases.
The 1/3 of the cost of my silver purchases goes for delivery so to get it delivered at my door i pay $7.00 over spot. Americans like me only buy Beautiful coins. Generics are rough. I have 2 britiannas in my possession now.
Great to hear, good stuff!
@@BackyardBullion THANKS! THE BRITANNIA IS ONE OF THE MOST BEAUTIFUL COINS IN EXISTENCE. I LOVE MIRROR PROOF LIKE FINISHES.
Go Free Trade, It would be great for both Country's to have Free trade between us.
It would be pretty awesome for sure!
Well that ended XD
First off congratulations on the big 5k now to watch 👍
Thanks my friend - I filmed this before I knew about 5k subs! My video tomorrow acknowledges it! Enjoy!
I second thsi.
Same problem in Germany, high tax for silver (especially round and bars) and no Ebay bucks. That's why I switched more to gold. Silver prices like in the US would be awesome.
It is a sad situation for sure!
Taxes on honest, hard money makes absolutely no sense! That's why many US states are eliminating tax on bullion. The constitution states all transactions are to take place with gold or silver! EU governments are all so over bearing!
Lately, I am coming around the the view that a better name for the Royal Mint would be the "Right Royal Rip-off". Even before the VAT is applied, silver bullion coins (such as the silver Britannia coins), still cost well above spot price. After VAT, the silver can cost double the spot price. A single one ounce Britannia costs £24.52 plus £5 delivery plus £5.90 VAT which comes to £35.42. This is more than double the current spot price of approx £17.00. Of course, there are discounts for bulk purchases (plus free delivery) but, even when buying 100 coins, the price per coin is £23.18 (plus VAT) which isn't much of a discount and is still a substantial markup versus the spot price.
There is most certainly a difference in stacking mantras on either side of the pond. For me, the premium is just something to accept. Anything under £16 per oz is totally acceptable to me. But at those prices you are looking at the basic government bullion issues or generic silver. I don't touch generic silver coins but in the US generic silver is a huge thing. My stack is a mix of cheap government bullion (Maples, Phils, Eagles etc) and more interesting pieces with a little more premium on them (Atlantis mint and PG&G bars, Umicore bars etc). I never buy high premium silver no matter what.
Good words of wisdom here my friend. You have a good strategy and one that both protects you as well as works for you.
everyone has a different strategy, i would buy the cheapest way possible also like a big load of silver coins from earlier years in discount, sometimes if i m really interested in one coin, and high premium i would buy it just to admire it.
Same. Pretty as some of them are, silver is silver. I buy silver for silver.
One thing I'd like to add; as a European, I'm also jealous of the affordable or free shipping fees they have in the US. Majority of the european retailers seem to charge around 20€ or more for shipping, which is brutal if you don't buy PMs in big quantities. I'm from Finland, and often look to get VAT-free silver from Estonia, but I'm not terribly keen on paying 20€ shipping for a order of 100-150€. Remind you, the distance between Finnish and Estonian coastal lines is around 120 kilometers. Meanwhile in the US, someone from Seattle can place an $99 order from Apmex in Alabama and get a free delivery for it. Oh, how unfair life can sometimes be...
Yes this is a pretty horrible situation. The same is said for us over here in the UK. For small orders it would almost be cheaper for you to order via me and have me post the silver to you! Probably save you about €10!
Suppose if spot price went up to £25 or even £30 in future years the 20% vat we all love and expect to pay would make selling very nice here in the UK.
Well this is very true, when you're private seller selling on eBay for example, you don't have to charge VAT but the market pays a certain price which is what they would have to pay otherwise, so if the cheapest coin somebody can get this £35, they will probably pay £35 for your coin off eBay. Which is why the VAT premium stays in the UK for us
Love my Brit’s across the pond. I was just watching a documentary on how far our partnership goes. Back to the 1900s and WWI WWII on how we bled together
We are indeed in a "special relationship"!!!
and prior to that we owned you and you kicked us out, remember when we burnt your white house down for like the 5th time? ahh happy days huh...
In EU en general you should be able to find silver at "only" 10-15% over spot. There are a few countries in EU where investment silver is VAT exempt. Typically as coins with monetary denomination. Purchase directly from their websites to avoid greedy eBay fees.
I agree - it is not hard to get good prices compared to buying from ebay and dealers.
The US stackers also seem to have lots of "local coin stores"... We have dealers in the UK dotted around but apart from something like a cash converter we can't just pop down the high street and go and buy a few britannias. Don't know if they are that common in America but sounds like it. Does that suggest stacking is more common over the pond?
It used to be, people thought the US had streets paved with gold. Now it is just assumed we have more coin shops. How far we've fallen....
the way you get around the silver sales tax is because you're not buying anything, just an exchange of money, the britanias for example are stamped £2.00, there's no sale. the "dealer" is just changing your money. atleast for gov coins. in the US we still pay tax for non gov silver.
I see this the same way, just making fiat into something else
Just found your channel. So far, I love it!
Glad you are enjoying it!
The difference between the US silver stacking culture and the UK is the US has a silver saving culture and UK doesn't. It's only when you get to have the shiny weighty coins in your hand you feel how nice it would be to get some of your own.
Yes indeed - the % of people that stack in the UK is tiny compared to USA>
Governments and their greed really determine how we stack and how we go about trying to avoid any taxes we can. The black market was born from government greed. It most certainly won't be going away at any time in my life. I don't have much of a plan at all. I have a limited income and at month end get a treat if there is a treat left. My pouring sort of supports itself but there really is no windfall in it for sure. Thanks for this bud. Always a nice visit with ya.
Well this is the thing tax avoidance and tax evasion is only there when people perceive tax to be too much. For us we're not really doing anything wrong and we're just taking advantage of the European Union whilst it lasts. It is what it is though thanks for stopping by my friend for the fantastic weekend
No well better said. I call it self preservation, LOL. You two have a nice one too eh.
Whatever the price, it's better than having your wealth in a bank. The bank owns our money here, I think you have the same system there. I've listened to people talking about banks in the UK, an that's what I got out of it.
Just get your money out of Banks! It's a number they can play with and as well as with your life.
I think a happy medium is best. We all need some money in the bank to buy things to live and eat!
A bank can ban you and seize your money at any time it wants with no notice, it only has to claim it thinks you are laundering money. No evidence is needed.
Only bought a bit of silver here in the UK, just for that reason...it's not economical with the amount of VAT we have to pay. But still, whilst it's on the low end I did buy, but I'm not sentimental about it, and to be honest, when it does swing back up in the future, I'll sell nearly the lot of it, and with it just buy some more gold with it...so basically the silver at this cheaper price now is just a hedge to be able to help me buy a coin or two of gold later on. That's my strategy anyway.
I believe, that if I lived in the UK, I would consentrate more on stacking gold. Most people lose money trading stocks, even with the small commissions paid. I can't imagine that the average person would be successful in flipping coins with 30% premiums.
It is possible, a lot of the premiums that we pay are repaid on the secondary market simply because nobody can get coins for any less so they still pay a decent price for it.
True. I see this on eBay a lot.
Even with Brexit the UK will keep a lot of trade agreements with Europe not doing so will simply cost to much. Doing a trade deal with the us at this time would not be the best idea. there should be a yearly tax refund for silver wen it is under 10.000 pounds this should be easy and would not effect private collector's
One would hope there would be trade agreements in place. It will cripple a lot of businesses here and abroad if not. The problem would be no deal in place and falling off a cliff. Terrible situation if that happens.
the government should have a clear plan for the future regarding Brexit but they are still looking what to do. Maybe getting rid of all your silver and keeping with gold is the best idea and for white metals there is always platinum. Wen the plans are clear about what is about to happen with silver, getting some advise from a tax expert on full refunds for that 40% would be logic. I hope the best for Brexit because what happens in the UK will effect the rest of the world. I honestly find this news shocking that a government would put 40% tax on it citizens that's just criminal. I wish you a very fine day
US Market is about $3 premium on silver Eagles. That's 18%.
Yes - but you can buy generic silver bullion for cheaper than that. Eagles have a premium as they are more popular.
True.. I like to pickup up 10oz bars when they are marked down to 50 cents per oz over spot, but realize when I sell them I'm not going to get a premium. Eagle premiums stick when you sell them, but are lost in fees to eBay or some other platform. My local coin shop will NOT pay me a premium for eagles, he buys them at 2% below spot. Also, several states in the US charge local state tax - Today's U.S. price for an Eagle is $22.49 at a local California coin shop after tax and premium. Same coin would be bought back for $16.07.
Of course, it also varies with the price/value of the Pound
Even in the US there is quite a range of stackers. From bullion only to coin only. Then add in the options for various "art" sets, of which many are outstanding, and of course numismatic influences, too. My guess is that we have an easier time of expanding our interests or diversifying our stacks without absorbing any costs beyond the premium. What I am wondering, does this limit the income income range more in the UK? AS in, who could sensibly begin to stack without taking food off the table. Great video as always. Oh, and let me see, a quid is a pound which is ....
Very informative video. Thanks for showing
My pleasure!
As a Canadian, I'm kind of stuck in the middle. I do get good prices on both gold and silver, but I have to pay in highly devalued Canadian dollars, which are just as hard to acquire as when they were at par with the US dollar. So that, in effect, puts an additional 30% premium on all my purchases. In 2011 when the Canadian dollar was higher than the US dollar, I sold a lot of silver and got less than my American cousins, so it is always difficult. Nevertheless, I am a dedicated stacker and believe that these differences are small compared to the insurance and security I get from holding precious metals. I might add that gold has given the better return of the two metals and when I convert my past expenditures over the last 34 years to today's dollars using inflation calculators, my average purchase price is US$969 per ounce, (vs US$1268.90 now). Obviously it has done better than just keeping up with inflation.
I might also add that many of my earlier gold purchases were rare coins with substantial premiums.
First of all, congratz on 5K.
At least you aren't in Croatia - cheapest 1oz coin is 60% over spot, and when selling back you'll be happy if you get 90% of the spot.
No silver for us :D
Gold can be bought for 5% - 10% over spot, but minimal wage here is around 1/4oz and median is 1/2oz. So only remaining option is the purchase of 1/10 oz Philharmonics and small Ducats.
Ouch - that is horrible!
Hey what do you think about platinum right now did you see the price of it very cheap $874 an ounce And palladium is that 955 an ounce When gold is At $1271 an ounce
I think platinum is very undervalued compared to gold. The bad thing is that it is harder to liquidate in the future.
The door swings both ways. In the UK you get to buy Sovereigns at a great price with no VAT and capital gains free.
Yes indeed - but for silver we are royally screwed!
This might be due to American's ordering 500 ounces of generic, and the English ordering a handful of Premiums. Just a guess. However, that Royal mint coin is beautiful, I might have to order 1,000 or so....Thanks mate.......
This is probably true.
I dig the British royal mint bars actually. I’d rather have it backed by my ally
my local shop sells secondary market coins all are 24 pounds each its quite cheap this is how i buy my silver he buys for 21 hes a legend and i dont mean a foot
Quick question, I have just bought quite a few silver oz coins. Is it best to buy coin protectors?
I would say yes - it helps keep them look nice!
I've never stacked silver as to be frank the logistics and the financials of it never quite made sense. Always been a gold guy.
British coins are beautiful and to me are worth the premium. If I'm going to pay a sizable premium the art on the coin needs to match the price. However, since we have options, why would I pay more for an oz when I could get at spot or at low premium? It's just logic.
The other thing, if we could find a way to make transportation cheap across oceans for individuals, we could sneak in silver for you guys.
If only we could do that! It would make things easy and cheaper for us over here!
CMI has the absolute lowest premiums over spot if you buy their specials. FIFTEEN CENTS over spot for junk. The caveat is 100 ounce or $100.face minimums. If you want less JM Bullion or SDB is the way to go. APMEX has great service, but not the best prices. I have one "pretty" piece, Jesus clearing the Temple 10 ounce bar from SB/SS (Chris Duane). Other than a few Maple Leafs and ASEs my collection is just odd junk I picked up at the lowest possible prices. If I lived in the UK I would take a hard look at gold!
Thanks for the insight!
When you order from the USA to UK do you have to pay 20% VAT on everything?
Yep - and a small admin fee for HMRC too!
Yes, but not from China oddly enough. I've bought countless stuff from Aliexpress and ebay from China, and never had to pay any import charge. No idea how they get away with it. About 3 in 5 products I order from the USA gets pinned for customs charges.
I'd buy silver from China, but I just plain don't trust them that far.
Do you think it is better to by silver eagles or whatever silver i can find for the cheapest over spot price, if i am a new stacker with less than 1000 oz?
I don't like to give advise. You should come to that decision on your own. What I will say is that buying silver close to spot price for a long term wealth preservation tool is a great thing to do. Buy responsibly though.
Matt- buy what you like! I like getting bars close to spot. I like having an American Eagle from every year. Do you like artsy stuff? The Perth Mint stuff is nice, and Philharmonics are pretty. Stay away from fractionals unless you have money to burn. I also avoid EBay, I prefer dealers and local coin shops.
Thank you so much for the information. You and all your fellow stackers have my deepest sympathy, the tax you have to pay is deplorable.
Chards in Blackpool have them for £18
Good stuff.
Another great video 👍👍👍👍👍👍👍👍
Thanks my friend!
One of the benefits in america when it comes to stacking is the income is a lot higher on average so disposable income is more, this makes stacking and collecting easier...also fear mongering is much higher here with survival mags cluttering up supermarket magazine sections...so they are all ...the world is going to end etc....makes for some silly actions like people buying 500 oz monster boxes of silver then burying them under the chicken coops.
Yes there is a very different culture when it comes to preppers - they really aren't that very many of them here in the UK. God knows how much silver and gold is buried in the backyards of American households!
Backyard Bullion The fact they are preppers and don't believe in banks says a bunch...used to be the French would get gold nuggets and put them under their floor boards...now it's america...weird as they have the most money and most military but are the most worried about debt and being invaded....daft.
BusyBeeCompany
If Rome fell.... the US could most certainly have big problems economically or fall. This is reasonable especially when China and Russia are specifically undermining the US dollar and wish to dethrone it so to change the world's trade dynamic away from US influence.
Yes gold and silver are pretty, but my personal feeling is the YT host is far too enamored with craftsman glitter and marketed bows and ribbons rather than the raw practical precious metal insurance policy.
~thoughts from a Canadian who pays zero tax when buying .999 plus silver or gold.
SilverMountain Some of those forward thinkers paid $20,000 for one of those monster boxes...but I'm not badmouthing them...just stating some preppers are hording silver the way the French used to do with gold...if someone wants to buy 20 year safe food it's up to them...we have freedoms here in the US to do whatever.
SilverMountain They recommend that you have 10% of your retirement in commodities like silver or gold,platinum, etc. ...for a safe retirement that would require $150,000 in silver or gold, even the bad retirement amounts the average American has as an over 50 would be $3,500 of Commodities. .
i'm just sticking with gold atm until the US free trade is sorted. Ebay a. can't be trusted and b. actually costs more than buying from bullion dealers direct.
Thanks for sharing your thoughts!
@@BackyardBullion silver prices look to be pretty stagnate atm anyway, whereas gold prices are pretty low atm. So i'm pretty much focused on sovereigns and small bars for now. I would like some more silver but common sense is telling me to wait it out.
Why do you not trust ebay? It has a 100% moneyback guarantee on all items, plus you can just check a sellers reviews and see if they are legit.
Why wouldn't you buy your silver on a french website so you can deliver it to you in UK. France to UK is not that far. But I don't know if our silver situation is better than yours considering that I just bought 25 x britannia oz for 534 euros (1 oz = 21.36 euros) when spot price is 16,56 $ (15.27 euros), so we have 29% premium, which is really bad to me but that is the cheapest I found in France. I mean wtf bro, almost 30% premium is fucked up. I still bought it because I want some silver as well and ratio probably will decrease but man it hurts.
Anyway, just found out about ur channel and really interesting videos, thank you for the content man.
Cheers !
Can anyone help? I buy most of my silver from BullionByPost or by Royal Mint. I've looked at European Mint but insured delivery costs €20. You can get free delivery but it comes uninsured. Has anyone got any advice/ experience? I live in the UK.
Nothing wrong with the European Mint. The deliveries are insured. You get best value for money when ordering in bulk. The cheapest coins you can buy right now are about £13.50 including delivery, much better then £18 -£20 from bullion by post.
I've used www.silver-to-go.com for over a year now, prices are excellent, customer service is top notch.. along with delivery in 2 days..
European mint and gold silver.be are cheaper
Adam Robinson: In the UK this is the place I buy silver from....they're slightly cheaper than BBP, delivery is free and insured and they guarantee to buy back anything they sell to you at 100% of the current spot price. You also get a free rare-earth magnet (for testing silver) with every coin you buy :-)
www.silvertrader.uk/
Crazy Prices On Silver But Good Deals On Gold?
Welcome to the UK stacking!
Very illogical to have to pay VAT on coins with face value, in theory, you can pay with the coins in the country that have issued them. It's like paying VAT for taking out currency in an ATM.
Luckily for me, Norway doesn't tax sliver coins with a face value, so i pay about 2 - 2.5 $ over spot now for 1 oz silver coins
Those premiums are INSANE!!!
Why not go for gold in the UK???
Because silver is also a good buy - just harder!
As a UK stacker I also buy gold, just not as frequently.
BB you have excellent videos , thank you sir
Thanks my friend!
so what is the disadvantage of mail order from estonia? thanks
It is a little expensive, only really worth it if you order larger quantities
I've just placed a small-ish order with European Mint that I'm going to put through BB's group order, but I also placed a larger order with goldsilver.be (some Queen's Beasts) which is £25 for shipping; also there's a small charge for doing a bank transfer using an online service - I used my debit card so it was about £3.30.
I can boastfully say I've never paid a cent in taxes and rarely shipping on nary an oz of silver in my stack. Don't let Uncle Sam know though, not that they don't steal a third of my paycheck as it is.
Paying taxes is a good thing - it means you are earning lots of money and also helping society...
@@BackyardBullion Paying takes is a bad thing because it enables the state to grow larger further enburdening the tax payer aka the average citizen.
What is wrong with the state? They protect you, serve you and why should that be free? Supporting the state is unequivocally a good thing.
@@BackyardBullion The state should be as small as possible. Why? Because socialism does not work and never will. In all of history there has not been a single instance where socialism has been a better alternative than capitalism. The inherent nature of the state means that it always will be less effective than the private sector: It is entirely lacking of any concept of "incentive", why should the state worry about being fast, cheap and accurate? It does not need to worry itself, like the private sector does, about such trivialities: The funding will arrive each year however it is faring.
All right, now that I've established that it is in all of our interest to shrink the state, how small should it be? Personally, I only think the military and maybe the police is necessary. All other tasks are possible to outsource to the private sector for the betterment of all.
@@BackyardBullionLets not forget that our taxes are also paying for all the immigrants being dumped by the 10's of thousands in our cities. Lets give up our extra play money that we use to buy silver and give these poor individuals a better life.
Am in the us all I want is generic round and bars. If a good deal comes then maybe junk silver.
Just started stacking and was wondering if anyone knew sites with decent prices for silver? Coins or pressed bars
Tripper flipper: If you're in the UK this is one of the best that I know of.
www.silvertrader.uk/shop/
would love to see Daenerys Targaryen on one side instead of always the queen and the three Dragons (or now 2 Dragons) on the other side 😎
I'm pretty sure there are some Game of Thrones coins out there already. What's wrong with the good old Queen!
she's still monopolizing the whole world, like in the time of the kings and queens, its okay to look at her, but not every day😋 , just put some other person , animal or plant on it 😎
I'm tired of the queen because she's everywhere, Canada, Australia, England...enough already
they should for a change try to put the face of your girlfriend, would be popular way of selling rounds 😍
Love that oriental Britannia coin
Maybe as time goes by? Things will turn more in your favor.
what was this new coin you were on about?btw, just ordered the oriental edge brit...nice coin.
goldsilver.be/en/miscellaneous/1879-1-oz-silver-the-spade-guinea-2018-east-indian-company-1-.html
Went and orderred one..bit of a premium but I collect, I don't I vest.
Uk taxes and duties are sadly a difficult if not impossible challenge to overcome for us collectors, stackers and in particular pourers. On the surface it may seem our silver is high premium compared to say the US however, factoring in what our production costs it's actually not expensive at all!! Something ive always wondered though is if the Royal Mint have to pay there share of taxes too or is it waived????!!!
They will claim the VAT back as any business would do. They then pass that on to the customers. Otherwise the silver is double vat'ed. It is one solution for my silver pouring business if Brexit means vat on silver. I would register, claim the vat back and the have to charge it on UK sales, but outside the UK no VAT is due. UK prices go up 20% though for customers. Or, I take a 20% hit on margins which puts me in the brown stuff 😎😔
It's a crazy situation which I hope they look at in future budgets. I saw recently the chancellor saying our income taxes need to go up too to cover the budget deficits. Perhaps we should have more say on how they spend it lol
Good luck with that!
If the tax/premium is calculated into sell price by private holders and most buyers pay.
Then look to the psychological program instilled by the govt. through tax/premium.
No govt wants citizens to become their own banks, except Japan in the past, and it has since been exploited.
Knowledge beyond currency, and of taxation, is not remotely endorsed by any educational platform.
Here in US similar, but we have no Monarchy, and no Island profile, a large difference.
US remains within delusions of grandiose, from POTUS to average citizen.
However, practicality within historically youthful psyche, remains amongst the conscious.
"Empire is as Empire does Forrest" and to view the historical timeline, maturity, and probable near time destinations...
and always consider, "History does not repeat itself, it rhymes" - Mark Twain.
Debt is for Slaves, and just what does your govt./educational system preach ?
Thanks for the wise words my friend!
The trouble with buying from the US is the shipping costs - thats even if we drop VAT post-Brexit !!!
If you sold to a dealer do they have to pay you VAT if not why???
If you sell your silver and it is not a "business asset" then you are just selling a private asset and can sell as much as you like (assuming you can back up that it is just a private investment). If, however let's say you sell coins regularly like I do - you would probably be classed as a small business seller, so then, when you business turnover reaches £85,000 you are forced to register for and charge VAT when you sell.
@@BackyardBullion just doesn't seem fair does it. Dealers are making money and we're not. Hopefully get on the grouo buy one day. Those oriental ones look fantastic.
Wow I thought two dollars over spot was robbery
Hi, love your channel, just subscribed. I’m interested to find out how to be included in your group silver orders. I checked out silvertogo.com and gold silver.be and they look very reasonable. I’m always a bit concerned buying from new websites though especially when purchases are in the hundreds of pounds. Have you personally ordered from them? I’d really appreciate your thoughts. Cheers.
The group order has closed for this month - visit www.thesilverforum.com for more information. Both Silvertogo and Goldsilver.be are good companies and I have used them both before.
Backyard Bullion many thanks 😎
Also by the comments it seems better to invest in gold in the UK rather than silver?
Tripper flipper: Yes, you're right....there is no VAT / sales tax on gold here which is why I'm now giving up on silver and concentrating on gold (I'm in the UK).
I would go down the same road as yourself and switch to gold if a deal after brexit is not in our flavour and I think the government should allow a vat free month on bullion only for private investors up to a certain amount but who am I kidding 🤣 great informative vid again my friend
Just started stacking about a month ago and I'm up to 10 oz of silver and a gram of gold. Not a single piece of it is Government issued 🤣🤣
Nicely done!
Bullion Bully B-Clay I’m just starting out again and I’m going to start my own videos soon
5oz goldbar wow £130 on the price of the bar is nothing
Some might think it silly but what about the "SHTF factor"? What if a much worse pandamic than CV19 literally destroys the economies of the world and that somehow renders most currencies worthless paper? THEN perhaps silver and gold become the only literal money left? At such a point would premium coins fetch much premium? Or would it all become regular currency passing daily from hand to hand clanking around in pockets or sewn into linings or buried as one's "banking" Just something I have thought about from time to time....one reason I like the old "junk silver" Who will worry that old worn silver coin of random dates could be counterfiet? SO unlikely as to be ridiculous if one has a bag of random dates coins. I am trying to imagine bartering for food or ammunition saying "yes I know this coin is still just another Troy ounce but LOOK how flawless? It is "premium" still in it's plastic holder never been touched! That has to be worth at least an extra 40% of rice...yes? I had to pay VAT plus another 25% premium so that is why it is worth so much more than that last guy's 1 ounce of tarnished ugly junk silver. (fully adjusted with enough metal that theres still an actual full Troy ounce of silver) ....right? I could be wrong but I see the seller laughing at me saying "I don't give two craps about what YOU paid or why ....an ounce is an ounce PERIOD....go try to find a collector to buy it I only want MONEY not collectibles ...this much silver or this much gold for this much rice ....PERIOD take it or starve
I am in the USA. If I was over there I wouldn't want to stack silver. Too expensive.
They don't pay tax in USA lucky them
Another difference is the americans always talking a lot about liquidity. Recommending Eagles over Maples over Krugerrands etc.IMHO for the most part of it I either don't understand americans or it's just patriotic BS. From a PM point of view it makes no sense. We're not living in the 80s anymore and I don't think there's anybody interested in silver (or gold for that matter) that don't know all the mayor brands.
If anything is on the risky side it's all the special editions etc. which might cost the same now but when you need to sell them you might not get as much for it as the well known brands simply because many dealers don't want to bother with a ton of yesterdays special editions which is a hassle to handle which means they'll give you melt value instead the slightly higher resale value. Beside if we ever get in a situation where everybody want to sell which then means it's going to a dealer then it's destined for melt anyway and all you got in return for paying a higher price for your silver is less silver for your money.
When looking at gold many americans recommends bullion over vintage coins and many of them only 999 or higher purity for some fictional "what it"-scenario. Again it's very much different in Europe. If buying full oz sure then go for regular bullion. But for the ordinary pay check stacker thats a huge chunk. When looking at the smaller sizes often vintage coins even in quite good condition have premiums equal to regular bullion which makes them very favorable. As an example locally (for me) 1/4oz regular bullion often costs the same or even slightly more expensive then vintage Danich 20 kr coins despite the vintage coins contains ~0.3 grams more gold than 1/4oz bullion - why would anybody buy the new bullion then? Again there'll not be any issues with liquidity no matter if you choose vintage coins or new bullion.
Is there a tax for buying crypto in UK? like bitcoin? Maybe you can use crypto to avoid taxes on buying stuff outside the UK. Find someone in the USA send them crypto to buy silver then ship it to you. APMEX is an online exchange here that accepts bitcoin and bitcoin cash for payment and it is cheaper then using credit card to buy on their site. Could keep the entire transaction in bitcoin and never have to convert to dollar.
I don't think there is a tax on buying crypto, but there is tax on the profits (Capital Gains Tax).
That would make me sick, paying such an outrageous percentage because of a crappy government tax, feel bad for you....
Welcome to buying silver in the UK.
I have been stacking for 10 years in the US. I Purchased from the big online websites and eBay at first for about six months, then I found a private coin and bullion dealer that I started to deal with. Everything is cash Only. He charges normal customers two dollars over spot for bullion or government rounds that aren’t perfect. BUT, Since I have been buying from him for so long, he charges me $1 over spot no matter how many ounces I purchase. I purchased 20 ounces a week more or less.
If I ever need to sell any silver, he buys it back at exactly spot.
Is there any hope for something like this for you guys in the UK? A private dealer who does everything off the books and will except cash?
I think that you Guys being charge so much is disgusting and just another way that the government is forcing you to keep your money in a Fiat currency. I am sure this deters a lot of individuals that would love to stack, but can’t see giving away that much of their money to Taxes.
It would be nice to have someone like that here but it is not really going to happen - too different a culture I think!
The private dealer still has to buy his silver somewhere, and pay VAT in the process. He would need to pass that cost onto the customers or end up losing money
Silver Stacker
I have been stacking for a few years now, silver is a safe bet for the long term saver, but the price is artificially frozen by the bankers, my personal recommendation is this, if you have £100 or $100 take half and buy silver and with the other half buy Bitcoins..as i write this now the price of Bitcoins is at an all time low of £4500, the estimated increase for 2019 per coin is £10,000 to £18,000 per coin, a huge amount of money, you can always buy more silver with your earnings from Bitcoins.
Bitcoin is not a safe or good place to put cash (in my opinion). But each to their own. FYI, I removed your link comment - u am not keen on affiliate links like that unless I have them pre-researched and approved. Just ask next time and we can look into it.
Please stop putting affiliate links up on my videos. If you do it again I will be forced to block you from my channel.
👍👍👍
Thanks my friend!
I’m atheist but I belie godly attitude🌍🌍🌍🌍🌍🌍🌍🌍🌍🌍🌍🌍🌍🌍🌍🌍
Sounds to me like you should be stacking gold.
They are tax free
I think things will get worse with Brexit Because the UK government are making an arse of the whole process 😀
I agree. Not filling me with confidence!
*AS ALWAYS ONE MORE GREAT AND INTERESTING VIDEO ..... LOVE THAT ...!*
Thanks as always for commenting Kassi Man!