The TRUTH & CONS on buying Silver here in the UK - New Stackers be aware!! 

Just like everything in the uk we get absolutely shafted with tax!

Great advice! Inlive in the U.K. and am still buying silver 1oz coins. Just love the look of them and the quantity you can buy for relatively little money. But you’re right , it’s not a good investment and I may never break even if I choose to sell one day. Gold sovereigns are a much better way to spend your money but spending nearly £400 on a tiny gold coin somehow doesn’t have the same satisfaction 😆

The reality is that we are not allowed to exchange our pounds for silver.

Just found this video as im not really looking to make money, but to store money, as we know that when time goes by the notes we use are valued less and less by the year. For me, to have a chunk of silver backed up for when i want to spend makes a bit more sense, from this point it seems to be an anomoly that it will be under £15 per Oz and with future technologies i do see more and more industires accumilating more just for the material alone, I dont have a fear of the pricing of silver compared to just keeping some cash for a rainy day, I dont mind losing a few quid if that is the case, but a few hundered quid is a different feeling. I come from a background in game collecting, thats where my knowlege is, and whilst its entirely different, I was buying games for £1 if i sold one for £2 then its a simple 100% profit and i got value from said game, I am tired of that area though and for me it works as a storage of money as i have an item i can use, its just chance that said game gets a profit boost, at times a game was £100 just to be remastered and the market only wishing to pay £50, but at the end of the day, if you dont need the item espeically if you have value out of the product, i guess you feel a bit less burned by it at least.

Brilliant informative video. Just subscribed to you buddy. Not sure how i missed your vids but wont now. Im a new stacker only having 42oz of silver so far. Im in the UK also. 👌👍

Considering you would have to keep it for a while the inflation also will likely beat out what you paid since if you left it as fiat currency it would not be worth as much, i just wish they would repeal the tax on silver, platinum and paladium since gold does not have any tax

If I had to pay a 20% tax on silver but not gold...I'd be stacking pretty much just gold myself. I live in a sales state free US State, so very luck to be able stack it all without tax.

I have 23 kilo silver and all kilo bars because you get more silver for your money and they are all old collectable bars when I purchased them I payed 450 euro each

Well said,

Good to hear your advice my friend I collect myself nice job your doing

Silver is a LONG TERM investment .. and I mean a decade or more 😁 Quite simple really

I live in a draconian state that charges sales tax on bullion. There are some legitimate ways around it, like buy from an out of state business and have it vaulted out of state, or buy from a third party. And some less legitimate ways, like drive 90 minutes north to a state free of oppression, and bring your metals back. But yes, it bites to pay tax when you make an investment.

There's no point in buying silver if your not prepared to hold it for a long time.

I have a small amount of silver but I have it purely because I like to have it, if I ever sell it, hopefully I'll get my money back and maybe a bit more

Sorry you’re having to pay 20% VAT. Now I don’t feel so bad about my state charging 6%. At 20% I’d be looking for a workaround, lol. BTW, while Morgan’s are very popular here, the most popular is the Silver Eagle. Also very popular is 90% silver coins, aka “Junk” silver. Very easy to move 90% silver coins here in the U.S.

Makes a video how to store silver &gold bar +coin

Ill take gold. I just don't ever see getting my money back out of silver

People won't care about what's on the front of a coin when it comes to bartering or selling when things get tight. It will be the gold value and weight

Love the stacker bars! 🇬🇧

Whatever you invest in inflation will wipe it out its value in the long term. That is why chasing wealth is a recipe for unhappyness.

Here in the US it varies state to state. Some states have no tax on bullion, some states have sales tax on bullion. I happen to live in a state that has a 7% sales tax on everything except food. So silver is about $23.90/oz. The premium is about $3-$4 per oz and then my state has the 7% sales tax as well. If I were purchasing a lot of bullion and it was worthwhile, I could travel to the state below me which is about an hour and a half away, I could purchase bullion with no sales tax. Some states charge quite a bit more than others for tax on bullion. I'm actually in talks with my representative trying to petition and get the bullion tax abolished in my state, or at least lowered. I always wondered about your VAT tax on silver and how that worked. A very interesting and informative video. Have a great day.

In France, it's almost the same thing. Silver coins (whether old demonetized coins or Modern Ounces) are exempt from VAT. Only silver bars with no face value are subject to 20% VAT

I have been buying preowened 1oz silver coins to avoid the vat

Platinum also has VAT levied on it. Even second hand is VAT rated. It adds like another £200 to 1oz.

When you think about whatever precious metal you buy you will be paying VAT at 20% on the dealer's premium even if it isn't listed in your bill/receipt. Probably also on the postage even if it is included in the price. And indirectly you will be paying the dealer's CGT bill also.

Cash is just promissory notes - folk just don't know it!

As a long term investment, will silver break even or exceed initial cost versus leaving the same initial value of cash under the mattress for children and grandchildren?

This is a crazy thing to do in the UK. Very different in the US where silver is money.

What about capital gains tax - how does this affect your silver or gold investments over the long term?

What about purchasing pre owned silver 1oz Britannias? If I'm not mistaken they are both VAT and CGT free?

I thought the 20% VAT was applied after the premium?

Nice Scottsdale Stacker and good advice and info. Is your table on a downward slant ?? 😐🙃😀

yes VAT is annoying but im not put off by that as everyone has to pay it and if they removed VAT on investment silver price would rocket,

Where is everyone buying from and what’s the best place to get silver from?

What is the tax when you sell?

Is it better to buy sovereign s or britanna s

I wanted to buy 1 kg of silver was 877£ and then at check out it was 1052£ omg vat is 175 I end up buying Gold

Yep. Gold first.

VAY is not added to everything,.only luxury items. Even though they add it to sanitary products and they don't seem like a luxury item to me, it's clearly an arbitrary addition but it's still not added to everything.

Is it gold that is tax exempt in the UK?

pre owned is vat free

I would suggest considering buying gold and silver coins from a tax-exempt source, and if you live in the UK, consider ordering them from Norway. While there might be the possibility of incurring import duties and taxes, based on my experience of ordering from Norway ten times, I've only had to pay these fees twice.

Just to clarify something on the *tax* aspect: I believe that tax is charged on _bars_ because they are a commodity and could be melted down to make jewellery, electronics, ICs and other taxable goods. If you bought a £100 bar of silver (£120 incl. VAT) and used it to produce £200 worth of goods (ex VAT), you could deduct the £20 VAT paid from your annual tax return (And remember to add the £40 VAT from the goods you sold!) as it was an essential expense for a business reagent. Coins are normally _VAT exempt_ because they are monetary items and *not* intended for melting down or reuse. 🏦 As monetary items have a defined face value they will _always_ have that value (A UK Sovereign from 1824 still has a monetary value of £1, it's the _intrinsic_ value of the base metal that'll command a higher price than that) and are tax exempt partly because it's not appropriate to charge tax on legally necessary monetary tokens, but also because that face value will weaken through inflation (The engineered tax on retained wealth) over time. 🎈 Long story short: If you buy _Bars_ you'll have to pay VAT, but if you buy _Coins_ bearing any valid currency amount on them (e.g. Royal Mint coins in GBP, French coins in FF or EUR) your purchase will almost always be VAT exempt. 👍

20% Brexit tax is too much for me.

I just did a quick currency comparison,here in Canada,a tube of 25 2023 maples is about 875$ Cad.which converted to 537£. I don’t know what you’re actually paying over there if you were to buy the RCM maples. Hello from British Columbia.

Get some Goldbacks. They are beautiful and useful. But if you get VAT taxed on them then avoid it.

I'm 15 years old and I have £150 how do I start to stack silver best place to buy thanks 👍

You keep contradicting yourself. Don't buy silver buy gold but buy silver aswell?? Stick to one thing amd stay there.