This is a good lesson for people who pay high premiums to have the latest releases of made for collector coins. Buying the same coins on the after market a few years later as bullion is a lot less expensive and just as satisfying.
Exactly my friend. Although many won't appreciate hearing it. Would I be correct in assuming that this is how you have acquired many of the pieces in your outstanding collection?
Yep I’ve been buying from a “mainstream “ bullion dealer, I’ve got what I feel I want now in silver, more of a gamble than an investment, my focus is mainly on gold now. I have a 8 to ten year plan so I feel gold is the way to go for me, as I don’t know enough about silver to be confident in buying it second hand. Great video again brother! If I was to be able to start over I would definitely have bought second hand silver. Hindsight is a wonderful thing lol…. But I’ve got a 10% 90% silver to gold percentage so no big deal. Really enjoying learning and playing around with stacking! Thanks for sharing your knowledge and experience again mate! Very best wishes 👍🏽👍🏽😎
In a previous video I went over the possibility that the government could well screw us over by whacking VAT on gold too at some point, so gold is a pretty good move as well.
So, Royal Mint silver bullion is not exempt from VAT? I always thought they were. How do you define secondary market, peer to peer? How about "used" coins from bullion dealers in the UK?
Anything used Sal. So someone can buy it from the royal mint one week and then sell it the next and it becomes secondary market. There may be some businesses that are VAT registered that may have to charge it, but I'm not sure.
Excellent vid as usual mate, you know I stack none bullion pre 1945 precious coins for these reasons, plus the history and fact I do not have to try and keep up with continual new releases, I get my bars from the secondary too and save a fortune there, got 3 new coins to show you, 2 superb ones and the other a naughty dud that I was fully refunded on straight away and told to keep it (guilty conscience maybe).
@@CyberCurtainTwitcher lol no it aint fake, was sold as UNC, it was dirty but that does not bother me, but seller couldn't see the two die cracks and what looks like a dirty great scratch mark on one side.
Whilst there are still some healthy premiums on the 2nd hand market it's the best way to pick up silver in the UK I agree. I picked up a few hundred oz of British and mixed world coins last year to get around the premiums and vat.
Yes. Even premiums on the secondary market have certainly gone up massively in the past few years. My lcs used to charge £2-£3 over per ounce, nows its more like £5-£8.
Hi, Cyber. No VAT in NM. I picked up two killer-toned 1938 D/D Buffalo nickels this past weekend at the Albuquerque Coin Show. The dealer is responsible for the taxes. I like the Canadian Buffalo Skulls. *TYU*
Thanks, CCT! I know this is an older post - but I really wish that a similar rule to your Secondary Market VAT exception would be applied to our California (USA) state sales tax! Our sales tax exception was recently raised to $2000 per bullion or coin purchase transaction. This ridiculous (around 10%) tax unfairly affects lower income stackers the most - practically forcing them to make all their purchases in-person in other states.
If you can get them at the right price, yes. Here's a useful site where you can look up any coin: en.numista.com/catalogue/pieces38665.html There are multiple variations of the 20 Crowns. Some sterling, some pure. They are all on there if you search for them. Hope that helps.
I thought I covered it in the video. For example, buying from a coin shop who has bought from people coming into the shop. Buying from someone who has already bought the item. Many online dealers also sell secondary market silver where the only VAT due is on the profit they make. A considerable amount of my silver is bought secondary market. Many times from people who have overspent and need funds urgently. Sometimes they have only bought the coins weeks ago but now find they need to sell.
Thank you for your very helpful video. I am totally new to all this so buying on the secondhand market would probably be very risky as I have no idea what I’m doing really! Maybe I will see if I’ve got a local shop here in the Isle of Wight It does seem a cheek that VAT is put on bullion that was a shock to me Anyway thank you very much. Christine
Heres another idea: Set up a new company "Stackers R Us Conglomerates" and register the company for VAT. Buy your silver and fill out your VAT return every quarter and claim your VAT back, there is nothing saying a company actually has to sell anything whatsoever, then after a good few years of buying deregister for VAT as your turnover is less than the threshold, infact i dont know why every single person in th UK does not register their own person as a company and register it for VAT then claim the VAT back on absolutely everything, but that might just not be in the spirit of the game and make a bit of a mockery of things.
You dont need to set up a ltd company to be vat registered but you do need to sell vatable products and you would have to be able to justify the silver purchases as a business expense to claim the vat back on them. In other words that would not be legal
Ive done silver bullion before, but sold it after about a year and a half when it went up a bit, at a loss obviously, cos of the vat and over spot price ect...silver is just not an investment i found. Be very careful with that, gold has done a lot better- just look at the last 5 years and 10 years history, take into account the vat you'll pay as apposed to gold bullion that is both vat and capital gains free and make your decision. Id rather have 500 or 600 pounds worth of gold than silver any day! And takes up far less room in storage. Silver makes sense in an environment that has no tax and vat, and youre moving it in and out of the highs and lows making profits like some of those American states but honestly might be better to do even half an ounce of gold instead. Just my experience and opinion. End of the day, the main thing about investment! : dont do something because others are doing it and it looks impressive or wealthy or well to do...do something that A: makes total sense TO YOU. B: you understand what effects and drives your investments of choice. C: most importantly, its actually working for you, not just in theory but practically in real life.
In other videos, I have covered how I have doubled and even quadrupled my outlay on some of the silver I purchased six or so years ago. I have of course also doubled my money on some of my gold bought back in 2015. I stopped buying silver that had VAT on it many years ago.
Where can I buy second hand sliver in the U.K.? I thought the video would let me know, instead you just said “buy it on the secondary market” which I knew anyway. Thanks
Search for coin shops or antique dealers in your area. I think I did mention in the video about online groups like UK Silver Stackers& The Silver Forum. I also use Instagram myself.
@@CyberCurtainTwitcher thank you I appreciate the reply. I’m new to stacking. Have stocks/shares and crypto which I’m holding for the long term but it’s time I diversify. I bought my first gold sovereign this week and want to start stacking silver too. Appreciate the help, thanks
@@CyberCurtainTwitcher thank you I appreciate the reply. I’m new to stacking. Have stocks/shares and crypto which I’m holding for the long term but it’s time I diversify. I bought my first gold sovereign this week and want to start stacking silver too. Appreciate the help, thanks
@@livingart2576 Congrats on getting you first sov. My best priced sovereigns have nearly always been from my local coin shop (lcs). I have covered this in several videos including a recent 1/4oz britannia at spot from there too. I do use online dealers as well, but always shop around for the best deal. For silver, I would definitely look at uk silver stackers or the silver forum. I have bought and sold on both platforms without issue.
@@CyberCurtainTwitcher thanks again. I’ll subscribe and check out your other videos. I went on the silver forums but couldn’t see any new sales in over a year. Maybe I didn’t search properly
Buy on holiday if u visit a country with low or no tax. Keep it under your customs allowance of about £400. Obviously ur not buying in the UK so it is a bit out the context of this video.
@@CyberCurtainTwitcher Sorry I mean if u buy on holiday ur not buying int he UK, so it is a bit of a cheat in the context of this video. How to avoid UK vat.....leave the country wouldn't be very helpful as a video 😂 cheers
Good stuff , Educational and I got to see some wonderful pieces , Thankyou.
Thanks.
Excellent collection and great advice. Thank you for sharing! All the best, Elly 🪙🪙🪙
Thanks for stopping by.
Wow what a great lil. Collection you have there out on the table. I agree. Purchasing second market is a fantastic way to avoid tax.
Those Franklin mint pieces are still stunning today, despite being forty or fifty years old.
This is a good lesson for people who pay high premiums to have the latest releases of made for collector coins. Buying the same coins on the after market a few years later as bullion is a lot less expensive and just as satisfying.
Exactly my friend. Although many won't appreciate hearing it.
Would I be correct in assuming that this is how you have acquired many of the pieces in your outstanding collection?
@@CyberCurtainTwitcher Yes, except for some new bullion coins, which didn't used to have the crazy high premiums over spot that they have now.
Yep I’ve been buying from a “mainstream “ bullion dealer, I’ve got what I feel I want now in silver, more of a gamble than an investment, my focus is mainly on gold now. I have a 8 to ten year plan so I feel gold is the way to go for me, as I don’t know enough about silver to be confident in buying it second hand. Great video again brother! If I was to be able to start over I would definitely have bought second hand silver. Hindsight is a wonderful thing lol…. But I’ve got a 10% 90% silver to gold percentage so no big deal. Really enjoying learning and playing around with stacking!
Thanks for sharing your knowledge and experience again mate! Very best wishes 👍🏽👍🏽😎
In a previous video I went over the possibility that the government could well screw us over by whacking VAT on gold too at some point, so gold is a pretty good move as well.
Thanks! I’ve got to catch up with your latest videos! I appreciate your response! I’ll be digging deeper then! Best wishes mate 👍🏽👍🏽😎
Great information my friend! Thank you so much for sharing! Excellent video!
Thanks for stopping by.
Thank you for the great video 🥰
Thanks for stopping by.
Haha love it dude! Great video man❤
Thanks.
So, Royal Mint silver bullion is not exempt from VAT? I always thought they were. How do you define secondary market, peer to peer? How about "used" coins from bullion dealers in the UK?
Anything used Sal. So someone can buy it from the royal mint one week and then sell it the next and it becomes secondary market. There may be some businesses that are VAT registered that may have to charge it, but I'm not sure.
Great idea my friend that is why we need to find a LCS fast .we all like to save. 50% is still awesome great video awesome tips
Thanks.
Excellent vid as usual mate, you know I stack none bullion pre 1945 precious coins for these reasons, plus the history and fact I do not have to try and keep up with continual new releases, I get my bars from the secondary too and save a fortune there, got 3 new coins to show you, 2 superb ones and the other a naughty dud that I was fully refunded on straight away and told to keep it (guilty conscience maybe).
Is that naughty dud headed my way? I'm trying to guess what it was, but have no idea.
@@CyberCurtainTwitcher lol no it aint fake, was sold as UNC, it was dirty but that does not bother me, but seller couldn't see the two die cracks and what looks like a dirty great scratch mark on one side.
After the first 25 seconds of the video , already subscribed and belled.
Thanks 👍
Whilst there are still some healthy premiums on the 2nd hand market it's the best way to pick up silver in the UK I agree. I picked up a few hundred oz of British and mixed world coins last year to get around the premiums and vat.
Yes. Even premiums on the secondary market have certainly gone up massively in the past few years. My lcs used to charge £2-£3 over per ounce, nows its more like £5-£8.
@@CyberCurtainTwitcher Same. My most LCS does pay more than spot for the silver bullion though to buy it in
Very educational 👍🥰
Thank you 🤗
A trip to the LCS is always fun. I prefer to by second hand silver from there. I haven't bought from main dealers (new stock) in a long time now.
Same here.
Hi, Cyber. No VAT in NM. I picked up two killer-toned 1938 D/D Buffalo nickels this past weekend at the Albuquerque Coin Show. The dealer is responsible for the taxes. I like the Canadian Buffalo Skulls. *TYU*
Hi Donald. glad you are still managing to find something.
Hi Donald, they did an amazing job with Buffalo nickels with the high relief and classic design. BU examples are stunning.
Thanks, CCT! I know this is an older post - but I really wish that a similar rule to your Secondary Market VAT exception would be applied to our California (USA) state sales tax! Our sales tax exception was recently raised to $2000 per bullion or coin purchase transaction. This ridiculous (around 10%) tax unfairly affects lower income stackers the most - practically forcing them to make all their purchases in-person in other states.
Wow! I didn't realise it was 2k there. I've bought in NY several times where it's $1000 minimum to avoid tax.
Hi CCT,
thanks for sharing 👍
Greetings
Thanks for stopping by Lotte
What info do you have on the turks and caicos Islands 20 Crown coins as I can't find any info on them, are they worth staking?
If you can get them at the right price, yes. Here's a useful site where you can look up any coin: en.numista.com/catalogue/pieces38665.html
There are multiple variations of the 20 Crowns. Some sterling, some pure. They are all on there if you search for them. Hope that helps.
@CyberCurtainTwitcher thanks a lot for the infoand keep up the good work
Can you please give me an example of a secondary market?
I thought I covered it in the video. For example, buying from a coin shop who has bought from people coming into the shop. Buying from someone who has already bought the item. Many online dealers also sell secondary market silver where the only VAT due is on the profit they make. A considerable amount of my silver is bought secondary market. Many times from people who have overspent and need funds urgently. Sometimes they have only bought the coins weeks ago but now find they need to sell.
Thank you for your very helpful video. I am totally new to all this so buying on the secondhand market would probably be very risky as I have no idea what I’m doing really! Maybe I will see if I’ve got a local shop here in the Isle of Wight
It does seem a cheek that VAT is put on bullion that was a shock to me
Anyway thank you very much. Christine
You're welcome. You could always have a look on uk silver stackers or the silver forum.
If i can be of any further help please feel free to email me.
Many thanks for your reply I’ll have a look
Thanks for the video
No problem!
You can also avoid vat on your silver by having generous subscribers send you silver coins for free! 😂😂 Thanks for sharing Cyber 👍🏻😊
Hahahaha
Heres another idea: Set up a new company "Stackers R Us Conglomerates" and register the company for VAT. Buy your silver and fill out your VAT return every quarter and claim your VAT back, there is nothing saying a company actually has to sell anything whatsoever, then after a good few years of buying deregister for VAT as your turnover is less than the threshold, infact i dont know why every single person in th UK does not register their own person as a company and register it for VAT then claim the VAT back on absolutely everything, but that might just not be in the spirit of the game and make a bit of a mockery of things.
That would certainly be entertaining.
You dont need to set up a ltd company to be vat registered but you do need to sell vatable products and you would have to be able to justify the silver purchases as a business expense to claim the vat back on them.
In other words that would not be legal
Wow very nice collection coins ❤❤❤🙏
Thanks.
@@CyberCurtainTwitcher 🙏🙏🙏
Definitely worthwhile buying 2nd hand. I'm really sick of excessive taxation.
Same here. I do buy the odd piece here and there, but it's minimal in comparison to the bulk of my stack.
What's Up Sir!!! I haven't seen u in a long while on my channel. Like #31. Hope u are doing great???
Likewise.
What is LCS? is this a place in UK?
Local coin shop. Universal saying.
There's an online dealer selling pre-owned with full VAT.
Well they won't get any of my business, that's for sure.
Well I didn't know any of this
The move to tax silver by the government was lower than a snakes belly.
@@CyberCurtainTwitcher but it wasn't a surprise
Hi.you want sale silver sets?I like them.what prices please?
You will have to contact me via email.
The only problem with buying second hand is is it real or a fake
That's why i have a CCT silver slide to test it😁
They should only charge Vat on the premium really.
I agree, but this is rip off Britain.
What's the perfect sandwich for any occasion?
Marmite of course 😁
That checks out
Ive done silver bullion before, but sold it after about a year and a half when it went up a bit, at a loss obviously, cos of the vat and over spot price ect...silver is just not an investment i found. Be very careful with that, gold has done a lot better- just look at the last 5 years and 10 years history, take into account the vat you'll pay as apposed to gold bullion that is both vat and capital gains free and make your decision. Id rather have 500 or 600 pounds worth of gold than silver any day! And takes up far less room in storage. Silver makes sense in an environment that has no tax and vat, and youre moving it in and out of the highs and lows making profits like some of those American states but honestly might be better to do even half an ounce of gold instead. Just my experience and opinion.
End of the day, the main thing about investment! : dont do something because others are doing it and it looks impressive or wealthy or well to do...do something that A: makes total sense TO YOU. B: you understand what effects and drives your investments of choice. C: most importantly, its actually working for you, not just in theory but practically in real life.
In other videos, I have covered how I have doubled and even quadrupled my outlay on some of the silver I purchased six or so years ago. I have of course also doubled my money on some of my gold bought back in 2015. I stopped buying silver that had VAT on it many years ago.
Where can I buy second hand sliver in the U.K.? I thought the video would let me know, instead you just said “buy it on the secondary market” which I knew anyway. Thanks
Search for coin shops or antique dealers in your area. I think I did mention in the video about online groups like UK Silver Stackers& The Silver Forum. I also use Instagram myself.
@@CyberCurtainTwitcher thank you I appreciate the reply. I’m new to stacking. Have stocks/shares and crypto which I’m holding for the long term but it’s time I diversify. I bought my first gold sovereign this week and want to start stacking silver too.
Appreciate the help, thanks
@@CyberCurtainTwitcher thank you I appreciate the reply. I’m new to stacking. Have stocks/shares and crypto which I’m holding for the long term but it’s time I diversify. I bought my first gold sovereign this week and want to start stacking silver too.
Appreciate the help, thanks
@@livingart2576 Congrats on getting you first sov. My best priced sovereigns have nearly always been from my local coin shop (lcs). I have covered this in several videos including a recent 1/4oz britannia at spot from there too. I do use online dealers as well, but always shop around for the best deal. For silver, I would definitely look at uk silver stackers or the silver forum. I have bought and sold on both platforms without issue.
@@CyberCurtainTwitcher thanks again. I’ll subscribe and check out your other videos.
I went on the silver forums but couldn’t see any new sales in over a year. Maybe I didn’t search properly
Hey buddy.😉
Hi Lovie
4th. :) :) :)
Hello my friend.
Lovely Mexican Olympics 💕
@@VOGASforVeinOfGoldAndSilver That's a proof like one. Not very common.
@@CyberCurtainTwitcher :)
Hola, VOGAS. Good to see you. *TYU*
geez 20%... gotta pay for those social programs i guess.
Tell me about it!
TAX EVASION 101
AVOIDANCE! NOT "EVASION".
HEYA ALWAYS THRILLED TO CATCH A GODDESS IN FULL BLOOM!
@@silverdrillpickle7596 I'm still waiting for her to send me a pic of herself in full bloom!
❤😂🎉🎉🎉
Thanks for stopping by.
Taxes suck
Don't they just!
Why do you and others wear gloves in your video
If you watch my most recent video, I explain why in that.
Buy on holiday if u visit a country with low or no tax. Keep it under your customs allowance of about £400. Obviously ur not buying in the UK so it is a bit out the context of this video.
Yes I do buy in the UK, as that is where I reside.
@@CyberCurtainTwitcher Sorry I mean if u buy on holiday ur not buying int he UK, so it is a bit of a cheat in the context of this video. How to avoid UK vat.....leave the country wouldn't be very helpful as a video 😂 cheers
its simple move out of the UK
Where do you suggest? Saudi Arabia maybe?
@@CyberCurtainTwitcher dubai, mumbai or shanghai otherwise kiss your silver bye bye
Such a shame, the whole concept of VAT taxes. Look at how it discourages consumers from buying new products.
There sure are some crazy rules around VAT. It was supposed to be only on luxury products but how are shoes and bleach a bloody luxury!