Silver bars do attract VAT of 21% if imported into Ireland.
100 oz. and 1000 oz. silver bars can be bought and stored in depositories in the US, the tax free zone in Zurich airport or in unallocated or allocated accounts in the Perth Mint (avoiding VAT).
Silver in PMCP allocated accounts cost 2.5% storage charge per annum and small fabrication fee over the spot rate. Unallocated accounts do not have any annual fee or fabrication fee and are thus more competitive and for that reason most popular. Many go unallocated but intend converting to allocated should their be a large short squeeze and uncertainty in the precious metals and wider financial markets.
If you really want to take delivery of your silver bullion then large Silver US Dollar Legal Tender Bullion Bags can be imported into Ireland.
Due to their legal tender status they are VAT free.
These silver coins are US dollars, half dollars and quarters used as day to day currency in the US up until 1970 when all coinage became made of base metals.
The disadvantage of the bags is that they are very heavy (90% bags are 715 oz. of pure silver and weigh 795 oz.). Thus insured delivery of these bags is expensive at some €220 each way. The bag must be returned to a specialist depository to be resold. Thus they are not for investors looking for a return rather they are used as a permanent insurance or savings component of a portfolio.
None of these methods seem particularly attractive really.
Why would you discard Perth mint as an option ?
I wouldn't discard it entirely - in fact for a buy and hold investment it is reasonably attractive. Especially for silver, unless you have a huge amount of spare room in your house! Just that the minimum buy in of $10k is more than I want to invest in silver right now.
An option for the future though certainly.
I could get 5KAUD as i have residency so might go for it. Would it be just as easy to sell as it would be to buy ?
Gonna hold off as trying to figure out if there is going to be a correction in global capital markets this year which will also have an effect on metals ?
Absolutely impossible to predict. Why not buy half now and half later? Or (more complicated) hedge your bets by purchasing a put option on gold futures?
The PMCP is definitely for longterm gold investments so short-term fluctuations in price should not be a concern.
This column is suggesting a correction in global capital markets and a lower oil price in Spring 2007, so that might make the summer a good time to buy silver to profit from an upturn in the autumn.
Yes impossible to predict.
Whats your opinion on this article.
[broken link removed]
Lots of reputable dealers selling single coins on ebay. Do lots of research to try and get a good price and buy graded - M65 or above for rare gold coins should facilitate easy resales.
Here's an article:
[broken link removed]
How is this not soliciting for business?
How is this not soliciting for business?
A question comes to mind - is the demand created by the ETF purchases a "real" demand or just speculation ?
What do you mean by this? How is the demand created by physical purchase any more or less "real"?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?