Let's Take A Look At The Royal Mints New Offer
Evening folks
The weekly silver hunt for cool new things sadly came up with very lackluster new coins on my usual go to places like The Canadian Royal Mint and The Royal Mint in the UK
But while browsing The Royal Mint I came across one of their new listings, which is their 'Best value 1 oz silver bullion coin' listing.
On the face of this it looks to be a fairly interesting potential buy from The Royal Mint. Basically they have a bunch of 1 oz silver coins that they want to shift from their reserves, so they have priced it at the lowest price for a 1 oz coin on their site.
It is very vague on what coins are in the selection, but ' they will select a 1 oz silver bullion coin from varying dates'.
No dates,designs or portraits are confirmed, but it does confirm that Britannia coins are not included in this deal.
From a solely 1 oz point of view, this is definitely the cheaper option if you aren't fussed about what you will receive. I assume there is potential for some really good coins like the Merlin coin which is amazing and one of my favourites that The Royal Mint have produced in recent years.
To get their truly best value coins, you need to buy 100+ at £32.06 each coin which thankfully does include VAT.... WTF
The Royal Mint are robbing bastards for sure in the UK market.
A cool minimum of £3206 pound for 100 1 oz coins is pretty neat, as it includes free postage and packaging....😒
With spot value currently sitting at £22.47 at time of writing, the premium on these coins is beyond mental.
£2247 at spot value for these coins seems a much fairer price. If it was £2500 I could even see it being worth it. But nearly £1000 more due to vat is just absurd and really does affect my buying ability here in the UK sadly
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I experienced not paying tax on coins when I started stacking for a year and a half. I still think that purchases for coins should not be taxed, !LOL
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My issue is the capital gains tax in the UK
Along with my crypto stuff il be screwed haha
I stopped buying junk silver since there is now a VAT on these in Canada. No VAT on 999 bullion coins unless they are numismatic as well slapped with a Provincial sales Tax. Our governments are getting desperate for more tax revenue and are looking to Tax asset appreciation! This will doom our Investment, Stock and Housing markets.
What's the vat for you lot?
Ours is 20% which is steep on something like silver coins
Federal Goods & Services Tax 5% GST + Provincial Sales Tax 7% PST = Bull Shit Tax BST of 12% and subject to future Capital Gains Tax.
Holy shit thats ridiculous!
Yeah I read it more often that it's different in the UK buying precious metals. I recently bought two coins from the Spanish royal mint and these were not subjected to VAT it said, the price of the coins was the face value as well but I don't know if that's because I'm a resident..
!PIMP
Oooo I need to go to spain XD
!Pizza
I don't know how the offer is here compared to UK though, often I bump into coins I want and are just way too overpriced here or not even possible to buy. Or just at one store who is then sold out.. I noticed most coins offered from the Spanish mint (or at least most of them where I checked the details) were sterling rather than 0.999 silver..
Is that a thing there as well?
!PIMP
Oooo all ours on the bullion pages are .999 silver. Havnt seen any sterling yet, but I have only looked at bullion.
Makes sense to keep eye out on it though
!PIZZA
!KING
Just checked the Spanish royal mint and saw this when selecting the items:
just a few are 999 as you can see.. by far most of them is sterling ..
!PIMP
That seems an odd choice as a starter. Maybe silver isn't as popular there?
I don't know if it was ever different because I just know what's on there from this year.. Can't say why as I never looked into it. I only bought 925 because the face value was exactly the same as the price so I figured worst case when I want to dump them, I spend them in the store, lol.
!PIMP there you go, a final pimp vote for your next weekly stats post :)
Makes sense if you guaranteed face value back. That's a no brainer really. I like it
I'm actually just writing the post now, as always 2 weeks late 🤣
!PIMP
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