(25 June 2013, 12:50)Tarrel Wrote: [ -> ]If you buy silver, you pay VAT on it. If you buy gold coins you don't, as they are regarded as legal tender. So, for every £100 you invest in silver, you get £80 worth of silver and the government gets £20. Neat, huh?
Yep yer dead right it sucks paying vat on Silver, it's because Silver is the poor mans bullion and TPTB want to tax us into oblivion. The rich buy Gold that's why there is no vat on it, it's a fkin stitch up.
bastards
I think gold is too compact for most preppers. Silver is better because you can get a little at a time and build it up.
Just to clarify, I think precious metals will largely be worthless, or rather, there will be little demand during any crisis. I was intending to sell it off when the price for precious metals skyrockets during the slow slide collapse, and then use that to clear any debt I have so it doesn't bite me if things get back to normal, or if TPTB decide to take it out on students. I have some "junk" silver pre-1920 coins for barter in the long term.
Yes, precious metals are a good hedge when every other form of investment is unpredictable at the moment. However, do bear in mind that 20% VAT. You're effectively taking a 20% loss as soon as you make the investment. Price would have to rise 20% just for you to stand still.
You can buy gold in quite small quantities. Quarter Sovereigns are currently going for £61 each at Bullionbypost.co.uk, VAT-free. I can't vouch for the seller, but useful to get an idea of price.