Wednesday Night Silver Vlog
Talking stacking advice and my early mistakes. Silver stacking Vlog below
Ps- my advice is from the point of view of where I live in USA. If u have tax penalties wity metals where your from this advice May not be best bet for u.
What you say is probably valid in the US, but not in some other countries. Here in Germany for example, its cheaper to buy the simple (not the collectibles) currency coins from Canada, Australia, New Zealand, but also Austria and even the USA if the price is good.
That is a matter of tax laws we have here, regarding the VAT. Silver that is not minted to a official currency - which ever that may be - is due the full VAT rate, while currency coins are under a reduced rate. There are even bars declared as currency from Fiji and the Cook Islands, just for that reason.
Because of this, I dont have any commercial medals or plain bars. But I also dont bay collectible coins or overpriced ones, like the ones from Mexico, China or the UK. I dont see how I can find someone who is prepared to pay a collectors price, just at the time I need to sell it. Then it comes down to what you say - they just pay for the silver weight, and nobody cares whats printed on it.
Anyway, I just wanted to point out that tax thing.
In USA we don’t have taxes on metals. Perhaps that changes that has overseas. Here in USA the rounds are much cheaper.
Well, you are lucky there. Here the VAT is due on all metals - with the exception of Gold. Gold is tax free of VAT in any form, and even on profits you make in a sale the is no income tax due if you owned the Gold for more than a year. I think these tax laws are similar im most european countries.
It is somewhat unfortunate, because I always wanted a bit of Platinum in my stack as well. But there are very few Platinum currency coins around (the Russians made one years ago I think) and on bars I have to pay the full 19% VAT.
Wow!
Nice little bounce this morning means nothing. I’m out till I see the trend change
Good advice for newbie's, quantity over quality is the way to go my friend. More oz's for your hard earned fiat toilet paper, cheers mate.