Do I pay VAT on gold?

Within the eurozone, gold is exempt from VAT, as long as it is Gold bars with a purity of 24 carats and Gold Coins with a purity of at least 90%. The reason for this is that the European countries and the ECB classify gold as a form of financial wealth that must be freely tradable, similar to stocks and bonds.

Do I pay VAT on silver, platinum and palladium?

Within the euro area, silver-, platinum-and palladium are not exempt from VAT and are therefore subject to VAT. 

In contrast to gold, the choice of bars or coins for silver, platinum and palladium is more important because of VAT. These metals have an industrial character, a raw material. As a result, 21% VAT is charged on silver bars. As is the case for all other "white" precious metals such as platinum, palladium and rhodium. It is therefore better for private individuals to purchase silver coins: silver coins fall under the margin scheme in the Netherlands. In the case of the margin scheme, the trader does not calculate VAT on turnover, but on the difference between the selling price and the Cost of the goods: the (profit) margin.  As a result, a lot less VAT is paid for silver coins. It can only be interesting for business customers to buy silver bars because in some cases they can reclaim the VAT. 

The most advantageous for both individuals and business customers is to Silver bars or platinum bars to be purchased in combination with storage outside the EU, such as in Switzerland or Singapore. Because these bars are at a customs depot, no tax is levied on them. These bars are therefore VAT-free!