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No, buying silver is not always VAT-free. Silver bars that you store yourself and newly issued silver coins are subject to 21% VAT because silver is considered an industrial good. However, private individuals can still buy silver without VAT.
Silver coins that we purchase from private individuals (so-called mixed years), and therefore not sourced directly from a mint, are exempt from 21% VAT. Holland Gold also offers silver bars that are securely stored through Holland Gold Safe in a customs warehouse in Switzerland or Singapore. These bars can also be purchased without 21% VAT. When you buy silver through our precious metals account (via the Holland Gold App or the customer portal), you also pay no VAT because the silver is stored in the same customs warehouse in Switzerland.
As an entrepreneur, you can reclaim the 21% VAT, but this is not possible for private individuals.
Learn more about the difference between silver coins and silver bars
Read more about how to buy silver
