Which silver bar should I choose?

Question

Accepted Answer

The choice of a silver coin or Silver bar is important because of VAT. Silver is an industrial metal as opposed to gold, which is categorized as a monetary metal. As a result, 21% VAT is charged on silver bars. As 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 in a customs depot, no tax is levied on them. These bars are therefore VAT-free!

Read more in the Starter's Guide – What do I buy??

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