Whether you pay VAT on the purchase of silver depends on the form in which you buy it. Different VAT rules apply to silver bars and silver coins.

At Holland Gold, we offer several ways to buy silver, so that you can choose the most favourable VAT treatment within the applicable rules. Below, we explain the difference between silver bars and silver coins.

Do I pay VAT on silver bars?

Unlike investment gold, silver bars are not exempt from VAT. If you buy a silver bar that you keep at home or have stored in the Netherlands, you pay 21% VAT on the full purchase price.

For private individuals, this VAT cannot be reclaimed. If you buy silver as a business, the VAT paid may be reclaimable under certain conditions. Whether this is possible in your situation depends on your business and tax position. We therefore advise you to discuss this with your accountant or tax adviser.

Do you want to buy silver bars without paying 21% VAT on the purchase? At Holland Gold, you can buy silver bars in combination with insured storage in a bonded warehouse in Switzerland or Singapore, and you do not pay VAT on the purchase. As long as the silver bars remain in the bonded warehouse in Switzerland, you do not pay VAT when buying or selling. Dutch import VAT only becomes payable upon import into the Netherlands.

You can also buy physical silver per gram via the precious metals account. The silver is securely and insured stored in a bonded warehouse in Switzerland. Because the silver is purchased and stored within this bonded warehouse, you do not pay VAT on the purchase.

Do I pay VAT on silver coins?

For silver coins, the VAT treatment depends on the type of coin. We distinguish between new coins and coins from various years, also known as pre-owned coins.

New silver coins are subject to 21% VAT on the full purchase price. Since 2025, European VAT rules have changed, meaning that new silver coins can no longer be offered under the margin scheme in the same way.

Silver coins from various years are purchased by Holland Gold from private individuals, among others. These coins can be offered under the VAT margin scheme. Under this scheme, VAT is not calculated on the full selling price, but on the dealer’s profit margin. As a result, these coins are usually considerably more favourable for private investors than new silver coins on which 21% VAT is charged on the full purchase price.

Do I pay VAT on Dutch silver coinage?

You do not pay VAT on Dutch silver coinage at Holland Gold. This includes, for example, historic silver guilders and rijksdaalders that were actually in circulation as Dutch currency and contain 72% pure silver.

This can make Dutch silver coinage an attractive way for private investors to buy physical silver without 21% VAT being added to the purchase price.

How can I buy silver as favourably as possible for VAT purposes?

Do you want to buy silver as favourably as possible from a VAT perspective? At Holland Gold, we offer several options:

• silver coins from various years that are offered under the margin scheme
• Dutch silver coinage, on which you do not pay VAT
• silver bars in combination with insured storage in a bonded warehouse in Switzerland or Singapore
• physical silver per gram via the precious metals account in the Holland Gold app or customer portal, securely and insured stored in a bonded warehouse in Switzerland

This allows you to choose between silver coins, Dutch silver coinage, silver bars or silver per gram, depending on your preference, while taking into account the VAT treatment that is most favourable for you.

How does VAT work for other precious metals?

Different VAT rules apply to other precious metals. Investment gold is exempt from VAT, while platinum and palladium are subject to rules similar to those for silver.

Would you like to know exactly how this works? Read more about the VAT rules for gold, platinum and palladium.