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Silver has perhaps been the most discussed precious metal of recent months. Since the beginning of 2026, the silver price has risen by more than 24 percent. But what is actually the best way to invest in silver?
There are many different products available, and it is less straightforward than buying gold bars and gold coins. When should you choose silver coins, when silver bars, and when storage and the precious metals account?
There is no single best investment; the most important thing is always to look at what best matches your needs as an investor. With silver, it is particularly important to pay attention to VAT, because many silver bars and some silver coins are subject to VAT that you cannot recover when selling. In that case, you effectively “lose” 21% for nothing. This is different for business customers. Naturally, we also offer various options for private investors to buy silver VAT-free or under the margin scheme.
Please note that the tax rules and investment options described in this article are based on the Dutch market and Dutch tax legislation.
Purchase your silver through the precious metals account via our app or through a monthly savings plan. This is the easiest way to buy physical silver without having to worry about VAT. You can log in 24/7 and buy or sell silver per gram. You purchase silver at a small percentage above the international silver spot price, with transaction fees charged in addition. Storage fees are charged quarterly, amounting annually to 0.9% of the average value of the silver you own (pro rata for the number of days it is actually stored in our vault).
The silver you purchase per gram is stored across different 1000 troy ounce silver bars in Switzerland. These bars of more than 31 kilograms are held in insured storage in our vaults at Loomis in Zürich. You are the full legal owner of your silver, meaning your holdings are protected against counterparty risk.
The Holland Gold App is easy to use, and installation and account setup take only a few minutes. If you have questions or prefer to place an order by phone, our customer service team is ready to assist you directly.
As a private investor, silver coins from various years are usually the best choice if you prefer to keep the coins in your own possession in the Netherlands, for example at home or in Holland Gold’s storage facilities at Brinks in Amsterdam. These coins fall under the margin scheme because they have previously circulated among private owners. Under the margin scheme, the silver value of the coin is exempt from VAT, and VAT is only charged on the margin above the silver price charged by the dealer. This should not be confused with coins from the same mint that are newly struck. These are subject to 21% VAT. This is always stated with the product. Since 1 January 2025, newly struck silver coins have been subject to VAT.
It is also important to realise that when reselling silver coins, we regularly offer a premium above spot price; see current prices here. This premium is determined by market conditions in the silver trade. All products purchased from Holland Gold come with a buyback guarantee, meaning you can always sell them back to us. These percentages are important. If you calculate the purchase price of a silver coin back to the price per gram, it may appear relatively expensive compared with the silver price, but because you also receive around 11% above the silver price when reselling, these coins generally outperform silver bars or newly struck coins with VAT.
A major advantage of holding silver in self-custody is that in the event of a crisis or international tensions, you can always access your silver quickly. For some customers, the physical nature of value also plays an important role. You literally hold it in your own hands, and sometimes this also makes giving silver to children or grandchildren more direct and meaningful. Naturally, always pay attention to gift tax rules and exemptions. Even when your silver is stored with us, you can always collect your investments at our office. Your property is stored at fixed locations and in numbered sealed bags, ensuring that you always receive exactly the same coins back. In short, coins held in self-custody or stored in the Netherlands offer more control over your holdings.
Silver coins are issued by internationally recognised mints, often linked to the countries issuing them. For example, the silver Britannia 1 troy ounce silver coin – various years is issued by the Royal Mint in England, which has a history of more than 1,100 years. The most widely traded coins worldwide are the Canadian Maple Leaf, South African Krugerrand, Australian Kangaroo, British Britannia, American Eagle and Austrian Philharmonic. All these coins represent the same investment value and are accepted worldwide. They are all minted in pure silver with a purity of at least 99.9%, in standard weights of 1 troy ounce (31.1 grams).
When choosing between coins, you can mainly consider two aspects: 1. Which coins are in stock? 2. Do you have a personal preference for a jurisdiction (country) where the coins are minted? This second point is more personal, because internationally the value of the coins is identical. It is more about whether you feel more comfortable with a Philharmonic minted in Europe showing a nominal value of 1.50 euro, or for example a South African Krugerrand minted by one of the BRICS countries.
Both private and business customers can choose silver storage in Switzerland or Singapore, where silver is stored in a bonded warehouse, exempt from VAT. Another major advantage of storage is the volume of silver. A 1000 troy ounce silver bar weighing 31.1 kilograms costs roughly the same as a 500 gram gold bar, while 500 grams of gold takes up only half the volume of 500 grams of silver because gold has a higher density. In other words, silver simply takes up much more space and weight than gold.
For larger investments, storage is more practical, and larger weights are proportionally more cost-efficient than smaller products. The smaller the product, the more production costs weigh on the purchase price. The only exception is the precious metals account, where you can buy silver per gram via the app. Silver purchased per gram costs the same per gram as a 1000 troy ounce bar. The main difference is that with a bar you receive a unique bar number registered in your name, whereas with the precious metals account your silver is spread across different bars. Storage costs are identical for both forms, namely 0.9% of the average silver value annually.
For physical silver in insured storage, business customers can choose either 100 and 1000 troy ounce silver bars in Switzerland (and 1000 troy ounce also in Singapore), or silver per gram through the precious metals account in Switzerland. The greatest advantage is that purchased precious metals can be booked on the balance sheet at purchase value, with corporate income tax only due upon sale on realised gains. All these silver bars are sold VAT-free and stored in bonded warehouses in Zürich and Singapore.
Please note the following: there are two accounting methods for booking silver on the balance sheet. This can either be at purchase value or by annually including value development. In the second case, you pay corporate income tax annually on value appreciation. Therefore, always align this clearly with your advisers.
Setting up a business storage account at Holland Gold takes only a few minutes, although for a complete application we do require your Chamber of Commerce and UBO details. These can easily be uploaded into our system. You can also use our app. Purchases and sales can be arranged online or by phone. If you would first like to get acquainted with us, you are always welcome for a consultation at one of our offices in Alkmaar or Rotterdam. For questions or to make an appointment, please contact us.
For business customers who prefer to manage storage themselves (or use storage with Holland Gold in the Netherlands), newly struck silver coins with VAT or silver bars with VAT may be an attractive purchase. In some cases, you may reclaim VAT, making newly struck coins or silver bars the best investment. Whether this applies depends on your business activities. This is because you do not consume silver in your business operations as part of a saleable service or product, but rather hold it as an investment. Consult your advisers (including tax adviser and accountant) to determine whether your business structure allows VAT recovery. If this is not the case, choose silver coins from various years (see also section 2: Private investor and physical silver in self-custody).
Also note the following: if you have a holding or private limited company, silver can be booked on the balance sheet at purchase price. Upon sale, you pay corporate income tax on realised gains. You must clearly coordinate with your accountant and advisers how this is processed in bookkeeping. There are two possible methods, and once one option is chosen, it cannot be reversed in accounting terms. It is important to choose purchase price treatment rather than annual value development. In the latter case, you would still have to pay annual corporate income tax on value appreciation. In the first case, you only pay tax on realised gains.
In all cases, you can sell silver coins and bars back to us including VAT. To arrange this, contact us by phone. We first complete the purchase confirmation with silver price fixing. After that, you can send an invoice based on that confirmation and charge VAT on the purchase price to us.
When selling back, we repurchase both bars and silver coins at 2% below spot. This differs from silver coins from various years, which are sold under the margin scheme and repurchased above silver spot. These differences are entirely related to taxation.
