The Best Silver Bullion Coin to Purchase in The UK!
https://www.youtube .com/watch?v=P1_AbecjsWg
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What if you sold the American Eagle to an American? (From the Uk) does CGT still count? Or even the Britannia to an American will CGT still count? Thank you!
You only pay CGT in the UK on profits that you make in the financial year that is above the current CGT free threshold of 12,300 GBP. So if you sell an American Eagle or a bunch you should be fine in regards to CGT so long as you are below that threshold. Also as far as I know selling Britannia’s to anyone is CGT free even if they are an American. With any Britannia’s or any legal tender UK minted coin you do not have to pay any CGT at all so you can sell over 12,300 GBP of profit in a year and pay 0% CGT. This is why I prefer to stack as a long-term investor UK minted coins to avoid all CGT and have no selling limitations in order to avoid CGT. I hope that makes sense.
Here is some additional info:
There is tax-free allowance of £12000 of profit (not the total value, but PROFIT alone) in each financial year, So for average people, nothing to stress about, your couple of Pandas and other coins are perfectly fine to stack.
Other UK coins CGT free are Queens beasts and UK lunar coins also Valiant and other UK future coins that are legal tender. Do not have to stick to Britannia coins only.
Pssst, just do not tell it to anyone, at the moment when I am typing these lines, UK lunar coins (some years) are cheaper than Britannia’s, they are ” fairly limited” supply, better strike (standard britannia’s usually have some slight imperfections) and come into original UK mint capsules also CGT free…..all that for less money……Hmmmmm
If you are buying or stacking silver in the UK I highly recommend you check out the Silver forum, thank me later
Seems really good idea but it’s very confusing to me I don’t understand how it works as I’m a new stackers someone help
Many thanks for the mention 🙂 and thank you for being part of our community
@James stott Wow nice info dude, I was thinking about checking the silver forum, you really sold it here haha
Bought my first coins today and they were all britannias…..ok I f’d up and bought 5 x 1oz dragons but my logic is they’re to keep and to mark my first silver purchase. Britannias all the way in future.
You can buy any coin that is minted by the Royal Mint as it is legal tender and there is no CGT tax on them. Britannias, Queen Beast Series, The Valiant etc.
But I just try to stick with CGT free bullion as it’s all about keeping as much of the profit that I can when it’s time to sell.
I think the dragons are also a Royal Mint minted coin too if I am not mistaken.
@The Audacious Investor Sadly they’re from the Perth mint with a value of $1. I’d need a lot to worry about cgt but like you I’m sticking with Royal mint bullion. Appreciate your feedback, happy stacking:)
Is it worth to invest a bit more for e.g anniversary edition of britannia in terms of sale in future? Or just a ordinary coins are better?
Ordinary coins in my opinion. I would rather buy a few ounces of silver than one ounce of a special edition. Because in the future if no one cares about the anniversary edition to pay the premium on it you would end up just having to sell it for whatever the going rate for silver is per ounce. My aim is to accumulate as much silver as I can with my money for the silver content without paying extra for it due to special editions etc.
The Audacious Investor I agree, an ounce of silver is an ounce of silver
Good advice
If I stick to UK old circulated silver coins, pre-1947, are they also CGT free on sale?
Where do you buy your Silver Britannia’s from in the UK? Which company does the best rates? And how do you tell if a coin is legit or not?
I don’t usually buy them from the UK. I bought them from Germany. But in the UK I would use Bullionbypost. Currently there is a delay on delivery though. I would only buy from a reputable dealer hence they are not in the business of scamming people but are professionals.
@The Audacious Investor Which website from Germany do you buy them from? appreciate you help.
Which European website do you use to buy silver?
https://youtu.be/SJ-bYWQ4WSE
use gloves m8
This is nonsense.
@The Audacious Investor your not gonna make 12k a year profit collecting those little coins mate.
@jim what are you talking about? Not making any sense. Sound like a hater though.
@The Audacious Investor not a hater, don’t be a snow flake.
I’m saying that you collect coins, a lot are uk currency and a lot aren’t. The UK ones are CGT free, the other ones aren’t. So you would need to make over 12k of profit on the non uk ones in order to pay between 10 and 20% tax on just those coins that aren’t uk currency. So if you had 800 non uk coins you would probably reach the threshold for tax if you bought them for £0 and sold them for £15 each.
How many non uk coins do you have? How much did you pay? How much will you get for them? Its a non problem.
I confirm, this video is nonsense..
@jim What are you on about? I confirm, I won’t be taking any advice from you if you think paying 20% CGT over a threshold of £12,000 in profit is better than paying 0% CGT.
If that is what you think then good for you, mate. I don’t and I think that is nonsense and illogical.
As for the questions about my coins that is none of your business… stop being nosy.
@The Audacious Investor lol, you must have a huge safe full of silver if this is something that genuinely keeps you up at night.
I would just like to add in regards to CGT and silver not mentioned in the video:
In the UK there is a CGT free threshold of £12,300 per year as of 2020/2021. So you only pay CGT on any silver profit that you make if it is over £12,300. If your profit is less than £12,300 then you can sell without having to pay the CGT.
However, with the UK minted legal tender coins like the Britannia’s for example you do not have to pay any CGT at all even if your profit is above £12,300.
This is why if you are in silver as a long-term investor and you want to make from it as much money as possible (over £12,300 in profits) in the UK then I prefer the UK minted coins that is exempt from CGT altogether.
CGT free coins would make the vast majority of my silver stack % instead of coins that has CGT attached to it.
Just my preference.
I bought a britania recently, I had to pay 20% tax simply because I wanted to hold it instead of letting them keep it in their vault. Why? Is exemption only applicable when I sell it?
You have to pay 20% VAT on silver in the UK which is why I don’t buy any silver from the UK because it is a rip-off. CGT tax is different than VAT tax. And Britannias are exempt from CGT tax.
Also check my latest video if you want to know where I buy my silver from without paying 20% VAT on them. https://youtu.be/SJ-bYWQ4WSE
@The Audacious Investor I’ve got a lot to learn. I’ve also bought from Switzerland, the shipping was really expensive to the UK and it took a week to get here. I’ll check out your vid
@Last & First don’t worry you learn as you go along but the video I posted should be useful to you.
My main stack is britannias for this reason. Although i casually pick up Philharmonics for the low premiums.
Britannia’s are very nice bro
Thanks for sharing your knowledge 🙏 which one to buy.
In your last video u mentioned to buy silver britannia coin from Silver to go.Is that website the best you would recommend and will save me VAT thks
It would have when the UK was in the EU. But now it won’t anymore.
dude dont stop making videos brotha