Where to Buy Silver in the UK

With the economy looking shaky these days, many people are turning to silver as a safe haven for their money. But where to buy silver coins and bars? In our experience, your best bets are sticking with well-known online dealers like Physical Gold or turning to established sources like the Royal Mint.

We’ve been in the precious metals game for some time now, so we’ve gotten a feel for what separates the prime places to procure silver from the shady operators out there. Let us share some hard-won wisdom to help you avoid mistakes and find a trustworthy seller to ensure you buy the best silver at the best prices.

1. Royal Mint

With over 1,000 years under its belt, the Royal Mint is a true veteran when it comes to churning out coins and precious metals. For silver seekers, this British institution is probably best known for minting the iconic Silver Britannia bullion coin. Each contains a full troy ounce of .999 pure silver, making the Britannia a darling for anyone looking to diversify their portfolio with a liquid investment exempt from Capital Gains Tax.

On top of their flagship silver coin, the Royal Mint also produces a limited variety of silver bars ranging from modest 1oz wafers, the most popular to 1-kilogram variety, right up to the huge 100oz size. You can bet their exacting standards ensure top-notch quality and security. Those rippled surfaces on their bars make counterfeits a no-go.

Online shoppers can score Royal Mint silver directly from the source, with free insured shipping on purchases that hit the minimum. Now, their products do come with higher premiums compared to some dealers. But for many investors, that extra cost buys peace of mind, knowing you’re getting the real McCoy, crafted to last.

As an official partner of the Royal Mint, some Post Office branches let you buy Royal Mint silver coins and bars right at the counter. For investors who value grabbing their silver easily without leaving town, the Post Office isn’t a bad choice.

But we have to give you a heads up – their Royal Mint selection usually comes with higher premiums than buying directly from the source. The Post Office tends to stock collectable commemorative issues rather than generic silver rounds and bars with lower premiums.

So, if you’re looking to make a bulk investment in silver with maximum savings, you may want to shop elsewhere. But if you appreciate the convenience of buying reputable Royal Mint silver at your neighbourhood post, a slightly higher premium could be worth it.

The Post Office won’t give you the cheapest silver around, but they do offer respectable options with the assurances of an iconic British institution. For some folks, that peace of mind balances out the additional cost.

Physical Gold has always been a reliable and trusted dealer of precious metals in the UK.

Buying your silver online from us is very simple, with discounts applied for bulk purchases. All you need to do is create an online account and select the silver you wish to buy. We offer a wide range of both silver coins and bars. Primarily we focus on obtaining silver coins for our customers at the lowest prices which are ideal for investment. Many of these are Royal Mint silver coins but at discounts to the prices if you bought directly from them. Likewise we only sell silver bars which offer the very best investment potential, rather than a collectible premium.

Buy silver from the site, and every product is guaranteed to be 100% genuine. There is a 3D authentication system in place to ensure that your financial information is not at risk when you complete your transaction. We always provide certification for bars and relevant papers to each and every customer. Moreover, we ensure that orders are sent to your registered address by an insured courier, or sent to our secure storage facility if you’d prefer us to safeguard your silver.

A quick check on the company’s reputation online would surely assure you that we are a highly reputed and reliable dealer of silver and other precious metals. So, instead of taking a chance with high street retailers, you are advised to consider buying your silver from Physical Gold for a hassle-free, smooth transaction.

If you are a regular investor, we also have structured monthly plans that help you invest regularly in silver and build up a robust portfolio that will stand the test of time and deliver great returns on your investment in the years to come.

When it comes to acquiring silver bullion, investors have to pick a side – online or offline dealers. Each route has its own pros and cons.

Going through online sellers like Physical Gold gives you 24/7 access to browse and buy coins, bars, rounds and more. Top sites provide ace pricing, detailed product photos and descriptions, tax-efficient deals, insured shipping, and advice from market vets. The only downside – not inspecting goods before you click buy. Many dealers like Physical Gold will allow you to purchase the silver anytime online and then collect from their dispatch centre if preferred.

Offline dealers like brick-and-mortar shops allow you to verify your silver is legit face-to-face before parting with your cash. But that in-person experience means potential travel time and limited hours.

The bottom line? Online buys offer convenience and potential savings, while offline lets you physically vet products. You’ve got to weigh what matters most – snagging the best price or the peace of mind of seeing silver before you seal the deal.

For many investors, the ease and cost benefits of top-rated online sellers like Physical Gold outweigh the inability to fondle coins in person. But if seeing is believing for you, old-school offline dealers may be worth the trip.

Most major banks do not offer physical silver bullion, such as bars and coins, directly to retail investors and account holders. While some banks may provide certificates or accounts that track the price of silver, these do not represent ownership of the physical metal itself.

For investors seeking actual silver in hand, banks are generally not the best source. The limited silver products they do offer, such as commemorative coins, come with high premiums and substantial delivery delays compared to reputable bullion dealers.

Additionally, banks charge higher overhead costs that are passed onto the customer in their silver pricing. Without dedicated precious metals experts on staff, banks also cannot provide the same level of market guidance and education as specialised silver bullion dealers.

For the widest selection of physical silver bullion at the most competitive prices, investors are better served shopping with leading online dealers like Physical Gold. Their silver bar and coin products come with lower premiums, quicker fulfilment, and support from knowledgeable precious metals specialists.

Reliability and safety are key factors to consider when buying silver from a UK trader. Obviously, you don’t want to be scammed or compromise the security of your bank details when conducting a transaction. There are other important factors to consider, like ascertaining the authenticity of your purchase and, of course, transportation, delivery and storage.

Stay away from online marketplaces like eBay, when buying precious metals like silver or gold. Checking the purity and quality of your silver could be a huge problem, and you could easily become a victim of fraud. Another issue to consider is that the price you pay for your silver is likely to be a lot more, thanks to hidden costs like PayPal fees, delivery and insurance charges.

A reliable and trusted source of buying silver in the UK is, of course, the Royal Mint. The Royal Mint is a reputed producer of silver coins historically, for coins such as the Britannia, and you can rest assured about the quality and purity. The mint provides free delivery of your coins and silver bars on purchases above £45. An important point to note, however, is that the mint does not buy back your silver, so if you plan to resell, you’ll need to go to a reputed 3rd party dealer.

In order to identify reliable silver dealers in the UK, you can always use the BNTA register. The British Numismatic Trade Association (BNTA) ensures that all dealers registered with them adhere to a code of ethics and abide by certain industry rules and regulations set by the association. Remember, all good dealers will provide you with transparent pricing & paperwork and will always be willing to speak to you over the phone to answer all your queries and provide guidance on your purchase.

What are the main risks of investing in silver?

The most common risks are volatility in silver spot prices, security issues with storage, and challenges selling large-sized bars. Market fluctuations mean silver may lose value after purchase.

Will silver be a good investment in the coming years?

Silver is currently far cheaper versus gold than it has been historically, suggesting significant room to appreciate. Overall investment demand, industrial use, and supply factors all influence silver’s future outlook. Speaking with financial and silver experts is advised before buying.

Should I buy silver bars or coins?

Investors should consider their budget, goals, and personal preferences. Coins have higher premiums but are easier to liquidate. Large bars have lower per-ounce costs but are harder to sell. A reputable dealer can provide guidance.

Is tax charged on buying silver in the UK?

Purchases of silver coins and bars are subject to 20% VAT in the UK, regardless of price. Silver bullion is not VAT-exempt like gold bullion currently is. Capital Gains Tax may apply if sale profits exceed the annual exemption threshold of £6,000. Checking current tax laws is recommended.