For those who wish to buy silver coins in Ireland and indeed for buyers internationally, silver bars and silver coins backed and guaranteed by national mints are the most popular form of silver bullion among buyers of precious metals.
Government mints such as the Perth Mint in Australia, the Austrian Mint, The Royal Mint in the UK, The Royal Canadian Mint and the US Mint specialise in minting popular silver bullion coins.
Silver bullion coins, like gold bullion coins, are the most popular, in a one-ounce format. Coins are preferred by silver buyers who buy silver coins in small quantities, and for those who wish to take personal delivery of their silver coins.
Other people buy silver coins because they feel that silver bullion in the form of coins is easier to sell and trade than large silver bars. The one-ounce silver coins are similar to one-ounce gold coins regarding liquidity.
Most silver bullion coins are investment grade silver and with a purity of 99.99% or four nines.
Silver coins are bought, like gold coins, at a premium above the silver spot price. Silver prices are much lower than gold prices (€1200/16=€75) with silver prices at less than €16, which is only 1.3% of the value of gold. It means that the silver spot price is 1/75th of the value of the gold price.
Thus, the cost to refine and mint a silver bullion coin, as a percentage of the value of the coin, is much higher. It means that silver bullion coins can attract premiums of between 20% and 40%.
What are The Most Popular Options to Buy Silver Coins
The most popular silver coins in Ireland are Silver Philharmonics by the Austrian Mint, Silver Maples by the Royal Canadian Mint, Silver Britannias by the Royal Mint in the UK, Silver Eagles by the US Mint and the newly popular Silver Kangaroos from the Perth Mint of Western Australia. The most popular size and weight formats of these coin is 1 ounce. A box containing 500 silver coins is known as a Monster Box and is very popular with investors.
When you buy silver coins from other EU countries, they are considered collectables and are VAT free. By importing the collectable, legal tender precious metal coins from other EU member states. No VAT or sales tax is applicable in Ireland.
GoldCore offers all leading silver bullion coins VAT free and delivers throughout Ireland. Silver bullion coins are purchased by GoldCore in the EU through a VAT compliant process that exempts silver coin buyers from the VAT liability.
The process allows us to airfreight and deliver silver coins in Ireland and any other country in the EU free of VAT when you buy silver coins. GoldCore delivers VAT free silver coins in the Republic of Ireland and Northern Ireland. This is done through fully insured national postal services and international shipping services such as UPS, DPD, FedEx and Royal Mail.
Insured delivery when you buy silver coins in Ireland usually takes 4 to 10 business days. For certain products and during periods of high demand, delivery can be a maximum of 15 working days. The deliveries are fully insured, and the insured delivery costs are highly competitive.
Are the silver coins VAT and TAX free?
Silver coins that imported in to the country attract VAT. However silver coins that are stored on your behalf in a high security, specialised bonded vault in Switzerland do not attract VAT.