SILVER

[aardvark]

its doing well, recently bought another 140 oz's, but i kind of wish it would stay lower so i can buy more!

[falling fool]

I just bough £1k of silver coins yesterday from coininvestdirect.

 

 

Hi all, first post here........thanks for all the info.........it's been a gold mine. sorry. But really do mean it.

 

Anyway got a newsletter from coininvest today informing me that they can't send silver to the UK using 7% VAT (the German rate) used up their quota or something, so now have to charge 17.5% VAT. If you have or can use a European address for delivery you can still get the German rate.

 

Does anyone know of any reputable dealers where you can buy silver at a lower rate than the UK but get it delivered to a UK address?

 

Thanks

 

fool

[bjm81]

Hi all, first post here........thanks for all the info.........it's been a gold mine. sorry. But really do mean it.

 

Anyway got a newsletter from coininvest today informing me that they can't send silver to the UK using 7% VAT (the German rate) used up their quota or something, so now have to charge 17.5% VAT. If you have or can use a European address for delivery you can still get the German rate.

 

Does anyone know of any reputable dealers where you can buy silver at a lower rate than the UK but get it delivered to a UK address?

 

Thanks

 

fool

My invoice yesterday still quoted 7% VAT. Made it just in time! Hope the the tax man doesnt frequent GEI!

[falling fool]

My invoice yesterday still quoted 7% VAT. Made it just in time! Hope the the tax man doesnt frequent GEI!

 

Oh....it was your order that used up the limit

 

I think it's all above board, below is part of the newsletter, they refer to some EC article

 

As of July 1st 2008 we will no longer sell silver coins with 7% German VAT. As of then we will apply the UK customary 17.5% VAT. This change is necessary as per Article 34 of the EC directive 2006/112/EC by which mail order businesses are only allowed to ship up to a certain value per year of VAT liable goods to other EC countries.

[bazmercer]

Does anyone have any alternatives? I'd rather not pay 17.5% VAT if at all possible...

 

Cheers

[ziknik]

Does anyone have any alternatives? I'd rather not pay 17.5% VAT if at all possible...

 

Cheers

 

Have a look at Goldmoney

[bazmercer]

cheers, I was thinking of physical though. Must be somewhere else in the EU that supplies coins?

 

I do have an account on GM, am currently trying to recoverr my password. I like their security questions:

them: "when was the last time you logged into your goldmoney account?"

me : "Ages ago, otherwise I'd know my password"

 

Let's see how that goes

[notanewmember]

Channel Islands..... VAT exempt.

 

But you'll find the premium huge over spot.

 

And if you buy over a certain amount, I think over £150, last time I went, you have to declare it at customs.

 

 

You are better off smuggling diamonds

[kernull]

what the heck hapened here, can somebody tell me? they took my silver at 17.79, had a stop at that price

[headmelter]

what the heck hapened here, can somebody tell me? they took my silver at 17.79, had a stop at that price

 

 

[headmelter]

My invoice yesterday still quoted 7% VAT. Made it just in time! Hope the the tax man doesnt frequent GEI!

 

 

 

So did mine.

 

I haven't received mail indicating the VAT has increased..............yet.

[sylvester]

what the heck hapened here, can somebody tell me? they took my silver at 17.79, had a stop at that price

 

THEY knew... The PPT has gone personal, now they are taking out investors one by one...

[frizzers]

Ker, it's because most spreadbetting companies are boiler rooms, bucket shops whatever you want to call it.

 

They do not hedge your bet in the market, but take your bet on themselves relying on the fact that mot s-b-ers lose money.

 

There is a thread on this on IG somewhere.

[Bobsta]

what the heck hapened here, can somebody tell me? they took my silver at 17.79, had a stop at that price

That's a clear glitch in their system. The market didn't do that.

 

I think you have every right to take this up with them and demand your positions are re-instated. Although as Cuthbert C has found at his cost, sometimes this is a losing battle.

[woody]

That's a clear glitch in their system. The market didn't do that.

 

I think you have every right to take this up with them and demand your positions are re-instated. Although as Cuthbert C has found at his cost, sometimes this is a losing battle.

 

I've had this before with IG. They claim the silver and gold prices quoted are not the market spot but those of a feed. They don't say what feed and I've seen it deviate from the spot on many occasions usually just enough to whip me out of a guaranteed stop.

[TinBrick]

I've had this before with IG. They claim the silver and gold prices quoted are not the market spot but those of a feed. They don't say what feed and I've seen it deviate from the spot on many occasions usually just enough to whip me out of a guaranteed stop.

 

 

Ker, who did you experience this problem with? Here's a graph of IG's spot silver price over roughly the same timeframe as yours, and the low point on it is $17.87 just before 4pm.

[signofthetimes]

So did mine.

 

I haven't received mail indicating the VAT has increased..............yet.

 

what next, VAT on physical gold ?

[cgnao]

Haven't you all figured it out yet?

 

Only suckers spread bet.

[Bobsta]

Ker, who did you experience this problem with? Here's a graph of IG's spot silver price over roughly the same timeframe as yours, and the low point on it is $17.87 just before 4pm.

 

I suspect he's in a different time zone as it's pretty much flatlining $18.11 .... if Ker was in the US that would tie up.

[TinBrick]

I suspect he's in a different time zone as it's pretty much flatlining $18.11 .... if Ker was in the US that would tie up.

 

Now that you mention it, I think you're right - Ker did say in another post that he's in Mexico.

[kernull]

Ker, it's because most spreadbetting companies are boiler rooms, bucket shops whatever you want to call it.

 

I dont beleive this. Who would be interested in to take off my tiny silver position ? The spread betting company? Please! They have no time to do individual small-user persecution. Specially at the time when gold broke out the 933 level? This must be the manipulation that Jim Puplava was saying about. I don't know where they feed data from, but I am sure this is not my trading platform, it is CBOT, NYMEX or I don't know where they feed data from.

 

I am in again on the pull back & no more stops on precious metals

[Gatesy]

I dont beleive this. Who would be interested in to take off my tiny silver position ? The spread betting company? Please! They have no time to do individual small-user persecution. Specially at the time when gold broke out the 933 level? This must be the manipulation that Jim Puplava was saying about. I don't know where they feed data from, but I am sure this is not my trading platform, it is CBOT, NYMEX or I don't know where they feed data from.

 

I am in again on the pull back & no more stops on precious metals

Looked like a bang out of order move to me, but almost guranteed to be your synthetic market maker (spreadbetter) stitching you up. Don't uderestimate their ability /desire to target the small palyers. In fact small palyers are probably just the type they rely on stitichin up as bread and butter for their bottom line. I have read and discussed the pitfalls of SB co's, particularly IG on GEI, but am still a sucker for it (cheers CG). I do use guaranteed stops and in my experence I haven't seen glithces like this in IG's gold and silver market, but I have seen them on charts for other stocks etc on IG. I think IG would have a fairly large rebellion if they tried this in silver or gold personally.

[Bobsta]

Looked like a bang out of order move to me, but almost guranteed to be your synthetic market maker (spreadbetter) stitching you up. Don't uderestimate their ability /desire to target the small palyers. In fact small palyers are probably just the type they rely on stitichin up as bread and butter for their bottom line.

Exactly. They're not just stitching you either... That feed would've dropped for everyone, triggering a load of stops.

It *could've* been caused by someone placing a huge sell order that temporarily dropped the price (remember, you're trading on *their* market not the underlying market) but it's most likely to be caused by a technical glitch or deliberate move.

 

I've read somewhere (maybe on here) the feature list from a spreadbetting software supplier for one of their application suites. It includes functions to "inject volatility" to shake out players. I kid you not!

 

 

[kernull]

Looked like a bang out of order move to me, but almost guranteed to be your synthetic market maker (spreadbetter) stitching you up. Don't uderestimate their ability /desire to target the small palyers. In fact small palyers are probably just the type they rely on stitichin up as bread and butter for their bottom line. I have read and discussed the pitfalls of SB co's, particularly IG on GEI, but am still a sucker for it (cheers CG). I do use guaranteed stops and in my experence I haven't seen glithces like this in IG's gold and silver market, but I have seen them on charts for other stocks etc on IG. I think IG would have a fairly large rebellion if they tried this in silver or gold personally.

 

I was thinking a bit more, and now I remember a drop in crude oil of -4 bucks in one tick, down from 138 to 132 , also 2 moves in oil from 111.50 to 110.50 and then up from 110.30 to 111.80 , all of them in one tick, I thought that were big players, but now I have my doubts. Could you tell me what is the URL of IG ?

 

[Bobsta]

I have my doubts. Could you tell me what is the URL of IG ?

igindex.co.uk

 

And I've checked the overnight spot silver charts and the price didn't drop below $18.05 until nearly 8am BST this morning when it hit $18.043.

 

I'd have a word with your current provider. They *may* compensate you. I saw issues once with the feed from Cantor Index which they fixed. The price of a currency pair went to something like 100x what it should be ... but they fixed it.