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Where to Buy Silver?

Fantastic, you’ve made the decision to buy silver but now where do you go? Can you buy silver at the bank? Maybe on the high street? Or perhaps the best place to buy is from a silver bullion dealer? We take a look at why silver is an attractive investment and why it’s so important to do your research before deciding where to buy silver bullion

Is silver a good investment?

Silver is a popular asset to invest in because it has properties that give it a dual purpose - it is an excellent metal for use in industries and a store of value.

Silver is much sought after in a number of industries, some examples might be technology, renewable energy and medical. It is so popular because it is highly malleable, resistant to corrosion, has good thermal and electrical conductivity as well as having antimicrobial properties. When it is used in industry it is very often used in small quantities which makes it uneconomical to recycle. This means that there is a diminishing supply of silver, against increasing demand.

Silver is also a monetary metal and has been for thousands of years. It has shown itself to be a hedge against uncertainty, a currency that retains its value and a safe haven during geopolitical crises. Many investors choose to buy physical silver bullion as it comes without third party risk, can be stored securely and it is easy to hold in small increments such as silver Britannia coins. 

Buy silver in the UK

The physical silver market in the UK is one of the best places in the world to buy silver bullion. We have a well-established industry, with a long legacy that has put a series of checks and balances in place to protect the high standards that operators, such as GoldCore, are known for. 

We hope that this means that someone trying to decide where they can buy silver bullion would find the same quality of product and service no matter where they looked. However this is not the case and so investors must do their due diligence. 

Where can I buy silver coins in the UK 

  • Royal Mint :The Royal Mint produces all of the legal tender in the UK and has been around for hundreds of years. Its service and online platform is highly respected but the product offering is limited to its own coins. This means that if you were looking to buy US Silver Eagles or Austrian Philharmonic coins then you would not be able to. You will also find that the premiums tend to be quite high, which can eat into your returns. In contrast to GoldCore, the Royal Mint does not buy back gold coins
  • High street dealers: For many years the high street was the best place to find specialist silver coin dealers. Now, many silver bullion dealers have an online presence combined with a personalised, secure service. This means that bricks and mortar shops are unable to compete with the low premiums and product variety that silver bullion dealers such as GoldCore can offer. One advantage to being direct from a shop is that you can physically observe the product before purchase, and take it away with you that day. However should you wish to store the silver outside of your home then a high street shop will not be able to accommodate this to the standards required. 
  • Online marketplace - Online marketplaces are possibly the hardest places to buy silver coins in terms of verifying that you are doing so safely and efficiently. We would not recommend buying this way as it is near impossible to check that you are buying investment-grade silver. You must also check for any hidden costs as well as comparing the premiums charged.  
  • Post Office - The Post Office acts as a merchant for Royal Mint coins. This means that there is an additional layer between you and The Mint which can add to the already high premiums charged. Also beware that many of the silver products sold at The Post Office are packaged for those looking to give silver bullion as a gift, rather than as a form of investment. This gives the seller license to add more onto the price. 
  • Silver bullion dealers - Dedicated silver bullion dealers are the best way to buy silver coins. The product choice is wider than other sellers, premiums are generally lower and the quality of the product is easily verified. GoldCore, a trusted silver bullion dealer with over 14,400 customers, offers investors a broad range of coins, low premiums, a world-class platform and state-of-the-art secure storage facilities. 

Where can I buy silver bullion bars in the UK?

  • Royal Mint - The Royal Mint does sell a limited selection of gold bars. Unlike GoldCore, the bars are not from a variety of refineries. Instead only ones that are minted by the Royal Mint are sold by them and they do not offer a buy-back service, as GoldCore does. 
  • The Post Office - The Post Office sells bars on behalf of the Royal Mint. Like silver coins, we believe the Post Office is an expensive and limiting choice if you are choosing to buy silver bars for investment purposes. 
  • Online marketplace - If you google ‘buy silver bars’ many of the ads that first appear in the results are for well established marketplaces advertising silver bars for sale via private sellers. We believe that silver investment is too important to your portfolio to execute a purchase, in this way. If you wish to buy online because of the convenience then we recommend you look into silver bullion dealers, such as GoldCore, as we offer low premiums, certified products and have over 14,400 customers who have put their trust in us. 
  • High street dealers  - traditional silver shops naturally have higher margins by virtue of their physical presence. This can make for an expensive investment and eat into your margins. Some people like buying from high street dealers as it means that they can touch and see the bars before taking them home, on the same day.
  • Silver bullion dealers - GoldCore is proud of its 20 year history and its excellent service record as a dedicated silver bullion dealer. When looking online for a silver bullion dealer be sure to check the online reviews, compare premiums charged and pay close attention to the additional services offered. For example, our buy-back scheme and secure storage in a range of safe jurisdictions around the world. 

Can you buy silver at the bank?

Most banks do not offer physical silver investment products to retail customers. The few that do are likely to charge high premiums and you must check that the silver is allocated and can be delivered to you if you wish to do so. 

Banks are involved in silver derivative products but these do not bring the same level of financial protection to your portfolio and they do not allow you to directly own physical silver. You can read more about these products here (???LINK TO How to Invest in Gold: 7 Ways to Buy & Sell Gold WHEN LIVE???)

Should I buy silver coins or bars?

1 oz 99.99% pure silver bullion coins minted by top sovereign mints such as The Perth Mint, US Mint, and Royal Canadian Mint and The Royal Mint are the most popular amongst silver investors. GoldCore is pleased to offer the following coins from the aforementioned mints:

You can read more about investing in silver coins by clicking here.

Silver bars are produced in a variety of sizes from small bars up to 1000-ounce silver bars.  The large silver bars are the most popular as they are the best value for investors and more liquid than smaller bars. Smaller investors tend to favour 1oz silver coins rather than small silver bars.

Unlike investment gold, VAT is payable on all silver coins and  is due on any silver bars that are stored in private, at-home vaults. Silver that is stored in GoldCore’s Swiss vaults is not subject to VAT.

How to buy silver?

At GoldCore we are proud to have helped over 14,400 clients to buy silver bullion. Our positive customer reviews are thanks to the support we are able to offer our clients, whether through our state-of-the-art secure online trading platform, or by speaking with our team of experts. 

We welcome new customers and are happy to provide support to get you started. Click here to schedule your free strategy call with our team or call our office on: Ireland +(01) 653 3426, UK +44203 0869200, US +1 888 381 8130. We are ready to answer any questions you may have, or to help you in any way we can. We look forward to hearing from you.