Last 2 Months Of VAT Free Purchases Of Silver Coins in Europe

Individual or professional investors who are concerned about the prospects of monetary policies are deeply worried about the investments they hold in paper based assets as well as the money they hold in the form of cash. The reason for that is more than well known, at least for those who are willing to see and understand.

Physical gold and silver investors do so in order to protect their wealth and purchasing power. One can hold precious metals bars and/or coins.

Specifically in Europe, the purchase of silver coins and bars goes with VAT. The reason is that the EU views silver as a commodity and not as money.

Even the known „legal tender“ coins such as the US Eagle, Vienna Philharmonic and Maple Leaf minted with a face value are subject to VAT in all EU countries – except Estonia, according to Stefan Krämer of CelticGold, an online dealer specialized in silver coins and gold bars/coins.

Currently, the following VAT rates apply to silver coins and bars in Europe. As tax matters in Europe are only comprehensible for specialized accountants, we focus on the standard rates (there are also reduced rates, among others):

  • Denmark 25%
  • Belgium 21%
  • Ireland 21%
  • Austria 20%
  • Italy 20%
  • United Kingdom 20%
  • France 19.6%
  • Netherlands 19%
  • Spain 18%
  • Luxembourg 15%
  • Germany 7% silver coins and 19% silver bars (coins will be charged 19% as of 1/1/2014)

Buy silver coins legally in Europe without paying VAT

Within the complexity of laws and regulations, there are always flaws. One of them was found by CelticGold who figured out a way to purchase silver coins without paying one euro of VAT. The key is to do the purchase through Estonia, a very small and almost unknown country in the East of Europe which is part of the European Union. Mind the following two cases to understand how it works.

Example 1: UK resident buys with CelticGold in Estonia. CelticGold ships the silver to the UK. VAT on silver to be charged = 20%. As the location where the seller fulfils its contract is the UK (the customers’ signature from the delivery releases the seller from its contract).

Example 2: UK resident buys with CelticGold in Estonia. The UK resident instructs a courier service to pick up the silver from the bullion vault. The location where the seller fulfils its contract is Estonia as the goods are handed over to the courier company in Estonia. VAT on silver to be charged = 0%

The ownership in example 1 is transferred in the UK. The ownership of the goods in example 2 is transferred in Estonia.

The customer in example 2 instructs and pays the courier themselves. This is a so called non-commercial EU shipment. Non-commercial EU shipments are within all of EU exempt of import duties and VAT.

It is perfectly legal and safe to buy in Estonia VAT free and then have the coins shipped to your door.

„The savings for the investors are huge!“, says Stefan Kraemer, CEO and Founder of CelticGold. He continues to say that on average the saving ranges between 3 and 4 Euros per coin, depending in which country the investor is resident.

With a sample purchase of 500 coins, fully insured Express shipping is 0.26 Euro per 1oz coin, the saving is a whopping 1,850 Euro compared to a local purchase.

VAT free silver coin purchases in Europe will be history as of 01.01.2014

The Parliament in Estonia amended a new law which will come into force on 1.1.2014. With pressure of the EU headquarters an amendment was presented on October 15th 2013 to the Estonian parliament to change the laws for legal tender silver coins.

Currently the law exempts the importation of all banknotes and coins. From 2014 the exemption will be restricted to banknotes and coins which have the exchange rate of the European Central Bank.

CelticGold has formulated a letter to clarify the affects for the Estonian branch because there may be an exemption for Vienna Philharmonic silver coins as they are denominated in Euros and considered money.

Should you be interested in buying silver then please consider to buy before 31st December 2013 as CelticGold can’t guaranty to sell silver VAT free from January 2014 on.

This maybe the very last chance to actually buy and own physical silver at these prices without VAT.

Learn more about VAT Free Silver from CelticGold at

Contact Stefan from CelticGold:

Recommended reading: Learn more about Silver Fundamentals

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