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Buying Silver in Europe?

ZubieZubie Posts: 1,160 ✭✭✭✭
in Precious Metals
I'm flying through Europe at least once a month now (currently in Basel SW) and was wondering if it was worth trying to buy silver bars at the local banks (Credit Suisse or other)??? If so, anyone know of a good place to buy in Basel?
Would something like PAMP bars be more or less expensive even if I can even find them?
Cheers, Tim
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Comments

  • VikingDudeVikingDude Posts: 1,342 ✭✭✭
    Any rules for flying internationally with them?
  • jmski52jmski52 Posts: 22,820 ✭✭✭✭✭
    It will be good if you can verify that there is a 15% tax on silver purchases. I'm not sure if that includes a VAT, or if that's in addition to one. Be sure to give us the lowdown when you do it.
    Q: Are You Printing Money? Bernanke: Not Literally

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  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    comrade t, how much silver you planning on stuffing in your flight bag?
    image
  • nibannynibanny Posts: 2,761 ✭


    << <i>comrade t, how much silver you planning on stuffing in your flight bag?
    image >>



    Zubie flies a cargo, he shouldn't have problems at the check-in counter for the extra baggage! image


    Joking aside, Tim, I wish I could give you some insight but I have little or no experience in the silver market in Europe.
    For what I saw, in Italy, silver is overpriced due to taxes (I thinks 15% as mentioned by Jerry) and there is not much demand as in the US.
    We usually "stack" in houses and cash (preferably under the mattress image).

    I have inquired some friends in Switzerland. They said banks should have silver bars but were not able to confirm.

    Please report back when you get the chance, I am interested in your feedback.

    MM

    PS: My parent company in Switzerland is very close to the Pamp factory. i have asked my colleagues to go check and see if they have a store open to the public!
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • derrybderryb Posts: 36,790 ✭✭✭✭✭
    currency exchange rates will be the key to bargains.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    You may want to call or email some of the bigger local coin dealers, they may either carry or know where to get it. I know in Poland, the leading dealer in Warsaw (WCN) buys and sells bullion too.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • 1jester1jester Posts: 8,637 ✭✭✭
    Lots of places to buy in Poland and I imagine the same would be true in Basel. VAT is applied to silver in Europe and the rate varies by country (up to 23% or more). However, don't let that deter you! LOL. You, as a tourist, would be able to get your VAT back at the airport if you have bought from a dealer who issues an invoice. As far as I know, you can enter the US with lots of silver...no problems with that so far, I've heard from some of my people. But why not buy in the US? If it's bullion you're after, the US is the absolute best place for deals. PAMP bars are hella-expensive in Europe.

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  • nibannynibanny Posts: 2,761 ✭


    << <i> But why not buy in the US? If it's bullion you're after, the US is the absolute best place for deals. PAMP bars are hella-expensive in Europe.

    imageimageimage >>



    Shhh Mike, we can use some tourists' money in Europe...image

    You stand correct, though I found some Pamp and Credit Suisse at a B&M in Florence for cheap money since people don't really go after silver bars like we do here in the US.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    The benefit of buying in Europe is you can pick up some unusual bars which you won't easily find in the US... various gram-sized bars and also more artistic bars. For example, PAMP made bars with Polish cities on them - an example is here.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>The benefit of buying in Europe is you can pick up some unusual bars which you won't easily find in the US... various gram-sized bars and also more artistic bars. For example, PAMP made bars with Polish cities on them - an example is here. >>



    Or this one :image

    image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • nibannynibanny Posts: 2,761 ✭
    Or this one of Florence! (they made also Italian cities)

    ...together with one minted in Arezzo, not Pamp.

    image
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Pretty cool. I wonder if collectors in the US would pay a premium for those bars.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>Pretty cool. I wonder if collectors in the US would pay a premium for those bars. >>



    I didimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • FountainheadFountainhead Posts: 956
    I thought the advantage of Europe was buying $20 gold that hasn't seen the light of day in 70+ years.
    Salute the automobile: The greatest anti-pollution device in human history!
    (Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>I thought the advantage of Europe was buying $20 gold that hasn't seen the light of day in 70+ years. >>



    Those have been well picked over for the last few decades. The banks that hold these coins know what are rare dates and know how grade affects their value so don't count on finding any bargains there.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
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