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  #1  
Old 10-26-2010, 05:56 AM
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Nevermore Nevermore is offline
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Default 650€ for 1kg silver bars

Hi guys,

I found a guy (private individual) selling 1kg silver bars for 650€

Good deal or not?
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  #2  
Old 10-26-2010, 06:01 AM
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Da Furry Rodent Da Furry Rodent is offline
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Dunno, how much is silver per ounze in Euros?
How many grammes in a Troy ounze?
How many Troy ounzes are there in a kilo?

Not good at math me
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  #3  
Old 10-26-2010, 06:08 AM
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Quote:
Originally Posted by Da Furry Rodent View Post
Dunno, how much is silver per ounze in Euros?
16.84 euros per troy ounce

[quote]How many grammes in a Troy ounze?[quote]

31.10 grams per troy ounce

Quote:
How many Troy ounzes are there in a kilo?

Not good at math me
32.15 toz per kilo

Sounds a bit high at 3.35 euros per ounce premium...for a bar? But I've never had to buy silver in Europe either....no idea what "normal" means for premiums in Europa.

Won't matter much in a couple of weeks though .
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  #4  
Old 10-26-2010, 06:50 AM
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Quote:
Originally Posted by Stormdancer View Post
Won't matter much in a couple of weeks though .
How do you mean?
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  #5  
Old 10-26-2010, 06:50 AM
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last time i bought a kilo bar was 570€
bought it at the fortis bank
i'm not sure what prices are now.. but i think cheaper then 650€

just do a phone talk with your bank

Last edited by bambipower : 10-26-2010 at 06:53 AM.
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  #6  
Old 10-26-2010, 07:03 AM
old european silver old european silver is offline
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Quote:
Originally Posted by Nevermore View Post
Good deal or not?
If you want a bar, then it is a good deal for Europe ... if all you want is 1 kg of silver - take a look around (some coinshops have old silver currencies with 600 euro/kg or you could buy 1 kg kooks for 640 in germany)

I live in Europe, and the only bar I have is a 250 gramm one - the VAT is to heavy on them for my liking

but it is your money ...
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Old 10-26-2010, 07:27 AM
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Prob is that I live in Belgium (21% VAT on silver), so buying from Fortis or a dealer isn't really an option.


not looking at VAT
1kg for 650€
1kg = 32,15074657 ounce
dollar spot 23,43 $/oz
euro spot 16,808682 €/oz
1kg spot 540,4116751 €
premium= 109,5883249 €
premium/oz 3,40857792 €

In case of German VAT, where he most likely got them (7%):
euro spot +VAT 7% incl 579,06158€
premium 70,93841741 €
premium/oz 2,2063142 €/oz

I was thinking on buying about 5-10kg.
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Last edited by Nevermore : 10-26-2010 at 07:29 AM.
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  #8  
Old 10-26-2010, 07:34 AM
Airgead Airgead is offline
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There are also 5 kG cook coins. VAT is 6% in the Netherlands because it has a legal value as "coin". That is excactly why they are created.
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  #9  
Old 10-26-2010, 09:23 AM
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650 is a good price IMO. Are they on the LBMA list? If not I wouldn't buy them. I know that silver is silver but it's easier to sell them anywhere in the world if they are on this list.

I have a couple of kilo bars but I only buy coins anymore. Difference in tax is huge. But I'm still glad I have bars because they look beautifull too.
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  #10  
Old 10-26-2010, 09:41 AM
old european silver old european silver is offline
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Default Vat

In Germany you have 19 % VAT on bars, the 7 % VAT is only available for coins which have a face value.

I am from Austria, and here we also have 20 % VAT on any kind of silver.

It is - for bars - a very good price! You are going to pay EUR 20,22 per ounce.
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