Cheapest way to buy gold and silver in the UK

Cheapest way to buy gold and silver bullion.

Investing in gold and silver is a great way to diversify your portfolio, so what is the cheapest way to buy gold and silver in the UK?

The least expensive initial purchase will help maximise profits when you sell, so what’s the cheapest form of bullion that works for beginners? 

Gold and silver bullion coins and bars are one of the cheapest way to invest in gold and silver bullion in the UK, but where is the best place to buy? 

The answer can vary depending on your personal preference and budget. 

Online Bullion Dealer. 

BullionVault offer a reasonable spread of high quality gold and silver bullion products including British Sovereigns, Britannias, Krugerrands etc, as well as bullion bars in an assortment of weights. 

One of the cheapest ways to buy gold in grams and ounces (or any other type) would be at wholesale prices, this means you’ll get more value out of it when selling on later. 

BullionVault offers an extensive range of gold bars that are LBMA approved for wholesale distribution. 

The higher up front costs are usually offset by buying large bars which weigh 400 Troy ounce each. 

However, at BullionVault you can purchase 1 gram quantities within these perfectly crafted pieces, which means they’re perfect if you want a small amount or just need some extra insurance on your portfolio. 

With BullionVault you pay prices that are closer to wholesale market values without any VAT or Sales Tax, as well as no delivery costs because your gold and silver bullion is stored in professional vaults and you choose where to store your gold and silver. 

Using professional vaults means lowest cost possible!

BullionVault offer very competitive rates for storage and insurance of your precious metals. 

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World’s largest online investment gold service.

BullionVault is the world’s largest online investment gold service, taking care of $3.8 billion for more than 95,000 users! It provides bars stored in professional-market vaults across Zurich and London. 

You can sell anytime without penalty or receive a wire transfer immediately after selling, it’s that simple to get your funds out quickly while still protecting yourself from market volatility. 

BullionVault provides security for your investment, safety of funds and insurance against theft or damage. 

You can save at least 7% on the cost of coins or small bars by purchasing ‘Good Delivery’ gold from a professional market. 

Because ‘Good Delivery’ gold is the only gold that can be easily sold on the world’s professional marketplaces, where selling prices are greatest, you’ll obtain the best price when you sell.

By trading on the wholesale market you’ll only pay a commission to BullionVault for running the service, and it’s one of the lowest fees available. 

However, unlike professional markets, there is no minimum deal size on BullionVault, so you don’t have to spend $500,000 to receive the best price. 

You’re also not limited to transacting with US dollars. You can also purchase and sell directly in Euros, British Pounds, and Japanese Yen, saving you another 3% in currency conversion fees if you’re European, British, or Japanese. 

BullionVault has the lowest commission fee in the industry, at just 0.5 percent. 

If you spend more than $75,000 (or the equivalent in another currency), then the commission drops even further. 

This online dealer option does involve storage, insurance, dealing with companies like BullionVault etc which all costs money, so make sure you consider these costs when making a decision to invest in gold and silver online. 

Overall, BullionVault is a great platform that enables private investors to buy gold in large, professional-market bars. 

The lower costs associated with trading on the wholesale market are enjoyed by UK customers when they buy and trade through this service. This could be one of the cheapest ways to buy gold and silver in the UK.

Physical gold and silver coins and bars. 

Investors who want to buy gold and silver without paying too much, can find great deals on pre-owned coins and bars which typically offer lower premiums than invest in new ones. 

Gold and Silver Bullion Coins. 

Coins are an investment that offer many opportunities. 

If you want to buy gold, there’s the UK’s best-selling coin, the Royal Mint’s Gold Sovereign (VAT free and CGT exempt). Or how about investing in smaller coins such as 10th ounce Britannias? 

If you have a smaller budget, the one ounce gold or silver Britannia is likely going to be more cost effective than other coins. 

However, as economies of scale apply in manufacturing costs, it becomes better when larger amounts purchased. 

If your investment plan can accommodate bigger investments then this could make them even cheaper!

These particular British coin investments can offer you the advantage of being capital gains tax free when it comes to the time to sell. 

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Gold and Silver Bullion Bars. 

Gold bullion bars come in a range of different shapes and sizes, perfect for any investment need. 

24 carat gold is VAT-free when buying from within the UK, making it easier on your bank account too. 

Silver bars offer a simple and affordable way to buy silver bullion in the UK but are subject to VAT. 

Starting as small as one troy ounce, you can get your first purchase of silver, for example, at a very reasonable price, making it perfect for any investor who wants their money put into something tangible without breaking the bank. 

A larger bar will always end up being cheaper than its smaller counterpart, thanks not only do economies scale but also because there are fewer pieces involved when manufacturing them, which means lower production costs overall. 

Smaller investments can be stored more easily than larger ones but their premiums will also increase with price so choose wisely. 

ETFs (exchange traded funds).

If you want to invest in gold and silver, but don’t have the time or desire for direct ownership and just need an easy way of securely storing your wealth, then trackers could be an option for you. 

They trade much like shares do, with brokers fees incurred when trading them on markets themselves. 

Gold ETFs allow you to invest in gold without actually owning the metal. 

They’re cheap and easy, but they don’t give investors full control over their investments, you only own shares of a company that owns the physical gold or silver; so there’s no guarantee what happens when things get tough so be very cautious when deciding to go down this route. 

Buy physical gold and physical silver. 

We would always recommend having physical/allocated gold and silver bullion. 

It’s important when buying physical bullion in the UK to do your research before choosing a dealer, just as you would if you were buying something online. 

Check their reputation, how easy it is to buy from them and whether they offer storage facilities or not. 

You should also consider the premiums they charge.

The price of gold and silver is determined by several factors that can be quite volatile, such as inflation and monetary policy. 

Physical bullion retailers are required to pass on some form of premium regardless of whether it’s a high or low one, but there are still very good deals out there if you know where to look for them.

Here are some we recommend:

BullionVault

BullionVault lets private investors around the world access the professional bullion markets. You can benefit from the lowest cost for buying, selling and storing gold and silver.

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BullionStar

BullionStar makes it easy & seamless to buy & sell bullion.
– Quick & easy to open an account online.
– Hassle-free & fast to place orders.
– Full online control 24/7. Buy, sell & withdraw your bullion anytime.

10 Grams of FREE Silver on Sign up! Visit BullionStar

Main image by Zlaťáky on Pixabay.