Invest in physical silver and buy and sell at live prices on our Order Board. Buy in your choice of vault, and trade online and via our mobile apps.
Buy from 1 gram to several tonnes in the form of large 'Good Delivery' bars. Securely stored and insured, you can buy and trade physical silver at live market prices, 24/7. Unlike silver coins, owning physical silver this way is VAT free.
No VAT. Buy & sell 24/7
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Prices updated 04/12/2023 20:22:55 and include 0.5% commission.
Using BullionVault private investors can buy, store and sell physical silver at wholesale prices with narrow spreads.
Your silver is securely stored in professional LBMA-member operated vaults, meaning you pay the lowest storage & insurance costs with no VAT or delivery costs.
United Kingdom users can open an account online or via our mobile app and buy gold all in just a few minutes. You can sell at any time.
The combination of wholesale bullion market prices, low commission to buy and sell, small custody fees and zero VAT mean that owning your metal within silver bars using BullionVault is the most efficient way to buy silver.
Although silver coins and small bars are not an economic form of silver investment, some like to buy silver coins and small bars as gifts or to keep at home.
The key difference and biggest cost factor between vaulted silver and holding smaller units at home, is that coins and small bars incur VAT and shipping costs, as well as being costly to add to home insurance. Investment silver stored and insured at low-cost in an LBMA-member vault is exempt of VAT and saves silver investors 20% in the UK even before any price spreads are taken into consideration.
Our silver cost calculator will help you determine the savings from buying silver in a vault versus having silver coins delivered to you.
Exchange-traded trust funds (silver ETFs) track the silver price using complex derivatives, and may not even be backed by bullion. Dealing is restricted to stock-market hours. The annual fee for silver ETFs is about 0.50%, deducted from the quantity of silver backing the shares each day. That charge may not include insurance.
Other trust-fund products called "closed-end funds" track the price of silver less closely. Because they only change the quantity of silver backing their shares irregularly, the share price can vary sharply from the silver underlying it, known as the Net Asset Value.
Needless to say if you invest in Silver ETFs or ETPs you do not own any physical silver.
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The best buying and selling prices in the world are available where the liquidity is deepest - on the international physical bullion market. Centred in London, this is where central banks, bullion banks, investing institutions, silver miners and refiners trade what are called "good delivery" bars.
These silver bars are a standard size: 1,000 troy ounces (31.1kg). They are made by accredited refiners and kept in accredited vaults. Their movement, by accredited couriers, is carefully documented.
Because these bars' entire life is auditable, and because they have never been in private hands, a professional buyer accepts them as "good delivery" by the seller. So the seller achieves the international spot market price and gets paid quickly and efficiently. No fake bars have been detected in the good delivery system in living memory. If they were, the bad bars would be replaced for free without question or hesitation.
Coins are not good delivery. They cannot be sold on professional markets because their life history is not auditable and without specialist knowledge and tools it is surprisingly difficult to ever be 100% sure that a coin is pure silver. Though uncommon, fakes certainly exist. Without that auditability buyers will often need to re-refine, and the expense eats into the price you will get when selling.
Although few customers think to ask, when they transact silver coins with a dealer there should be two prices; both a higher buying price and a lower selling price. The trader makes money by buying from a selling customer at the lower price and selling to a buying customer at the higher price.
In professional markets, the customer will always ask for both prices at the same time – before the dealer knows if they are buying or selling. This forces the dealer to keep the two prices competitive (i.e. close to each other) if they are to win any business.
But in retail markets this dynamic disappears, and the difference between the buying and selling price, known as the ‘spread’ becomes large, while very often remaining hidden.
'Commission free' is not helpful if the hidden spread costs many times what an openly declared commission would cost. A wide spread is the key component of lost value for the retail customer who buys and sells silver coins.
An exchange marketplace lets large numbers of buyers and sellers compete to offer each other the best possible price. Because there are many potential buyers, only the buyers who offer high prices will attract you when you want to sell, and because there are many sellers, only the sellers who offer low prices will attract you when you want to buy. This competition naturally keeps the prices fair and the spreads low.
Usually a coin shop or website will offer you just one counterparty – themselves. Lacking open-exchange competition allows them to buy from you at low prices and sell to you at high prices. Both buyers and sellers are usually better off when they have the choice of counterparties available on an exchange. Show me BullionVault's exchange.