What is the cheapest way to buy silver?

If you have decided to invest in Silver - read more on why buying silver is a good idea - then one of the next questions you’re likely to ask yourself is what is the cheapest way to buy silver?

Buying cheap silver means making the most money when you come to sell it, and that is the most important thing to any investor in the long run. But: should you buy silver bars or coins? New or second hand? Below we discuss some of the cheapest ways to buy silver online with BullionByPost.

Cheapest silver bullion

Silver bars offer one of the cheapest ways to buy silver bullion in the UK, particularly for large amounts. With lower production costs compared to coins, the same weight of silver in a bar will typically be lower than that of a coin - particularly with weights of 100 grams or higher. Buying a larger bar, despite having a higher price, is still cheaper in the long run thanks to the economy of scale.

100 Gram Silver Bar Best Value

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from £120.72

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5 Kilogram Silver Best Value Bullion Bar

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from £4,138.80

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Metalor 1 Kilo Silver Bullion Bar

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from £873.48

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For investors who prefer a coin however there are still some good options available. Given the lower price of silver (compared to gold), one troy ounce is the typical size of a silver coin. A lot of the world’s most popular gold bullion coins, such as the Krugerrand, Canadian Maple and American Eagle, all have one ounce silver variations that are good value.

There are some smaller options available for investors looking for even lower entry prices. The Perth Mint’s Lunar series are made to a number of sizes including a coin containing half an ounce of silver. For an even cheaper coin however, investors might be interested in the 1/4 Ounce Armenian Noah’s Ark coin. Produced in Germany, these coins are released annually and, similarly to the 2.5 gram bar, can be bought for under £15 at the current price of silver.

Silver Britannia

For UK customers looking for the cheapest silver coin we recommend The Royal Mint's Silver Britannia. At one ounce of 999 silver, these exquisite coins are globally recognised and offer great prices for the amount of silver bought.

One of the reasons the Britannia is so highly recommended is its status as legal tender in the UK, with a face value of £2. Thanks to this classification the Silver Britannia is exempt from Capital Gains Tax (CGT). This means that when you come to sell the coin, any and all of the profits made will be tax-free. Mass produced here in the UK they are the cheapest silver bullion coin per gram we have available, and will often be cheaper even than bars of a similar size.

Even better, thanks to storage facilities in the Switzerland, BullionByPost can offer the Britannia VAT-free. As long as you don’t take delivery of your silver Britannia coin(s) they will legally be exempt from VAT. With VAT in the UK currently set at 20%, this saving is significant and can make a huge difference to an investment portfolio. This makes the Britannia one of the cheapest silver coins in the UK on a weight basis.

1oz Silver Britannia Best Value Coin

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from £33.24

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2023 King Charles III Britannia One Ounce Silver Coin

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from £33.96

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VAT FREE for Storage - 1oz Silver Britannia Coin

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from £27.70

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VAT-free silver bars

Silver bars do not enjoy the same CGT exemption as the Britannia but, as with the coin, there is the option to store silver bars in Switzerland and avoid paying VAT on your purchase.

Although limited to the one kilo bar, this option is nevertheless a great saving method and the cheapest way to purchase 1,000g of silver for UK customers.

Aside from pre-owned collectable coins listed on our website, we also offer a limited supply of second-hand silver bullion available for UK storage or delivery at much lower prices, purchased through the VAT-margin scheme. Our second hand silver options is one of the cheapest ways to buy silver and take delivery in the UK, making it an extremely popular offering among our customers.

Please note: Our second-hand silver supply is very limited and sold on a first come, first serve basis. If you are interested please call us on 0121 634 8060, or email us at support@bullionbypost.co.uk. If we do not have the items you are looking for we can keep your name and contact details on file in the event we do acquire them.