You can trade and own physical silver at BullionVault as well as gold. There is no need to open a separate BullionVault account. (SIPP and IRA pension savers please read here.)
The silver you buy is already allocated and stored securely in professional vaults in London. On purchase it belongs to you outright, and no company's financial failure could deprive you of it. The cost of silver at BullionVault is very much lower than other routes to physical trading and ownership.
Silver in the London bullion market means large bars meeting the Good Delivery specifications of the London Bullion Market Association (LBMA).
Typically weighing around 1,000 troy oz, Good Delivery silver bars are assayed to be 99.9% pure silver or better. The standard wholesale dealing amount for physical delivery is one tonne. BullionVault enables you to buy, own and sell as little as one gram of this professional-grade silver at a time.
In line with standard bullion-market practice, BullionVault accounting units of silver are expressed in gross weight, not fine. They are denominated in kilograms and grams.
The silver you buy is stored securely in the same market-approved vault BullionVault uses to store its clients' gold in London.
There is no Value Added sales tax (VAT) to pay unless you withdraw your silver from the London vault. Silver withdrawal is available in whole 1,000-oz bars only. VAT is currently charged at 20% by HM Revenue & Customs.
You can buy and sell for US Dollars, Euros and British Pounds, setting and accepting prices in free competition with other users via the live online Order Board.
The market is open 24 hours a day, 7 days a week. There is no credit or leverage. You can only buy silver that's already safe inside the vault using money that's already cleared into the segregated client bank account. Settlement is instantaneous.
Dealing commission is charged at the same low rates as gold, cutting the cost of silver trading dramatically. Monthly custody charges are a little higher, because silver is much larger than gold for the same weight and value.
BullionVault's storage fees, with insurance included, still undercut exchange-traded silver trusts on holdings above $19,200. They are one-fifth the cost of most comparable allocated silver programs, and half the cost of the next-best service.
You can review BullionVault's full tariff here.
Each and every working day BullionVault publishes on the internet the complete register of all its silver owners, with each owner listed under a public nickname known only to themselves.
This register reconciles exactly to the official bar list published with it. The bar list is produced by the vault operator, independently of BullionVault. No other custody business in the world subjects its records to this continual, daily, public scrutiny.
Larger customers wanting to deal one tonne of silver or more have the right to deal directly on the London bullion market. BullionVault will act as your agent, and you will pay BullionVault's normal commission rates, an arrangement fee according to our published tariff (currently $100), and, in addition, all market charges including any shipment costs.
Please telephone during London hours for details.
A list of bars available for you to reserve will appear once you hold enough silver in the London vault to make up one or more whole standard bullion bars. You can then select bars up to your balance, and choose to have them registered against your name. The silver then becomes "reserved" against your name, and is your exclusive property.
Please see our tariff for reserved silver bar fees.
Silver is not a permitted investment for UK self-invested pensions (SIPPs). BullionVault users holding investment gold through a SIPP must use a separate account to buy and own silver bullion.
BullionVault silver – which consists only of 1,000-oz bars of 999 fineness or better – is permitted by US tax law for Individual Retirement Accounts (IRA). If you already hold and trade gold at BullionVault through your IRA, there is no need to open a separate account to trade silver.
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