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Austrian 1780 Maria Theresa Silver Thaler - Mixed Dates (Pre-Owned Bullion)
Pre-Owned 1kg Silver Bar : Best Value Investment
Best Value 1oz Silver Britannia Coin - Mixed Dates from 2013 Onwards
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Pre-owned bullion is all about value. You're buying the same weight and purity of precious metal as you would with a brand new item, but at the lowest possible margin we can offer. Because these pieces have been owned before, they may show small marks, handling scuffs or other signs of wear. That's perfectly normal, and it doesn't change the metal content, weight, or specification in any way.
Every item is carefully checked and authenticated before it reaches our shelves, so you can buy with complete confidence. For many investors, the appeal is simple: you get more metal for your money. Condition is secondary to value here; if your goal is to maximise the amount of bullion you own, pre-owned stock can be a very cost-effective choice.
When you buy silver, platinum, or palladium bullion in the UK, Value Added Tax (VAT) can significantly impact the cost. Unlike investment-grade gold, which is VAT-exempt, these metals are normally subject to VAT at 20% when sold new.
The VAT Margin Scheme provides a way to reduce this cost when buying pre-owned bullion. Here's how it works: when a coin or bar is first sold as a brand-new product, VAT is charged in full. Once that VAT has been accounted for, the same item can later be sold under the Margin Scheme. In this case, VAT is only applied to the dealer's margin (their profit) rather than the entire metal value.
For you as a buyer, the benefit is simple - the overall price is lower, because you're not being asked to pay VAT a second time on the intrinsic metal content. The bullion itself is identical in weight and purity to brand-new items; the only difference is that it qualifies as pre-owned.
Your questions answered
We've compiled a list of our most frequently asked questions. If there's something we haven't covered, please call us & we'll be happy to help. Read all FAQs.
The scheme applies to pre-owned silver, platinum, and palladium bullion. Gold bullion is already VAT-exempt, so it is not affected.
Because the full VAT was already accounted for when the coin or bar was originally sold as a new product. Under UK rules, it can then be resold on the Margin Scheme, keeping costs lower for the next buyer.
No. The coins and bars are exactly the same specification for weight and purity. The only difference is that they have previously been sold, allowing them to qualify as pre-owned. Pre-owned bullion may show signs of wear or handling, but its technical specification remains the same.
No. Under the Margin Scheme, VAT cannot be shown separately. It is included within the total price, but only calculated on the dealer's margin.
Not at all. When you sell your bullion, the buyback price is based on its metal content and weight, not on whether it was sold under the Margin Scheme.
Cost. Without it, you'd be paying 20% VAT on the full bullion price every time you bought silver, platinum, or palladium. The Margin Scheme ensures you don't pay VAT twice, making these metals far more affordable as an investment.
It's a system that allows dealers to charge VAT only on their profit margin, rather than the full value of the bullion. This is possible because VAT was already paid when the item was first sold as new.