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?

Cheap UK 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, particularly for large amounts. With lower production costs compared to coins, the same weight of silver in a larger bar will typically be lower than that of multiple smaller coins. Buying a larger bar, despite having a higher price, is still cheaper in the long run thanks to the economy of scale.

Silver Britannia

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Silver Bars

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Silver Coins

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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.

Silver Britannia

For many 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.

Mass produced 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.

VAT-free silver bars

Silver can be sold VAT-free in some circumstances. In the UK for example, second hand silver can be purchased under the VAT margin scheme and sold on without VAT, helping reduce the price paid for investors. Second hand silver is worth exactly the same as new silver from a bullion investment perspective so this should always be considered.

Other countries throughout the EU will have their own rules on silver and taxation, so it's always worth checking your nation's laws, and asking a bullion dealer if they have any options available for VAT-free silver bars.