There is no VAT chargeable on selling silver, or any other VATable item, to anyone by anyone unless the vendor is liable to VAT-registration as below.
So far as private sales by tax-exempt individuals are concerned, although no tax is payable the total price paid is usually the same as if it were chargeable. That is because the vendor has almost always paid the VAT when they purchased the metal. The "going rate" includes tax.You MUST register for VAT when the value of your taxable supplies exceeds the registration threshold.
If the value of your taxable supplies in the past 12 months or less has exceeded the current VAT registration threshold of £67,000, or the value of your taxable supplies in the next 30 days alone is expected to exceed this threshold, you should read the publication below ......
So EbayUK prices for particular units of silver are similar regardless of whether or not the vendor is VAT-registered.
So far as I am aware there is little black market in silver. Smuggling tobacco products is big here.
Never heard of paying taxes on gold or silver in Illinois or Missouri when I bought from a dealer. The dealers I've gone to just quote me on a price and if I agree I simply pay in cash... thats that! Unless there is a tax built in that I've not been told of, I'm not aware of having paid any taxes on any of my PM purchases.
some ebay- charges sales to in my state. 6%, more in Philly/Pitt.
I have purposely not made purchases in local stores or where there is the sales tax.
often the tax is the amount of shipping...or close to it.
I dont have a local coin shop= but im pretty sure it would be 6%. only food and clothing is no tax here.
If you buy your silver from the Royal Canadian Mint in Winnipeg, Manitoba they charge you 7% Provincial Sales tax. Price of a silver maple today was $40 CDN. It does come in a pretty box though. There is also a full size gold bar there you can pick up (feels like 40 pounds)/fondle/drool over.
If you buy through a coin shop there is no tax on bullion. Maples are about 22-24 CDN$. No box/cover though. (more for olympic/Tbird) Sorry but I don't have today's exact price (should still be close though).
Works out to a darn expensive jewellry box.
Also of note the mint had NO gold maples of any size (only one ounce bars) as they are waiting for the 2009's. The coin shop I go to says it is harder and harder for him to get silver and gold. Waiting 6 weeks for his next mint delivery.
Hope this helps.
"Does the government fear us? Or do we fear the government? When the people fear the government, tyranny has found victory. The federal government is our servant, not our master!" - Thomas Jefferson
I found this on line:
California Tax on all bullion purchases under $1,000 (CA gold not taxed)
Florida Tax on all bullion purchases under $500
Mass Tax on all bullion purchases under $1,000
New York Tax on all bullion purchases under $1,000
Texas Tax on all bullion purchases under $1,000
"The future isn't what it used to be" Yogi Berra
As far as I know there is no sales tax in Alberta, as long as the metals are 999 pure. I am not familiar with the states and pm taxing.