Silver coin bars
The most common coin bars are the Andorra coin bars minted by Umicore and the Cook Islands coin bars. Both coin bars carry legal tender status and are available in different sizes. Coin bars are a suitable alternative to silver bars. As silver is basically considered a commodity, you pay VAT when buying silver bars.
However, coin bars are seen as coins, because the silver bar has a picture of a coin with a nominal value. You therefore do not pay VAT on silver coin bars, as these are subject to the margin scheme, just like silver coins. This means you only pay VAT on the retailer's profit margin, which is already included in the price. Read our Precious Metals Guide for more information on the margin scheme.
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