Which silver coin would be best to buy?

Which silver coin would be best to buy?

Which silver coins should you buy and what about VAT? You’ll find all the answers in this article.

Buying Silver Bars or Silver Coins?

If you want to invest in silver, you can choose between silver bars or silver coins. Although silver bars are generally a bit cheaper per gram, many people have opted for silver coins in recent years.

A key reason for this is that silver bars are taxed at 21% VAT, while silver coins could previously be traded under the margin scheme. Under this scheme, VAT only needed to be paid on the dealer’s profit margin, which resulted in a VAT rate of just 1% to 2% with a margin of 5% to 10%.

Pre-owned Coins

However, since 2025, new silver coins are also subject to 21% VAT. This change only applies to coins minted from 2025 onward. Older coins, referred to as pre-owned coins, still fall under the margin scheme.

As a result, there is a significant price difference between new and used coins, making it more advantageous to buy used coins. That said, demand for these is understandably high, and the supply of coins with VAT is growing, making used coins harder to obtain.

Popular Silver Coins

New silver coins are readily available, while used ones have become more difficult to find due to the new VAT policy. At The Silver Mountain, silver coins are available in sizes ranging from 3 grams (1/10 troy ounce) up to 1 kilogram per coin, with the 1 troy ounce (31.103 grams) size being the most common. These are often sold in tubes of 20 or 25 coins.

Well-known examples include the Canadian Maple Leaf, the Austrian Philharmonic, the Australian Kangaroo and the Krugerrand. These coins are globally recognized and easy to trade. There are also collector silver coins available, but these are often priced higher and therefore less suitable as investment products. The Silver Mountain offers a wide range of both investment and collector silver coins.

What is the Price Advantage of Pre-owned Silver Coins?

As of May 2025, a pre-owned 1 troy ounce Maple Leaf costs €36.15, which comes down to €1.16 per gram. A new 1 troy ounce Maple Leaf, including VAT, costs €39.70, or €1.28 per gram. That’s nearly 10% more expensive, which can amount to a significant difference depending on your investment amount.

So, buying used silver coins, when available, is definitely the best choice if you’re looking to invest in silver coins.

Price Difference Between Silver Bars and Coins?

As the availability of used coins decreases, silver bars may become a more attractive option in terms of price. For example, a 1-kilo bar costs only €1.22 per gram, a 5-kilo bar is even slightly cheaper. While this isn’t as inexpensive as a used, VAT-exempt silver coin, it’s considerably cheaper than a new silver coin with VAT.

It remains unfortunate that the Dutch government taxes investment silver at 21% VAT, but despite this, buying investment silver can still be worthwhile. You can read more about that in this article.

Disclaimer: The Silver Mountain does not provide investment advice and this article should not be considered as such. Past performance is no guarantee of future results.