How to buy VAT-free silver in a customs warehouse

Due to changing tax regulations, you increasingly pay VAT on investment silver. Safe storage of gold and silver is also an important consideration. In this knowledge base article, we look at the possibilities of a customs bonded warehouse for silver.

New VAT Rules for Silver Coins

As of January 1, 2025, the VAT rules for silver investment coins have changed. Previously, investment coins fell under the margin scheme. This meant that VAT was only due on the dealer’s or seller’s margin when purchasing silver coins.

In 2025 this changed: both new investment coins and silver bars (without a year mark) are now subject to 21% VAT. Only silver coins minted before 2024 are exempt from VAT. However, due to these new rules, such coins have naturally become more popular and harder to obtain.

Buying VAT-Free Silver

If you still want to buy VAT-free silver, a customs bonded warehouse is an interesting option. With a bonded warehouse, you have the possibility to purchase and store goods from outside the European Union under customs supervision.

Because storage is under customs supervision, the goods are formally not imported into Europe. This means you do not owe import duties or VAT. In this way, you can buy physical silver — which you truly own, unlike silver shares — without paying VAT.

Safe Storage

An additional advantage of buying and storing silver in a bonded warehouse, for example in Switzerland, is that you don’t have to deal with the hassle of storing valuable goods yourself. The goods are securely stored in an official bonded warehouse and therefore cannot be moved or traded without your consent.

This safe storage provides peace of mind and also saves costs, since you don’t have to pay for transport or for placing a safe at home. You also avoid potential disputes with your home contents insurer. In addition, silver can easily and quickly be traded whenever you find it necessary.

VAT-Free Silver at The Silver Mountain

If you buy VAT-free silver at The Silver Mountain, it is stored at LOOMIS International in Zurich, one of the largest providers in Europe where institutions such as Credit Suisse also keep their reserves.

You do pay a storage fee, but it is offered at a very competitive rate. The Silver Mountain charges only 0.90% storage fee per quarter. Compared to shipping and storage costs at home, you pay hardly any extra, while gaining peace of mind and convenience. In addition to the storage fee, The Silver Mountain does not charge entry or administrative fees.

Selling Silver Back

As mentioned, it is easy to resell silver from a bonded warehouse. You don’t need to prove authenticity or arrange transportation. Of course, you can still choose to have your silver delivered to you — but in that case, VAT will apply. The Silver Mountain also offers a buyback guarantee of currently 98% on silver bars and silver coins.

This way, you receive a fair market price for your silver with little effort if you decide to sell. Thanks to the cooperation between The Silver Mountain and Edelmetaal Beheer Nederland, combined with an all-risk insurance policy, you are fully supported in buying and selling VAT-free silver.

Excited about buying VAT-free silver? Check out our current offerings here.

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.