Gary Bottomley

Posts by Gary Bottomley for News:

Volatility of the Pound

The recent bouncing around with the value of the pound against the dollar due the UK government's "mini-budget" has caused great volatility in the metal markets.

Jubilee Mark Withdrawn

Posted 2 years ago by Gary Bottomley

Following the sad news yesterday of Queen Elizabeth II's death, the UK Assay Offices have announced the immediate withdrawal of the Platinum Jubilee Commemorative hallmark.

Gold hits 50

Posted 3 years ago by Gary Bottomley

The continuing war in Ukraine has seen all commodity prices increase and gold especially has seen investors and savers alike turn to the yellow metal as a safe haven.

Russia Invades Ukraine

Posted 3 years ago by Gary Bottomley

Markets have reacted immediately to the Russian invasion of Ukraine with crude oil hitting a 7-year high and gold closing in on an all time record high.

Tension in Ukraine

Posted 3 years ago by Gary Bottomley

As numbers of Russian troops on the Ukrainian border build, western diplomacy falters and tensions rise, the need for safe haven investment has triggered a rise in silver and gold…

Platinum Jubilee Commemorative Hallmark

Posted 3 years ago by Gary Bottomley

From November 1st 2021, the new commemorative mark celebrating the Queen's 70th year on the throne will be available for stamping on new silver and gold at the UK assay…

Weakening Silver

Posted 3 years ago by Gary Bottomley

Silver is currently weak as an investment and has now experienced its sixth consecutive down week and ninth in the last eleven.

Precious Metals on the Rise

Posted 4 years ago by Gary Bottomley

After weeks of pushing the £20/oz barrier, this morning silver finally broke the ceiling and is trading in excess of £20/oz for the first time since the Reddit push of…

#silversqueeze Fails

Posted 4 years ago by Gary Bottomley

The weekend frenzy from Reddit’s squeeze on the silver price seems to have failed as retail purchases of available bullion silver runs dry and the Chicago Mercantile Exchange raise the…

Reddit’s push on silver

Posted 4 years ago by Gary Bottomley

Following the push in shares last week for US video games retailer GameStop, the same social media group has now turned its attention to silver and consequently the price has…

We can provide instant quotes for your silver based on the current spot or fix prices, but these are subject to change according to variations in the market.

Silver received in the post will be priced according to the advertised website quote at the time of receipt. If you would prefer not to sell at that particular price, you must inform us before 10.45AM. Your items will then be kept until we are informed to sell (see stow away service).

Silver brought in by hand before 2PM will be priced according to the advertised current website prices.

Our highest prices are based on the LBMA midday silver fix and are only applicable for quantities in excess of 500 tr.oz. (15kg). These prices are tiered for levels of 500oz+ (15kg), 1000oz+ (31kg) and 3200oz+ (100kg). These higher rates are available to clients who either have metal account facilities with us or have delivered the silver in advance. The silver must be sold before 10.45AM and will be based upon the next midday fix.

If you are a VAT registered business then it makes sense to sell the silver as a metal. We pay out the full rate of 20% on top of the net value. In order to do this we require some form of suitable proof and a valid VAT number. The VAT should be declared in the same manner as any other full VAT sale.

Perversely, for antique dealers on the margin or global accounting VAT schemes, it is actually beneficial to sell metal rather than an article. If sold as a metal you will receive the entire sold value of the item and declare the VAT in your returns. If sold as an article, you would pay VAT on your profit and therefore actually receive less gross profit! So unfortunately there is a financial inducement for silver dealers to scrap, rather than deal in articles.

If you are a member of the public or a non VAT registered business, then we will pay out the net amount without the extra VAT.

For quantities less than 500 troy ounces (15 kg), we invariably pay out on the day of delivery for items received in the post, or whilst you wait if the items are delivered in-person. For quantities over 500 troy ounces, the majority are paid out immediately as described above, or once metal checks have been completed (always within 3 days).

We can pay by bank transfer, cheque or Paypal. For the former, please provide you bank account number and sort code with your order.

Metal account facilities are available for regular clients. Silver can be sold from this account at any time during normal working hours. An account can be topped up with fresh metal deliveries by appointment and sold when the price is right. Account holders will receive regular statements and have the ability to forward sell.

To comply with Anti Money Laundering legislation, we carry out due diligence for all orders over £1000 and all trade clients wishing to open a metal account. We require two forms of ID (one with photo and one with address) and a completed Due Diligence form. Online Companies House checks will be performed where appropriate.

Regular clients can forward sell in anticipation of the next fix before 10.45AM. This is a binding contract and if the silver is not in an existing metal account, then the silver must be received within three to five days depending upon quantity. Forward selling in excess of 3200oz (100kg) must be received within 24 hours.

As an alternative to a metal account we offer our unique and popular Stow Away service. This service will safeguard you against a sudden overnight drop in price. If you have posted goods to us and there is an overnight drop in price you can phone/email us before 10.45am and ask us to hold off selling. We store your silver in a temporary metal account until such a time that the price is right for you. All you then need to do, is phone/email us before 10.45am on the day you wish to sell.

The Stow Away Service is only available to trade clients for quantities in excess of 100tr.oz or 3kg.