In the United Kingdom many investors prefer to buy bullion online. This is especially true with gold, which is the only precious metal in the United Kingdom that is not tagged with a 20% VAT. In fact, there is also an exception for capital gains tax, which occurs when you purchase legal tender gold coins, such as the Gold Britannia or the Gold Sovereign.
Although the capital is the financial center of the United Kingdom, and one of the biggest financial cities in the world, it seems that the biggest bullion dealers (except BullionVault that is located in London) are actually situated further north, in the city of Birmingham. This is where you will find the likes of Bullion By Post, which is the biggest bullion dealer in the country. There are still a number of bullion dealers operating in London though, and in this article we will rate the biggest and the most reputable of these.
BullionVault claims to be the “World’s biggest online bullion market”. With headquarters in London, they store gold and silver in vaults located in London, Zurich, New York, Toronto and Singapore. Moreover they carry one of the lowest charges of the market (0.50% to buy/sell gold or silver). If you are OK to purchase “mutualized” bullion (with this top UK dealer you own a part of a bar, not the complete item), and if you want more information on BullionVault, you can read our in depth review.
Proud to call itself “London’s Bullion Dealer”, ATS is the biggest dealer in the city of London. It is located in the Strand, nestled in the famous Savoy Court. It doesn’t get more lavish than this, and if you are afforded the chance to visit this premises, then you should take it. Not only can you view all of the gold and silver bullion they have on show, but you can also step into one of the richest and the most exclusive parts of the West End.
ATS Bullion sells LBMA-approved gold bars, also known as “Good Delivery” bars, and it attracts a lot of business from millionaire and billionaire investors. After all, if you have that sort of money to throw around, then you might be reluctant to spend it online and to trust in the Royal Mail. But with the high levels of anonymity and security offered by ATS Bullion, as well as a host of payment and transit options, it makes the process more inviting.
ATS Bullion offer a delivery service, with free delivery to certain locations, and you can also reserve and pay for your order online, before picking it up in-store.
As well as Good Delivery bars, ATS Bullion also stock:
- Gold Sovereigns
- 1 Ounce Gold Coins
- Royal Mail Proof Sets
- Silver Bullion (limited amounts)
You can also sell your gold to ATS Bullion. Just take to their offices and they will appraise it and then offer you a price.
The Harrods name is synonymous with class and elegance, especially here in the city of London. The Harrods department store has been the port-of-call for rich tourists and locals seeking the best of the best for many decades, and it is also home to some incredibly valuable bullion. Although you would expect a name like Harrods to focus more on collectible and “show” pieces, it’s all about investment-grade bullion here, and gold in particular.
They have one of the widest selections of PAMP bars in the city, and whereas many local bullion dealers focus on the Royal Mint, Harrods put quality and reputation first, and don’t prioritize the local mint. If you want the security that a big reputation can bring, and you’re hoping to set yourself up with an investment opportunity, then Harrods Bank may be just what you need. However, if you’re hoping to browse a wide range of bullion or to add a few coins to your collection, this is not the best option at your disposal.
Other London Dealers
All of the following bullion dealers are also based in and around the city:
- Sharps Pixley
- Bleyer Bullion
- UK Bullion