BullionByPost
Best dealerUK's #1 silver dealer — widest selection
- Free insured next-day delivery
- Widest UK silver selection
- CGT-free Silver Britannias
- Live pricing updates
Coins & Bars
Free next day
£40
at bullionbypost.co.uk
Why #1?
BullionByPost leads for physical silver despite the 20% VAT. Their widest selection, free delivery, and CGT-free Britannias make them unbeatable for those who want to hold silver in hand.
iShares Physical Silver ETC (ISLN)
Best ETF (no VAT)VAT-free silver exposure — saves 20% vs physical
- No 20% VAT — saves ~£200 per £1,000 invested
- Competitive 0.20% TER
- ISA and SIPP eligible
- Most liquid UK silver ETC
ETF (VAT-free)
0.20%
ISLN
at ishares.com
Why #2?
iShares ISLN is arguably the smartest silver investment in the UK because it avoids the 20% VAT that makes physical silver expensive. A £1,000 silver investment saves approximately £200 in VAT via an ETC.
BullionVault
Best vault storageLowest silver vault storage fees at 0.48%/year
- Low 0.48% annual silver storage
- 5 global vault locations
- 24/7 online trading
- No VAT on vault silver
Storage (VAT-free)
0.48%/year
5 global vaults
at bullionvault.com
Why #3?
BullionVault's silver storage avoids VAT (silver in professional vaults is treated differently). At 0.48%/year, it's the cheapest way to own allocated physical silver without the VAT burden.
The Royal Mint
Best for trustOfficial UK mint with DigiSilver and vault storage
- DigiSilver from £25
- The Vault™ storage
- CGT-free Britannias
- Unquestionable authenticity
Dealer + Storage
Free
£25
at royalmint.com
Why #4?
The Royal Mint offers physical purchases, DigiSilver, and vault storage. Their Silver Britannias are CGT-free, and DigiSilver avoids VAT. A complete silver investment platform from the most trusted name.
WisdomTree Physical Silver (PHAG)
Largest silver ETCThe largest silver ETC by AUM with long track record
- Largest silver ETC globally by AUM
- 15+ year track record
- ISA/SIPP eligible
- No VAT on ETC purchases
ETF (VAT-free)
0.49%
PHAG
at wisdomtree.eu
Why #5?
WisdomTree PHAG has the largest AUM and longest track record of any silver ETC. The 0.49% TER is higher than iShares, but its size and stability make it the second-best ETF option.
The Royal Mint Vault
Most secure vaultGovernment-backed silver storage
- Government facility security
- DigiSilver from £25
- Physical delivery option
- Full insurance
Storage
1%/year + VAT
Wales, UK
at royalmint.com
Why #6?
The Royal Mint Vault provides government-level security for silver. Higher fees than BullionVault but the trust factor of a government facility is unmatched.
Atkinsons Bullion
Best pre-ownedVAT Margin Scheme pre-owned silver saves money
- Pre-owned silver reduces VAT cost
- Highest customer rating (4.9 stars)
- 30+ years family-run
- Excellent buy-back prices
Coins & Bars
Free over £500
£100
at atkinsonsbullion.com
Why #7?
Atkinsons' pre-owned silver under the VAT Margin Scheme can reduce the effective VAT burden. With the highest customer rating and 30+ years experience, they're the value pick for physical silver.
Invesco Physical Silver ETC (SSLV)
Cheapest ETCThe lowest TER silver ETC at just 0.19%
- Lowest TER at 0.19%
- Invesco institutional quality
- ISA/SIPP eligible
- No VAT
ETF (VAT-free)
0.19%
SSLV
at invesco.com
Why #8?
Invesco's silver ETC offers the lowest annual cost at 0.19%. Lower trading volumes than iShares, but for long-term holders the fee savings compound significantly.
Brinks
Best securityWorld-class vault security for silver holdings
- LBMA-approved London vaults
- World-leading security
- Handles silver bulk efficiently
- Full insurance
Storage
London
Via partner
at brinks.com
Why #9?
Brinks provides institutional-grade security for silver storage, handling silver's extra bulk in their purpose-built facilities. Access through BullionVault and dealer partnerships.
Chards
Best for coinsLBMA dealer with excellent rare silver coin selection
- LBMA accredited dealer
- Excellent rare coin selection
- Expert numismatic advice
- International shipping
Coins & Bars
Free over £250
£50
at chards.co.uk
Why #10?
Chards excels for collectors seeking rare and collectible silver coins. Their LBMA accreditation adds credibility. For standard bullion, other dealers may offer better value.
Quick answer
The best UK silver investment options for 2026 are BullionByPost for physical silver (9.8/10), iShares Physical Silver ETC for VAT-free ETF exposure (9.5/10), and BullionVault for vault storage (9.4/10). Silver ETCs are especially attractive in the UK because they avoid the 20% VAT on physical silver.
How we test & rank
We compare dealers, ETFs, and storage on a unified scale, with special attention to the UK VAT impact on physical silver and the CGT-free advantages of Silver Britannias.
Summary
The VAT factor makes silver ETCs unusually attractive in the UK — you avoid 20% in upfront costs. For physical ownership, BullionByPost leads. For storage, BullionVault is cheapest. Consider Atkinsons for pre-owned silver at reduced VAT.
Frequently asked questions
Should I buy physical silver or silver ETCs in the UK?
Silver ETCs have a massive advantage in the UK: they avoid the 20% VAT on physical silver. A £1,000 silver investment costs £200 more in physical form due to VAT. ETCs are better for pure investment; physical silver is better for tangibility and CGT-free Britannias.
Are Silver Britannias VAT-free?
No, Silver Britannias are subject to 20% VAT like all physical silver in the UK. However, they ARE CGT-free (Capital Gains Tax exempt) because they're legal tender. This means no tax on profits when you sell, which partially offsets the VAT cost for long-term holders.
Quick comparison
| # | Option | Score | Rating | Delivery | Min order | TER | Ticker | Type | Action |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BullionByPost Best dealer | 9.8 | 4.8 | Free next day | £40 | — | — | Coins & Bars | Visit |
| 2 | iShares Physical Silver ETC (ISLN) Best ETF (no VAT) | 9.5 | 4.7 | — | — | 0.20% | ISLN | ETF (VAT-free) | Visit |
| 3 | BullionVault Best vault storage | 9.4 | 4.6 | — | — | — | — | Storage (VAT-free) | Visit |
| 4 | The Royal Mint Best for trust | 9.3 | 4.7 | Free | £25 | — | — | Dealer + Storage | Visit |
| 5 | WisdomTree Physical Silver (PHAG) Largest silver ETC | 9.2 | 4.5 | — | — | 0.49% | PHAG | ETF (VAT-free) | Visit |
| 6 | The Royal Mint Vault Most secure vault | 9.1 | 4.7 | — | — | — | — | Storage | Visit |
| 7 | Atkinsons Bullion Best pre-owned | 9.0 | 4.9 | Free over £500 | £100 | — | — | Coins & Bars | Visit |
| 8 | Invesco Physical Silver ETC (SSLV) Cheapest ETC | 8.9 | 4.5 | — | — | 0.19% | SSLV | ETF (VAT-free) | Visit |
| 9 | Brinks Best security | 8.8 | 4.5 | — | — | — | — | Storage | Visit |
| 10 | Chards Best for coins | 8.7 | 4.6 | Free over £250 | £50 | — | — | Coins & Bars | Visit |
Scores out of 10 based on our testing. Ratings reflect verified customer reviews.