Digital Silver

Why Buy Digital Silver?

Digital silver is also commonly referred to as an "unallocated silver metal account". With an unallocated account, customers can pre-fund larger orders by making multiple smaller deposits at various live prices which can reduce the price risk of placing one large order. Other customers may wish to use this service to gain price exposure without going through with a physical bullion transaction and selling the troy ounces on account back to us for 100% at some future time. 

Customers are required to open an account with us and provide 2 forms of identification - read more about this by clicking here. Once we verify the documents your account is ready to use and you can purchase gold and silver the same day!

We also offer unallocated gold on account and you can buy this direct on our dedicated page for digital gold.

Customers who wish to buy coins and bars for allocated and segregated storage can read more about this on our vaulted gold and silver page.

Buy Digital Silver

You can use the following widget to buy digital silver on account right now at 1% premium over spot. Payment options include bank transfer, debit card, cheque and cash depending on the transaction value. 

You can read more information below including our 'What You Need to Know' section covering important topics from the full terms of sale.

What You Need to Know

Key facts about buying digital silver:

  • Sold at 1% premium over spot.
  • Chards will purchase any amount of troy ounces on your account for 100% of the live spot rate regardless of current price. Payment is usually set up the same day and we ask that you check with our team on the day.
  • There are no storage fees associated with digital silver
  • Digital silver is available 24 hours a day, 7 days a week, 365 days a year.
  • Large orders (over £50,000) require a 10% deposit to be paid.
  • Large orders (over £50,000) require we fix prices using the daily (Monday-Friday) LBMA fix at 12 noon London time*.
  • Buying digital silver gives you the right to take delivery of physical silver at a future date determined by you.
  • If you wish to redeem your silver, you are required to pay a delivery premium. If you choose the product(s) you pay the live premiums on our site and if you ask Chards to select the items on your behalf the charge is a minimum of 30%. Further delivery costs apply should you wish for onward delivery to your address.
  • Customers are required to have an account open with us and to pass our due diligence checks prior to any order being accepted. If you wish, you can set up an account by clicking here.
  • The minimum order value is GBP 10, USD 10 or EUR 10.
  • Our stock is fully insured by Lloyds of London and we are an award-winning bullion dealer with over 55 years' experience. We invite you to check our financials on Companies House, carry out your own due diligence or even pop in for a chat. (Appointment required during Covid-19)
  • Digital silver is sold VAT free as delivery of physical bullion will be sent to allocated storage in Guernsey as standard. Any request for delivery within the UK will be subject to VAT (20% for new and reduced amounts for special scheme). Customers who wish to import themselves are required to declare the goods to customs and pay any duty at the border.

Full Terms for Digital Gold and Silver (Unallocated Metal Account) - https://www.chards.co.uk/info/metal-account-terms

*This leaves a slight chance of confusion when the United Kingdom is on daylight savings time, which is one hour ahead of Greenwich Mean Time (GMT/UTC). The fix timing does not change, so for over half the year the fix timing for silver is actually 11:00am GMT/UTC. The LBMA state very clearly on their website that the timings are on ‘London time’, so the fixing time stays the same when the UK time changes in March and October.

What Is Unallocated Silver?

A digital silver account with Chards is commonly referred to as "unallocated silver account". This means you are purchasing a number of troy ounces of silver without specifying the design, form, manufacturer etc therefore paying low premiums, avoiding storage costs and any delivery charges for the time you hold the metal.

Selling Digital Silver to Chards

We buy back digital silver at 100% of the spot price. This sale will be liable for UK capital gains tax if over the official threshold and we would recommend transacting into physical CGT-exempt coins to avoid this.

Alternatively, any metal held in account can be used as a payment option for any other product or service from Chards.

Why Silver?

Silver is a precious metal that has been used for thousands of years as a medium of exchange, unit of account and as a means to preserve wealth. In ancient Egypt, Greece and China, silver ingots were used by merchants and officials to pay for trading transactions. It was first used as money in Lydia in the Persian Empire in the sixth century BC. This form of coinage spread around the world and became a common monetary trading facility. Silver coins continued to be used in coinage in Britain until 1946 when they were replaced by the cheaper and more durable cupro-nickel coins. Now, silver is primarily used for industrial purposes, but it functions as a popular investment asset as well.

Silver Facts

  • Silver is exceptionally shiny. It is the most reflective element, which makes it useful in mirrors, telescopes, microscopes, and solar cells. Polished silver reflects 95% of the visible light spectrum.
  • The words for ‘silver’ and ‘money’ are the same in at least 14 languages.
  • Silver metal is non-toxic to humans. It can even be used as a food decoration.
  • Only gold is more ductile than silver. An ounce of silver can be drawn into a wire a mile and a half long.
  • A single grain of silver can be pressed into a sheet 150 times thinner than the average sheet of paper.
  • Silver is the best electric conductor out of all elements, being used as the standard by which other conductors are measured.
  • To date, over 45 billion troy ounces of silver have been mined throughout human history, which is roughly the same weight as 110,000 London buses.

Are You Ready to Buy Digital Silver?

Have a look at our Metal Accounts page to take advantage of this opportunity to buy and take ownership of silver at very low premiums.

You can also find more information on how the metal accounts work and all the relevant terms and conditions can be access from this page – click here for details!

Advice Disclaimer

We are not financial advisers and we would always recommend that you consult with one. We can only give advice on what the best deals are from Chard to match your budget and investment portfolio at the time you make enquiries. We try to keep our investment advice very simple. We cannot predict with any certainty what silver, gold or any other commodity or currency will do over short, medium or long periods of time. Because of this, we tend to avoid giving any definite advice or strong opinion. There are some areas where we have considerable experience and feel we can safely give our thoughts. Some of it may appear obvious but we often find ourselves repeating it.

Further Reading

We also offer unallocated gold on account and you can buy this direct on our dedicated page for digital gold.

Customers who wish to buy coins and bars for allocated and segregated storage can read more about this on our vaulted gold and silver page.

Our Gold Guide and Silver Guide provide comprehensive reading for those looking to invest in precious metals. Here are some sample articles:

How Do I Invest in Silver? 

The History of Silver

Gold or Silver? Which is the Better Buy?

Full Terms and Conditions

Full Terms of Sale for Physical Bullion - https://www.chards.co.uk/info/terms-of-sale

Full Terms of Vaulted Storage (Allocated and Segregated Metal Account) - https://www.chards.co.uk/info/storage-terms-of-sale

Full Terms of Purchase (selling to Chards) - https://www.chards.co.uk/info/terms-of-purchase

Full Terms for Digital Gold and Silver (Unallocated Metal Account) - https://www.chards.co.uk/info/metal-account-terms