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<p>[QUOTE=&quot;tommybee, post: 907201, member: 24999&quot;]I have recently read that there is a bank in Switzerland (KZB) that offers a silver ETF.&nbsp; By Swiss law, the bank must keep the silver on site and whatever silver you buy is held for you there.&nbsp; In other words, if you buy silver there are actually bars with your name on them at the bank. (I&#039;ve heard horror stories about people buying gold/silver that only exists on paper.&nbsp; I&#039;ve heard some funds even charge storage fees for gold that hasn&#039;t even been set aside.)</p><p>&nbsp;</p><p>Has anyone purchased PM in Europe?&nbsp; It is my understanding that silver in Europe is subject to a VAT tax.&nbsp; How would that work for a foreign investor?&nbsp; I&#039;m not interested in physical possesion in this situation.&nbsp; (I have 1000 oz locked away already.) I just want to diversify my silver holdings.&nbsp; </p><p>&nbsp;</p><p>Anyone have any thoughts on this?&nbsp; Good idea, or no?&nbsp; I need to figure out the tax implications to decide if its even worthwhile.&nbsp; I was also told that if I sold any silver I currently possess at a profit I would have to declare that profit and pay a capital gains tax on it...is this correct? </p><p>&nbsp;</p><p>Thanks![/QUOTE]</p><p><br /></p>

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