Silver Coins in Switzerland: Vreneli, Taler and Investment Coins

Unlike gold, silver in Switzerland is subject to 8.1% VAT — a significant consideration when buying physical silver coins. Despite this, Swiss investors remain active silver coin buyers, particularly for the Maple Leaf (Canada), Britannia (UK) and Vienna Philharmonic (Austria).

VAT on Silver: The Swiss Disadvantage

Swiss VAT of 8.1% applies to all silver purchases (coins, bars). This means buying a 1oz silver coin at approximately 59 CHF market price costs approximately 63.80 CHF including VAT. Selling does not recover the VAT — so the initial VAT cost must be recovered through price appreciation before the investment breaks even. At current silver prices (approximately 75 USD / 59 CHF per oz), a 8.1% rise in the silver price is needed just to recover the VAT cost.

Most Liquid Silver Coins in Switzerland

• Canadian Maple Leaf (1oz, 99.99% Ag): Most widely traded globally; tight spreads; easy to sell to any dealer
• Austrian Vienna Philharmonic (1oz, 99.9% Ag): Popular in DACH region; good liquidity with Austrian and German dealers
• British Britannia (1oz, 99.9% Ag): Good European liquidity
• American Silver Eagle (1oz, 99.9% Ag): Globally recognised but slightly higher premiums in Switzerland

Historical Swiss Silver Coins

Historical Swiss silver coins (Taler, 5-Franc pieces) have numismatic value but limited investor liquidity. They are best suited for collectors rather than as a pure silver investment vehicle.