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Belgium Silver Prices and Trends

 Silver in Belgium is currently riding a wave of historic highs, driven by a "perfect storm" of industrial scarcity and a massive shift in the local tax landscape.

If you are looking at the market today, February 27, 2026, here is the breakdown of the current situation.

1. Current Market Prices (EUR)

Silver has seen extreme volatility in early 2026. After a massive spike in January that saw prices briefly touch over €3,000/kg, the market has consolidated slightly but remains at levels significantly higher than the 2024–2025 averages.

UnitEstimated Current Price (EUR)Status
Per Kilogram€2,381 – €2,450Bullish
Per Ounce (oz)€74 – €78Near All-Time Highs

Note: These are spot prices; physical bullion (coins/bars) in Belgium typically carries a premium of 10% to 25% depending on the dealer and VAT status.

2. The "Solidarity Tax" (New for 2026)

The biggest change for Belgian investors is the Capital Gains Tax that went into effect on January 1, 2026.

  • 10% Tax: A "solidarity contribution" of 10% is now levied on net annual capital gains from financial assets.

  • Physical Silver Status: While gold is explicitly listed, silver currently sits in a "grey area." Most analysts expect it to be treated similarly to gold if sold as an investment asset.

  • The €10,000 Buffer: There is an annual personal exemption of €10,000. You only pay the 10% tax on gains exceeding this amount.

  • Valuation Date: For any silver you owned before 2026, your "base price" for tax purposes is generally its market value on December 31, 2025. Any gains made before that date are tax-free.

3. Key Trends Driving the Market

  • The "Solar Squeeze": Belgium’s green energy push is feeling the heat. Solar manufacturers are the largest industrial users of silver, and with prices so high, many are scrambling to switch to copper-based technologies. However, this "thrifting" hasn't yet offset the massive demand from AI data centers.

  • Sixth Year of Deficit: Global silver supply is expected to remain in a deficit for the sixth year in a row in 2026. Mine production is stagnant, and recycling (mostly old silverware) isn't keeping up with industrial needs.

  • Gold-Silver Ratio: The ratio has compressed significantly. Traditionally, it hovered around 80:1; in early 2026, it has tightened toward 50:1, meaning silver is gaining value much faster than gold.

4. Buying in Belgium: A Quick Tip

In Belgium, silver bars are subject to the standard 21% VAT, making them less attractive for private individuals. Most local investors prefer legal tender silver coins (like the Britannia or Maple Leaf), which are often sold under the "Margin Scheme," where VAT is only applied to the dealer's profit margin rather than the full price of the coin.