Gold bars of Sberbank of Russia

The first purchase of gold for storing money, and not in the form of jewelry, in Russia occurred at the end of the 20th century. Since then, gold bars and their purchase are considered one of the best ways to invest money. And here there is nothing surprising, because gold cannot depreciate.

Why do we need gold bars?

So, as mentioned above, the purchase of gold bars is a way to reliably store your finances.

In addition, you can make good money buying bullions by reselling it at a higher price. But for this it is necessary to constantly monitor the current exchange rate so as not to miss the chance to sell your gold at a higher price.

Bank ingots can vary in their shape, weight, sample of gold and so on. For a better understanding, consider this issue in more detail.

Gold Bullion Classification

There are several classifications that distinguish the types of gold bars.

Depending on the manufacturing method:

1. Cast gold bar. Metal (gold) is melted into special forms. The weight of such an ingot usually exceeds 500 grams.
2. Stamped Gold Bar. The price for it will be significantly higher than in the previous version. This is due to the features of production, during which the stamp presses on the surface of the metal. The surface of such an ingot is even and smooth, and the weight can be from 1 gram to 1 kilogram, although the most common options are 500 grams.
3. Powder Gold Ingot. It is produced using electrolytic processes from gold powder. But in Russia this manufacturing method is not used.

Depending on the sample:

1. 999.95 - 999.99. In such ingots, the percentage of gold in 1 gram of alloy is 99.95-99.99%.
2. 999.99 - "pure" gold. Gold bars with such a breakdown are the quality standard and are most in demand in the investment market.

Depending on the form:

1. Rectangular This is the most popular and convenient view. The next three are much less common.
2. Round.
3. Square.
4. Oval.

Bank classification of ingots based on state

When buying gold bars, the bank first of all pays attention to their external condition. Based on this, there is some generally accepted classification:

1. Gold bars in excellent condition. These include gold without any damage in the form of scratches, cracks, abrasions, foreign inclusions, and so on. Ingots of this type have a smooth smooth surface, the stamp affixed is clearly visible. In addition, the certificate that comes with the ingot is also in perfect condition: no streaks, breaks, records, etc.
2. Gold bars in satisfactory condition. These include gold with scratches, dents, scuffs, but provided that the weight of the ingot has not changed (compared to the original). As for the certificate, it can be torn (or the absence of any part of it), the logo is smeared, the presence of extraneous records, logos or seals that make it difficult to view the text. The bank buys such bullion, but subject to reduction in their value.
3. Unsatisfactory bullion. They are characterized by significant surface damage that caused the ingot to lose weight. Also, a decision on the unsatisfactory condition of gold can be made as a result of doubts about its authenticity and the absence or damage of the certificate, as a result of which it is not possible to verify the manufacturer's information, sample, etc.

Who can buy a gold bar and where can it be done?

The purchase of gold bullion is available to all citizens with documents that prove their identity.These documents include:

• passport of a citizen of the Russian Federation;
• passport of a citizen of another country;
• identification;
• military ID (while in military service);
• refugee certificate;
• sailor's passport.

Before buying, it is important to familiarize yourself with organizations that sell gold bars in advance. Banks in this case will be the best option, since only in this case can you remain confident in the quality of the metal and the legality of the transaction.

It is also important to remember that legislation does not support the purchase and sale of gold bullion between individuals. In addition, the risk of being cheated increases in this case, and the law can not help.

Which Russian banks are involved in the purchase and sale of gold bullion?

To date, 207 banks in Russia have a license to sell gold in the form of ingots. At the same time, the most popular among the population are such banks as Gazprombank, Petrocommerce, Bank of Moscow, MDM Bank, Promsvyazbank, AK Bars, Nomos-Bank, Sberbank. Gold bars are sold at the best rate. In addition, they have official websites with all the necessary information, for example, the current course of buying and selling precious metals.

One of the "discoverers" of the market precious metals Russia was Sberbank, so we will consider the features of buying bank gold bullion precisely on its example.

The procedure for buying gold bars at Sberbank

First, the buyer needs to find a bank branch where you can buy gold bullion. In addition, it is important to immediately determine whether they buy bullion from the population, as there are branches that deal exclusively with sales. Most often, the necessary departments are central in the city or regional center. Next, you need to call the department and clarify whether they have the right size ingots, and make an appointment.

To purchase gold, you must have a passport or other identity document, as well as a bank card with the required amount on it. At the same time, the bank conducts all operations with the person who decided to buy an ingot, and in his presence.

After the purchase, the customer receives:

1. Gold bar in a plastic container. Despite the fact that it is not forbidden to open the package, it is extremely undesirable to do this, since the appearance of the ingot may change due to contact with the skin of the hands. As a result, during the sale, the bank may offer a reduced price for it.
2. A check indicating the value of the bar, which is a confirmation of the transaction.
3. Certificate, which indicates the sample of gold bars, their authenticity and the fact of the purchase. In addition, the number of the ingot coincides with the number indicated in the header of the certificate. It is important to remember that the certificate must be kept with the same responsibility as the bar itself, since in case of loss the bank has the legal right to refuse to redeem gold. It is also important to keep it from possible divorces, gaps, etc., since in this case the bank may lower the redemption value of the bullion due to its satisfactory rather than ideal condition.

VAT upon purchase of gold bars

The purchase and further sale of gold bars is a fairly simple and, at the same time, profitable activity. But there are some nuances that can overshadow the "rainbow" picture of what is happening. We are now talking about value added tax (VAT), which must be paid when buying bank gold bullion.

The amount of VAT when buying precious metals is equal to that accrued during the purchase of any other product and is 18% of the cost.

This is a serious obstacle for many, as the buyer loses money not only on the difference in the purchase and sale rate, but also these 18%. Although there are some ways to avoid paying VAT.

How to avoid paying value added tax when buying gold?

There are two ways to avoid paying VAT when buying a gold bar. At the same time, each of them has its own specific drawbacks and only the buyer can decide for himself what he should do: pay tax or use any of the options below.

1. Purchase of gold bullion outside of Russia.

In many countries there is no law that provides for any taxes on the purchase of precious metals (in our case, gold). But the minus of this method is the possible problems at customs during the transport of gold bullion to the country. In addition, it is sometimes difficult to sell an ingot bought in another country.

2. Storage of a gold bar on a metal bank account.

In this case, the buyer opens a special metal account responsible storage (MLA), and its ingot is placed in a certified storage. At the same time, he does not receive gold in his hands; all purchase and sale operations are carried out without removing the bullion from the vault.

The disadvantage of the method is only that there is no physical presence of gold from the buyer. And if for some this is completely unimportant, then others simply need to visualize the perfect purchase in the form of an ingot with a stamp, serial number, and so on.

Gold bullion price

The price of gold bullion (as well as the purchase of foreign currencies) is constantly changing.

Every day, the Central Bank of the Russian Federation sets a course for precious metals, and commercial banks, guided by it, change it at home. The current rate can always be viewed on the official website of the bank, in cooperation with which the client is interested.

The price of a gold bar depends on the price of oil and the cost of the metal itself, so experienced analysts have already learned to find patterns in exchange rate changes, which helps them get as much profit as possible from the purchase and sale process.