How to buy gold?
Gold is a precious metal. It has natural properties: divisibility, uniformity, portability and persistence. It is thanks to them that gold, more than other metals, is suitable for the role of money. Although since 1976 coins from this metal have been taken out of circulation all over the world, nevertheless, it still remains an excellent means for investment. No matter what crises threaten financial institutions, investments in gold always remain stable. They are very effective in terms of long-term prospects. There are historical notes in which it is said that for the same number of grams of gold it was possible to purchase the same goods as hundreds of years ago. No currency in the world is capable of such a test of time.
Basically, in our time, investing in gold is more successful abroad than in Russia. Nevertheless, this type of investment is gaining momentum in our country. There are two ways to buy gold. This is the acquisition of gold bars or gold coins, which are issued by the Central Bank.Both options have both advantages and disadvantages. This article describes this in detail to help make a decision about how to buy gold is most beneficial for you.
Gold coins of the Central Bank of Russia
We will understand how to buy gold in the form of coins. When buying precious metal bars, you must pay VAT. It is not very profitable. But when purchasing gold coins, there are no such problems. They appeared in our country in 1996. Then the Central Bank decided that storing them with dead weight was not profitable and released for free sale. Later, all transactions with precious metals were taxed at a rate of 20%. This led to a complete absence of those wishing to buy and sell gold coins. They were in demand only among collectors.
As a result of this, Sberbank of Russia was forced in 2001 to abolish the value-added tax when buying gold coins. Since then, their turnover is in the hundreds. It is customary to acquire gold coins not only as an investment, but also for gifts.
Customers can open metal accounts.This is when money is invested in precious metals formally, without the removal of coins from the bank. In this situation, there is a significant plus. Even if something happens to the account, the investment will still be given out in gold.
Most often, among precious metals, gold is in demand as an investment vehicle. This is easily explained. This metal is constantly growing in price. While silver has a constant stable value. To successfully carry out such transactions, it is necessary to constantly monitor the rate of gold in rubles.
Having decided to invest your capital in Sberbank's precious coins, you must remember that not all of them are suitable for this. There are collectible copies, the purchase of which you pay VAT. It is not refundable. This is suitable for those who want to make a gift or to replenish their collection. But there is an opportunity to make a profit on them. Such coins are issued by the Central Bank annually, in series. You can make good money only by purchasing those that are released in small editions. They will be especially popular among collectors.
Find out how to buy gold, in the form of ingots.Buying gold bars is only profitable if you can sell them much more expensive. Consider the subtleties of their acquisition in Sberbank of Russia.
After the “Rules for the conclusion by banks of the purchase and sale of precious metal ingots with individuals” were approved, investments in gold became understandable and accessible. This Regulation describes the following nuances:
- all operations must be carried out exclusively in the presence of the buyer;
- the scales must be located so that the buying citizen can personally control the process of weighing gold bars;
- weighing is carried out with an accuracy of 0.01 grams;
- Only bars that are poured in accordance with the standards of the Russian Federation are subject to purchase;
- ingots should not be contaminated;
- Documents on confirmation of their origin in the form of passports and certificates issued by the manufacturer must be attached to them;
- upon purchase, cash documents must be drawn up, which indicate:
- type of metal;
- ingot price;
- total number of ingots purchased;
- date of purchase;
- amount for the entire purchase.
The correctness of the entire paperwork process is ensured by Sberbank of Russia.
There is also the question of how to buy gold in bars without paying VAT. This is done when opening a metal account, as a result of which the ingots are not taken out of the bank’s vault. Such operations are described in the law of the Russian Federation "On Value Added Tax" under number 1992-1 of June 6, 1991.
The purchase of gold bars can be carried out only upon presentation of any document proving the identity.
Rules for the sale of bullion
Leading banks in Russia have the legal right to develop and approve their own rules for the sale and purchase of gold bars. They describe in detail the condition of the ingots that meet the standards of integrity and contamination.
- Gold bars of excellent condition should have a perfectly clean surface. Without scuffs, scratches and foreign matter. Have clean and whole factory certificates.
- Measured gold bars of a satisfactory condition may have contamination and minor damage to the surface, which do not affect the weight, and also have logos of other credit organizations.Certificates of the manufacturer of such ingots may be damaged, have labels and contamination that affect the ability to view the text contained in them.
- Sberbank does not buy gold bars with damaged certificates of the manufacturer, which are not subject to their reading, and also not having any at all. In addition, Sberbank does not buy gold if the shape and weight of the ingots do not meet State standards, and if external damages affected the weight of the specimen.
Now you know how to buy gold to invest your savings in it. Successful to you investments and always follow the course.