The ruble has become the fastest growing currency. Photo: Roman Merzlyakov
The easiest way savings deposits are known to all. But often banks offer to buy precious bullion or coin, saying that it’s a great way of investing. Is it really so? To the questions “RG” said the first Deputy chief GU of Bank of Russia in the Central Federal district Vladimir Knish.
Vladimir Knysh: Many banks offer customers to become investors and buy ingots from precious metals.
You can buy, for example, gold in small bars from 1 g to 1000 g, silver – from 50 g to 1000 g, palladium and platinum, from 5 g to 100 g.
The Bank client can say that it is the simplest and easiest way to buy precious metals, but are silent about the fact that he’s not the most profitable.
The fact that gold bullion is recognised under the law of property, and therefore, the sale they are subject to value added tax, that is, buying them from the Bank, you will have to pay an additional 18% of the nominal value of the metal. But if you are going to sell your bullion to the Bank, you will have to pay 13% income tax from the received income.
It turns out to just cover costs, it is necessary that the ingot added to the price at least 20%, which does not always happen even for a year.
That is, the bars can be a way of saving for the long term, and to contact them for another year, obviously, impractical. And precious coins?
Vladimir Knysh: Coin coin strife. The issuance of coins made of precious metals in our country involved in the Bank of Russia. Sell such coins to the population of the credit institution. The coins offered by banks can be divided into two groups: commemorative and investment.
Commemorative coins are produced in a quantity from few pieces to several thousand units and is dedicated to the anniversaries, events, cultural objects, political and sporting events, etc.
The price at which banks sell these coins above their face value, as it consists not only of the value of precious metals and production costs, but also takes into account the demand for these coins, and the costs of the banks. Therefore, the benefit of using them as a means of investment may depend on many factors.
Another thing – bullion coins. They are issued by the Bank of Russia of copies, several times the circulation of commemorative coins, so the value to collectors is not present. Their price is mainly determined by the amount contained in them of precious metals.
The biggest drawback – metal accounts are not subject to the law on Deposit insurance
The most famous investment coins – the so-called “gold coins” 1975 and 1982. Each coin contains 7,742 grams of pure gold 900-th sample. Or “Sable” is the silver coin issued in 1995 denomination of 3 rubles, containing 31,1035 g of silver of 925-th sample.
The Bank of Russia annually will issue an investment coin “George the victorious”, made in two versions: silver and gold.
Also in Russian banks to buy foreign bullion coins such as English sovereigns”.
Buying bullion coins are convenient in that they now find many banks that along with the sale of coins can offer people their redemption. The price set by the Bank on the basis mainly of the value of the metal at the time of redemption. The cost of the investment coins from the time of issue in circulation can significantly increase.
What is a metal?
Vladimir Knysh: Today, many banks offer so-called open metal account. It allows you to purchase precious metals in the depersonalized kind, and the physical metal.
To remove precious metals from the metal accounts at any time with no limit on the amount in rubles or in the form of ingot. Operations on purchase and sale of precious metals account holders are based on daily quotations. As a “currency” metal accounts can be gold, silver, platinum, palladium.
Metal accounts are divided into two types: accounts of responsible storage and Unallocated metal accounts.
Opening the escrow account, the client provides the Bank with its available bullion in storage. Each ingot has certain characteristics: number, Proba, weight, manufacturer, etc. In turn, the Bank undertakes to return the client’s bullion on demand.
The account of responsible storage can also provide the ability to transfer metal to another account specified by the customer or use as collateral when obtaining a loan. But it cannot be used as a tool to generate income, as it does not involve the accrual of any interest. On the contrary, the customer must pay the Bank for storing their precious metal. The escrow account is intended for savings available to the investor in physical bullion, and the Bank simply guarantees their safety.
Depersonalized metal account many banks in their advertisement compared to foreign currency Deposit.
Vladimir Knysh: the Similarity is really great, only metal is added to the account is not in monetary units and in grams. For the purchase of virtual grams of metal you will need a passport and the money you plan to Deposit. The main advantage of Unallocated metal accounts is the ability to close it at any time. That is, the investor has the ability to respond quickly to current market situation: in the fall of quotes to get rid of become distressed metal assets, while a sharp rise in prices is beneficial to close a precious contribution, receiving income.
It is also important that the cost of an Unallocated precious metal does not include costs associated with bullion production, storage and transportation, and the relative stability of cash metal accounts is much easier than to sell the bars (no need to verify their authenticity).
Unallocated metal accounts also are of two types: current (demand) and term (Deposit). A current account gives you the opportunity to earn on growth of quotations of the metal. For example, if you bought a thousand grams of gold, and in a month the cost per gram of metal has risen, you can contact the Bank where you opened the metal account, to make a sale and earn income. Urgent account suggests that the virtual grams of metal will be stored in the Bank a certain time and therefore in addition to the growth in the value of the asset you as a contributor and get more interest income.
And there you have depersonalized metal accounts, especially the “pitfalls” about which the investor should be aware of?
Vladimir Knysh: the Most significant drawback – metal accounts are not subject to the law on Deposit insurance, respectively, are not subject to the guarantee of Deposit insurance system. It is also worth remembering that when selling metal, you must submit a Declaration of income and pay income tax (13% for residents of the Russian Federation).
By the way
14 coin of base metal face value of 5 rubles issued in “city – the capital of the States liberated by Soviet troops from Nazi invaders.” On the reverse side of the coins there are images of monuments to soldiers – liberators of Kiev, Vilnius, Tallinn, Riga, Bucharest, Budapest, Belgrade, Berlin, Minsk, Chisinau, Warsaw, Bratislava, Vienna and Prague. The circulation of coins of each kind – 2 million units.
This gesture of the Central Bank of the Russian descendants of those released were perceived ambiguously. In Ukraine, for example, began the cries of “svidomo” in social networks, and the representative of the Lithuanian foreign Ministry even issued a special statement on the Soviet “occupation.” And although investing in these coins is unlikely (with a special numismatic value they have), given the hysteria of some of our neighbors, they may be of interest as a curiosity.
Elena Grekova
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Photo: cbr.ru
