Investing in gold: how and where to invest? Investment in gold pros and cons Investment gold bars.
The tradition of keeping your capital or its significant part in gold equivalent is quite ancient, but it does not lose its relevance. Why is gold? Indeed, in nature there are other metals, more expensive and rare. Humanity has preferred gold for several reasons:
- the metal is not subject to oxidation, does not darken;
- has a high density, therefore it is quite heavy (and weight affects the price);
- the ability to exchange for any of the currencies used in the world.
Gold bars, types and characteristics
What are gold bars? Bars of precious metal, differing in weight and shape.
According to the manufacturing technology, gold bars are divided into:
- stamped - made by cutting from solid flat sheets;
- cast - made by pouring into molds.
The weight of the ingots is 1, 5, 20, 50, 100, 350, 500, 1000, 12000 grams.
Large bars weigh up to 12.5 kilograms, but this is more an industry standard than used for private investment in gold.
From the point of view of a private investor in Western countries, gold bars, along with coins, play an important role in the process of investment diversification. They are slightly cheaper than gold coins (the difference is about 1%), but they are less protected from counterfeiting. do not contain complex artistic elements typical of coins.
In Russia, the situation is completely different. The purchase and sale of bullion, in contrast to coins, is subject to value added tax (18% of the price). This can be avoided only if the ingot is bought in a bank and left there for storage. This feature practically puts an end to the circulation of gold bars in our country. Experienced investors use gold bullion coins to invest in physical gold.
Where and how to buy gold
Instability economic situation makes you look at gold with different eyes, even those who previously trusted only banknotes. To perceive precious metals exclusively as jewelry is now irrelevant and incorrect. It is not they who will help to get out of a difficult material situation, but gold in its physical form - best of all in gold investment coins.
Gold prices tend to rise in the medium to long term.
You can buy gold both in a bank and in a company that buys and sells gold investment coins. Anyone can make a purchase individual.
When choosing a seller, you need to focus on two factors:
- optimal price;
- physical presence.
Do not hesitate to call the contacts found and ask if the gold prices presented on the site are up-to-date, and whether the required amount of the precious metal is available. With perseverance and patience, the buyer has a chance to purchase cheap gold not from his hands, but in a specialized institution.
Parameters influencing the price
As mentioned above, due to VAT, a gold bar in Russia is a priori more expensive than a gold investment coin of the same weight (provided that you want to pick up your purchase and store it yourself).
But there are a number of other pricing features for gold bars and coins that need to be considered:
1) Whether the seller deals with gold coins or gold bars professionally. If this activity is just one of a wide range of services, it is likely that you will have higher prices, small stocks and not always professional staff.
2) If we talk about coins, then it is most profitable to buy gold investment coins specially designed for investing and preserving funds, which are traded with a very small markup to the price of gold and can easily be sold back with minimal losses.
These coins include domestic coins of St. George the Victorious and Chervonets Sower, as well as foreign Kangaroo, Philharmonic, Maple Leaf, Krugerrand, Panda, American Eagle and Bison (Buffalo), Britain.
3) Safety of gold coins and bars. When buying, pay attention to the absence of scratches, dents and other defects on the purchased product. Gold is a very soft and ductile metal, therefore it is necessary to store gold coins and bars very carefully. It is highly discouraged to take coins and bars with bare hands; use special gloves. Remember that a scratched coin or bar immediately loses value significantly.
4) The mass of the purchased ingot or gold coin. As a rule, the market operates next rule- the more weight, the lower the price per gram. But at the same time there is back side medals - the higher the weight, the more difficult it is to sell a gold coin or gold bar.
Ingot vs coin
When looking to invest in gold, a potential capital investor implies a benefit. Investment quality and future income directly depends on the form of investment, so it is worth considering which is preferable for the safety of funds: ingots or coins.
Investing in bullion is convenient for very large investors, but they also feel some problems when selling the yellow metal. The need to sell the entire ingot if necessary to sell a small part of it is one of the disadvantages of such an investment. Thousands of market participants are eager to buy gold cheaply. And they will have such a chance if the seller is forced to give up the massive bullion at a low price.
Buying gold investment coins will help insure yourself against an unenviable situation. In fact, a coin is the same ingot, only of a cylindrical shape and minimal weight. Its value lies in the metal from which it is minted.
Coins, like bullion, have certain gold finishes, their price varies from several to hundreds of dollars, they are ideal as a commodity in a familiar situation when money is urgently needed.
Coins are necessary for the convenience of buying gold - small packaging is more profitable and much better protected from counterfeiting, so the demand for coins is much higher than for bullion.
It is impossible not to note the tangible material difference when choosing between two methods of investing in gold:
- coins are not subject to VAT, and this is not such a small amount - 18% of income;
- in case of a successful (or not so) sale of the ingot, the tax will have to be paid.
Where to put the gold?
Gold in any form (coins or bars) should not be kept at home if there is no confidence in their complete safety. Home safes are not as reliable as we would like. Mechanical damage is not excluded, automatically transferring gold to the status of satisfactory, that is, cheap.
In order not to develop in oneself the Kashcheev habit of wasting away over gold, it is advisable to store the precious metal in safety deposit box... Then the owner will only have to keep track of the prices of gold bars and wait for the moment for the most profitable sale.
Investing in precious metals has long become one of the most common species notonly preservation, but also capital augmentation. A huge advantage of investing in gold is the stability of the pricing in the market. It is known that in times of crisis, gold remains a safe haven where investors transfer their investments to preserve them.
During such periods, the cost of the metal rises sharply, as all others are depreciated. financial instruments. During periods sustainable development the economy, the value is also gradually increasing, but not as fast as during periods of crisis.Unlike other modern financial instruments- precious metals, in particular gold and silver, have always been valued.
Investment in gold
In the pre-crisis period, in terms of income, this investment in comparison with shares and commodity assets were, one might say, so-so. Because gold does not pay dividends, and short-term investing is pure speculation. Plus, prices can be quite volatile. No one even thought of this product as a safe haven, when in early 1980 it cost $ 800 per troy ounce, and two years later, $ 300 per ounce.
However, no matter what happens to the prices, this metal is always good. long-term investment. Common sense suggests that the price will never fall to zero. Many experts agree that gold cannot fall below $ 950-1000 since this is the cost of production and it will not be profitable to continue mining.
The price of gold is set by world exchanges, and it is customary to express it in American dollars per triple ounce (33 grams). It is worth noting that the price of gold, from 2000 to the present, has increased sixfold, which testifies to the enduring value of this precious metal.
From the beginning of 2013, gold began to fall and the decline continued until early 2016. Then the price dropped to $ 1050 per troy ounce. In 2016, the price recovery began, and many played on this, as the well-known Buffett at that time bought $ 20 billion worth of gold. Now the price has formed a corridor from $ 1100 to $ 1350 and is now near the upper border.
Where and how to buy gold
There are several options for investing in gold. The most popular among the population is the purchase of jewelry, in addition to the price component, they also have aesthetic value.
However, the downside of buying jewelry is that they are bought at a price that takes into account the price of the precious metal and the cost of making the item, which can often be comparable to the cost of the precious metal.
We can say that this is the most inappropriate investment in gold., since the sale of jewelry usually takes place at a scrap gold price, which is significantly lower than the cost of jewelry.
Only 999 fineness is considered investment gold.
Investment in gold coins
The situation is similar with gold collectible coins. The cost of manufacturing in the component of the price of the coin is significant. This leads to a high difference between the purchase price of coins and the price of their possible sale.
The Central Bank of Russia has issued special investment coins. Partner banks carry out their sale and buyback on their own set prices... Investment coins are also sold by some financial institutions, for example Alpari... However, it should be noted that the margin between the buy and sell price is usually also significant (about 15-25%). With such a high margin, investing in coins can only be profitable if you invest in them for long periods.
- The advantage of buying coins is that, according to the law, these operations are not subject to VAT.
- But the spread will be around ten percent.
- And when selling, all the same, you will need to pay personal income tax
How to buy gold bars
One of the most liquid commodities on the market is bullion.
Most of the domestic banks carry out their sale and purchase. The difference between the purchase and sale prices usually does not exceed 5%. At the same time, at certain time periods, there are cases when the cost of buying gold bars in some banks is lower than the cost of selling in others, but this happens extremely rarely.
Bars are also a good tool for medium-term investments. It should be noted that the price of a gram directly depends on the weight of the bar. In heavier bars, the cost per gram is higher and the margin between buy and sell is low. It is more profitable to buy bars weighing more than 30 grams.
- However, during such a purchase, we will be forced to pay VAT. because of this, the effect of investing in bullion is significantly reduced. And the bank also holds a large spread, about five percent.
Among other things, by purchasing gold bars and investment coins, you need to carefully handle the packaging, because in case of damage, you will have to undergo an examination, for which you will have to pay. Having bought coins and bars, they need to be stored somewhere; if kept at home, they can be lost as a result of theft, fire or natural disaster. For storage in a bank, you will be charged about two thousand rubles a year, which is extremely unprofitable, if not a large amount.
Depersonalized metal accounts
Therefore, at the last time, they are very popular
unallocated metal accounts (OMS). You come to the bank with money and open a metal account, where the money is converted into ounces of metal. Depersonalized metal account is not the most profitable way of investing, as it does not, in fact, provide for the ownership of precious metal, but only provides agreements with the bank to link the account with the dollar exchange rate at the time of the agreement.
- When selling metal and closing an account, you must pay personal income tax
- Also, insurance does not apply to OMS in the event of a bank closure,funds will be lost.
This investment option should be chosen when you are confident in the reliability of the financial institution.
How else to invest in gold
You can buy gold futures on the exchange, here is the lowest spread ... And this is perhaps the most liquid way, since you can sell or buy at any moment, during the work of the exchange, without leaving your home, via a web terminal. This can be done with the help of a stock broker. Finam or forex broker Alpari.
E in one of the ways highly profitable investment may not be directly investing in gold itself, but buying securities of gold mining companies, which can bring good dividends to the depositor. But this option can be considered if the investor thoroughly knows and owns information about gold mining companies and has available analytics and other materials. You can buy shares using the Finam stock broker. You can also buy various "gold" ETFs.
Also, modern opportunities allow you to buy gold in virtual form:
- For example, an account with a broker Alpari Gold Nominated (GLD). This requires open an account from a broker and replenish it with any in a convenient way any currency. Then the funds are transferred to a gold account, thereby converting them. The advantage of this type of investment is the ability to invest your gold in or PAMM portfolios nominated in GLD. In addition to the rise in the price of gold, its quantity is also growing. This is how I keep my gold.
- Electronic payment systems WebMoney (WMG) andPerfect money (GOLD Troy oz.) Allows you to create accounts denominated in gold. So 1 WMG equals 1 gram of metal, and 1 GOLD Troy oz equals 1 troy ounce (that's 33 grams). By the way, Perfect Money charges 4% per annum on the balance on a monthly basis, so storage in this EPS looks more attractive. But in both of them it is more profitable to keep gold than on the OMS, since you do not need to pay a commission to banks.
We can conclude that this asset is a reliable investment option in times of crisis and a rather profitable option for long-term investment. However, when choosing this instrument for investment, you need to understand that prices, like other market instruments, can vary significantly. Therefore, you should not consider buying precious metal as a guaranteed preservation of your capital. An investor must take into account all the pros and cons of investing in gold and make a decision only on the basis of his conclusions and goals.
Investing in gold bars
For attachment Money there are many tools that allow you to preserve and increase your capital: investing in bank deposits, stocks, bonds, shares investment funds... With such investments, there is a risk of losing your money or the income received will be devalued by inflation.
But there is such an investment option, which has shown its strength over the years - this is an investment in gold, or rather, in gold bars. These attachments can become your "personal pension fund"Or capital, which you will pass on by inheritance. Today, this is not the most common way of saving savings among our population.
Before you buy gold bars
First, you must determine for yourself the amount that you are ready to invest.
Secondly, you need to determine how much of these free money You are ready to invest for a short period - up to 1 year, and what - for a longer one. What amount are you ready to “forget” about for several years, and maybe even decades.
Experts advise that no more than 15% of your capital should be invested in gold bars.
Options investment in gold there are several on the precious metals market: bullion, coins and unallocated metal accounts.
Each option has its own pros and cons.
Consider the benefits of investing in gold bars:
- Gold is always, in all countries is a value... It does not get cheaper, but in times of crisis, on the contrary, rises in price. The demand for this precious metal exceeds the supply. Therefore, gold retains and even increases its value, regardless of any events in the world economy.
- Gold is valued all over the world because it is a rare metal. Its reserves in the world are not very large. Not as much gold is mined as it might seem. For the entire period of gold mining, mankind has mined no more than 135 thousand tons of yellow metal. If it were possible to melt it into one cube, then the edge of this cube would be no more than 18 meters. Gold in all countries of the world has been a means of payment throughout history in the Central Bank developed countries redefined the role of gold and stopped selling it. Most of all gold is bought by China and Russia in order to reduce dependence on the US dollar. Russia buys an average of 18.6 tons of gold per month. Having a gold reserve can help balance a country's financial system.
- Gold - does not corrode, does not lose its properties over time, does not interact with other chemicals, beautiful, reliable metal. Clean gold is a very soft material that can be easily deformed, most often used in the jewelry industry.
- Gold is widely used in many areas of our life, especially in dentistry (for the manufacture of dentures). The advantage of gold products is that they are completely harmless to humans.
The combination of these properties allowed gold to become a material that is so highly valued all over the world.
The gold bar is a profitable investment option. By itself, it is a commodity, it necessarily has a sample, depending on which its value is established. Today the price of gold is declining slightly, but, as history shows, it will start to rise again over time. Gold will never depreciate, and this fact should be decisive for making a decision to invest in gold bars.
Banking gold bars can be more than just a profitable option for investment. When buying a gold bar, you can sell it, donate it, or inherit it. The advantage of investing in this precious metal over investing in securities- you get rid of the need to monitor stock quotes on the stock exchange every day. But this is only if you invest seriously and for a long time.
Advantage over deposits - investing money in gold bars will allow you to save savings from inflation and financial crises, and get income. But keep in mind that buying a gold bar will not give you a quick income. The price of gold is constantly fluctuating, but not as much as, for example, exchange rates or the value of securities.
As confirmation, we present data on the dynamics of gold prices for the period 2000-2017 (in dollars per troy ounce):
Year | Minimum | Maximum | Average | Average price growth in% to the previous year |
---|---|---|---|---|
2000 | 263,8 | 316,6 | 279,11 | NS |
2005 | 411,1 | 536,5 | 449,74 | 161,13 |
2010 | 1058,0 | 1421,0 | 1224,53 | 272,27 |
2015 | 1050,6 | 1301,55 | 1158,66 | 94,62 |
2017 | 1151,05 | 1356,26 | 1257,53 | 108,53 |
As of April 18, 2018, the gold price is $ 1,355.30 per troy ounce.
Accordingly, the discount price of gold in Russia also changes.
By forecasts analysts, the price of gold in the period from 2018 to 2021 will increase, and in 2022 it will begin to decline again (in dollars per troy ounce):
- April 2019 - 1442,
- April 2020 - 1394,
- April 2021 - 1475,
- April 2022 - 1324.
Pricing factors
The cost of a gold bar depends on the price of gold per gram, the weight of the bar and its technical condition.
The price of gold per gram in our country is set by the Central Bank. This is known as the valuation price.
Gold quotes from the Central Bank of the Russian Federation reflect the price of pure 999 gold per 1 gram.
Reference gold prices central bank Russian Federation installs daily.
The cost of one gram of gold is based on the world price per ounce.
Under the concept of "ounce of gold" in the modern world means a troy ounce of gold weighing 31,1034807 gram. Historical name " troy ounce " comes from a French city Trois(fr. Troyes), located in the Champagne province, which hosted international trade fairs in the 12-14 centuries.
The official world gold price worldwide is expressed in US dollars per troy ounce. A fixed price per troy ounce of gold is set on the London Metal Exchange twice a day. This is the so-called London fixing, which sets the price of gold.
It is hosted by representatives of the five largest UK banks - players in the precious metals market. The price is set based on supply and demand, in three currencies: dollars, euros and pounds sterling.
When calculating the discount price of the Central Bank of the Russian Federation, the value determined by the London fixing is converted from dollars per ounce to rubles per gram by dividing by 31.1034807 (the number of grams in one troy ounce), and then multiplied by the officially established ruble-to-US dollar exchange rate in effect on the next day for the day the accounting price was set. At the same time, the book price of the Central Bank of the Russian Federation is not the basis for purchase and sale transactions.
The value of a trinity ounce in the gold market depends on various factors.
Basically, these are two main groups of factors: economic and political.
Economic:
- the level of the state of the world economy,
- economic crises in individual countries,
- behavior of large consumers of yellow metal.
Political:
- political crises in individual countries,
- the general international situation, the presence of political and military conflicts,
- politics of large states.
Currently, the change in the price of gold is influenced by military conflicts in Ukraine and the Middle East (in particular, Syria, Iran).
Economic factors, in turn, are divided into exchange and over-the-counter ones.
Exchange factors include:
- gold and foreign exchange reserves of countries affecting world economy(how much gold the national bank of a particular country sold or bought in the previous period);
- speculative transactions in the gold market;
- changes in the value of shares in gold mining enterprises;
- investor expectations;
- the value of the US dollar.
OTC factors:
- the volume of world gold production (a shortage of production causes an increase in demand, which increases the demand for gold and its price);
- cost of gold mining (for last years exploration costs for gold-bearing areas in Africa have increased several times, in Latin America, for example, 4 times);
- the volume of world gold consumption;
- interest in the jewelry industry (in conditions financial crisis the demand for gold is declining, followed by prices);
- seasonality (different consumption of gold throughout the year).
All these factors together lead to surges in prices not only for raw materials, gas, oil, but also for precious metals.
Since the beginning of 2018, the price of gold has been above the psychologically important level of $ 1,300 per ounce. Over the past few weeks, the price of gold has tried to get out of the level of 1350-1360 dollars, but it did not work out.
Military conflicts usually have only a short-term impact on the dynamics of gold prices. Financial and political problems in the world have a much more stable influence on the formation of gold prices. Under these conditions, the price of gold is growing steadily.
The ongoing conflict in Syria can lead to an increase in the price of gold only if it negatively affects the entire global economy.
The cost of an ingot made of precious metal, in addition to the price per gram, also depends on its weight and technical condition.
It can be excellent or satisfactory, there is additional packaging charge.
Gold bars can have different values even when they contain the same amount of precious metal.
In addition to the global reasons that affect the price of gold described above, the value of gold bars is influenced by:
- Ingot production technology. There is a price difference between stamped, cast and powder ingots. The former are the most expensive, while the latter are the cheapest.
- Availability of appropriate certificates. Gold bars are always accompanied by a certificate, which contains the most important parameters of the bar. If the certificate is lost, no bank in the world will buy such a precious metal. In such cases, the only way to sell the gold bar is to take it to pawnshops.
- Ingot manufacturer. It can only be produced by a refinery. Such enterprises are located in some regions of Russia, as well as in many other countries. In the event that the name of the manufacturer is unknown or unreliable to the buyer, the price of the gold bar may be reduced.
The London Bullion Market Association (LBMA) has accredited 63 refineries. They annually produce approximately 150,000 gold bars (each weighing 400 ounces) and a total value of US $ 102 billion.
In world practice, certain quality standards have been adopted for precious metals. They are approved by the London Bullion Market Association (LBMA) and are known worldwide as the London good delivery standard.
Each ingot must have a certificate.
A bar with a London good delivery certificate has the following requirements:
The weight of each bar is expressed in troy ounces and is a multiple of 0.025 ounces. Pure gold ranges from 350 to 450 troy ounces (10,886 g to 13,754 g).
The most important indicator is the purity of the metal. It must contain at least 995 parts of chemically pure gold for every 1000 parts of the ligature mass.
They must be indicated: serial number, manufacturer's stamp, sample and year of its manufacture (for ingots produced since 1988). The surface should be flat, smooth, and its shape should be easy to carry / transport and store.
Where to buy gold bars
Any citizen can buy gold in gold bars on the territory of our country.
The safest way to buy gold bars is at a bank that has a special license to deal with precious metals.
Banks carry out the purchase and sale of gold bars, storage of precious metals in the bank's vault under an agreement, redemption of bars.
The Central Bank of Russia has issued licenses to a number of commercial banks giving the right to operate with precious metals. Only in such banks (there are more than one hundred and fifty of them in the Russian Federation) you can buy gold bars.
In fact, not all banks that can do this are involved in the sale of gold bars.
The banks that carry out transactions for the sale and purchase of gold bars today are Sberbank, Gazprombank, Rosselkhozbank, VTB Bank, SMP-Bank, Lanta-Bank, MDM-Bank and some others. Sberbank is the undisputed leader.
To buy a gold bar, you need to call a specific bank and find out in which bank branch you can carry out this operation.
Each bank sets prices for gold bars independently, but is based on the prices set by the Central Bank of the Russian Federation.
Since the gold is specially processed, certain costs are required to manufacture the ingot, and the cost of a 1 gram gold bar will be slightly higher than the bank quotes on the present day.
To find out how much a gold bar costs in a bank, you need to find out the price per gram on the bank's official website or in other sources on the Internet. The heavier the ingot, the cheaper the price per gram will be. It is most advisable to purchase bars of the middle weight category, from 10 to 100 grams. Small bars are relatively cheap; very large bars are expensive.
If you are going to invest in gold bars for the long term, then it is better to buy a medium bar by weight. The price per gram will be cheaper than a small bar, but it itself will be cheaper than the one that weighs heavier.
In Russia, measured gold ingots weighing 1, 5, 10, 20, 50, 100, 250, 500 grams are in demand more than others. You can buy standard, small, weighing 1 gram, 5 grams, 10 grams and 1 ounce, as well as large ones - from 11 to 13.3 kg.
Abroad, the weight of bars is from 1 gram of gold to 10 kg. In troy ounces - from 1/31 to 400 troy ounces.
The procedure for the sale of precious metals in Russia was first carried out on the basis of the Decree of the Government of the Russian Federation of June 30, 1997 No. 772 "On Approval of the Rules for the Execution of Transactions by Banks of Purchase and Sale of Precious Metals Bars", and is currently regulated by the Bank of Russia Regulation No. 50 dated November 1, 1996 . "About the commission credit institutions operations with precious metals on the territory of the Russian Federation and the procedure for conducting banking operations with precious metals. ”
According to the manufacturing technology, gold bars are divided into cast, stamped, and powder bars. Stamped ingots are more expensive in terms of production method and are in great demand, weighing up to 500 grams. Cast ingots are produced by casting into finished forms, therefore their weight is usually more than 500 grams. Powder ingots are produced electrolytically from powder, the cheapest, but they are not provided for by Russian standards.
By types of gold bars are measured and standard. Measured gold bars can be cast and stamped, while standard bars can only be cast. Banks sell mainly dimensional stamped ingots.
— Measured ingots manufactured according to Russian standard GOST R 51572-2000 and represent bars weighing up to 1 kg, have a sample of 999.9. Such bars must be marked by weight and manufacturer, and are used for the purchase and storage of gold by the population.
Requirements for measured ingots relate to parameters, shape, size, marking. Ingots should be free of dirt, scratches. Deformation of the ingot is allowed, because gold is a soft metal. On the surface of a standard ingot, stripped spots up to 1 mm deep are possible.
Mandatory markings on domestic ingots: this is the name "Russia", weight in numbers, the name of the metal - "Gold", fineness or fraction, manufacturer's mark, registration number of the ingot.
Table of gold bars according to GOST R 51572-2000
Ingot designation | Macca, g | Dimensions, mm | ||
---|---|---|---|---|
Denomination | Limit deviations | Length | Width | |
СШЗ 1 | 1 | +0,03 | 12,0-15,0 | 7,0-9,0 |
SSh3 5 | 5 | +0,04 | 22,0-25,0 | 13,0-15,0 |
СШЗ 10 | 10 | +0,05 | 24,0-29,0 | 13,5-17,0 |
СШЗ 20 | 20 | +0,05 | 29,0-33,0 | 15,0-19,0 |
SLZ 20 | 20 | +0,05 | 23,5-27,0 | 11,5-13,0 |
СШЗ 50 | 50 | +0,06 | 36,0-48,0 | 21,0-28,0 |
SLZ 50 | 50 | +0,06 | 30,5-32,0 | 16,0-17,0 |
СШЗ 100 | 100 | +0,06 | 54,0-56,0 | 31,0-33,0 |
SLZ 100 | 100 | +0,06 | 40,0-43,0 | 20,0-23,0 |
СШЗ 250 | 250 | +0,08 | 79,0-81,0 | 46,5-48,0 |
SLZ 250 | 250 | +0,08 | 52,0-64,0 | 29,0-32,0 |
СШЗ 500 | 500 | +0,10 | 98,5-102,0 | 58,5-60,0 |
SLZ 500 | 500 | +0,10 | 80,0-86,0 | 35,0-38,0 |
SLZ 1000 | 1000 | +0,10 | 105,0-116,0 | 48,0-52,0 |
The letters "Ш" and "Л" in the designation of ingots reflect the method of their manufacture.
The thickness of ingots is not standardized by GOST. GOST allows the production of ingots and other sizes as agreed between the manufacturer and the customer.
— Standard Ingots manufactured in accordance with Russian GOST 28058-8. They are used in industries for melting into other items: wire, jewelry, parts, microcircuits. Standard gold bars are available in weight from 11 to 13.3 kilograms. Requirements for standard ingots are less stringent: parameters (by agreement), shape (truncated pyramid), flaws up to 5 mm deep are allowed. But the ingots should also be free of dirt and scratches. The marking is present on the lower base of the ingot pyramid and includes: gold grade, registration number, ingot weight, sample number, manufacturer's identifier, year of manufacture.
To purchase gold bars, you need any of the identity documents: incl. passport of a citizen of the Russian Federation; passport of a citizen of another country; identification; military ID (while on urgent service); refugee certificate; seaman's passport.
When buying ingots, documents for the purchase of an ingot must be drawn up, incl. the buyer receives a manufacturer's certificate. For example, when buying a gold bar weighing 50 grams, the certificate will contain information about the metal, its fineness, weight, date of manufacture and the name of the manufacturer.
We draw your attention, so that there are no problems when selling bullion, it is better to buy gold bullions from recognized gold producers with a certificate, receipt and without "distinctive bank marks".
Purchased gold can be stored both at home and in the bank itself.
The bullion certificate must be kept as securely as the gold itself. Otherwise, if the certificate is lost, the bank may refuse to buy back gold, and in pawnshops or on the black market, the price of such an ingot will be significantly lower.
In banks, gold is issued in special containers; it is not recommended to touch it, so as not to leave traces on the ingot, which are very difficult to remove.
We also advise you to pay attention to the appearance of the metal so that it is free of scratches and other damage, as this directly affects its cost.
It is important to remember that the certificate must be stored with the same responsibility as the bullion itself, since if it is lost, the bank has legal right refuse to redeem gold.
It is also important to preserve it from possible damage, since in this case the bank can lower the cost of redemption of the bullion due to defects in the certificate.
The presence of a unique number allows at any time to trace the movement of each ingot from the manufacturer to the end consumer. If the certificate is lost, the ingot still has a stamp (trademark) of the manufacturer.
In addition, the manufacturer can use his own bar numbering. For example, “NV” means that the manufacturer is the Novosibirsk Refinery, “Kr” - for the Krasnoyarsk Non-Ferrous Metals Plant, “Ek” - the Yekaterinburg plant.
Comparative quotes for sales of gold bullion bars (from banks' websites):
Ingot weight, g | Quotes for the sale of measured ingots on the Sberbank website as of 17:50 (Moscow time) 04/16/2018, VAT included | Quotes for the sale of measured ingots on the Rosselkhozbank website at 18:10 (Moscow time) 04/18/2018 VAT INCLUDED | Quotes for the sale of measured ingots on the Gazprombank website at 18:10 (Moscow time) 04/18/2018, VAT included | Quotes for the sale of measured ingots on the website of the Bank Financial Corporation Otkritie at 10:40 (Moscow time) 04/17/2018, VAT included |
---|---|---|---|---|
1 | 3 704,00 | 3 720.00 | 4 259,48 | 4 019,00 |
5 | 17 458,00 | 17 100.00 | 18 478,65 | 17 065,00 |
10 | 34 680,00 | 33 850.00 | 36 017,70 | 33 491,00 |
20 | 69 006,00 | 67 200.00 | 69 529,80 | 66 026,00 |
50 | 171 631,00 | 167 000.00 | 169 126,50 | 162 673,00 |
100 | 342 200,00 | 332 000.00 | 335 121,00 | 324 707,00 |
250 | 853 789,00 | 825 000.00 | 829 972,50 | 807 780,00 |
500 | 1 706 516,00 | 1 647 000.00 | 1 652 115,00 | 1 613 965,00 |
1000 | 3 411 734,00 | 3 283 000.00 | 3 297 640,20 | 3 221 550,00 |
But, like any type of investment, buying gold bars has its own nuances. By Russian legislation a gold bar is a commodity and its value upon purchase is increased by the amount of VAT (18%). In addition, banks can set a commission for the issuance of gold in the form of bullion.
Storage of gold bars
Before buying a bullion, you need to decide where and how you will store it.
It is better to store gold bars with a certificate in the bank where you bought it, and, without taking it out of storage, conclude a lease agreement for a safe deposit box. The ingot itself is recorded on a metal account for safekeeping, and is in a specialized storage. In this case, you will save on paying VAT (18%).
A metal account for safekeeping is a client's account for accounting for precious metals transferred to the bank for storage, with the preservation of individual characteristics (name, quantity of values, sample, manufacturer, serial number, etc.).
But if the storage period is long, then the amount of the commission can be significant. Unlike VAT, which will need to be paid immediately, the commission can be paid under the contract during the storage period.
If you decide to store it at home, keep in mind that the ingot must be stored in a package, along with a certificate. The storage location must reliably protect the precious metal from possible damage and contamination. Any scratches and even fingerprints can reduce its value. The requirements for storing the certificate are the same.
Sale of gold bars
There are special rules for the purchase and sale of bullions of precious metals from the population by banks.
Each bank has the right to establish its own rules for the redemption of bullion from individuals, but all of them must comply with the law of the Russian Federation and the following conditions must be observed:
- All bars of precious metals must comply with accepted standards;
- All operations for the sale or purchase of bullion must be carried out in the presence of the client,
- When weighing gold bars, the accuracy should not be less than 0.01 grams;
- The scales must be located so that the customer who buys or sells bullion can see the information and confirm the correct weighing;
- All sales and purchases are processed cash documents... These documents must contain information on the number of bars, weight, name, cost, date of conclusion and total amount the conducted transaction.
If you are planning to sell gold, we advise you to find out all the conditions for its redemption immediately upon purchase. The fact is that not every bank that sells bullion is engaged in their buyback. And if he does, then only through certain branches of the bank. For example, Sberbank buys gold in the capital and in several other large cities.
If you sell gold that you bought in another bank, then you may be required to have an expert examination of the bullion. But usually bars with a certificate from another bank are evaluated lower than their "native" ones by recognizing the state of the bar and the certificate as satisfactory rather than excellent. This happens if the bank that sold them has left its "identification marks" on the ingots and on certificates: a stamp, a stamp.
Nobody will refund the VAT paid by you upon purchase (once the ingot is in your hands).
Therefore, it is better to choose a bank where you can both buy and sell bars.
There is also one more significant nuance: if you sell an ingot that you bought less than 3 years ago, then you are obliged to pay personal income tax (PIT) from the profit received at the rate of 13%.
To date, this service is ready to provide you, first of all, Sberbank, as well as Bank "FC" Otkrytie ", is ready to buy bullion regional bank Chelyabinvestbank. Information on this issue can be found on the website of a particular bank.
For comparison, here are the redemption prices for gold bars for two banks.
Purchase prices for measured gold bars in Sberbank as of 17:50 (Moscow time) 04/16/2018
Metal / Denomination, g | Purchase price of measured ingots, rub. / ingot | |
Satisfactory quality | excellent quality | |
1 | 2 505,00 | 2 525,00 |
5 | 12 525,00 | 12 565,00 |
10 | 25 050,00 | 25 120,00 |
20 | 50 100,00 | 50 200,00 |
50 | 125 250,00 | 125 370,00 |
100 | 250 500,00 | 250 650,00 |
250 | 626 250,00 | 626 450,00 |
500 | 1 252 500,00 | 1 252 870,00 |
1000 | 2 505 000,00 | 2 505 600,00 |
Purchase prices for measured gold bars at Otkritie Financial Corporation Bank as of 10:40 am (Moscow time) 04/17/2018
Metal / Denomination, g | Purchase price of measured ingots, rubles / ingot |
---|---|
1 | 2 571,00 |
5 | 12 856,00 |
10 | 25 712,00 |
20 | 51 425,00 |
50 | 128 562,00 |
100 | 257 124,00 |
250 | 642 810,00 |
500 | 1 285 620,00 |
1000 | 2 571 240,00 |
How else can you sell gold bullion? You can hand it over to jewelers in a jewelry workshop, bail it to a pawnshop and not redeem it, you can sell gold bullion to another individual. But here risks and additional problems can arise everywhere: examination costs, fraudulent actions from the other side, etc. You can not sell gold bars, but donate them to loved ones or inherit them. It is ultimately up to you to decide.
conclusions
Gold bars are profitable investment, but only for a long-term period of time, not less than 3 years. Buying bullion saves savings primarily from inflation. The cost of gold has generally been growing over the years, but the purchase of bullion brings substantial income to the investor when investing in significant amounts of gold or when investing in bullion for a long period of time.
Foreign exchange and government risks are not threatened by investments in gold bars.
The physical storage of the bullion should be trusted by the bank where the bullion was purchased so that the gold retains its technical characteristics and does not lose its value. The purchase and sale of gold bars should only be made through one bank.
In order to save on the payment of value added tax, immediately after the purchase, transfer the gold bars to the bank vault, but at the same time you must be ready to additional costs for the protection and payment of the cell in the bank's vault.
Historically, gold has been one of the most popular investment vehicles. Investors account for 30-40% of the total volume of gold purchases, and jewelers - 40-50%. In times of crisis, investors, hedging risks, increase their investments in gold, while in moments of stability the demand for jewelry grows, which prompts jewelers to increase their output. The combination of these factors makes the demand for gold stable and resilient, which enhances the precious metal's role as a capital preservation tool. At the same time, the variety of formats for investing in gold makes the choice not very easy. Let's try to figure it out.
Text: Ayrat Khalikov
The instruments for investing in gold can be divided into two groups: the direct purchase of bullion or alloy products and the purchase of derivatives based on the price of gold.
Gold bullion
Buying gold bars is the most traditional way of investing in gold to save money. About one thousand tons of gold bars are purchased annually in the world, which is 60% of the total investment in gold.
In Russia, individuals can purchase bullion from precious metals only within the banking system. Upon purchase, 18% VAT is added to the value of the ingot, and upon the sale back to the bank, VAT is not refunded to an individual. Payment of VAT can be avoided by leaving the bullion in safe custody at the bank. In Russia, this service is provided by a limited number of banks, since it requires special premises, expensive equipment, trained and certified personnel. In addition, the bullion that is in safe custody at the bank will eventually have to be sold to this particular bank, since if the bullion is removed from the bank, VAT will have to be paid.
In Russia, measured ingots weighing 1-1000 g, stamped in accordance with Russian GOST, and so-called standard ingots, cast in accordance with international standard LBMA Good Delivery bars weighing 11-13.3 kg.
The margin set by banks for bullion of precious metals depends on their weight. When selling ingots weighing 1 kg, the premium is 1.5–2%, while for bars weighing 1 g, banks' mark-up can be up to 14–33%. As a rule, the rates for the storage of ingots in banks depend on the duration of storage and the number of ingots and fluctuate in the range of $ 30-200 per ingot per year, regardless of its weight.
Russian citizens can also use the service of buying / storing bullion abroad, since there are no restrictions on such operations in the legislation. The most convenient way to purchase bullion is through the London Bullion Market Association (LBMA) system - bullion prices are determined as a result of exchange trading, and a small commission is charged for transactions. When buying a bullion abroad, it is best to leave it in a special vault included in the LBMA delivery list, or in the vault of a member of this association. This saves significant money, since there will be no additional costs associated with verifying the identity and origin of the bullion upon resale. The commission for purchasing a gold bar through the LBMA ranges from 1% to 1.5% (for a 400 oz / 12 kg bar) and up to 3% (for a 32 oz / 1 kg bar). The cost of storing the ingot in storage is 0.3–0.5% of its value per year.
The key advantage of specialized bullion vaults over banks is that they do not carry out financial operations, which can lead to bankruptcy, and insure the full value of the bullion. Placing ingots in vaults provides additional convenience to entrepreneurs, since this allows them to be used as collateral for lending to related organizations.
The main advantage of buying gold bullion is that this investment does not carry any banking or financial risks and is the cheapest physical metal investment.
The disadvantage of buying ingots abroad is that in case of importing ingots into Russia, the owner is obliged to pay VAT in the amount of 18% and duty in the amount of 20% (if the customs decides that the ingots are imported for commercial purposes).
It should be noted that at present in Russia the commissions for the purchase and storage of gold bars are lower than in the LBMA system.
Investment coins
Acquisition of coins made of precious metals is the second most popular investment method - annually about 300 tons of gold are used to make investment coins, which is 20% of all investments in physical gold.
The Central Bank of Russia mints coins from precious and semi-precious metals, which can also be used as an investment tool. In this context, the most interesting are coins with the status of "investment", since when purchasing them, an individual does not pay VAT. At the moment in Russian banks coins of gold, silver, platinum and palladium are available for purchase. The most popular is the "St. George the Victorious" coin with a gold content of 7.78 g.
Unfortunately, in Russia investment coins are sold with a significant mark-up: the supply price of the Central Bank is 7% higher than the price of gold in a coin, and the banks' mark-ups are 8-24% to the Central Bank price. For example, Sberbank, which sells half of its investment coins in Russia, sells the St. George the Victorious coin with a 33% premium to the price of gold in the coin, which reduces the investment attractiveness of such purchases. Such a high premium is due to the fact that the volume of demand for coins significantly exceeds the volume of their production. We believe that in the long term, with an increase in the turnover of coins, bank commissions will decrease to the world level. The advantage of investing in coins is that they can be stored anywhere and sold to any bank, provided that the integrity of the coin's packaging is preserved.
In world practice, at the moment, investment gold coin Krugerrand, which is issued in a very large circulation (46 million 1 oz coins), due to which its spot price is only 2% higher than the value of gold in metal. At the same time, the price of a coin in European banks is only 5–6% higher than the price of a coin manufacturer. This makes the coin an attractive tool for small investments. When importing foreign investment coins into Russia, the owner will also have to pay VAT (18%) and, possibly, import duty (20%) - by analogy with the import of bullion. A small number of coins can be imported as a souvenir without paying taxes.
Some coins also have collectible and historical value. The pricing of such coins is less dependent on the economic environment and is determined by the numismatic value.
Exchange Traded Fund (ETF)
Gold-linked certificates such as ETFs are traded on most stock exchanges as free as stock. Usually, one or 1/10 ounce of gold is tied to an ETF certificate, placed in a special vault. Each year, the funds charge a commission for storage, insurance of gold and various administrative expenses, which is 0.25 - 0.4%. The payment of the commission is expressed in a decrease in the amount of metal associated with the certificate. The assets of the funds are backed by real gold, which is in vaults, which determines the high correlation between the price of the fund's shares and the price of gold. ETFs, reflecting the growing demand for this instrument, buy 180-380 tons of gold every year.
The main advantage of buying ETF certificates, rather than bullion or coins, is that the buyer does not have to bear the costs associated with storing gold, and the high liquidity of the instrument ensures low purchase costs - usually the transaction costs do not exceed brokerage commissions on the stock market. ETF certificates are highly liquid instruments. For example, the average daily volume of transactions on certificates of the largest ETF SPDR (ticker GLD US) is $ 146 million (for comparison: the daily volume of transactions in shares on the Moscow Exchange is $ 850 million).
The growing popularity of investing in the gold market by buying ETFs has been a major driver of investment demand for gold since the early 2000s. The largest ETFs, such as SPDR, iShares COMEX Gold Trust and ETFS Physical Swiss Gold Shares, undergo financial audits by the world leaders from Big 4 two or more times a year, and the auditor Inspectorate International Limited completely recounts the amount of gold in vaults twice a year. ... The funds only keep cash in their accounts to cover administrative expenses and do not contain any derivatives. In this context, we can safely say that investing in ETFs is no more risky than investing in physical gold, while being cheaper than investing in coins and bars.
Depersonalized metal accounts (OMS)
The key advantage of OMCs is that they allow the investor to avoid the risks and costs associated with the transportation and storage of precious metal bars. OMS accounts record the amount of precious metal in grams, while some banks offer urgent compulsory medical insurance accounts, on which interest is charged in grams of metal - usually in the range of 0.1-2.5% per annum. Since banks do not purchase gold, they do not incur the costs associated with the purchase and storage of the precious metal, which makes this instrument cheaper. The main motivation of banks to participate in CHI programs is related to the fact that they attract money at rates 2–4 times lower than on deposits.
The key risk for the investor is that the OMS is not covered by the deposit insurance system: in case of bankruptcy of the bank, the depositor will have to wait for the delivery of metal or compensation for its value in money at the exchange rate on the day of bankruptcy in the general queue of creditors. The volume of liabilities on compulsory medical insurance accounts can be an order of magnitude higher than the collateral with physical gold. In the event of improper hedging of price risks, the bank can incur significant losses, which jeopardize the ability to fulfill obligations to customers.
Commissions for opening an account in Russian banks differ insignificantly and are in the range of 1–2.4% to gold prices in the Central Bank.
Investors in OMC benefit from taxation: income tax of 13% is paid only on the accrued interest, and not on the difference between the purchase and sale prices, as is the case with bullion and coins. Also, the depositor can withdraw funds from his account in the form of bars of precious metal by paying VAT and bank commission for the service.
Western banks also offer CHI with similar conditions. Their advantage is that they allow transferring OMS funds from one bank to another without intermediate conversion into currency. And although Russian legislation also allows transfers between OMS accounts, in fact, Russian banks do not provide such a service.
In the context of investments in compulsory medical insurance, the main task of an investor is to select a reliable bank with low spreads to precious metals prices.
Derivatives (gold futures)
Investing in the gold market through futures contracts (options and futures) is a relatively inexpensive but high-risk instrument. To make such investments, you just need to open an account on FORTS (a division of the Moscow Exchange) with any domestic broker.
The exchange trades settlement contracts that do not imply the delivery of the metal itself to the buyer. This determines the low cost of this instrument and the narrow spread between the buy / sell quotes. The low level of collateral allows transactions with a large "leverage" (up to 20 times the amount of funds on the account), which allows you to receive income with a small investment level.
The costs of purchasing futures are made up of the brokerage commission (1–2 rubles per contract), the spread between the purchase and sale price (0.01–0.05%) and contango (an additional 0.5–1.15% to the price of the underlying asset charged by the seller for deferring settlement of the transaction).
Disadvantage futures contract as a tool of investment in precious metals is a short term to maturity. The average range of investments in precious metals for conservative investors is 3 years, which means that an investor in futures will have to perform a rollover 11 times during this period (it is necessary to reinvest funds in a futures contract on the Moscow Exchange every quarter). As a result, the annual cost of investing in the gold market through futures can reach 5-6% per year.
Another disadvantage is the need to track collateral for contracts in near real time. The low volume of the gold futures market on the Moscow Exchange (the volume of collateral on the market for an instrument does not exceed $ 10 million) makes the instrument unsuitable for a large investor.
According to analysts, gold futures are more suitable for speculation and hedging price risks than for preserving value.
Gold mining shares
From time to time in the media there is a thesis that buying shares of gold mining companies can be a good bet on the gold market. However, upon closer examination, this statement looks too superficial.
The fact is that investing in stocks brings investors additional risks associated with the operating activities of companies. Various emergencies regularly occur at gold mines: mines are flooded, drilling equipment fails, and contractors delay the delivery of equipment. The largest gold miners in Russia (Polyus Zoloto, Polymetal, Petropavlovsk) repeatedly violated their production plans, which negatively affected their share prices. At the same time, investments in indices of shares of gold mining companies are less affected by the operational problems of individual issuers.
The general mood of investors on financial markets... With the deterioration of economic expectations, investors are shifted to government bonds and gold, thereby reducing their risks. As the market situation improves, interest in shares increases, which leads to an increase in their quotes. Thus, the shares of gold mining companies are simultaneously influenced by two oppositely directed vectors, which leads to the fact that the correlation between the prices of shares of gold mining companies and the prices of gold is low. This makes gold mining stocks a bad bet on the gold market.
Jewelry
The myth of buying jewelry in order to save value is very popular in developing countries... On closer examination, it becomes obvious that this idea is utopian. This is due to the fact that the price of a piece of jewelry is usually higher than the price of a precious metal in a piece, since the final price is added to the labor costs of jewelers (up to 50% of the final cost), store commissions and premiums for the brand. However, the resale does not take into account the artistic value - pawnshops buy jewelry as scrap at a significant discount to the original price, taking into account only the mass of the precious metal. In this context, it should be noted that the purchase of jewelry is justified only for its intended use - as a decoration.
It is also worth addressing the issue of investing in items of artistic and antique value. These investments are essentially not investments in precious metals, since their value is largely determined by the history associated with the subject.
Thus, summarizing what has been said, we can conclude that, within the framework of long-term investments in precious metals, the most interesting and cheap option is investment in the compulsory medical insurance of Russian banks, and in international markets - in ETF certificates. Investors who prefer to minimize risks are advised to purchase gold bars and place them in specialized vaults both in Russia and in the LBMA system.
The day before, I already wrote about options for investing in gold, which can be called virtual or electronic (read). I talked about gold futures, gold mutual funds, OMS, etc. This time, let's talk about investing in physical gold. Three areas can be distinguished here: gold bars, gold investment coins and gold commemorative coins.
Gold bars
If you imagine gold, then the first thing that comes to mind is just gold bars. Bars are unpopular in Russia. Mainly because of the 18% VAT on them. This tax, however, can be circumvented. To do this, when buying an ingot, for example in Sberbank, you simply leave it there for storage. But in this case, an investment in an impersonal metal account looks more advantageous. Some banks (Uralsib, for example) even pay interest on them.
Photo of the Bank of England Gold Bars Warehouse
pros
─ By purchasing an ingot, you are completely independent of financial system country. Even if the backbone banks of Russia begin to "burst" one after another, your savings will be preserved. After all, they are where you decide to store them - in a chest of drawers, a safe or under a layer of earth in the country.
─ In this format, your investments are tied precisely to the value of gold. Forget about the ruble exchange rate! The value of your bar is determined based on the exchange prices of a troy ounce. And there the unit of measurement is the dollar.
Minuses
─ There is VAT on bullion ─ 18%.
─ Potential sales difficulties.
─ Quite high spread between the buy and sell prices.
─ There is a question of secure storage.
The family's modest gold reserve. On the left - a 999-carat gold bar, 10 grams, on the right - an investment coin "Philharmoniker" 31.1 grams. (1 oz)
Gold investment coins
They compare favorably with ingots in that they are not subject to VAT. Although it is all the same physical gold. No special knowledge is required when buying investment coins. In Russia, the standard for a gold investment coin is George the Victorious (a quarter of an ounce). Worldwide standards are Philharmoniker (Austria), American Eagle (USA), Golden Maple Leaf (Canada), etc. (the most replicated sizes are "ounces", but there are coins weighing 1/2 ounce, 1/4 and smaller).
The main seller of gold investment coins in Russia is Sberbank. You may have noticed precious coins in the cash desks of their branches. The bank enjoys a leadership advantage and low financial literacy of the population, therefore their prices are the most unfavorable, especially with the redemption of coins.
Below I give the levels of buying and selling the gold St. George the Victorious of the Moscow Mint from the leading players of the capital market (the list is incomplete).
Note that the difference of 30-35% between the purchase and sale prices of Sberbank is the absolute norm. The table also gives the impression that the best purchase price is from Sberbank. Far from it. They have not updated the information on the site for a week. To do this, you need to call and drown.
Now let's weigh the pros and cons of investing in gold by buying investment coins.
pros
- As with bullion, you are completely removed from the Russian financial sector. Your money is "tied" to an ounce of gold, which is quoted in dollars.
─ Unlike gold bars, the supply market is much more competitive: without leaving your home, you can go to the websites of leading sellers of investment coins, compare prices and find the best offer.
─ Unlike bullion, there is no VAT here.
Minuses
- It is enough to take a coin without gloves and touch it well without a case, as its value will plummet. There is always some risk of spoiling the appearance of the coin. This can reduce its price by 10-20%.
─ Quite significant spread. If today you decide to buy a coin, and in a week you will have to sell it, even if the price of a troy ounce and the ruble exchange rate have not changed, due to the difference in buy and sell prices, you will lose about 10% in a week.
─ There is a problem of storage and transportation.
─ You need at least a little, but to understand this market. Before buying George the Victorious, you should at least "google" why this coin from the Moscow Mint is cheaper than from St.
Commemorative Investment Coins
For ordinary people, purely outwardly, investment and commemorative gold coins are indistinguishable. But this is far from the case. The calculation of the value of an investment coin is always based on exchange rate fluctuations in the value of a particular precious metal from which it is made. Correlation, in other words, the relationship, may be fuzzy, but it is always traceable. Commemorative coins are another matter. Initially, they have numismatic value. Over time, it can grow, and very much. And sometimes - to stay in place, only following the cost of a troy ounce.
In my opinion, this is the most complex view investing in physical gold, because without specialized knowledge, there is a high probability of making a big mistake. You will buy a coin, relatively speaking, for 100 thousand rubles. And tomorrow it turns out that the numismatic market overestimated it. As a result, it will drop to 80 thousand rubles, although the exchange value of gold has remained the same.
I am not telling you not to invest in commemorative gold coins. I say: first find a specialist who understands this. And it’s not so easy. For example, Konstantin Kasatkin, the manager of the TrueInvestor Coin Fund, specializes in the low-cost segment of numismatic coins of the Soviet and modern era. But he almost does not deal with coins from the times of imperial Russia. Or investment coins. Or commemorative precious coins ... All these are separate directions.
pros
Unlike bullion, there is no VAT.
In your hands, let it be in a numismatic wrapper, but real gold, which has value.
Aesthetic pleasure after all :) For example, I have long liked this French gold coin (see below). Over time - I will buy it.
Gold Coin of France Year of Astronomy. Year of issue - 2009. Denomination - 200 euros, 999-carat gold, weight - 1 ounce, circulation - 1000 pcs.
Minuses
You need to understand the segment of commemorative precious coins.
Risk of damage due to improper storage, transportation, handling.
High spread: much higher than for investment coins.
Problems with sales and liquidity may arise. Especially if you buy a kilo gold coin (if you can, of course), see below.
Commemorative gold coins "Judo", gold 999, weight 1 kg., Face value - RUB 10,000
As with investment coins and ingots, storage difficulties are possible: if there are a lot of coins, you need to take care of the safety of gold.
In complex business transactions, commemorative coins, unlike investment gold coins, cannot be used as collateral for short-term loans. Checked! :)
Gold jewelry
I will tell you separately about this type of investment in gold. I will not be original and say that I would not call buying jewelry an investment. You need to understand that the cost of a gold product includes a large added value, including store rental, product design, craftsman's work, etc. In addition, a gold ring or earrings are usually only 35-40% gold or maybe 70% gold. But this does not come close with coins or bars, where in the worst case the fineness (for modern coins) is 999.
Anyone who is fascinated by the topic of investing in gold may be interested in this book on the topic. It's called "All About Investing in Gold." Auto ─ John Jagerson and Wade Hansen. Publishing house ─ Mann, Ivanov and Ferber. I have not read it, but the reviews are not bad. For more information on the book, see.