How much does a silver bar cost in Sberbank today?

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Selling a coin to Sberbank is not difficult - this is one of the most accessible services. At the same time, there is no need to waste time collecting information about collectors living nearby and rummaging through thematic forums. It is enough to obtain information about the types of rare coins currently being purchased by Sberbank. Depending on the region of residence and time, the list of monetary denominations purchased by the bank may change. It is impossible to predict exactly what exactly people will buy from the population tomorrow. This is explained by the fact that the bank is not always interested in the same type of coins. When a certain number of specific denominations are reached, bankers begin to buy others. That is why it is important to regularly monitor the updated list of purchased copies according to the data provided by the central banking office.

Prices for gold and silver bars at Sberbank

Prices for measured and standard bars of gold and silver in Sberbank of Russia. The cost of precious metal bars in the catalog is indicated for Moscow. In other cities of Russia it may be slightly different.

In order to buy gold, silver, platinum or palladium bars of 999.9 purity, you must contact one of the central offices of Sberbank in your city.

Exchange price for the year in US dollars:

Dynamics of gold exchange quotes over the past year in rubles and dollars:

Source

US futures quotes

Metals Futures prices as of June 9th, 2021 — 04:04 CDT

Size and weight of bars from Sberbank

When purchasing a precious metal bar, you need to decide what size it will be, since this determines its total cost. The following fact should be noted: the cost of one gram of metal varies depending on the volume purchased. Thus, when purchasing a small ingot, the cost of precious metal per gram will be significantly higher than the price of one gram when purchasing a large ingot.

However, when purchasing a large volume, there is a risk in the promising future, which consists in the difficulty or impossibility of selling it and receiving funds. The buyer must clearly understand that when purchasing a large bullion, he can gain in price, but lose if he needs to sell the property.

Also, when investing in precious metal bars, you should decide what physical parameters it will have and who the manufacturer is. Information about all these points is contained in special documentation, which any credit institution must provide. At the same time, all accompanying documents must be stored in a safe place, since they are the legal basis for the property owned by the owner, just like ordinary documents for an apartment or car. A transaction for the sale of bullion can only be carried out if all documents are available, and their loss will lead to the inability to sell your property in the future.

Types of silver bars

Silver bars have a fineness of 999. This means that per 1000 units of the alloy there are at least 999 units of pure element. They are produced at refineries according to international quality standards established by the London Association of Precious Metals Market Participants.

There is a State Standard in the Russian Federation, which determines the permissible deviation in purity, size, and weight. Products that do not comply with Gosstandart are not allowed to be sold and are sent back for re-melting.

An interesting fact: in nature, silver is practically never found in the form of nuggets, like other precious metals. More often it is extracted from ore, usually mixed with lead. Silver is a light metal. When the ore is smelted, it rises and is collected in buckets from above. The refining company carries out the final purification by electrolysis, resulting in a precious metal of maximum purity, which can be purchased.

According to the manufacturing method, silver bars are divided into cast and stamped:

1. The first ones are obtained after the molten metal poured into molds has solidified.
2. On the second, markings are applied using press stamping.

In addition, bars are divided into measured, standard and gift.

Banks and credit organizations that have received a license from the Central Bank of the Russian Federation to conduct such operations have the right to sell and buy them.

Regardless of the form of release, the silver bar has the following markings:

• try;
• designation of precious metal;
• serial number;
• weight in grams/ounces;
• year of issue.

In addition, each ingot is accompanied by a certificate. It contains information about the manufacturer, type of precious metal, nominal weight in grams, fineness or percentage of pure metal, serial number.

Standard

These are bars of precious metals of the highest standard, produced and labeled by a refining company in accordance with current industry standards and GOST standards of the Interstate Council for Standardization, Metrology and Certification.

You can buy standard silver bars, whose weight ranges from 28,000 to 32,000 grams. At the request of the customer, the bars can be cast in a different mass. The metric standard must be at least 999.

For standard bars, the only possible manufacturing method is casting. The finished product must not have:

• burrs;
• plaque;
• grease stains;
• influx;
• slag inclusions.

On the surface, stripped areas up to 3 mm deep and concavities up to 5 mm caused by metal shrinkage are acceptable.

Measured

Measured ingots differ from standard ones in their lighter weight - up to 1 kg, and the purity of the alloy is 999.9. Silver measuring bars are made in weights of 50, 100, 250, 500, 1000 g. The markings are the same as standard ones. They are produced by casting or stamping.

Is it profitable to invest in silver bars?

Such investments pay off in the long term. Taking into account the margin (the difference between the buying and selling rates), short-term investments are ineffective and fraught with losses. According to experts, the price of silver will rise.

The world's reserves of silver are larger than other precious metals, but its production volumes are also greater. It takes about 10 years to develop and open a silver mine. Moreover, it is a finite resource. The metal has unique properties and is widely used in various industries - automotive, medicine.

All these factors determine the constant demand for silver, which means the profitability of investments in the long term.

Forecast

There are special economic formulas for predicting market behavior, but, as practice shows, even Nobel laureates in the field of economics are not always able to determine the behavior of the silver rate. To date, expert opinions in forecasting prices for 2021 differ significantly:

1. Analysts at Evromonitor Int believe that the rate of one troy ounce will be about $16 US.
2. American experts are more optimistic and predict prices in the range of 17-18 dollars.
3. The English bank HSBC believes that the silver rate will rise to $18-19 per troy ounce in 2021.
4. Weather analysts on the financial and cryptocurrency market “Cryptoprognoz” suggested an increase in the exchange rate to $24 US per ounce.

Pros and cons of this type of investment

The list of advantages of investing in silver includes the following points:

• affordable cost (you can invest even with a small initial capital);
• consistently high demand due to resource depletion;
• independence of the asset from economic crises and inflationary processes;
• wide range of applications (jewelry, electronic parts, catalysts for chemical reactions and much more).

Disadvantages include possible price stagnation. This means that the cost can remain at the same level for quite a long time - several or more years. You won't be able to get a quick return on investment. I would not recommend buying silver with all your available funds. But it would be reasonable to invest a certain part, say up to 20-30%, in silver, at least to diversify risks.

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Where can I buy bullion

Precious metals in bullion are sold in banks. To carry out purchase and sale operations, a financial organization acquires a license from the Central Bank, as well as a specially equipped storage facility and trained specialists. Sberbank is considered the leader in the banking market of precious metals.

Conditions and process for purchasing bullion at Sberbank of Russia

You can buy measuring bars in a bank weighing 50-1000 grams; if they have gift wrapping, then 100, 250, 500 grams.

The acquisition procedure at Sberbank is as follows:

1. Check availability and price.
2. Provide the bank employee with an identification document.
3. The silver is weighed in the presence of the client.
4. Deposit money.
5. Receive the bullion, purchase receipt, certificate.

Documents confirming ownership

When purchasing bank silver, individuals receive a certificate for it and cash documents. The receipt contains information about the name and purity of the metal, the number and weight of the ingots, their serial numbers, the price per gram, and the total amount to be paid. The cash document will confirm when and to whom the metal was sold.

The correct execution of all papers when selling bank metals is the responsibility of the bank. The buyer should keep all documents received during the transaction:

• confirm ownership of the asset;
• necessary to calculate taxes upon resale.

Taxes on the purchase and sale of bullion

When selling a precious metal that has been owned for less than 3 years, an obligation to pay personal income tax arises. Personal income tax of 13% is paid on the income received from the sale of silver.

How to store bullion

You can store purchased silver at home or enter into an agreement with a bank that provides similar services and has certified storage facilities.

I advise you to choose a financial institution not based on the principle of where silver is cheaper, but based on reliability. Precious metals in storage and unallocated metal accounts are not considered deposits. In case of bankruptcy or deprivation of a bank's license, they are not covered by the law on deposit insurance. This is dangerous due to partial or complete loss of your savings.

If you decide to store silver at home, it is better to equip a safe or cache for this purpose. It is important to protect assets not only from intruders, but also from possible damage. Scratches or stains that appear will significantly limit the ability to sell the metal.

Recommendations for care, cleaning and storage

Products made from 875 silver alloy have a long service life and are practical. However, maintaining the attractive appearance of jewelry, tableware or accessories is possible only if a number of conditions are met:

• It is recommended to store silver jewelry in cases, and cutlery and dishes in parchment paper;
• to prevent items from turning black, avoid humidity (for example, do not wear jewelry when going to a bathhouse or sauna, or swimming in ponds);
• You can avoid deformation by removing jewelry during sports or active physical work;
• remove rings or bracelets when cleaning at home so as not to damage them with aggressive household chemicals.

Even if all storage and use rules are followed, silver items darken and lose their shine over time. You can restore the original appearance using improvised means and folk methods. The most effective is cleaning with a solution of ammonia and soap, baking soda, tooth powder or crushed chalk.

Ingot sales procedure

You can sell bank silver if you have an identification document, a certificate and a purchase receipt. Ingots in good condition, without stains or damage, are accepted. The information on the certificate must be readable. The procedure for accepting silver bullion does not involve testing in a laboratory or testing with chemicals.

Bullion in a jar

If the silver is stored in a safe deposit box, in order to sell it, you need to provide a rental agreement for the safe, a passport, and a certificate for the precious metal. A bank employee examines the bullion and formalizes the procedure for removing it from storage.

After preparing a receipt for the purchase, money can be issued in cash or transferred to a current account.

Ingot in hand, purchased from another bank

A bank specialist will conduct a more detailed inspection. For sale you will also need to submit documents:

• passport;
• certificate;
• purchase receipt.

Weighing and evaluation of the ingot is carried out in front of the client. The prices for physical silver in-hand and in the custody of the bank are the same. The price may be reduced if the condition of the ingot is unsatisfactory or the certificate is unreadable.

Also watch a video about how they put a stamp before sending it to storage:

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