Gold, due to its high value, has always symbolized wealth. The economy of the modern world is not stable, and the exchange rate in it often changes very much - because of this, people are afraid that at one moment they may be seriously devalued, and this will lead to the loss of savings accumulated with such difficulty. To invest more reliably and not worry anymore, you can transfer part of your savings into gold. After all, gold is the opposite of currency - it prospers when the currency is bad and falls when it is good, which means that by investing half in currency and half in gold, you will reliably insure yourself against financial losses: one way to do this is to invest money in gold in Sberbank.
Investments in gold with the help of Sberbank
Since 2008, the price of gold has doubled, which emphasizes the reliability of this investment method.
Article navigation
- How to invest money in gold at Sberbank
- Commemorative and investment coins
- Ingots
- Unallocated metal accounts (OMS)
- What type of deposit is better to choose?
- Is it profitable to invest in gold at Sberbank?
- Operations with gold in Sberbank
- How to buy
- How to sell
- Conclusion
A significant portion of Russians open deposits with Sberbank. Depositing gold in the country's main financial institution provides a high degree of confidence in the safety of funds.
Find out how to make money on a metal deposit at the Savings Bank of Russia from this article. Also, read about comparative characteristics of other types of investing.
Investment prospects
Investing money during a crisis in gold is an effective protection in times of financial turmoil. It is safest to invest in gold. In such situations, you can easily increase your capital. The most important positive quality of these investments is protection against inflation. However, profitable investment occurs only when the investment is long-term, and not for a month or two.
How to invest money in gold at Sberbank
Metal deposits have some features that require detailed explanations. The general banking rule applies: the more stable the account currency, the more modest the accrued annual interest. An increased rate is always a payment for risk.
The gold and foreign exchange deposit, which is preferred by the conservatively-minded part of the clientele, is characterized to a greater extent by the desire to preserve savings in the long term than to receive short-term income. For this reason, the world has developed the practice of establishing the lowest dividends on metal deposits. In some cases they are not paid at all.
Today, Sberbank does not provide interest-bearing gold deposits for individuals. In other words, the rate is zero, and profitability is provided only by the difference between the purchase and sale prices. It can be both positive and negative. If gold goes up in price, there will be income, but if it goes down, the client will suffer a loss.
Statistics from recent decades give reason to believe that precious metals are gradually becoming more expensive, but this process is happening very unevenly. Prices peaked in 2011, when in the wake of the global financial crisis a massive need for reliability arose. Then came a period of decline, and to this day the prices of gold, silver, platinum and palladium have not reached their previous levels.
There is currently an increase in precious metals prices, and analysts are confident that this will continue.
Sberbank offers three ways to invest in gold.
- Purchase of measuring bars. Metal blocks packed in a blister are supplied with a passport certificate. The minimum denomination is one gram, the maximum has a kilogram weight. It should be borne in mind that the weight unit will cost less, the heavier the ingot.
- Purchase of collectible (commemorative) and investment coins. They differ in design. Commemorative coins are minted in honor of certain events, historical figures, architectural monuments, works of art and even rare animals. An investment coin has a nominal value, and its market price increases over time, due to its uniqueness and the increase in the exchange rate of precious metals.
- Opening an impersonal metal account. Similar to a deposit, but has features that will be revealed in the article a little later. Briefly about compulsory health insurance: the deposit currency is grams of gold, not monetary units. You can get an idea of the state of the account by multiplying the specific gravity by the current market value.
Each of the listed methods of making money on precious metals has its own advantages and disadvantages. Let's look at them.
Commemorative and investment coins
The undoubted advantage of gold coins is the absence of VAT in the price. The value added tax for them has been abolished in order to enhance the investment attractiveness of these products.
The selection of these investment items is huge and quotes are available daily.
The difference between investment and collection coins is manifested in the aesthetic features and uniqueness of the specimens, determined mainly by the mintage of the issue: it happens that it is calculated in a few units. Age also matters.
Despite the abundance of foreign numismatic items, experts recommend giving preference to domestic coins (for example, “St. George the Victorious” and “Chervonets”).
An important feature that significantly determines the value is the condition of the surface and the quality of the coinage (“proof” and “uncirculated”). During the period of ownership, you should treat the purchased item with extreme care and, if possible, avoid even touching it. Despite the chemical passivity of gold, it still oxidizes, forming a patina. Due to this circumstance, the buyer is deprived of the pleasure of holding the value in his hands (unless the touch of a special case is counted as such).
Only extremely rare specimens allow minor defects without compromising marketability.
Sberbank annually sells more than a million gold coins, which indicates that there are people willing to invest in them. The advantages of such metal investments are obvious, but they also have serious disadvantages:
- Wide spread. This means that the bank makes purchases and accepts them at significantly different, sometimes almost double, prices (of course, in its favor). In addition, there is an official five percent margin of the Central Bank of the Russian Federation.
- Storage problem. It is not recommended to keep such expensive items at home, much less carry them with you, and renting a safe deposit box is not cheap.
Summarizing the information presented, we can conclude that it is advisable to invest in numismatic valuables as an object of long-term hoarding in anticipation of their future increase in price. Currently, coin quotes are not showing growth.
Ingots
You can invest in precious metals in one more physical form. A private person has the right to purchase an almost pure chemical element Au of the 999th purity at Sberbank or other financial institutions that have a special license.
Unlike a coin, a precious metal bar does not have any collectible value. This is a typical metal hoarding item purchased in the hope that the price will rise.
Sberbank offers several standard sizes of bars and plates with different weights, from one gram and heavier. Bullions are available to “gold investors”. Anyone can become one. Metal sales and purchase quotes are published regularly.
Upon acquisition, the investor pays VAT. Since the investment is long-term, it makes sense to carry out a counter operation only after several years.
A citizen intending to purchase gold bars from Sberbank must be familiar with the current rules:
- You must present a passport or other identification document.
- The presence of the buyer is mandatory during the transaction.
- The ingot is weighed with an accuracy of at least 0.01 g and undergoes external inspection.
- The product is accompanied by a certificate that duplicates all the data indicated on the surface.
- When transferring the bullion, an act is drawn up and a cash receipt is attached to it.
In all other respects, the procedure for purchasing coins and bars is similar.
The current cost of bullion bars “for today” and for the last week is published on the official websites of banks. The metal holder is recommended to monitor price changes in order to objectively assess the effectiveness of the investment using the charts.
Unallocated metal accounts (OMS)
Compulsory medical insurance is an alternative to transactions with physical precious metals. At Sberbank you can open a gold deposit and become the owner not of an ingot or coin, but of a certain number of grams.
This method of investing has an undoubted advantage: it eliminates the problem of storage. At any time, the client can receive funds belonging to him in cash or metal at the established rate. In addition, the purchase transaction is not subject to VAT.
The disadvantages are common to all metal accounts:
- Firstly, there is no deposit insurance. The risk is associated with the possible bankruptcy of a financial institution, but in relation to Sberbank of the Russian Federation it is minimal.
- Secondly, no annual interest is accrued on a gold deposit, which makes it less profitable compared to other types of deposits. However, this minus can be compensated by the benefits of a sharp increase in quotes.
How to make a profit: quote and spread
The spread is the difference between the buying and selling prices of a precious metal. This is how Sberbank determines the amount of profit for itself when assigning the value of Au. Initially, the price set by the Central Bank of the Russian Federation is taken, and it is slightly changed in order to increase profits. The cost of gold is formed individually - by each bank separately, but it is still tied to the official rate. The markup is always different, as is the spread.
Such changes affect the client’s earnings. The spread can be 10-15%. In addition, with this method of investment, profit will always depend on quotes - changes in the exchange rate of precious metals, which is determined by the market, the volume of gold production and other factors.
If an investor purchases valuables at one price, he must sell them at a much higher price in order to benefit for himself.
What type of deposit is better to choose?
All three listed methods of investing in gold can be conditionally considered financially equivalent according to the following criteria:
- the investor cannot count on current dividends;
- all hope for profit is connected with the future rise in price of the precious metal;
- The acquisition of gold, physical or “paper”, takes a long time.
The options demonstrate approximately the same profitability, but when choosing between bullion, coins and compulsory medical insurance, their specifics should be taken into account.
If an investor is a numismatist, then he can, with a certain probability, predict an increase in the value of some coins, taking into account not only the weight characteristics, but also the collection value.
Storing bullion at home is only possible if you are confident that your home is reliably protected from the risks of theft.
The conditions for placing a gold deposit in Sberbank PJSC may change in favor of the client if quotes on world markets show steady growth. In this case, there is a chance that dividends will be paid, albeit small. True, the gold account will have to be reissued.
As for the entry threshold, it will be the highest for coins. The minimum weight of an ingot is only one gram, and even a person of modest means can purchase such an amount.
The smallest step of a gold transaction at Sberbank is only 0.1 grams. The minimum deposit for opening a compulsory medical insurance is one gram. It is difficult to imagine a coin with such weight.
It should be borne in mind that investing in precious metals is advisable only when investing a significant amount, measured in tens, hundreds of thousands and millions of rubles.
Conditions for opening compulsory medical insurance
When concluding an agreement to open a compulsory medical insurance, the currency “gold” is indicated. Its size and cost are determined at a specific moment. Each bank independently determines its operating conditions, and quotes are approved twice a day.
It is thanks to this that you can choose the optimal moment to open a deposit and get much more profit. Although some banks are ready to offer individual conditions. But for this, the volume of gold purchased or sold must be at least 50 grams, depending on the bank.
Is it profitable to invest in gold at Sberbank?
So far, investments in precious metals cannot be considered very profitable. Discussions about whether it is worth buying gold need to be supported by the dynamics of its price, and it currently shows low stability. There is reason to believe that this instability will continue in the near term. The following facts give the benefit of the doubt:
- The consequences of the global financial crisis have not yet been overcome. This means that the needs of industry, including jewelry, will increase, if at all, not very quickly.
- The reputation of the “yellow devil” as a means of saving and accumulation has been significantly damaged due to the rapid drop in quotations that occurred after 2011. People who invested their savings in the precious metal and were forced for various reasons to sell their assets suffered losses. Their example (as many people think) is a science for others.
- Sberbank's zero interest rate on gold deposits does not in any way stimulate the opening of compulsory medical insurance.
However, citizens, after weighing all the pros and cons, persistently buy coins and bars. Compulsory medical insurance is also in demand. This leads to the conclusion that they consider such transactions profitable. There are reasons:
- Despite a significant drop in quotes, they have already begun their rise.
- Gold reserves on the planet are limited.
- Sooner or later, the stagnation of the world market will be replaced by a revival.
- If we do not take into account the previous decline, over ten years the price of the most popular precious metal has still increased tenfold.
Ultimately, investing in gold will be profitable. As the French saying goes: “the patient gets everything.” There's just no need to rush.
Operations with gold in Sberbank
The country's largest financial institution creates the most convenient conditions for its clients to purchase gold in all its forms: coins, bars and compulsory medical insurance. It is simple to carry out transactions with precious metals: if only there was money.
How to buy
To open a deposit, you need to come to a Sberbank branch with your passport and inform the manager of your desire. The client will be provided with a standard contract for review. You need to read it carefully so that there are no surprises later. Here are the nuances you should pay special attention to:
- Gold is purchased at an inflated price.
- The account holder must be at least 14 years old, but the person will have the right to dispose of the asset on the day he or she comes of age.
- It is possible to register a metal deposit for another person (son, daughter, grandson, etc.)
- It is allowed to have several gold accounts opened for one person.
- The rules provide for the possibility of transferring compulsory medical insurance to another person.
It's even easier to buy coins and bars. To do this, you need to take your passport (identity card) with you and have a sufficient amount in your account or in cash. A citizen has the opportunity, at his discretion, to leave the purchased physical metal in the bank for safekeeping or take it with him. Yes, it is better to choose a coin in advance and find out if it is available.
The precious metal product is accompanied by a sales receipt and a certificate. It is strongly recommended that you save these documents. Firstly, you will need them when selling a bar or coin. Secondly, numbers and other characteristics are duplicated in the accompanying papers, which simplifies their identification in case of theft. It is better to store certificates at home separately from physical gold.
How to sell
One literary character said that before climbing somewhere, it is useful to think through escape routes. How you can sell gold to Sberbank is written on the official website of the financial institution. The holder of the precious metal must:
- make sure there is no damage that could affect the weight of the product;
- attach the manufacturer's certificate;
- take your passport with you.
You can find out at what price the bank buys gold (in this case, bullion) in advance by making inquiries using this link.
With coins the situation is both more complicated and simpler. They are accepted by the financial institution at the cost indicated in the catalog, which theoretically takes into account the numismatic value of the specimen. At the same time, Russian legislation does not regulate the turnover between collectors in any way, and they can sometimes pay more. Unlike trade in bullion, these transactions are not prosecuted under the Criminal Code of the Russian Federation, but are associated with other risks. For example, the buyer may turn out to be a fraudster.
It is safer to hand over a gold coin on the terms under which Sberbank accepts them, attaching a check and a certificate.
You can withdraw funds from the gold compulsory medical insurance partially or completely close the account. With the money received, the client has the right to purchase a metal product or take the amount in rubles at any time.
Requirements for depositors
To purchase gold bars and coins, you must go to the department dealing with precious metals with your passport. Investors in metal accounts can be:
- persons over 18 years of age with a passport;
- parents or legal representatives of a child under 14 years of age upon presentation of a passport or birth certificate, if the child is not included in the passport;
- teenagers from 14 to 18 years old with written permission from a legal representative.
You can issue a notarized power of attorney to another person to manage a metal account. If the account is opened for a minor, then not only a power of attorney is required, but also the notarial consent of the legal representative. Expense transactions on accounts for a child under 14 years of age require permission from the guardianship authorities.
