How to buy a silver bar in Sberbank of Russia

Investment in bullion is one way of investing temporarily surplus funds. Moreover, banking metals are more valued. Read more about how and on what conditions you can buy a silver bar at Sberbank of Russia, read on.

Benefits

Investors who want to save their money can buy a bar of silver. Such an investment is characterized by a high level of liquidity and profitability, but only in the long term. Allocate standard and measured silver ingots. They are made by casting, stamping or electrolysis.

Before investing, you need to consider the following specifics of investments:

1. A silver ingot that complies with state standards should contain metal without impurities. The highest quality metals are marked Good Delivery.
2. Investing in precious metals helps protect savings from depreciation as a result of inflation.
3. A purchase and sale transaction can be concluded in any country in the world. The investor is not dependent on the results of the bank, because precious metals are valued everywhere.

Acquisition

The process of buying precious metals is simple and innovative approach.

Documents are executed in the presence of the client. Absentee registration of the transaction is not allowed. For paperwork, the client only needs a passport.

The sale procedure includes the mandatory weighing of metal on the scales. In this case, the buyer should see the result with his own eyes. Weight determination is carried out with an accuracy of 0.1 grams (silver) and 0.01 grams (gold).

You can only purchase a measured bullion through Sberbank. Silver with obvious traces of contamination is not allowed for transactions. It must first be cleaned.

The metal purchase and sale agreement must be supported by the manufacturer's quality certificate. It is also important to compare the obtained weighing data with the information entered in the certificate.

The entire operation is carried out through the cashier. The settlement documents clearly record the weight, number, sample and number of ingots. The receipt also indicates the date of the transaction and the amount of the transaction. A metal purchase and sale transaction is executed by an acceptance certificate.

Prices

Different quality metals can be purchased through Sberbank. Silver, like gold, is constantly changing in price. That is, you can also make money on investments due to fluctuations in market value. The current price of silver in Sberbank is presented in the table below.

Some establishments sell very small ingots weighing 1, 5, 10, and 20 grams. The price of metal depends on the weight of the ingot itself. The larger it is, the lower the cost of one gram. The price of precious metals is also affected by the exchange rate of the national currency and the official quotation of the Central Bank. Quotations in a particular financial institution also depend on the price at which the bank purchased the metal. Very often there is a situation when, against the backdrop of a market decline in value, the financial institution continues to hold a high quote, not wanting to record losses from the sale of metal at low prices.

Specificity

Do not forget that all operations with precious metals are subject to VAT at a rate of 18%. Investing in silver, the price of which is indicated in the table above, allows you to make a profit, but subject to the correct calculation of profitability. You need to wait until the market rate rises by 20% in order to only pay back the investment. Breaking a contract ahead of schedule should only be in very urgent need.

It’s not worth keeping a purchased bullion at home. Especially for such purposes, banks offer the ability to store metal in a special cell. For her rent will also have to pay money. But it’s better to be safe anyway. If there is the slightest damage, the price of a silver bar will decrease.

Foreign metal

A distinctive specificity of credit institutions in working with silver is the division of bullion into “ours” and “alien” silver. The price of metal, in particular, depends on where it was purchased. Today, silver out of 30 out of 70 credit institutions that have received a license for this operation are actively working with silver. Only 20 of them really study the metal market. But in Russia the “alien” metal is still acquired, albeit at a discount and only after examination. But in Ukraine, banks refuse to buy bars of other credit institutions. Four large institutions are exclusively engaged in the sale of ingots without the possibility of its reverse sale.

Metal demand

The most popular product on the market is a silver ingot weighing 100 grams. The larger the piece of metal, the lower the price of one gram. Accordingly, the most expensive is an ingot of 1 gram, and the cheapest is considered a kilogram ingot. The price begins to decline from the mark of 250 grams. But such an ingot is inconvenient to operate in view of the large difference between the purchase and sale prices. Another important point: when buying metal weighing more than 100 grams, the bank must identify the customer. Small bars can be purchased without identification as a gift to their relatives.

Demand is higher, the lower the weight. It is usually 10%. That is, if immediately after the purchase there is a need to sell the ingot, the market price will already be reduced by 10%. And if you add to this the mandatory VAT, the amount of expenses will increase even more.

The price of a silver bar also depends on how it is made. Stamped metal costs more. It is better to sell a bullion of silver to the same bank in which it was bought. The "native" metal is usually set at a high price, and expertise required when purchasing third-party metal is not carried out. And the question is not even the cost of the service, but the time spent on its implementation.

Storage

Bank ingots (especially with a low weight) must be packed in a continuous non-opening plastic or polyethylene fully or partially transparent case. Sometimes there are even gift wraps of various types. It is also important to check with the bank whether the type of case affects the repurchase of metal at any lending institution. The fact is that some banks redeem bullion only in a certain package or in its original case.

In the same way that damage to an ingot affects its price, so damage to a case affects its liquidity. According to bankers, the ingot loses its appeal. A credit institution may refuse to buy it at all or reduce the price to 20% of the market. If the bank buys such an ingot, in any case, he will need to find an opportunity to sell it. Some credit institutions generally in such cases offer to buy metal at the price of scrap. In the best case, the client will be offered to conduct an examination at his own expense, and only after that a price will be formed.

Metal alternative

Less common in the metal banking market are palladium and platinum. You can buy them far from every bank. The market price is about two times higher than for gold, and the spread exceeds 50%. The payback period for such investments is at least 5 years.

Another metal alternative on the market are precious coins. Their main advantage is collectible value. Silver and gold coins of small weight with a unique design are appreciated in the metal market. They are much better protected from fraud, so there are practically no fakes on the market. The cost of coins depends on the face value and coinage. In their manufacture, jewelry stones are sometimes used in addition to metal. You can purchase these products not only in a commercial bank, but also in the Central Bank.

Investing in coins is a privilege for collectors. To make money on operations, you have to wait more than three years. Tangible profits from the sale of coins can be obtained in 5-10 years after purchase. In the first two years, the bank buys coins at a discount from the sale price. Another important point: when selling coins, it is necessary to provide a contract of sale.