How to buy a silver bar in Sberbank of Russia

2024 Author: Howard Calhoun | [email protected]. Last modified: 2024-01-17 18:37

Investing in bullion is one of the ways to invest temporarily free funds. At the same time, banking metals are more valued. For more information on how and under what conditions you can purchase a silver bar from Sberbank of Russia, read on.

Benefits

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

Before investing, you need to consider the following investment specifics:

1. An ingot of silver, which would meet state standards, must contain metal without impurities. The highest quality metals are Good Delivery.
2. Investing in precious metals helps protect your savings from depreciation as a result of inflation.
3. The sale and purchase transaction can be concluded in any country in the world. The investor does not depend on the performance of the bank, because precious metals are valued everywhere.

Acquisition

The procedure for buying precious metals is simple and unconventional.

Documents are drawn up 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 obligatory weighing of the metal on the scales. In this case, the buyer must 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 ingot through Sberbank. Silver with obvious traces of contamination is not allowed for transactions. It must first be cleaned.

The contract for the sale of metal must be backed up by the manufacturer's quality certificate. It is also important to compare the received weighing data with the information entered in the certificate.

The whole operation is carried out through the cashier. In settlement documents, the weight, number, sample and number of ingots are clearly recorded. The receipt also indicates the date of the transaction and the amount of the transaction. The transaction of purchase and sale of metal is formalized by an act of acceptance and transfer.

Prices

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

Mass, grams	Price of an ingot in a standard package, thousand rubles.	Ingot pricepackage, rub.	Purchase of metal in "satisfactory" condition, rub.	Purchase of metal in "excellent" condition, rub.
50	2, 03	2, 30	1, 22	1, 25
100	3, 93	4, 22	2, 44	2, 51
250	9, 06	9, 50	6, 10	6, 25
500	17, 46	18, 07	12, 19	12, 44
1000	34, 45	0	24, 37	24, 88

Some establishments sell very small bars weighing 1, 5, 10 and 20 grams. The price of the metal depends on the weight of the ingot itself. The larger it is, the lower the cost of one gram. The price of the precious metal is also affected by the exchange rate of the national currency and the official quotation of the Central Bank. Quotes 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, a financial institution continues to keep a high quote, not wanting to record losses from selling metal at low prices.

Specifics

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 have to wait until the market rate rises by 20% just to recoup the investment. Terminate the contract ahead of schedule should only be a very urgent need.

It is not worth keeping a purchased silver ingot at home. Especially for such purposes, banks offer the opportunity to store metal in a special cell. You will also have to pay money for its rent. But it's better to play it safe. If there is the slightest damage, the price of a silver bar will decrease.

Alien Metal

A distinctive feature of credit institutions in working with silver is the division of ingots into “ours” and “foreign” silver. The price of metal, in particular, depends on where it was purchased. Today, 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 the Russian Federation, “foreign” metal is still purchased, albeit at a discount and only after an examination. But in Ukraine, banks refuse to purchase bullion from other credit institutions. Four large institutions are exclusively engaged in the sale of bullion without the possibility of resale.

Demand for metal

The most popular commodity on the market is considered to be a 100 gram silver bar. The larger the piece of metal, the lower the price of one gram. Accordingly more expensivea 1 gram bar costs only, and a kilogram bar is considered the cheapest. The price starts to drop from the mark of 250 grams. But it is inconvenient to operate with such an ingot 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 is obliged to identify the client. Small bars can be purchased without identification as a gift to your 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 an ingot, then the market price will already be reduced by 10%. And if you add mandatory VAT to this, the amount of expenses will increase even more.

The price of a silver bar also depends on how it is made. Stamped metal is more expensive. It is better to sell a silver ingot to the same bank in which it was bought. A high price is usually set for the "native" metal, and the examination, which is mandatory when buying 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 bars (especially with small weight) must be packed in a solid non-opening plastic or polyethylene case, fully or partially transparent. Sometimes there are even gift wrappings of various types. It is also important to clarify with the bank whether the type of case affects the purchase of metal in any credit institution. The fact is that some banks buy bars only in a certain package or in their brandedcase.

Just as damage to a bar affects its price, damage to a case affects its liquidity. According to bankers, the bullion is losing its appeal. A credit institution may generally refuse to buy it or reduce the price to 20% of the market price. If a bank buys such a bullion, it will need to find a way to sell it anyway. In general, some credit institutions 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 the price will be formed.

Metal alternative

Palladium and platinum are less common on the banking metal market. You can buy them not in every bank. The market price is about twice that of gold, and the spread is over 50%. The payback period for such investments is at least 5 years.

Another metal alternative on the market is precious coins. Their main advantage lies in the collection value. Light weight silver and gold coins with a unique design are valued in the metal market. They are much better protected from falsification, so there are practically no fakes on the market. The value of coins depends on the denomination and minting. In their manufacture, sometimes jewelry stones are used in addition to metal. You can buy these products not only in a commercial bank, but also in the "Central Bank".

Investing in coins is the privilege of collectors. Tomake money on the operation, you have to wait more than three years. A tangible profit from the sale of coins can be obtained 5-10 years after the purchase. In the first two years, the bank buys back coins at a discount from the sale price. Another important point: when selling coins, you must provide a contract for their sale.