The word “gold” has been magic to people for many centuries; it is not some unknown palladium there. Silver is also good, but it will always be on the sidelines in importance and value. Agree, hold your own pure gold in your hands, and preferably heavier, it is so pleasant and exciting.
But why do people buy gold? Of course, not only in order to enjoy the pleasant feeling of owning gold, but first of all to receive additional income and, of course, to save your finances.
Features of the purchase of gold bullion
When buying physical gold, profitability will be determined by the difference between the purchase and sale prices. Here we must not forget about the bank spread, that is, the bank sells gold at one price, which it sets, but buys back at a lower price and earns on the difference.
In addition to the spread, there is also a value-added tax (VAT) – 18% of the cost of gold, which will have to be paid upon purchase. Since you are an individual, you cannot refund VAT upon the sale of gold.
You can avoid paying tax, but in this case, the gold will have to be left in the bank’s depository, having concluded a storage agreement. You will not physically see and hold your gold in your hands, but you will not pay VAT.
Of course, you will have to pay the bank a fee for the storage service, but there is another positive side – you won’t have to worry about the safety of the ingots. today gold rate in USD.
It turns out that if you bought gold and after some time sold (and the gold exchange rate remained at the same level), then you will lose on the bank spread and value-added tax and (or) on storage fees.
Where To Buy Gold Bars
To purchase gold, you need to contact a bank that has a Bank of UK license to conduct operations with precious metals. Not every bank can buy gold, this is because the bank needs to have specially trained personnel, equipment and, of course, a storehouse for gold.
The leader in the sale of both gold and other precious metals is, of course, Barclays. This is due to the giant branch network and huge financial resources.
In addition to Barclays, the largest players in the precious metals market include Lanta-Bank, Gazprombank, AK Bars Bank, MDM Bank, and other banks.
What are the gold bars
Gold bars are measured and standard. Measured ingots weigh from one gram to a kilogram, their sample must be at least 99.99%, they are 1, 5, 10, 20, 50, 100, 250, 500, 1000 grams.
Standard ingots are large – from 11 to 13.3 kilograms, the sample is not less than 99.95%.
The most popular bullion is kilograms.
How to buy gold bars
To buy gold you only need a passport. The purchase is made out by the contract of sale, a certificate and passport of the manufacturer are issued, which indicates the main characteristics of this gold.
On the metal itself, it is obligatory to put: the number (code), the name of the metal, the sample, its weight, the inscription “UK” in the oval, the trademark of the manufacturer. If the bullion is standard, then the metal grade is indicated, sometimes the 14K gold rate is 21.75. also marked, affixing the bank’s trademark.
How to store gold bars
So, you purchased physical gold, got it in your hands, now you are a happy owner of real pure gold, but do not forget about the storage rules. It is necessary to carefully and carefully handle not only metal but also its certificate.
Remember, the better the condition of gold and certificates for it, the more profitable it will be possible to sell it in the future and vice versa.
In order not to worry about the safety of the ingots, it is best to open a metal account in the bank for safekeeping. That is, you will conclude a storage agreement with the bank and your gold will be in the vault; upon request, the bank will be required to return it. Ingots are accepted only with documents (certificates, quality certificates of the refining manufacturer).
Gold, like any precious metal, is a long-term investment. If you bought metal today, and after a month you sell it, you will not receive income, but a loss. Before you buy gold bars, you need to think in advance how you will sell it and where do not forget to pay personal income tax on sale if you have owned gold for less than three years.