Buying Gold and Silver in Austria
One of Europe’s best-loved countries, Austria, is also one of the top locations for storing bullion internationally, as well as buying and selling gold. Austrians are known for their fiscal conservatism and unwillingness to take risks, due to which they offer some of the most secure precious metals investment and storage services in the world. The Republic of Austria has a strong tradition of bank secrecy, its government being one of the very few fighting with the EU to maintain it, which makes the country an attractive spot for investors around the globe.
Since gold is exempted from the bullion tax (which is still applied on silver, platinum and palladium items), Austria is one of the best countries to store gold, hosting some of the best anonymous safety deposit boxes and private gold vaults. If you are looking where to store gold overseas, Vienna is certainly an excellent choice thanks to its policy of anonymity and exceptional high-tech precious metals facilities.
Besides, one of the oldest and most prestigious European mints, the Austrian mint, is the manufacturer of the world-famous Austrian Philharmonic coin, currently the only EU bullion coin having a denomination in euro. The coin is produced in gold, silver, and platinum and is one of the most popular bullion products on the industry market, depicting the well-known Vienna Philharmonic Orchestra and the Musikverein Pipe Organ.
Commodity & Futures Markets in Austria
Energy Exchange Austria
The Energy Exchange Austria, headquartered in Vienna, is a Central European energy exchange, having a market that encompasses the trading areas of entire Austria, as well as of Germany. The EXAA was founded in 2001, after the full liberalization of the Austrian electricity market, but the trading activity started on March 21, 2002, and since then, has developed into a major trading platform for energy products. Being launched with only 22 market participants, today, EXAA includes over 77 electricity traders from more than 17 countries. No precious metals are exchanged on this commodity market.
Coins Shows in Austria
Coin collecting is a highly popular hobby prevalent around the world. You can witness the passion for it as more and more coin enthusiasts are traveling to different states and countries to attend famous national and international coin shows. Austria hosts several great numismatic events which shall be attended by collectors and dealers from all around the globe. If you are planning to visit Austria soon, or if you want to see some coin shows outside the US, take a look at the most popular Austrian coin shows listed below.
Numismata, Vienna International trade fair for coins, medals and paper money - Messeplatz 1, A-1020 Vienna, Vienna, Austria, +49 (0)89 268359
The Numismata coin show takes place once a year, at the beginning of April, in different cities in Austria, but it’s also held in Germany. This annual numismatic event hosts over 150 coin dealers, including companies from UAE and US, due to which it is considered an international coin fair. With a capacity of up to 50,000 visitors, the show offers a rich collection of collectibles showcased from Friday to Saturday. There is no admission fee.
Government and Private Mints in Austria
The Austrian Mint
One of the oldest mints in Europe, the Austrian Mint, has a coin-making experience of over 800 years. The Vienna Principal Mint was officially established as the country’s sole mint in 1919 when the Republic of Austria was formed. Since 1989, the mint has operated as a publicly owned company, subsidiary of the National Bank of Austria, being located right in the center of Vienna. The mint’s main duty is to produce the euro circulation coins of the Republic of Austria, but it also strikes an impressive range of best-selling collector and bullion coins and medals, such as the Maria Theresa thaler and the Vienna Philharmonic Coins, available in gold, silver, and platinum. It is internationally praised for its high-quality products and know-how in processing precious metals, being also a renowned provider of coin blanks for many countries in the world. Its state-of-the-art production plant combines some of the world’s top-notch coin-making technology with its centuries of craftsmanship, resulting in innovative bullion pieces highly appreciated by worldwide numismatic experts. The Austrian Mint is also one of the four shareholders of the prestigious Switzerland precious metals refinery, Argor-Heraeus.
International Bullion Depositories in Austria
Austria is one of the top EU destinations for storing your gold overseas due to its strong tradition of bank secrecy. Most of the existing bullion vaults are private, but there are also gold bullion storage companies providing affordable options for storing gold in Austria, as well as storing silver, platinum or palladium. Take a look at the list below to find the best choices for offshore gold storage in Austria.
The Austrian company SOOS GmbH offers international high-security storage and logistics solutions through its worldwide GVS storage facilities for precious metals. The high-security bullion vault located in Vienna is mostly used by EU customers due to its geographical location, but it ensures top-notch precious metal security to any customer. The vault is entirely independent of the Austrian banking system and is ideal for medium and large quantities of gold or small to medium quantities of silver. The vault is available anytime for personal pickup, being monitored 24/7 by high-tech Siemens solutions, infrared video surveillance and distributed sensors which use structure-borne noise. It offers the highest security level for precious metal storage according to the EU standards (Wertheim vaults), being audited by independent renowned auditors on a regular base.
Biggest Vaults/Bullion Depositories in Austria
Looking for how to buy gold and silver store overseas anonymously? Austria offers one of the world’s high-class precious metals facilities, among the few top-notch secured vaults according to the standards of the European Union. Vienna is famous for offering the exclusive service of renting an anonymous safety deposit box – a safe way to store gold overseas. Check out the below list of the best depositories in Austria for storage of allocated gold & silver bullion.
One of the top international gold storage facilities in the world, the Austrian Das Safe from Vienna, is also one of the most highly appreciated bullion vaults due to its anonymous storage services with over 30 years of experience. Bank secrecy has always been a strong tradition in Austria, and Das Safe showcases it at its best, although it charges a fee for this privilege. Das Safe used to be a bank, but it was later transformed into a private vault where clients can store anything they want right near the Vienna’s city center.
Unlike the high-tech airport Singapore facilities, the Das Safe vault area and boxes can be accessed only by entering your personal password on a computer and the box. Security cameras are everywhere, but there is still space for anonymity since they are used only for monitoring. The fire-proof and burglar-proof safe rooms are secured around by 100 tons of reinforced concrete, being protected by an exceptional electronic system, permanent humidity & temperature monitoring and 24/7 guardians.
Das Safe can be accessed 5 days a week, except public holidays. Das Safe offers a wide variety of safe box sizes for rent, and you can buy storage facility at affordable prices starting from 50 euros/week. Each box is insured for about $50,000 (you need to prove what was in the box), but you can increase this amount up to $1 million or just simply add another box. Keep in mind that if you choose anonymous storage, and do not intend to return to Austria soon, you should pay in advance in order to avoid getting shut down, since Das Safe doesn’t keep any of your contact details at all (so there is nowhere to send an invoice).
The Vault Room service from the Palais Coburg is a secure, state-of-the-art, fully automated private gold storage located in the heart of Vienna. The offered deposit boxes are accessible for renters 24/7, by using the received card and code, and the vault’s complex system of locks ensures the absence of any unauthorized access. The deposit boxes are requested within a discreet private cabin, by verifying the card and the code, and then the box is fully automatically conveyed from the vault room to the cabin. The boxes can be opened solely by using security keys and afterward, the boxes are fully automatically returned to the vault room. The insurance for a safety deposit box covers up a value of 35,000 euro, but it’s possible to increase the insurance at an affordable additional cost. The access is anonymous, but you need to bring a passport or an identity card to sign the contract and pay the fee. Prices start from 300 euro per year for the smallest box.
The Sparta Global Intelligence Group offers rental services of safe deposit boxes of different sizes for different purposes. The safe deposit boxes can be rented anonymously or by registration, yet the company ensures a discreet procedure for any choice. Each safe deposit box is insured with 40,000 euro, but Sparta also provides individual insurances at the client’s expense. The safe is located within 15 minutes by car from the Vienna International Airport and is open from Monday to Friday during working hours, but the individual opening is possible for an agreed charge and upon advanced request. Prices start from 45 euro/week for the smallest registered safe box and don’t include VAT. The safes are located in the basement, in a large vault built and equipped by one of the leading manufacturers of safes in the world, Wertheim. The vault is secured by a thick concrete shell which is equipped with integrated seismic detectors. During its opening times, the vault is additionally secured by an armed guard, and it can be entered only by introducing the identification number and the self-configured PIN. The safe is unlocked by using your key and the staff’s security key.
Tax on Precious Metals and Shipping-to Rates in Austria
In most countries, precious metals bullion is subject to taxation due to its high economic value. The sales tax on precious metals in Austria is 20% (the country’s VAT), except for the acquisition or import of specific gold bullion items, which is tax-free across the entire European Union. According to the EU law, “investment gold” is exempted from the existing bullion tax, and it refers to a) gold bars or wafers (with weights accepted by the bullion market) of a purity greater than .995 and b) gold coins which are at least .900 pure, are minted after 1800, have been or are legal tender in their country of origin, and are sold at a price which doesn’t exceed by more than 80% the open market value of their gold content. However, silver, platinum, and palladium bullion pieces are still subject to the 20% tax, so you should keep in mind this when investing in precious metals in Austria.
Since we are not tax experts, Bullion Exchanges strongly advises you to cross check with a tax professional before making any precious metals investments in Austria.
Gold and Silver Dealers in Austria
Besides purchasing bullion items directly from the Austrian Mint, you can buy and sell gold in Austria, as well as any precious metal item at any of the following top precious metal dealers in the country:1. Filip Stankov Address: Liniengasse 48/14, Vienna, 1060 Austria Phone number: +4369 9103 70 8 94 Hours of Operation: Appointments Only Services: Appraisals, Retail, Buying and Estate Liquidation, and Auctions. Specialties: 19th Century Silver Coins, Colonial Coins, Modern Coins, World Coins, Tokens/Medals, and Ancient Coins. Website: www.coinworldtv.com, www.numismatik.co.at
Smelters & Refiners in Austria
If you are looking for companies providing precious metal refining services in Austria, take a look at the below list:ÖGUSSA Österreichische Gold- und Silber-Scheideanstalt GesmbH Umicore-Gruppe Liesinger-Flur-Gasse 4, 1230 Vienna, Austria + 43 1 866 46A-TEC Industries AG Waechtergasse 1/3, 1010, Vienna, Austria + 43 1 227 60