Buying Gold and Silver in Russia

Flag of RussiaRussia is officially known as the Russian Federation and is located in Eurasia. It is the largest country in the world by surface area and covers more than one-eighth of the earth’s inhabited land area, stretching over eleven time zones between the Northern Asia and Eastern Europe. The European part of Russia, which is its western part, is more developed than its eastern side. The majority of Russians also live in the European part. Moscow is the capital of Russia and is one of the largest cities on the globe. Other major Russian cities are Saint Petersburg, Novosibirsk, Yekaterinburg, Nizhny Novgorod, and Kazan.

Russia has a mixed economy, with natural resources as its most important contributor. Around 30% of the world’s natural resources lie in Russia, is estimated to be worth about US $75 trillion (World Bank). The country is naturally blessed with abundant oil, natural gas, and precious metals, a big percentage of which is exported to different countries. Russia is also popular for its weapon industry which involves sophisticated techniques of designing and manufacturing high-tech military equipment. There are a few great precious metal dealers in Russia and two functioning mints which produce and sell exceptional Russian coins, commemoratives, and other investment coins. 

Commodity & Futures Markets in Russia:

Moscow Exchange
Moscow Exchange is one of the largest exchanges in Russia. It was created in 2011 by merging the Russian Trading System (RTS) and the Moscow Interbank Currency Exchange (MICEX). The exchange operates trading markets in equities, bonds, derivatives, the foreign exchange market, money markets, and precious metals. The exchange hosts both spot trading and futures trading in gold. In The spot gold trading was launched in October 2013 and is hosted on the FX and precious metals platform of this exchange. The gold future trading takes place on the derivatives markets platform on the Moscow Exchange. The settlement is based on the afternoon LBMA gold price benchmark.

Coin Shows in Russia:

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. Russia hosts several great numismatic events which shall be attended by collectors and dealers from all around the globe. If you are planning to visit Russia soon, or if you want to see some coin shows outside the US, take a look at the most popular Russian coin shows listed below.

The International Coin Conference and Exhibition Coins - Radisson Slavyanskaya Hotel and Business Centre, Square of Europe, 2, Moskva, Russia, 121059. Phone: +7 495 941-80-20

This is the only international coin show held in Russia and is organized by Water Mark Ltd. This numismatic event has been held since 2008 and starting with 2013, it is hosted by Moscow. There will be many participants at this show, including some high profile representatives of the Bank of Russia, Goznak, heads of departments of national and commercial banks, various largest mints, international coin distributors, numismatic stores, auction houses, and equipment suppliers. The show will feature a variety of important commemorative coins and investment coins. Rare and ancient coins and currencies from different parts of the world are also expected to be showcased at this event. The show will also have sessions where industry professionals will explain market trends, discuss coin designs, latest production technologies, marketing and promotion strategies, and much more. Apart from buying and selling coins and collectibles, entertainment programs will also be arranged, such as games, quizzes, prize draws, open numismatic seminars, etc. More and more coin enthusiasts and dealers from all over the world are attending this coin show each year. This is a 3-day event which is held from Thursday to Saturday.

Government and Private Mints in Russia:

The Moscow Mint – Branch of Goznak Address: 115093, Moscow, Danilovskiy Val, 1 Phone number +7 (495) 729-56-69, +7 (495) 258-97-90 ext. 55-18 Hours of Operation: Mon to Fri 8:30am to 8:00pm, Sat 11:30am to 6:30p

This Russian Mint is a branch of Goznak. It was founded in 1942 for the purpose of producing medals and military orders. Over the course of time, the mint has been completely upgraded and modernized. Today, it produces subsidiary coins and some great gold, silver, and base metals commemorative and investment coins for the Bank of Russia as well as for other countries. Apart from coins, the mint uses its modern technology and equipment to strike state awards, departmental awards, commemorative medals, lapel badges, various souvenirs and religious products. The coins produced at the Moscow mint are highly popular for their one-of-a-kind designs, technical perfection, and superior quality.

Saint-Petersburg Mint – Branch of Goznak 197046, Saint-Petersburg Peter and Paul Fortress 6 +7 812 324-14-03

This is a branch of Goznak and also one of the oldest mints in Russia. This mint is among the largest enterprises in the world, too. The Saint-Petersburg Mint has been producing coins for over three centuries, and its craftsmanship has been passed on from generation to generation. Also, the mint has been constantly upgrading itself with the latest brand new technologies available in the minting industry. The mint has a top level cutting-edge equipment and technology thanks to which it can produce almost any geometrical configuration of non-ferrous metals. All its products are in compliance with the international product quality standards for cold stamping. The mint specialists can strike coins with weights as low as 1.55 g as well as up to 5000 g (in purity), with a diameter of 12 mm up to 130 mm. The mint produces all types of coins, commemorative coins, medals, awards, lapel badges, souvenirs, etc.

International Bullion Depositories in Russia:

When investing in precious metals, safeguarding your valuables is a crucial factor. Sensing the difficulty that investors have in storing and safeguarding their bullion investments, many large precious metal companies offer safe and secure storage solutions in different places around the world. There are many international companies which offer precious metals storage in Russia.

Bullion Exchanges in partnership with several gold bullion storage companies offers allocated, pool allocated and unallocated storage in Russia in high-tech, secure vaults with top-notch 24/7 control and surveillance. Just contact us and we will provide you the safest and most convenient way to store your precious metals in Russia.

Sberbank of Russia OJSC 19 Vavilova St., 117997 Moscow, Russia +7 495 957 58 62, +7 (495) 500-5550

The bank offers safe deposit boxes for rent. Clients can store jewelry, cash, bullion, and other important documents in these boxes. The facility is completely secured. All safe deposit boxes have been fitted with modern equipment and security devices. Complete confidentiality is maintained. There are a few criteria within the Russian law according to which one cannot store in safe deposit boxes items like arms, explosives, narcotics, and other things that might harm people or the environment. Since the bank has several branches, it offers a large number of safe deposit boxes. The rental is available from 1 years to 3 years. Different sizes of safe deposit boxes are also available. Another person apart from the client can be authorized to use the safe deposit boxes. 

Disclaimer: Bullion Exchanges neither vouches for the security offered by any vault or bullion depository in Russian Federation nor does assure any safeguarding from confiscation by Government.

Tax on Precious Metals in Russia:

18% VAT is imposed on gold purchases in Russia. This makes gold an unprofitable investment which may be beneficial only if the buyer is able to keep the items until the price of gold increases with more than 18% of the original purchase value. However, there is still a VAT exemption on gold coins purchases.

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 Russia.

Shipping-to rates:

The import duty rate for importing Gold into Russian Federation is 17%, and the import VAT is 18%, when classified under Jewelry & Watches>Precious Metals>Unmarked Gold | Rectangular shapes with HS commodity code 7108.13.1000

Local Gold and Silver Dealers in Russia:

1. Auction House "RARE COINS" Address: Rachmanovsky Lane, 4 Bld.1, Office 850, Moscow, 127051 Russian Federation Phone number +7 (499) 703-41-35, +7 (903) 960-19-04 Services: Auctions. Specialties: World Coins and Tokens/Medals.
Authorized Dealer: PCGS
Authorized Dealer: PCGS
2. Hermes Auction, LTD Address: 119602 Arbat street 38/1, Moscow, Russian Federation Phone number +74 99 241 31 91, +79 85 928 33 52 Services: Retail, Auctions, and Wholesale. Specialties: US Coins, Mint Errors, Modern Coins, Bullion Coins, Tokens/Medals, World Coins, and Currency.
Authorized Dealer: PCGS
3. Coins Moscow Address: 127006, Moscow, Sadovaya-Triumfal’naya street, building no. 12/14, housing 1, office #31 Phone number +7-495-650-41-05, +7-926-699-43-70 Hours of Operation: Mon to Fri 11 am to 8 pm, Sat 10 am to 6 pm
4. The Moscow Mint – Branch of Goznak Address: 115093, Moscow, Danilovskiy Val street, 1 Phone number +7 (495) 729-56-69, +7 (495) 258-97-90 ext. 55-18 Hours of Operation: Mon to Fri 8:30 am to 8:00 pm, Sat 11:30 am to 6:30 pm
5. Noris Russia Address: Nauchnyy passage 6, office no. 425, Moscow, 117246, Russia Phone number +7 495 745-68-92 Hours of Operation: Mon to Thu 10 am to 6 pm, Fri 10 am to 5 pm
6. AURIS Precious Metals Address: 121170, Moscow, Victory Square, Building 1 D Phone number +8 (495) 730-20-28 Hours of Operation: Mon to Thu 10 am to 6 pm, Fri 10 am to 5 pm
7. Vardo Gold Address: Kiev highway, BP "Rumyantsevo" Building "B", floor 9 of. 6 Phone number +7 (926) 699-99-79 Services: Buying gold, diamonds, silver, manufacture of jewelry
8. Goldpirs Address: Smolnaya street, 12, Moscow, Russia, 125493 Phone number +7 495 775-62-64 Hours of Operation: Mon to Fri 9 am to 5 pm
9. Zolotoy Feniks Address: Shenkurskiy passage, 3-B, Moscow, Russia, 127349 Phone number +7 499 713-14-00
10. Klondayk Jewelry Store Address: 1905 Goda street, 4с2, Moscow, Russia, 123022 Phone number +7 903 227-58-69

Smelters & Refineries in Russia:

Smelters extract various metals from the ore and create refined precious metals products. Silver and gold smelting is typically conducted by a professional precious metals refinery, such as Bullion Exchanges. Russia also has numerous plants where refining silver and gold are performed. Pick a gold or silver refinery listed below or allow us to help you in melting gold or silver for you:

JSC Krastsvetmet 1, Transportnyproezd, Krasnoyarsk, Russian Federation, 660027 +7 391 259 3333
Auriant Mining Vereyskaya Plaza - 1, 29, Vereyskaya street, Bld. 154, 121357, Moscow, Russia +7 495 660 22 20
Kuusakoski Recycling Industrialnaya street, 9, Lobnya, Moscow region, Russia, 141730 + 7 (495) 995-47-54, + 7 (495) 995-47-65
Ekaterinburg Non-Ferrous Metals Processing Plant 131, Uspensky Avenue, Verhnjaja Pyshma city, Sverdlovsk region, 624097 Russia Phone: +7 (343) 311-46-00
OJSC Uralelectromed, 1, Uspenskiy Avenue, Verkhnaya Pyshma city, Sverdlovsk region, 624091
The Moscow Special Alloys Processing Plant 31 Obrucheva street, Moscow 117246, Russia Tel: +7-495-334 9908, +7-495-334 7722
Novosibirsk Refinery Plant 103 Kirov Street, Novosibirsk 630008 Russia Tel: +7-383-266 1057
OJSC Prioksky Non-Ferrous Metals Plant Kasimov, Prioksky District, Ryazan region, 391303, Russia Tel: +7 (49131) 319 99
Shelkovsky Plant of Secondary Precious Metals Shelkovo City, Moscow, Russia
OJSC Kolyma Refinery Address: Khasyn settlement, Magadan, Russia