Buying Gold and Silver in Spain
Located in Southwestern Europe, the Kingdom of Spain is the second largest country in the European Union and fourth largest in Europe. A great empire which goes down in history as among the largest since it also encompasses several other territories in Asia, Americas, Oceania, and Africa.
By nominal GDP, Spain is the fourteenth largest economy in the world, but it's also one of the largest in terms of purchasing power parity. Spain is also the fourth largest in Eurozone based on GDP. Although it was hit by recession for a long time, Spain saw a strong economic growth in 2016. The industrial output has accelerated tremendously. Spanish companies have had an early global expansion, establishing businesses even in India and China. The main fields that Spain has invested in are renewable energy commercialization, technology, train manufacturing, textile companies, petroleum companies, and infrastructure.
Spain has a few authorized wholesale and retail precious metal dealers who offer a wide variety of collector coins as well as investment bullion. There are also a few popular coin shows which take place on a monthly basis all over Spain. The country also has a few secure vaults services for storing precious metals and other important documents. The Mint of Spain is the one which produces circulating and collector coins for its government, but also for governments and businesses of other countries.
Commodity & Futures Markets in Spain:
Mercado Español de Futuros Financieros (MEFF)
The MEFF was established in 1989. It is an organized regulated market and the Official Financial Options and Futures Market in Spain. The CNMV and the Ministry of Economy of Spain control and supervise the MEFF. Different financial derivatives are traded at MEFF such as futures and options on state bonds, futures and options on the IBEX-35 stock index, and futures and stock options.
Coin Shows in Spain:
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. Spain hosts several great numismatic events which shall be attended by collectors and dealers from all around the globe. If you are planning to visit Spain soon, or if you want to see some coin shows outside the US, take a look at the most popular Spanish coin shows listed below.
This is a monthly convention held in various places in Madrid and also throughout the entire Spain, being organized by the Spanish Association of Numismatists Professionals. A variety of coins and collectibles are displayed by dealers attending this show. It's a great place to buy, sell, and trade coins and collectibles. Dealers offer appraisals. Educational programs are also held. This show was recently hosted in Portugal, too. In Madrid, the convention takes place 11 times a year, except August, while other places in Spain enjoy these conventions several times a year.
Government and Private Mints in Spain:Fábrica Nacional de Moneda y Timbre (Spanish Royal Mint)
The Royal Mint of Spain is the national mint of Spain. Before the rule of King Philip V of Spain, there were many public and private mints operating in the country. The king decided that the state will have the monopoly on minting coins. In 1893, two different establishments located in the same building, the mint Casa de la Moneda and the Stamp Factory, merged to form the Royal Mint of Spain. The mint has incorporated cutting-edge technology and due to its rich experience is able to bring out amazing products. The mint produces coins for circulation and collection, banknotes, security paper, identification documents, electronic cards, graphic products, as well as medals. Apart from serving the Government of Spain, the mint also offers services and custom-made solutions for other public and private organizations.
International Bullion Depositories in Spain:
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. Spain is one of the top spots for investors with large holdings who are looking to spread their investments among several countries. There are many international companies which offer precious metals storage in Spain.
Bullion Exchanges in partnership with several gold bullion storage companies offers allocated, pool allocated and unallocated storage in Spain 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 Spain.Degussa Metales Preciosos Calle de Velázquez 2, 28001 Madrid, Spain +34 911 982 900
Degussa has extended its branches in Europe and its most recent and latest branch is in Spain. Degussa is worldwide popular for offering secure storage. Since Degussa is out of the banking sector, it is safe to store the precious metals within its vault. Apart from storing precious metals, clients can also store jewelry and documents. The company offers different sizes of safe deposit boxes to accommodate the needs of different clients. Only the client and those authorized by the client can access the safe deposit box. The prices are reasonable and the vault is protected by a high-tech security system. The valuables are fully insured and complete discretion is maintained.
Vaults and Bullion Depositories in Spain:
Spain is one of the most economically stable countries in the world, being regarded as a safe place for storing precious metal holdings. Besides international bullion storage options, there are also local companies which offer precious metals vaults where you can securely store your items. So, if you want to buy and store gold in Spain, take a look at the below Spain vault options.Barcelona Vaults (opening soon)
Barcelona Vaults is a sister company of Merrion Vaults, which is one of the largest independent vaults in Ireland. Barcelona Vaults offers a state-of-the-art purpose built vault for its client who can be both individual investors as well as large businesses. The safe-deposit boxes are available in various sizes as per the requirement of the client. The small sized boxes are perfect for storing jewelry, coins, important computer backup discs, cash, etc. The medium sized boxes are suitable for storing bullion, important papers, and documents, house deeds, etc., the large boxes are perfect for storing artworks, and valuables of larger size. The company is also the only one which offers high-security private walk-in vaults for storing valuable furniture and fine art. The facility is protected by a cutting edge security system.Telesforo Gestión SL Calle Foncalada, 13 Local 7. 33002 Oviedo, Asturias, Spain +34 984 29 52 81
Apart from offering high-security safe deposit boxes, the company also offers high-security warehouses. The safe deposit boxes are perfect for storing precious metal coins, bullion, jewelry, and other important documents. The safes are protected by high-tech security systems. The premises are built in such a way, that they allow access by vehicles and also as a pedestrian. There is an insurance guarantee for all valuables that are stored in their safe deposit boxes.
Tax on Precious Metals in Spain:
In most countries, precious metals bullion is subject to taxation due to its high economic value. The bullion tax on precious metals in Spain is 21% (the country’s VAT), except for the acquisition or import of specific gold bullion items, which are 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 items are still subject to VAT, so you should keep in this mind when investing in precious metals in Spain.
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 Spain.
The import duty rate for importing Gold into Spain is 0% and the import VAT is 21%, when classified under Jewelry & Watches>Precious Metals>Unmarked Gold | rectangular shapes with HS commodity code.
Local Gold and Silver Dealers in Spain:1. Despi-Astigi Sl Address: Av del Parque, 17, Cornella de Llobregat, Barcelona, 08940, Spain Phone number +34 93 377 6866 Hours of Operation: 9:30 am to 7:00 pm Services: Wholesale, Retail, and Auctions. Specialties: US Coins, Dollars, Gold Coins, Modern Coins, World Coins, and Bullion Coins.
Smelters & Refineries in Spain:
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. Spain 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:IGR Spain Albasanz, 14 Bis, 3º I, 28037 Madrid, Spain +34 917 54 52 34Argyor Metales Preciosos SA Camino Almotilla, S/N, Zaragoza, 50012, Spain +34-976-40-21-23Sempsa JP Avenida de la Democracia, 13, 28031 Madrid, Spain +34-913-82-92-20Metallo Spain Barrio Arene 20, 48640 Berango, Vizcaya, Spain +34 94 668 91 00