Buying Gold and Silver in Sweden
Located in the northern Europe, the Kingdom of Sweden is the 7th richest country in the world in terms of per capita income and the 4th most competitive economy on the globe. Sweden joined the European Union (EU) in 1995 and it's worldwide popular for being the home to huge brand names like Volvo, Ericsson, IKEA, Electrolux, Candy Crush and many more. The main industrial sectors of Sweden are motor vehicles, telecommunications, industrial machines, pharmaceuticals, chemical goods, iron and steel, forestry, home goods and appliances, and precision equipment.
Since Sweden was a neutral country in WWII, it did not have to rebuild its economy like the other European countries. A high standard of living is achieved by Sweden based on a combination of high-tech capitalism as well as extensive welfare benefits. GDP growth as of 2015 is 4.1%. Sweden had rejected Euro as its currency and maintains its own currency, the Swedish Krona. The first coin was struck in the late 10th century by King Olof Skötkonung and is still on display in the Royal Coin Cabinet in Sweden.
Commodity & Futures Markets in Sweden:
Stockholm Stock Exchange
Founded in 1863, it is the primary securities exchange of the Nordic Countries. This stock exchange is located in Frihamnen, Stockholm, Sweden. More than 300 countries are included in its trading list. OM future exchange acquired the Stockholm Stock Exchange in 1998. When OM merged with Helsinki Stock Exchange in 2003 to form OMX, it also merged the Helsinki Stock Exchange with Stockholm Stock Exchange. Since 2008, Stockholm Stock Exchange has become a part of the NASDAQ Inc., an American multinational financial services corporation that operates eight European exchanges (including this exchange). Electronic trading was introduced in 1990.
Coin Shows in Sweden:
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. Sweden hosts several great numismatic events which shall be attended by collectors and dealers from all around the globe. If you are planning to visit Sweden soon, or if you want to see some coin shows outside the US, take a look at the most popular Swedish coin shows listed below.
This coin show is an annual event that is organized by Helsingborgs Utställningar AB since 1974. The show forgathers several regional dealers and is open to the public. Dealers trade, buy, and sell coins and currencies at this event. The show hours are 11 am to 7 pm.
Government and Private Mints in Sweden:Swedish Central Bank, Sveriges Riksbank Sveriges riksbank, Klara Östra kyrkogata 4, Brunkebergsfaret, Lastplats 6, Stockholm, Sweden +46 8 787 00 00
The Riksbank was founded in 1668 and is one of the oldest central banks in the world, being also the third oldest bank on the globe that is still functioning. Riksbank was offered the monopoly to issue banknotes and coins in kronor in 1904. It earned an independent status by Swedish Law in 1999. The motto of the bank is "Herefore strength and safety."AB Myntverket Smedjegatan 19, Eskilstuna Box 401, 631 06 Eskilstuna, Sweden +46 016-42 81 00
This is a private mint that was active from 2002-2011 and was located in Eskilstuna in Sweden. The mint used to mint Swedish national coins and Nobel Prize medals. From 2008, the legal tender coins for Sweden are being minted at the parent company of Myntverket, Mint of Finland Ltd.
Tax on Precious Metals in Sweden:
In most countries, precious metals bullion is subject to taxation due to its high economic value. The bullion tax on precious metals in Sweden is 25% (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 Sweden.
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 Sweden.
The import duty rate for importing gold bullion into Sweden is 0%. However, if it is classified under Jewelry & Watches>Precious Metals>Unmarked Gold | rectangular shapes, import VAT of 25% is levied.
Local Gold and Silver Dealers in Sweden:1. Guldcentralen AB Address: Box 1343, 171 26 Solna, Sweden Phone number +46 8-410 515 90 Hours of Operation: 8:00 am to 4:30 pm on Weekdays2. Tavex AB Address: Smålandsgatan 9, 111 46 Stockholm, Sweden Phone number +46 8-678 20:30 Hours of Operation: Hours of Operation: Mon-Fri 9 am to 6 pm, Sat 11 am to 4 pm
Smelters & Refineries in Sweden:
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. Sweden also has a few 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:Boliden Group Klarabergsviadukten 90, P.O. Box 44, SE-101 20 Stockholm, Sweden +46 910 77 30 00, +46 8 610 15 00