Banks are buying up currency: what is the financial sector preparing for? What coins does Sberbank accept?

Central banks are buying gold, expecting a dollar collapse March 30th, 2013

This week, Bloomberg named Russia the top gold buyer of the decade. In fact, Russia turned “black gold” into ordinary gold: the Central Bank bought 570 tons of gold over 10 years; if we assume that a troy ounce costs $165, then the purchase cost is approximately $30 billion.

The agency made a mistake with the leader, Jeff Clark from Casey Research believes - the People's Bank of China seems to be buying even more gold, but is not telling anyone about it, so as not to raise the price. But other central banks are not lagging behind. Data for 2012 broke all previous records.

• In absolute terms, the leader in gold purchasing was Turkey with 5.2 million troy ounces. The country increased its gold reserves by 84.1% to 11.56 million troy ounces.
• The Russian Central Bank bought 2.4 million troy ounces, increasing reserves by 8.5% to 30.79 million troy ounces.
• Brazil bought 1.08 million ounces, doubling its reserves.
• Among the few gold sellers are Sri Lanka, Germany and the Czech Republic.

The main buyer of gold in the world last year was the Central Bank of Turkey

In total, central banks bought 15.2 million troy ounces of gold, and if sales are subtracted from this amount, the net purchase amounted to 14.8 million ounces. The data is based on official reports from central banks and governments and does not include China and several other countries that did not report.

No one yet understands the true scale of the growth of world gold reserves. The last time central banks bought gold at such a pace was in the early 60s of the last century. Net growth in gold reserves was 17% in 2012, more than the record growth recorded in 2011. At the same time, central banks ignore price dynamics, buying gold, despite the very rapid rise in prices.

Central banks are increasing gold reserves at a record pace

There could be a lot more gold - China last reported its reserves in 2009.

China bought more gold than Russia

Economists judge China's gold purchases based on indirect data. Bloomberg's assessment was based on China's gold imports from Hong Kong and the assumption that gold mined in the country never left China. According to the official estimate, the NBK owns 1,054 tons of gold. According to Bloomberg, the Chinese Central Bank has bought 425 tons of gold over the past 10 years. Most likely, this is a mistake, Clark is sure, and China, not Russia, is the main buyer of gold in the 21st century.

• In December, gold imports from Hong Kong hit a record 109.8 tons.
• Imports for the whole of 2012 also amounted to a record 572.5 tons.
• Total imports since the beginning of 2001 reached 1,352 tons.
• China is now the world's largest gold producer. Since 2001, imports plus production amounted to 4,793 tons of gold—that’s how much gold ended up in the country in 10 years.

Bloomberg states that only 10% of this gold was set aside in central bank reserves. Of course, Chinese citizens buy a lot of gold for savings, but there is great doubt that private consumption accounted for 90% of all the “yellow metal” available in the country. Most likely, the Chinese central bank still buys gold faster than its Russian counterpart.

According to economist and renowned investor James Rickards, China has already accumulated 2-3 thousand tons of gold reserves. If this estimate is correct, the country has doubled its reserves since 2009.

China will blow up the gold market

The next cataclysm in the gold market will occur when China officially announces its actual reserves, Rickards believes.

• At the end of 2013 - beginning of 2014, China will announce that its gold reserves amount to 3-4 thousand tons. This will lead to a price jump to $2500-3000 per troy ounce.
• In China, the volume of gold reserves to GDP will reach the ratio in the United States, which stores all reserves in precious metals. Gold in this situation will become the real basis of the world monetary system, the gold standard, as it was before the collapse of the previous system.
• In 2015, gold will rise in price to $7,000 per troy ounce.

Central banks try to protect themselves from dollar collapse

The answer to the question of why central banks are so desperate to buy the yellow metal is simple.

Russian officials have said that gold will ensure the country's sovereignty if something happens to the dollar, euro, pound or other reserve currency.

Hu Jintao, the former head of China, stated that the current currency system is “a product of the past.” Politicians from developing countries talk about the injustice of the dollar system and currency wars.

If the situation in the US economy worsens and the Fed’s monetary policy finally stops helping, then “quantitative easing” could become even more active, and its goal will be to depress the dollar - this is the only way to make US exports grow without resorting to a reduction in nominal wages.

Perhaps investors are trying to forget about the risks of the world's main reserve currency, but central banks could not forget about them - they know what happens when you print too much money, they themselves once did this. They want to insure themselves against Fed policy and invest in something that has real value.

The dollar has been the world's reserve currency since the end of World War II, first with gold, then without it. Now the end of this era is coming, and central banks are buying what they have to buy. Central banks expect the dollar to fall, as well as changes in its status and try to protect themselves from these risks.

This means that gold, which has risen in price by 500% since 2001, is not overvalued. Most likely, central banks continue to buy it right now.

The share of gold in Russia's reserves is about 9.5%, and in China's reserves it is about 2%. But the central banks of these and many other countries have decided to buy as much gold as they can get their hands on, which is why China and other countries do not publish official statistics on reserves.

There is a high probability that the US dollar will not be able to survive the blow of the American government and the Federal Reserve. In this case, most currencies will lose their purchasing value.

Perhaps investors should also follow the path of central banks and buy gold, as well as securities of companies involved in its mining.

And I remind you The original article is on the website InfoGlaz.rf Link to the article from which this copy was made -

There is not a single family in Russia that does not have old-style coins lying around or those that are out of circulation. To prevent them from turning into metal trash, their owners are trying to sell their “treasures”. After all, many have heard that ordinary-looking coins can become a source of good additional income. Those who turn to numismatists at their own peril and risk, and those who take a simpler approach turn to the bank. Therefore, the question of what coins the bank is buying in 2019 is very relevant for many.

One of the advantages of selling coins at a bank is the availability of the service. The owner will not need to collect information about local numismatists, study information on various forums and waste time on this. All he needs to do is find out what rare coins Sberbank is buying for the current period. It should be noted that the institution does not buy all monetary denominations and their list changes periodically both over time and by region. There is no exact forecast of which specimens will be purchased from the population. The reason is simple: the bank is not interested in buying one type of coin. When a sufficient number of certain denominations is collected, the credit institution begins to buy others. Therefore, it is very important to periodically monitor all information from the bank’s central office about the list of purchased copies.

Denominations

Let's decide which denominations are valuable to the bank. They are divided into two categories:

• valuable specimens purchased on an ongoing basis;
• periodically purchased banknotes.

The first category includes coins made of precious metals, royal, and anniversary. The Bank buys investment copies only of its own issue, which were produced in limited quantities. Since their price increases over the years, it is profitable for the bank to sell them. But in this case, the physical condition of the product, including packaging, is very important. If there is damage, the price will be determined by the amount of precious metal and its value at the time of purchase. Experts say that even minor damage to the integrity of the case leads to a change in the composition of the coin.

Banknotes from the second category are purchased after the institution announces the start of the purchase of a certain denomination. Basically, these are post-Soviet coins issued no earlier than 1991. They may differ only in a few characteristics:

• place of manufacture - preference is given to the mint from St. Petersburg (SPMD mark is required);
• coins in denominations from 5 kopecks to 10 rubles;
• year of issue,
• difference in coinage,
• chemical composition of the alloy.

Recently, samples from 2001 and 2003 have been on the list of purchased denominations. These are coins in denominations of 1, 2, 10 rubles and 50 kopecks (2001), as well as 1, 2 and 5 rubles (2003). In addition, the 2-ruble and 10-ruble coins of 2003 with the image of Gagarin are of interest.

When asked whether the bank buys old, foreign or Soviet coins, the answer is negative. They belong on numismatists’ trading floors.

Exchange methods

Sellers should be aware that buying does not happen all the time, but is periodic. This means that you cannot come to any bank branch at any time and make a sale. Initially, a credit institution makes an announcement about the purchase of a certain type of banknotes from the population. In addition, not every department has specialists capable of conducting an examination.

How much does Sberbank buy coins for?

Like any banking institution, the leading bank of the Russian Federation often underestimates the real price of rare items. This is the policy of all credit institutions. The usual average price is 5-10 thousand rubles. The maximum price he can provide is up to 30 thousand rubles. And that concerns the most expensive specimen - 1 ruble, produced in 2001, copper-nickel alloy, weighing 7.5 g. But this price of the specimen is in excellent condition. The slightest deterioration in the appearance of a coin sharply reduces its value. Almost the most decisive factor determining the price is the safety of the goods. The final conclusion on the purchase is provided by banking expertise.

But the banking institution also accepts rarer and more expensive coins, the price of which can soar up to 10 thousand rubles. But such unique specimens are bought only at the central office and very rarely.

Conclusion

Those who are interested in what coins Sberbank is buying in 2019 should first of all receive preliminary information about the procedure itself. Since only 280 bank branches throughout the Russian Federation are engaged in purchasing, it is necessary to find out where such an operation can currently be performed. This information can be obtained by contacting the institution’s telephone line or on its official website. In addition, you can find out the most important question that interests the seller - the types of copies being purchased and their current cost. Do not forget that when selling rare and precious items, the selling price is influenced by the price rate of precious metals established on the day of sale.

Numismatics, collecting rare and expensive coins, is a rather rare, but extremely profitable activity. Avid numismatists can sell their collections for fortunes. However, not only they, but also ordinary Russian citizens who are not interested in numismatics can get several thousand rubles per coin. Almost every house has a jar or box filled to the top with small change. Some have heard about the “mysterious” rare specimens and tried to find them. But what to do with them later?

The easiest way is to sell them to Sberbank of Russia. Its branches are located everywhere, and the bank accepts valuable coins, paying large sums for them. However, the financial institution does not accept all possible rare items. Let's figure out which of them can be sold to the Savings Bank of Russia.

The procedure for purchasing Sberbank

Unfortunately, the biggest difficulty that beginners or experienced numismatists who decide to sell their collection to the largest bank in Russia will have to face is the frequency of purchases.

The central office of Sberbank changes the “goal” of its searches every few weeks. For example, if in January they bought five-kopeck coins issued in 2001, then in February they will not buy the same value from you - the financial organization began to buy ruble coins issued in 2003. What is this connected with?

It makes no sense for the bank to buy more rarities than it needs. Therefore, after a sufficient number of coins have been received, he begins collecting others. In this regard, it is extremely important to follow the announcements of the central office so as not to miss your luck. Follow the news, online resources, and soon your collection will be purchased by the Savings Bank.

However, although Sberbank of Russia is the most affordable way to sell rare items, nevertheless, these are not the most profitable deals for you. Due to the “wholesale” purchase of collections by the bank, the real value of the collections is often underestimated. If you want to sell items from your piggy bank at a higher price, then you are better off turning to professional numismatists, collectors or buyers. It will take longer, but you will get more benefits. In addition, numismatists do not have the frequency of purchases that the Savings Bank of Russia demonstrates. You can sell them your collection of rare items at any time.

What coins does Sberbank buy?

The most popular coins for purchase by financial institutions are those issued in 1998 and 2003. These include:

• Ruble 2001, “Red Book” series;
• 1 ruble 2001;
• The 1997 ruble is yellow, with a nickel alloy;
• Ruble 1998 with wide border;
• 2 rubles 2003;
• 5 kopecks, issued in 2002. They are made of white metal (steel);
• commemorative coins issued in 2003 with the image of Yuri Gagarin (2 and 10 rubles).

At the same time, all coins of 2003 are subject to a requirement related to the mint seal. If your coins have the Moscow sign on them, the bank will not accept them. However, this requirement does not apply to anniversary copies with a portrait of an astronaut. They should not indicate at all which mint they belong to.

Cost of purchased copies

Sberbank, as already mentioned, often underestimates the real cost of rare items. Therefore, the maximum that you can get for any of the above coins is 30,000 rubles (1 ruble 2001 - silver, with a copper-nickel alloy (brass), crossbar 27 mm, weight 7.5 g). By the way, the price of a coin increases as its appearance improves. The newer and cleaner it looks, the more the financial institution will pay for it.

Fortunately, these are not the only copies that the bank accepts. There are also more expensive and rarer money, for which the bank is willing to pay up to 10,000 rubles. However, their purchase by the central office is extremely rare. If you are the happy owner of a truly unique, rare and expensive item, then it is better for you not to wait for a specific offer from the central office, but to turn to professional numismatists who will be happy to buy this rarity from you for a colossal amount.

Having declared an interest in mortgages, Alfa Bank began purchasing portfolios. The first transaction, as Kommersant found out, could be the purchase of loans from Absolut Bank. Kommersant's sources indicate that Sovcombank also applied for this portfolio, but was unable to beat the competitor's price. According to experts, the struggle of banks for high-quality mortgage portfolios will continue, since there are fewer people willing to sell them than to buy them.

Sources in banking circles told Kommersant that Alfa Bank has begun to implement plans to conquer the mortgage market. The bank not only issues mortgages, but also buys the portfolios of other players to ensure the implementation of plans to enter the top five market leaders (see Kommersant on September 7). “The pilot deal will be the purchase of a portfolio from Absolut Bank,” one of the interlocutors told Kommersant. “It is planned that the deal will be closed by the end of the year - maximum in the first quarter of 2018,” another source indicated. “The negotiations are now at the stage of agreeing on the terms,” said Tatyana Ushkova, deputy chairman of the board of Absolut Bank, refusing to specify the amount of the transaction. Alfa Bank declined to comment. According to sources, the volume of the acquired portfolio is small by the standards of banks - about 3 billion rubles, but Alfa Bank needs it to test the model and technologies for working with mortgages.

According to Frank Research Group (FRG), Alfa Bank's share in the mortgage market does not exceed 0.1%, and the volume of the portfolio is 6 billion rubles. Until recently, the bank did not show interest in this segment due to low profitability and issued mortgages in minimal quantities. Since the end of 2015, Alfa Bank has completely abandoned its own issuances. Absolut-Bank, according to FRG data as of November 1, is among the top 10 mortgage banks with a market share of 1.3% and a portfolio volume of 70.4 billion rubles.

The top five leaders in the mortgage market now include Sberbank, VTB 24, Gazprombank, Rosselkhozbank and Deltacredit.

To achieve the goal and get into the top 5, Alfa Bank needs to increase its portfolio tenfold within three years, which is difficult only through organic growth.

The acquisition of portfolios is complicated by the greater number of buyers than sellers. “Today, interest in high-quality mortgage portfolios is really high, especially from banks that have not previously developed mortgage lending,” emphasized Tatyana Ushkova.

Indeed, Alfa Bank is not the only player that has recently declared ambitions to become one of the leaders in the mortgage market. In two or three years, Russian Capital Bank intends to enter the top 3 in this market and take at least 5%, also almost from scratch, which will become the property of the Agency for Housing Mortgage Lending (AHML) (see “Kommersant” from December 5th). Sovcombank also has ambitions, which is also interested in purchasing portfolios (see Kommersant of January 18). It was he, according to Kommersant’s information, who competed with Alfa Bank for the purchase of a portfolio from Absolut Bank, but his price offer turned out to be lower. Sovcombank declined to comment. Absolut Bank did not comment on this information.

The struggle of banks for mortgage portfolios gives those who have accumulated a supply of high-quality loans a good chance to earn money. Tatyana Ushkova admits that for Absolut Bank, which has been actively developing its mortgage business for many years and has built up a high-quality portfolio, such deals are now profitable. Another player who has specialized in mortgages for many years, the Housing Finance Bank (BHF), is also selling mortgage loans. According to Kommersant's sources, he also discussed the possibility of selling the portfolio - about 2 billion rubles. with both Alfa Bank and Sovcombank, but in the end he gave preference to AHML. The BJF will sell it to the agency as part of the “Factory of Mortgage Securities” project. “The deal is planned to be closed by the end of the year,” AHML told Kommersant. Judging by FRG data, this is 65% of the bank's entire mortgage portfolio. The BJF did not respond to Kommersant’s request.

According to Central Bank statistics, last month the banking sector showed an unusually high increase in foreign currency purchases. Is this a sign of an imminent collapse of the ruble? Is it worth buying currency today? What's going on?

The growth of foreign exchange transactions of banks is an event that could not go unnoticed. Currency analysts, realizing that they had not seen such agility from credit institutions this year, decided to express their positions on this issue. Bankers parried these attacks easily and nonchalantly, but some experts still had doubts about whether representatives of financial institutions had hidden some information. But first things first.

September of this year became the most “growing” in terms of daily turnover of foreign exchange transactions of banks. The volume of transactions with the dollar increased by 10%, and with the euro - by almost a third. Nothing like this happened either last year or even the year before, when currency fluctuations almost destroyed Russians’ confidence in the future. In 2015, the increase in the turnover of foreign exchange transactions occurred during the holiday period, and in 2014 - due to the Crimean events. It was not difficult for analysts to assume that September of this year also became a month of preparation for some large-scale changes.

The bankers had a simple argument for this opinion. Representatives of credit institutions claim that they acted only in the interests of their clients, whose demand for currency increased sharply with the onset of autumn. That is why bankers suggest asking domestic companies and citizens the question of why the dollar and euro suddenly became trendy again.

The interest in currency on the part of organizations is quite understandable: the end of the year always marks a peak in sales. However, what is happening to people’s moods is not entirely clear. Naturally, many Russians cannot get rid of the feeling that in the imperceptibly approaching December everything will happen again, as in the previous two years. In their desire to hit the jackpot, they again purchase foreign currency in order to return it at a profit after the New Year holidays.

However, private investors have good opportunities for this. According to some experts, today is a pretty good moment to buy currency. Now the ruble is stable and strong, but the dollar and euro are not in the best position in relation to it. Moreover, there are risks of aggravation of the foreign policy situation, in which Russia could once again find itself in dire straits. New sanctions are quite capable of collapsing the ruble. Citizens themselves will be able to help it reach the bottom - their interest in the currency will create a shortage of the euro and dollar in the country and increase the unattractiveness of the national currency.

You can follow the dynamics of exchange rates in real time on our website.