Frequently Asked Questions About Selling Investment Gold

Gold coin with Australian kangaroo design, 1 kg of pure gold, 2010 vintage, premium quality.

The most important information and most frequently asked questions when selling investment gold.

I am selling gold. Do I need to report it to the tax authority (NAV)?

When selling investment gold, there is no NAV reporting obligation for wire-transfer payouts; however, for cash payouts above HUF 2 million, the purchase must be reported to NAV, using a tax identification number or, for foreign nationals, a passport number. Under the current favourable tax rules, the latter is also in the client's interest, as it generates taxed income at a preferential rate.

I have lost the gold certificate. What should I do?

There is no cause for concern. A gold bar that would normally come with a certificate can still be sold even if the certificate has been lost. In such cases, gold dealers typically charge a discount of around 1%.

Can I open the packaging of my investment gold? Will its value decrease?

A packaged gold bar or gold wafer can be removed from its packaging, but one should expect the gold dealer to charge a discount of approximately 1% when it comes time to sell.

Where can I sell my gold?

One of gold's greatest advantages is that it is tradeable virtually anywhere in the world. In developed countries, the gold trading infrastructure is very well established and spreads are appropriately tight. Specialist dealers who can also purchase non-standard gold products can be found almost everywhere. In Hungary there are numerous scrap gold buyers; however, when selling investment gold, it is advisable to seek out a dealer specialising in investment gold, as they will likely offer a better buyback price. The reason is that investment gold coins and bars purchased by such a dealer can be resold, so it is worthwhile for them to offer a higher buyback price than someone who will melt the gold down.

Conclude Befektetesi Zrt. is a reliable gold dealing company in Hungary with more than 15 years of operation.

Physical gold and silver buying and selling in central Budapest, in the Bankcenter building.

-professional team -private banking level service -convenient parking (underground garage) -fast processing

At your service.

Is the original purchase invoice required when selling gold?

In certain cases it is an advantage to have the purchase invoice, but you will certainly be able to find a dealer who will buy the gold without one.

My gold coin is scratched. Can it still be sold? How much does the price decrease?

If an investment gold coin is slightly scratched, this may reduce its price, but typically by only 1-1.5%. If the coin is so damaged that no one else is willing to buy it from the dealer, the price may drop by 2-3% because it will need to be melted down. Investment gold wafers with damaged packaging also lose value, by approximately 1%.

How quickly can I sell my gold?

Gold is among the most liquid assets; it can be converted into cash immediately. Larger dealing companies can pay out significant sums immediately in cash or by wire transfer, and even extremely large amounts are typically settled within 3 business days.

Can someone else sell my gold on my behalf?

Yes, there is no obstacle to this. The standard power of attorney is required.

Buying and selling investment gold at the best prices and most conveniently? How is it possible?

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