That's not as cool as it could sound. You could buy gold from bank, but it is problematic to sell it back if you need cash, f,e,. And AFAIR, there already was no VAT for buying official gold/silver/platinum coins earlier. But if you want to sell your gold coin to the bank, the byuout price would be significantly lower and bank will charge you with something like "authenticity check fee" and "coins counting fee".

Gold and other precious metals sold by banks always were a way for removing or freezing money from population to cut the potential business grow. When you buy gold, the money you could potentially invest into business, or spend for goods made by businesses, just disappear from circulation. There are also other assets like state obligations that play the same role.

And the worst thing is that you can't use that gold to pay for something. There is articles in Russian Federation Criminal Code, that prohibit anything except Russian Central Bank banknotes for any local payments and a jail sentence for unauthorized circulation of precious metals bypassing banks with exception of jewerly. Even numismatists could fall into the problems if they will be caught on trade or exchange some noticeable worth of gold coins.

Of course you always able to ignore the law in person-to-person trade and we unlawfully use USD/EUR from time to time for trade, and certainly could use gold or whatever, but you have to be shure that another side of such trade deal is not some police shill and never disclose that deal to authorities.

That's not as cool as it could sound. You could buy gold from bank, but it is problematic to sell it back if you need cash, f,e,. And AFAIR, there already was no VAT for buying official gold/silver/platinum coins earlier. But if you want to sell your gold coin to the bank, the byuout price would be significantly lower and bank will charge you with something like "authenticity fee" and "coins counting fee".

Gold and other precious metals sold by banks always were a way for removing or freezing money from population to cut the potential business grow. When you buy gold, the money you could potentially invest into business, or spend for goods made by businesses, just disappear from circulation. There are also other assets like state obligations that play the same role.

And the worst thing is that you can't use that gold to pay for something. There is articles in Russian Federation Criminal Code, that prohibit anything except Russian Central Bank banknotes for any local payments and a jail sentence for unauthorized circulation of precious metals bypassing banks with exception of jewerly. Even numismatists could fall into the problems if they will be caught on trade or exchange some noticeable worth of gold coins.

Of course you always able to ignore the law in person-to-person trade and we unlawfully use USD/EUR from time to time for trade, and certainly could use gold or whatever, but you have to be shure that another side of such trade deal is not some police shill and never disclose that deal to authorities.

That's not as cool as it could sound. You could buy gold from bank, but it is problematic to sell it back if you need cash, f,e,. And AFAIR, there already was no VAT for buying official gold/silver/platinum coins earlier. But if you want to sell your gold coin to the bank, the byuout price would be significantly lower and bank will charge you with something like "authenticity fee" and "coins counting fee".

Gold and other precious metals sold by banks always were a way for removing or freezing money from population to cut the potential business grow. When you buy gold, the money you could potentially invest into business, or spend for goods made by businesses, just disappear from circulation. There are also other assets like state obligations that play the same role.

And the worst thing is that you can't use that gold to pay for something. There is articles in Russian Federation Criminal Code, that prohibit anything except Russian Central Bank banknotes for any local payments and a jail sentence for unauthorized circulation of precious metals bypassing banks with exception of jewerly. Even numismatists could fall into the problems if they will be caught on trade or exchange some noticeable worth of gold coins.