Gold

All around the world these products represent investment gold, but in Serbia because of law restrictions regarding country of origin on these products there are additional expenses.

If products are made in the EU, Switzerland, Great Britain or Turkey they are free of additional taxes. For all other countries there is a 10% tax.

For that reason, we think these products are not the best option for investment.

All photos on the Tavex site are of real products and taken especially for the Tavex Group, however the images simply illustrate what an investment product in this category should look like.

When ordering, you will receive a product that looks like the one in the photo, with possible discrepancies in the year of issue or strictly individual features such as allowable scratches and so on.

When we say physical gold, we mean only the actual possession of investment gold bars and coins.

Gold certificates, broker accounts, exchange-traded fund units investing in gold or derivatives are examples of paper “gold” owned.

According to the Law on Value Added Tax (“Official Gazette of the Republic of Serbia,” No. 84/2004, 86/2004 – correction, 61/2005, 61/2007, 93/2012, 108/2013, 6/2014 – adjusted dinar amount, 68/2014 – new law, 142/2014, 5/2015 – adjusted dinar amount, 83/2015, 5/2016 – adjusted dinar amount, 108/2016, 7/2017 – adjusted dinar amount, 113/2017, 13/2018 – adjusted dinar amount, 30/2018, 4/2019 – adjusted dinar amount, 72/2019, 8/2020 – adjusted dinar amount, 153/2020, 138/2022, and 94/2024)

Article 36b – Investment gold, in the sense of this law, is considered to be:

• Gold in the form of bars or ingots, with a weight accepted on the precious metals market, and a purity of 995/1000 or higher;

• Gold coins with a purity of 900/1000 or higher, minted after the year 1800, that are or were legal tender in the country of origin, and which are sold at a price not exceeding 80% of the value of the gold they contain.

Investment gold, in the sense of this law, does not include monetary gold.

It is considered that gold coins referred to in paragraph 1, item 2 of this article are not regarded as collector’s items, in accordance with Article 36 of this law, and are not sold for numismatic purposes.

According to the Law on Value Added Tax (“Official Gazette of the Republic of Serbia,” No. 84/2004, 86/2004 – correction, 61/2005, 61/2007, 93/2012, 108/2013, 6/2014 – adjusted dinar amount, 68/2014 – new law, 142/2014, 5/2015 – adjusted dinar amount, 83/2015, 5/2016 – adjusted dinar amount, 108/2016, 7/2017 – adjusted dinar amount, 113/2017, 13/2018 – adjusted dinar amount, 30/2018, 4/2019 – adjusted dinar amount, 72/2019, 8/2020 – adjusted dinar amount, 153/2020, 138/2022, and 94/2024)

Article 36b 

• The sale and import of investment gold, including investment gold whose value is specified in certificates for allocated or unallocated gold, gold traded through a gold trading account, including gold loans and exchanges (swap transactions) that involve ownership rights or claims related to gold, as well as activities related to investment gold based on futures and forward contracts, the result of which is the transfer of the right to dispose of or the right to claim investment gold;

• The sale of intermediary services where the intermediary, on behalf and for the account of the client, conducts the trade of investment gold.

Investment gold has been sold without VAT since 1 April 2018.

Yes, you can lock (fix) a price via phone until the end of the working day. Tavex considers a transaction to be concluded at the moment when we have fixed a certain price over the phone or you have completed your order from the online store.

Regardless of the movements in the price of gold after that (up or down) we make a deal at the locked price.

To order online, follow these six simple steps:

1. Choose your products
   Browse through our product category list (Gold Bars | Gold Coins | Silver Bars | Silver Coins) and add the desired items to your shopping cart by clicking the “Add to Cart” button.

2. Review your cart
   Your cart provides an overview of the total value of your order and allows you to easily add or remove previously selected items. When you’re ready to finalize your order, simply click the “Checkout” button located in the bottom right corner of your cart window.

3. Checkout
   In the checkout window, we will ask you to choose a delivery option:

• Personal pickup

• Home delivery

• Delivery to a parcel locker / courier service location (parcel shop)

Except for personal pickup, any selected delivery method includes a delivery insurance fee (”Osiguranje isporuke”), which amounts to 1% of the total value of your selected products.

Next, enter the required personal information, either as a registered user or a guest. You will also need to select a payment method (cash or bank transfer). Check that all the information has been entered correctly, and then click the “Confirm Order” button located in the bottom corner of the checkout window.

Note: If you choose delivery via courier service, the maximum value of a single cart is 760,000 RSD. If you order products exceeding this amount, your order will be split into two (or more) shipments within the maximum limit, but you will only be charged one delivery fee.

If the shipment contains silver products, VAT is calculated based on the price of the silver product, including postage and insurance.

4. Confirmation
   Your order is now placed. An invoice containing payment details and instructions will be automatically sent to the email address you provided during the order process.

5. Make the payment
   The transfer of your funds may be immediate or take 1–2 business days depending on your bank. We will notify you by email or phone as soon as your payment is received. The amount paid must match the invoice exactly.

6. Receive your products
   Depending on the delivery option you selected, your products will be delivered via Dexpress or will be ready for personal pickup at our office.

You can place a order in our website tavex.rs or visit our office at: Belgrade, boulevard Mihajla Pupina 6 , UŠĆE Tower 1, floor 15

*We have a secured parking in front of the building. In case that there are no free spaces, you can park in shopping center Ušće.

The order will automatically be cancelled if payment is not made within one hour of placing the order. If you want to cancel your order, please contact us.

Physical investment gold and silver can be stored anywhere. Most often in:

• safe;
• hiding place in the house;
• bank cassette;
• public vault.

The most important thing to protect gold and silver from injury is to keep it in the original vacuum package (for bars and some coins) or in a special capsule. Do not pinch your investment products with heavy objects and do not place them near substances dangerous to them (nitric acid).

The spot is the current market-clearing price of gold or silver that is set by factors of supply and demand in the global financial markets. The spot price refers to 1 troy ounce of .999 fine gold or silver.

The bid (or buy as a layman’s term) is the price at which market participants, such as Tavex, are ready to buy gold or silver at any given time.

The ask (or sell as a layman’s term) is the price at which market participants, such as Tavex, are ready to sell gold or silver at any given time.

The spread is the difference between the ask and the bid price. For example, if the bid for a 1 ounce Gold Philharmonic is €1000 and the ask price is €1040 then the “bid-ask spread” is €40. A low bid-ask spread is often a good indicator of high liquidity. Products with high liquidity, such as the Gold Philharmonic coin, will have a lower bid-ask spread compared to other less well-known gold coins, which means that you, as an investor, will save money when trading in and out of your investment.

Although the weight of gold and silver is sometimes quoted in kilograms or grams, the official weight measurement to gauge the mass of precious metals is the troy ounce. One troy ounce (oz) equals 31.1034768 grams. Note that a troy ounce is not the same as an avoirdupois ounce (more commonly known as the kitchen ounce) which equals approximately 28.34 grams.

• 1 oz = 31,10
• 1/2 oz = 15,55
• 1/4 oz = 7,78
• 1/10 oz = 3,10
• 1/20 oz = 1,55

The purity of gold and silver is measured in millesimal fineness, which denotes the purity of the metal in parts per thousand. For example, the Valcambi 100 gram gold bar contains a gold fineness of 999.9, which means that the bar is 99.99% pure gold. Another example, the Napoleon with a gross weight of 6.45 grams contains a gold fineness of 900, which denotes a gold purity of 90% or 6.45 x 0.9 = 5.81 grams of pure gold.

In addition to fineness, the traditional purity measurement of gold is the karat (K). The highest karat rating is 24 and this equals or is greater than 99.9% pure gold. Example for this is the Gold Philharmonic which is 24 karats. Another example is the Gold Ducat , which purity is 0.986 and means it is 23.66 karats(0.986 x 24).

Purity to karat:

• 0,900 = 21.6K
• 0,917 = 22K
• 0,986 = 23,66K
• 0,999 = 24K

As fine gold coins and bars are extremely soft, they can very easily be damaged. Product’s value is decreased when gold is scratched, bent or the original package has been opened.

Here are some suggestions on how to properly handle gold coins to avoid damage and loss of value:

• Do not remove coins or bars from their package (plastic capsule, vacuum pack) unless it is absolutely necessary.
• Always pick up coins and bars only by their edges.
• Never touch gold anywhere on its surface as fingerprints may reduce the value. Fingerprints cannot be removed from the mirror surface. Be aware that even the finest cloth makes small tiny scratches on the surface of a coin.
• If you need to touch gold products, it advisable to wear white, clean cloth gloves.
• Never try to bite gold to test its softness.
• Try not to let one coin touch another as nicks and scratches can result.
• Do not drag coins across any surface.
• When removing coins from a holder is necessary, place them on a clean, soft surface. A velvet pad is an ideal surface. A clean soft cloth or clean piece of blank paper may be sufficient for harder coins (coins with gold proof 900-917).

PS! The above applies mainly to gold coins with very high purity(0,999) and bars. Many historical gold coins have been in circulation and are therefore scratched and nicked. Gold market value has preserved in spite of that.