Tavex buys also damaged gold and silver. Damaged goods and mint condition bars and coins have always different price setup. As a general rule any kind of damages decreases the value of the bar and coin. Tavex would like to sell our customers and product in a defensible state. It is only fo the used jewellery where the condition of the item is not relevant. Damaged gold and silver can despite of all this be sold to Tavex.

Used gold and silver items shall be melted and refined into new products. Damaged bars and coins are as a general rule always bought below market price. Therefore Tavex always reserves the right to assess the condition of the product and offer a purchase price that is in accordance with the condition with the product.

The price Tavex offers for mint products is always displayed on the product page. For the sake of transparency Tavex always displays the purchase and the sales price of the product. For example the 100g PAMP Fortuna Investment Gold Bar is sold in a sealed plastic package. If the packaging is damaged or the investment gold bar has been taken out from the packaging the purchase price will be different. Tavex is in that case not anymore able to offer the purchase price displayed on the product page. The purchase price will be the price displayed on the page for scrap gold. To avoid this, we recommend that you keep your coins in the enclosed plastic capsules. The package of the bars also need careful handling.

Make an appointment

Many people who would like to sell their gold and silver items come across a very simple question. And this question is how to sell gold and silver to Tavex. You can simply come to our store in Budapest to sell your gold or silver items, but you should make an appointment. You can sell for your products cash or get paid via a bank transfer. For bank transfer we may charge a fee. When payment is made via bank transfer, we will provide you with a receipt of payment. For selling large quantities (above HUF 4.5000.000 and more) the transfer time can take up to 5 banking days.

It is also possible to send investment gold or silver to us by post. Please contact us prior to posting the parcel. The products must be packed in a proper manner to avoid damages during transportation. We recommend to use value parcel service with distribution to our address and assign a contact person. Please attach a document with your contact information and account numbers (also in IBAN format), as well as a scan of a valid photo ID (passport, EU/EEA driver’s license and EU/EEA residence permit). As soon as we receive the package, we shall contact you to provide you the purchase price. If you do not wish to accept the offer, the package will be sent back to you at your expense.

Testing can damage your items

Tavex reserves the right to test the gold in the manner we deem necessary before the purchase is finalised. This can mean for example that your item will be cut into half, weighing, measuring and conducting a sound test.

You must contact our store in Budapest if you want to sell scrap gold and silver. You cannot send your scrap gold and silver items by post. Always remember to bring a valid photo ID. We accept  passport, EU/EEA driver’s license and EU/EEA residence permit. We can pay out in cash or by wire transfer. For the sale of scrap gold you must also have an appointment.

We hope sincerely that you received the answer to your question how to sell gold and silver to Tavex.

Currently we only accept prepayments. We cannot accept cash payments on delivery from you unfortunately. This means that you must prepay for your order before we can ship the goods to you from our stock. You can though buy investment gold and silver bullion in cash if you prepay and we can ship it to your desired location after the payment. All the shipments from us to you are fully fully insured and trackable. The responsibility transfers to you only after you have signed for the parcel and received it. You can read more about our delivery and insurance policy HERE. Please do not hesitate to call or write if you have any questions, such as whether you can pay cash on delivery.

Did you know that we use couriers who deliver the parcel personally to you? Normally you receive your parcel within one working day after we have received the payment. You should have a valid ID ready and present it to the courier. Passport, driving license and national ID qualify as valid ID documents.

Did you know that you can trace your parcel 24/7? You will be provided with the tracking number and you can trace your order whenever you want or wherever you want.

Many of us are really not aware which type of gold there exist and what exactly does Tavex buy and sell. It happens quite often that we receive inquiries with a question what is investment gold. We try to provide with clarification below. It is actually a legal term in EU. If gold items meet the criteria enacted in the law, then as a general  rule these products are not subject to VAT. This means that trading this type of gold is more attractive to consumers. In EU investment gold can be a bar or a coin. For a gold bar to qualify as investment gold, it must have a very high purity (99.9%). For gold coins the purity threshold is lower. Gold coin must be as a minimum with 90% purity.

The EU VAT directive is implemented into the domestic legislation in all member states, herein the Hungarian VAT law.

You can read more about the purity of gold bars and coins HERE. Please do not hesitate to call or write us if you have more questions about our products, herein their purity. You can find information about each product’s purity on the product page. You should click on “Details” tab for this data to appear.

Many of our customers ask us whether investment gold and silver is exempt from VAT in Hungary. You can buy and sell investment gold without any Value Added Tax in Hungary. Because Hungary is an EU member state and has fully implemented the EU VAT directive. The fact that investment gold is not subject to VAT makes trading of these goods more attractive and affordable to everyone. The reason for this is that VAT effects negatively the spread on the product. If you are interested and would like to read more about the most common terms concerning trade of precious metals please click HERE.

Silver on the other hand is not exempt from VAT in Hungary. This means unfortunately that you need to pay VAT on most of the silver products. Be aware that there is though one exception though. This exception applies to silver products that physical persons have sold back to us. To these items we can apply VAT margin scheme and means that you pay VAT only on our sales margin.

If you are interested and would to know more about VAT in EU you can read the EU VAT directive.

You can read more about the definition of investment gold HERE.

We hope we managed to answer your question whether investment gold and silver are exempt from VAT.

Many of our customers ask us frequently: does Tavex sell products that are not in stock? One of Tavex’s core values is swift delivery (we use Fedex for delivery) and it is therefore that you can only buy products from our web shop that we can ship right after we receive payment. Products that are sold out have no sales price on the price list page. For some products we have also clearly indicated that the product is out of stock. You can however still order products that are currently marked as not available in the web shop by contacting us. You should be aware that the delivery time for some products can be many weeks. For some products it is only a few days. If you would like to inquire about a product that is sold out please call or write us.

Hopefully we managed to sufficiently answer the question whether Tavex does sell products that are not in stock. If you have any additional questions, please call us +36 20 225 1515 or write us an e-mail. Our opening times are available HERE. You are also more than welcome to use our contact form which is available HERE.

Tavex is also a wholesaler of precious metals to other retailers. Every contract is tailored to the individual client. If you are a company that is interested in working as a reseller of Tavex’s products, please contact us via phone or e-mail!

Does Tavex offer discounts on large gold and silver purchases you might wonder. Specially if thinking about bigger investment of precious metals. We can make you a special offer in case of larger orders.

For orders over HUF 36 000 000 please contact us via phone or e-mail to discuss even better prices.

One of Tavex’s core values is to provide products with competitive prices and low margins. This ensures that the products are also available to the wider public. Tavex is part of the Tavex Group which operates in 11 countries. We operate for example in in Denmark, Sweden, Norway, Finland, Poland, Bulgaria, Estonia, Latvia, Poland, Romania and Hungary. The Group is Northern Europe’s largest dealer of precious metals.

In addition to that, we partner directly with globally established investment gold and silver producers. Producers who supply us with gold bars are Valcambi (producer of one of our most popular products 100g Valcambi investment gold bar). Also PAMP who supplies us 100g PAMP investment gold bar.

Austrian Mint is a supplier of the 1 oz Austrian Philharmonic Gold Coin, which is an investment product which has gained popularity among our European customers. The Austrian Philharmoniker is a pure gold (24 karat/999) investment gold coin. The producer of this coin is Austrian Mint and the face value of the coin is 100 euros.

The Perth Mint is a supplier of the 1 oz Australian Kangaroo Gold Coin, which is an investment product with one of the most competitive margins. China Great Wall Coins Investments is also a significant supplier.

It is due to these reasons we are able to offer competitive prices and low margins on our products.

Is delivery outside Hungary possible? Yes, we can ship our products all over EU though our primary market is Hungary. We use international carriers for this type of delivery (Fedex, TNT etc). You can also buy directly from another Tavex subsidiary in a specific country. See list of of Tavex offices HERE. Please call us on +36 20 225 1515 or write us an e-mail at tavex@tavex.hu for more information. You can also make an appointment and visit our office in Budapest.

Unfortunately it is not possible to order the products with the stock status ‘arrival unknown’ in our webshop. To have up-to-date information, please contact us via phone or e-mail about a possible order of such items.

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 via phone or e-mail.

The client, the payer and the recipient must be the same person, whether you pay by bank transfer, debit/credit card or cash. You can read more about our payment conditions HERE.

If you forgot to add the invoice number at the money transfer, you do not need to worry. Every invoice has a unique sum and therefore we do not usually have any problems matching your payment with your order. But we recommend that you inform us if such problem occurs. Contact us via phone or e-mail.

Before you start investing in precious metals, make sure you know the basics: what is spot, bid & ask, spread and premium?

The terms:

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 Austrian Philharmonic gold coin is €1500 and the ask price is €1540 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. This means that you, as an investor, will save money when trading in and out of your investment.

Every product that Tavex sells comes with a premium. A premium is added to cover the cost of the fabrication and distribution of the item. The premium is calculated by taking the price of a product minus the spot price of the metal. For example, if the current spot price of gold is €1520, and if Tavex sells a 1 ounce Gold Philharmonic for €1570 then the premium is €50.

We hope the main terms are clearer now for you  – the basics: what is spot, bid & ask, spread and premium.

Another rather important question about the investment gold and silver is: what are the weight and purity measurements of precious metals?

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). The latter equals approximately 28.34 grams.

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 PAMP 100 gram gold bar contains a gold fineness of 999.9, which means that the bar is 99.99% 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. Gold jewellery in Europe most often contains a gold purity of 14 and 18 karats. This equals 14/24 = 58.3% and 18/24 = 75% pure gold respectively.

We hope now you know more about the basics – what are the weight and purity measurements of precious metals?