The following blog article, numismatic specialist Numismatica Ranieri, we will find out more information regarding the figure of the professional traders in the gold of the Bank of Italy, trying to define the details of such activity according to the guidelines stated by the institute of banking of the national Italian.
Numismatica Ranieri is one of the professional activities within the official list of professional traders in gold on Italian territory. In fact, after having moved its headquarters at the city of Bologna from the year 2003, has extended the normal activity of the purchase and sale of coins and medals with including the activities of auction house, and the purchase and sale of coins, investment gold as a result of the authorization of the Bank of Italy (no. 5002449).
Who are the professional traders in gold, recognised by the Bank of Italy
Below we are going to explain more details in relation to such a professional trying to answer in a clear and detailed to the question: who are professional traders in gold, recognised by the Bank of Italy. For any further detail or pre discover the deadlines for submitting an application, you should visit the following official link.The Bank of Italy defines operator in gold professional those who devote themselves to the business of purchase and sale, in a career, for their own account or for any third party to:
- investment gold, meaning for that gold, in the form of ingots or wafers weight accepted by the market of the gold, but still greater than 1 gram, of a purity equal to or greater than 995 thousandths, whether or not represented by securities;
- gold coins of a purity equal to or greater than 900 thousandths and minted after 1800, which are or have been legal tender in the Country of origin, normally sold at a price that does not exceed 80% of the open market value of the gold contained in them, are included in the list prepared by the Commission of the european Communities and the annually published in the Official Journal of the european Communities, C series, as well as the coins having the same characteristics, even if not included in the abovementioned list;
- gold material different from that described above, for mainly industrial use, either in the form of semi-finished products of a purity of 325 thousandths or greater, or in any other form and purity.
Professional traders in gold can do more work?
According to a statement by the Bank of Italy, the exercise via the professional gold trade is compatible with the conduct of other professional activities.
What are the requirements to become an operator in gold professional ?
The exercise via the professional gold trade, for their own account or for third parties, must be notified in advance to the Bank of Italy in accordance with the procedures provided for in art. 5 of the Measure (UIC), 14 July 2000. The persons who may carry out such activities must, pursuant to art. 1, paragraph 3, of the Law of 17 January 2000, no. 7, to be in possession of the following requirements:
- legal form of a company limited by shares, a company limited by shares, limited liability company or cooperative society, having in each case, fully paid-up capital not less than the minimum for joint stock companies;
- social object that indicates the activity of the gold trade as defined by art. 1, paragraph 1, of the Law of 17 January 2000, no. 7;
- possession, on the part of the participants to the capital, directors and employees performing the function of management of technical and commercial, of the integrity requirements provided for in articles 108 and 109 of the consolidated Text of the laws relating to banking and credit, issued by the Legislative Decree 1 September 1993, no. 385 and by Decrees of the Ministry of the Treasury nn. 516 and 517 of 30 December 1998.
Are excluded from the discipline referred to in paragraph 3 of the traders that buy gold at the end of set aside for its processing industrial or craft activity or passing, exclusively in the manufacturing account to a holder of the identification mark referred to in legislative decree 22 may 1999, n. 251.
Conclusions
Hoping that this post is about the professional traders in the gold of the Bank of Italy and the traits necessary to be present in this list has been of interest to you, waiting for your opinions.
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For any information or further details of our e-mail address is the following: info@numismaticaranieri.it
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