Accounting for operations with commemorative coins

1. These Rules for the Sale of Precious Metal Coins remotely(hereinafter referred to as the Rules) govern legal relations between JSCB Transstroybank (JSC) (hereinafter referred to as the Bank) and individuals when individuals purchase precious metal coins from the Bank through the Bank's website on the Internet information and telecommunication network.

2. Unless otherwise follows from the context, the following terms have the following meanings:

"Seller" or "Bank" - Joint Stock Commercial Bank Transstroybank (Joint Stock Company) (abbreviated name JSCB Transstroybank (JSC)), General Banking License No. 2807, issued by the Bank of Russia, location: 115093, Moscow, st. . Dubininskaya, 94;

"Buyer" - a citizen who intends to order or purchase or ordering, acquiring or using the Goods solely for personal, family, household and other needs not related to business activities;

"Remote sale of goods" - the sale of goods under a retail sale and purchase agreement concluded on the basis of the buyer's acquaintance with the description of the goods proposed by the seller contained in catalogs, brochures, booklets or presented in photographs or using postal networks, telecommunication networks, including including the information and telecommunications network "Internet", as well as communication networks for broadcasting TV channels and (or) radio channels, or in other ways that exclude the possibility of direct acquaintance of the buyer with the goods or a sample of the goods when concluding such an agreement;

"Site" - the website of the Bank www.tsbnk.ru in the information and telecommunications network "Internet";

"Goods" - coins made of precious metals offered by the Bank for sale by posting relevant information about them on the Site;

"Order" - a message issued by the Buyer on the Site to the Seller about the intention to purchase the Goods.

3. The Seller and the Buyer guarantee that they have the necessary legal and legal capacity, as well as all the rights and powers necessary and sufficient for the conclusion and execution of the contract for the retail sale of the Goods.

4. When ordering Goods through the Site, the Buyer unconditionally accepts and agrees to these Rules.

5. The contract for the retail purchase and sale of the Goods is considered concluded from the moment the Order is placed on the Website. The ownership of the Goods passes from the Seller to the Buyer from the moment of full payment and receipt of the Goods by the Buyer.

6. The Seller must ensure the confidentiality of personal data about the Buyer in accordance with the law Russian Federation in the field of personal data.

Expressing intentions to conclude a contract for the retail sale of the Goods, the Buyer gives his consent to the Bank for automated and non-automated processing (collection, systematization, storage, accumulation, clarification (updating, changing), use, blocking, depersonalization, destruction, distribution (including transfer , cross-border transfer) with the transfer both over the internal network of the Bank and with the transfer over public communication networks (Internet), as well as for other actions, in accordance with the legislation of the Russian Federation, the Buyer's personal data:

• surname, name, patronymic (if any), including the former ones;
• Date of Birth;
• Place of Birth;
• citizenship;
• passport data or data of another identity document (series, number, date of issue, name of the authority that issued the document, subdivision code (if any));
• place of residence (registration) or place of stay;
• delivery address, phone number to contact the Buyer;
• E-mail address.

Consent to the processing of personal data is provided for the purpose of concluding and executing a contract for the retail sale of the Goods, as well as for the purpose of conducting research aimed at improving the quality of the services and Goods provided, including for marketing programs and research, statistical research.

The Bank is also granted the right to receive information and documents from third parties in order to verify the accuracy and completeness of information about the Buyer.

The processing of personal data is carried out using the following main methods: recording, compiling lists on paper and electronic media, recording on electronic media, storing paper and electronic media containing personal data, as well as other processing methods.

Consent may be withdrawn by the Buyer by sending a relevant notice to the Bank.

The Seller, among other things, has the right to transfer the Buyer's personal data to a specialized communication service, Russian post, transport companies or other persons in order to deliver the Goods to the Buyer and receive money from the Buyer for the Goods.

7. The Buyer undertakes to familiarize himself with the content and conditions established in the Rules, as well as with other conditions specified on the Site, including the prices for the Goods, before placing the Order.

8. Prior to the conclusion of the contract for the retail sale of the Goods, the Buyer must provide the Bank with copies of an identity document and other documents necessary to identify the Buyer in accordance with the requirements of the legislation of the Russian Federation.

9. ORDERING

9.1. The Order is executed by the Buyer by filling out the electronic Order Form on the Website.

9.2. When placing an Order through the Site, the Buyer fills out an electronic Order form and sends the generated Order to the Seller by confirming the Order in electronic form.

9.3. Confirmation by the Buyer of the Order to the Seller means the familiarization and consent of the Buyer with the Rules.

9.4. The Buyer has the right to change the Order before the Seller transfers the ordered Goods to a specialized communication service, Russian post, transport company or other persons for delivery to the Buyer, by notifying the Seller by phone or e-mail. The Order is considered changed after the Seller confirms the change in the Order.

9.5. If the Buyer has additional questions regarding the properties and characteristics of the Goods, delivery terms, return, exchange of goods, etc., before placing the Order, the Buyer must contact the Seller by phone or e-mail to obtain the necessary additional information. The absence of such requests indicates the sufficiency of the information available to the Buyer to conclude a contract for the retail sale of the Goods.

10. DELIVERY OF GOODS

10.1. Delivery of goods is carried out by the Seller or a specialized communication service, Russian post, transport companies or other persons. The Buyer has the right to personally receive the Goods at the Seller's address specified in clause 12.5 of these Rules.

The method of receiving the Goods is chosen by the Buyer when placing the Order.

10.2. Delivery of the Goods is carried out at the address of the Buyer specified by him when placing the Order.

10.3. Payment by the Buyer for the delivery of the Goods is carried out simultaneously with the payment for the Goods.

10.4. In case of refusal of the Buyer from the Goods, the Buyer undertakes to pay the cost of delivery of the Goods.

10.5. Upon receipt of the Goods, the Buyer checks the compliance of the delivered Goods with the terms of the Order, including completeness, appearance, safety of seals, factory labels.

Acceptance of the Goods is confirmed by the Buyer's signature on the form of the accompanying document. The absence of the Buyer's claims upon receipt of the Goods by him confirms the proper fulfillment by the Seller of his obligations under the contract for the retail sale of the Goods.

10.6. Delivery is carried out by road or other means of transport, depending on the place of delivery.

10.7. The term and cost of delivery are determined when placing an Order, depending on the place of delivery.

11. PAYMENT FOR GOODS

11.1. The prices for the Goods are determined by the Seller and are indicated on the Site.

11.2. The Buyer can order only the Goods that the Seller has in stock at the time of placing the Order.

11.3. Payment for the Goods by the Buyer is made in rubles, in a non-cash manner by using an electronic means of payment (payment card). Payment is made either through the Site when placing an Order, or through a POS-terminal upon receipt of the delivered Goods. The choice of payment method is determined when placing an Order.

11.4. Delivery of goods outside the boundaries of the Moscow region (Moscow city and Zelenograd city)

is carried out on the terms of full prepayment by the Buyer of the Order when placing it.

11.5. The ordered Goods are delivered personally to the Buyer.

12. RETURN OF GOODS

12.1. The buyer has the right to refuse the goods at any time before its transfer, and after the transfer of the goods - within 7 days.

12.2. Return of the Goods of good quality is possible if its presentation, consumer properties, as well as a document confirming the fact and conditions of purchase of the specified goods are preserved. The Buyer's lack of this document does not deprive him of the opportunity to refer to other evidence of the acquisition of the Goods from the Seller.

12.3. The Buyer is not entitled to refuse the Goods of proper quality, having individually defined properties, if the specified Goods can be used exclusively by the Buyer.

12.4. If the Buyer refuses the Goods, the Seller must return to him the amount paid by the Buyer in accordance with the contract for the retail sale of the Goods, with the exception of the Seller's expenses for the delivery of the returned Goods from the Buyer, no later than 10 days from the date of presentation by the Buyer of the relevant demand.

12.5. The goods can be returned to the address of the Seller: 115093, Moscow, st. Dubininskaya, d. 94., on weekdays from 9:00 to 18:00 Moscow time.

12.6. When the Buyer returns the Goods of good quality, an invoice or an act on the return of the Goods is drawn up, on the basis of which the Buyer returns the Goods to the Seller. Refusal or evasion of the Seller from drawing up an invoice or an act does not deprive the Buyer of the right to demand the return of the Goods and (or) the return of the amount paid by the Buyer in accordance with the contract of retail sale of the Goods. The term for the return of funds is 10 days from the date of transfer of the returned Goods to the Seller and the provision by the Buyer of the relevant written request (application).

12.7. When returning the Goods of good quality to the Buyer, the cost of the Goods paid by him to the Seller is returned, except for the cost of delivering the Goods to the Buyer. The Buyer's expenses for returning the Goods of proper quality to the Seller are not reimbursed by the Seller.

12.8. In case of returning the Goods of good quality, the Seller accepts the Goods subject to the following conditions by the Buyer:

12.8.1. When the Buyer returns the Goods, the Buyer must execute and submit to the Seller an Application for the return of the Goods, which must indicate:

• full corporate name of the Seller;
• surname, name, patronymic of the Buyer, address, contact phone number;
• information on the Goods and its payment;
• date of transfer of the Goods to the Buyer and return to the Seller;
• the amount to be returned; payment details of the Buyer.

12.8.2. Return of Goods of good quality is possible if:

• the product was not in use, its presentation was preserved (original packaging (without damage), factory labels, seals, tags, etc.);
• the consumer properties of the Goods are preserved;
• availability of documents for the Goods confirming the fact of purchasing the returned Goods from the Seller (cash receipt, sales receipt, postal receipt or other document confirming the purchase of the goods from the Seller).

12.9. If the above conditions are not observed, the Seller has the right to refuse to return the Goods.

12.10. The Buyer, to whom the goods of inadequate quality are sold, if this has not been agreed by the Seller, has the right to demand at his choice:

• gratuitous elimination of defects in the Goods or reimbursement of expenses for their correction by the Buyer or a third party;
• proportional reduction of the purchase price;
• replacement for a Product of a similar brand (model, article) or for the same product of another brand (model, article) with a corresponding recalculation of the purchase price. At the same time, in relation to technically complex and expensive goods, these requirements of the Buyer are subject to satisfaction in case of detection of significant shortcomings.

The Buyer, instead of presenting the specified requirements, has the right to refuse to fulfill the contract for the retail sale of the Goods and demand the return of the amount paid for the Goods. At the request of the Seller and at his expense, the Buyer must return the goods with defects.

The buyer also has the right to demand full compensation for losses caused to him as a result of the sale of goods of inadequate quality. Losses are reimbursed within the time limits established by the law of the Russian Federation "On Protection of Consumer Rights" to meet the relevant requirements of the buyer.

12.11. Refunds for the Goods returned by the Buyer to the Seller are made in a cashless manner according to the details specified in the application by the Buyer.

Refunds for Goods and services paid for by bank transfer cannot be made in cash.

13. Legal relations between the Buyer and the Seller are governed by the legislation of the Russian Federation.

14. These Rules are an integral part of the contract for the retail sale of the Goods.

15. The offer to conclude a contract for the retail sale of the Goods is valid without a time limit.

16. Service life, shelf life and warranty period is not established.

17. The Seller has the right to transfer the Goods, which were previously owned by third parties.

As a rule, commercial banks offer the following services to individuals in the precious metals market:

1. Purchase and sale of measured ingots of precious metals. Measured bars are produced and marked by Russian refineries in accordance with current state standards, weighing 1, 5, 10, 20, 50, 100, 250, 500, 1000 grams, accompanied by certificates and passports of manufacturers. Banks conduct transactions with gold bars based on daily changing quotes.
2. Impersonal metal accounts. At present, it is very risky to give preference to one type of savings, therefore, people's interest in precious metals, which can be bought and stored in banks on depersonalized metal accounts (OMS), has noticeably increased.

Bank of Russia Regulation No. 50, dated November 1, 1996, "On the Transactions by Credit Institutions with Precious Metals in the Territory of the Russian Federation and the Procedure for Conducting Banking Operations with Precious Metals" approved by Order No. 02-400 of the Bank of Russia dated November 1, 1996, introduced the following concept of impersonal metal accounts are accounts opened by a credit institution to account for precious metals without specifying individual characteristics and carrying out operations to attract and place them.

An impersonal metal account is an analogue of a client’s regular ruble account, only it does not account for rubles, but depersonalized precious metals (in grams), but without specifying specific individual features of measured bars (number of bars, sample, manufacturer, serial number, etc.). A metal account can be opened in precious metals such as gold or silver, platinum or palladium.

To open an unallocated metal account, an individual must have:

• Passport or other identity document;
• Certificate of registration with the tax authority (TIN) - if available;
• Funds for the purchase of precious metal or dimensional ingots of precious metal owned by the client with certificates and passports of manufacturers.

Private entrepreneurs without education legal entity to open an impersonal metal account, provide the bank with:

• an application for opening an unallocated metal account indicating the name of the precious metal and the types of operations performed;
• document on state registration (copy certified by the state registration authority or notarized);
• registration card in GIPN (for working with metal in physical form);
• a notarized copy of the State Tax Inspection certificate of tax registration;
• a copy of the identity document of the client;
• bank card with sample signatures.
• other documents according to the conditions of a particular bank.

The amount of funds required to purchase a precious metal at the time of opening a metal account cannot be less than the cost of the minimum amount of precious metal (in grams) established by a particular bank for a purchase / sale transaction.

The number of ingots for opening an account is not limited, but they must be of excellent quality and with indication of individual characteristics (sample, ingot number, year of issue, weight, brand). For each measured ingot, a certificate and a passport of the manufacturer must be presented.

The opening of a metal account for an individual is carried out on the basis of signing an agreement with a bank for opening and maintaining such an account, then the funds or bullions are exchanged for "non-cash" precious metal and credited to the account in grams. After that, the client is given his copy of the contract. In some banks, such as Sberbank of Russia, a savings book is also issued, which reflects the amount of precious metal in grams. And in some banks, the procedure for opening an account begins with writing an application for opening an account according to the standard form established by the bank. Below is a classification of unallocated metal accounts.

According to the terms of operation, metal accounts are divided into:

• On demand - when the period of storage of the precious metal under the contract is not limited.
• Urgent - when a specific term for the return of savings is established under the contract. Such a period is negotiated when opening deposits in precious metals, in accordance with the conditions of a particular type of deposit.

By profitability, depersonalized metal accounts can be conditionally divided into two types:

• Metal accounts without accrual of interest income. The income of CHI owners is formed only due to the growth in the cost of precious metals in world markets, if any.
• Metal accounts with accrual of interest income. Interest income is accrued only if the metal account is issued as a deposit in precious metals with a specific retention period. The total income of deposit holders is formed from interest accrued in precious metals (grams) and the increase in the value of precious metals on world markets over this period.

The possibility of generating income due to the growth in prices for precious metals in the world market is confirmed by the dynamics of the accounting prices of the Central Bank of the Russian Federation for gold, silver, platinum and palladium on certain dates.

Storing savings in the form of precious metals on depersonalized metal accounts has a number of features:

• No VAT on the purchase of "non-cash" precious metal;
• Possibility of replenishment or partial reduction of the account balance “on demand”;
• No problems with storage, certification and transportation of physical metal;
• A simplified procedure for the purchase and sale of an "impersonal" precious metal.
• The possibility of opening an account in favor of third parties.
• Preservation of funds from inflation.

In addition to the above features, which banks always warn their customers about, there are more serious features. So, for example, the storage of funds in depersonalized metal accounts is not subject to the Federal Law No. 177 - FZ of December 23, 2003 "On insurance of deposits of individuals in banks of the Russian Federation." Therefore, in the event of an insured event (bankruptcy of a bank or revocation of a license due to violations of the law), the Deposit Insurance Agency will not make insurance indemnities on the deposits of depositors who keep their funds in depersonalized metal accounts, about which I received official confirmation from the Agency .

When the client withdraws the precious metal from the account in physical form, i.e. in ingots, the cost of the ingot will include VAT, even if the client credited the precious metal to an unallocated metal account by transferring (selling) the precious metal ingots in physical form to the bank.

Upon closing the account, the return of savings is carried out:

• By selling the "non-cash" precious metal at the rate of the bank and receiving funds - in rubles;
• By removing the precious metal in the form of measured ingots in physical form (from the Bank's vault), with the payment of VAT (18% of the value of the metal).

Opening and maintenance of depersonalized metal accounts

An impersonal metal account is intended for crediting, storing and debiting the client's precious metals without specifying the individual characteristics of the bars (bar number, weight, brand, year of manufacture) and conducting transactions for the sale and purchase of precious metals in a non-cash form. Precious metals accounted for on unallocated metal accounts have a quantitative characteristic of the mass of the metal and a valuation.

The purchase and sale of precious metals with crediting to an unallocated metal account (without withdrawal from the bank vault) allows the client to avoid paying value added tax, so the conditions for the circulation of precious metals are similar to those for other financial assets.

The Bank accepts to unallocated metal accounts precious metals in Russian-made bullion bars that comply with state standards and technical conditions in force in the Russian Federation.

The rate at which transactions with precious metals are carried out depends on current world prices and the volume of transactions. When receiving precious metals from a metal account in the form of ingots, the bank charges VAT and a commission for the operation.

Purchase and sale of commemorative and investment coins made of precious metals

The commemorative coins have a unique design, artistic and numismatic value, are produced with the highest quality proof mintage, which makes them an excellent gift, dedicated to significant events in the history of Russia, monuments of culture and architecture, sports events and the natural wealth of the planet.

Investment coins should be distinguished from commemorative or numismatic (collectible) coins, whose value is determined by rarity, quality of minting and historical value, and not by content. pure metal. Therefore, coins with collectible value do not change in price depending on fluctuations in world gold prices and are sold at a higher (numismatic) price compared to bullion coins.

Loans secured by precious metals

In addition to selling coins from precious metals, opening depersonalized metal accounts, commercial banks usually offer customers a loan service secured by precious metals. In this case, the client is given cash cash, and precious metals (for example, in bullion) are placed in the bank's vault for safekeeping.

Thus, a commercial bank acts akin to a pawnshop. At the same time, you can get a much larger loan for the same bar in a bank than anywhere else.

Before taking the bars as collateral, the bank carefully checks the bars with the help of special non-destructive testing equipment. This procedure sometimes takes up to several hours. If the bullion is determined as meeting the standard, the bank makes a decision to issue a loan.

"Taxation, accounting and reporting in a commercial bank", 2011, N 2

The sale of commemorative coins allows banks to expand the range of services provided, attract additional customers and increase the share of non-interest income. However, such operations are associated with the need to keep records not only of the coins themselves, but also of their packaging, which has its own value. There are other features of accounting for transactions with coins.

The concept and specifics of circulation of commemorative coins

Before considering the procedure for accounting and taxation of operations of credit institutions with commemorative coins, let's turn to the definition - what exactly is invested in the concept of "commemorative coins".

As part of its issuing activities, the Bank of Russia puts into circulation commemorative coins made of precious and base metals and investment coins from precious metals, which are distributed both in our country and abroad. Given the peculiarities of the technological process of minting, coins can be divided into two main groups (according to the Bank of Russia website www.cbr.ru):

• performed as "proof" (or "proof like");
• performed in normal (A / C) or improved (B / A) quality.

Proof quality coins are produced by a method that allows to obtain a clean, mirror-like field and a matte relief image and inscriptions on the surface. As a rule, these are collectible coins, the release of which is timed to coincide with anniversaries and anniversaries, significant events of history and modernity, or is dedicated to topical issues of culture, protection environment, other topics. The drawings of their reverses are often complex in composition, multifaceted; the inscriptions indicate the subject to which the issue is devoted.

Coins of ordinary quality are the products of traditional highly automated minting production: exchange rate and change coins(circulating at face value as real means of payment), as well as coins made of precious metals for investment purposes, the circulation of which can reach several million pieces. Coins made of precious metals for investment purposes include:

• "George the Victorious" - gold coins with a face value of 50 rubles. and silver coins with a face value of 3 rubles;
• "Chervonets" - gold coins with a face value of 10 rubles;
• "Sable" - silver coins with a face value of 3 rubles.

All other coins issued by the Bank of Russia containing precious metals, with the exception of those listed above, are commemorative coins, which are also called collection coins. At the same time, despite the fact that such coins can be collectible, they are also legal tender and should be accepted for payment at face value without any restrictions. It is this dual purpose of commemorative coins that entails the peculiarities of accounting for transactions with them.

On the one hand, since commemorative coins are legal tender, they should be recorded on the balance sheet of a credit institution as cash, and their nominal value should be reflected in cash accounts (cash).

On the other hand, commemorative coins are made containing precious metals and have artistic and collectible value. Thus, their actual value is many times higher than the face value. Therefore, when maintaining accounting records, in order to draw up complete and reliable reporting, it is logical to assume that the bank's balance sheet should reflect not only the nominal, but also the actual value of commemorative coins. This is indirectly evidenced by the requirements of Clause 1.12.4, Part I of Regulations of the Bank of Russia dated March 26, 2007 N 302-P "On the rules for maintaining accounting in credit institutions located on the territory of the Russian Federation" (hereinafter - Regulation N 302-P), according to which the accounting policy of a credit institution should ensure the prevention of the creation of hidden reserves by deliberately understating assets or income and deliberately overstating liabilities or expenses.

In order to understand how both of these concepts are embodied, let us turn to the accounting procedure for operations with commemorative coins provided for by the Bank of Russia.

Accounting for operations with commemorative coins The first approach. Reflection of commemorative coins as a means of payment

The chart of accounts for accounting in credit institutions, approved by Regulation N 302-P, for accounting for operations with commemorative coins provides for:

• account 47414 (P) "Payments for the acquisition and sale of commemorative coins" and
• account 47415 (А) "Requirements for payments for purchased and sold commemorative coins".

According to paragraph 4.63 of part II of Regulation N 302-P, they are intended to account for the amounts spent by a credit institution on the purchase of commemorative coins and received by it for their sale.

The characteristics of account 47414 "Payments for the purchase and sale of commemorative coins" provide that the value of the coins received is posted on its loan at the selling price in correspondence with the cash account at face value, the account for accounting for expenses for the difference between the face value and the selling price of the Bank of Russia . The debit also reflects the amounts transferred to the Bank of Russia for commemorative coins in correspondence with the correspondent account.

Thus, the following accounting entries are assumed for the credit of account 47414 "Payments for the acquisition and sale of commemorative coins".

For the value of the nominal value of commemorative coins, the posting is carried out:

For the amount of the difference between the nominal and selling prices of the purchased commemorative coins, the posting is carried out:

Dt 70606 "Expenses"

Kt 47414 "Payments for the acquisition and sale of commemorative coins".

At the same time, it is not specified at what point the second posting should be carried out - when purchasing or selling commemorative coins.

When selling commemorative coins, clause 4.63 of part II of Regulation N 302-P prescribes the following accounting entries:

Dt 30102 "Correspondent accounts of credit institutions with the Bank of Russia";

Dt 20202 "Cash desk of credit organizations" - for the amount received from the sale of coins;

Kt 20202 "Cash desk of credit institutions" - in the amount of the nominal value;

Kt 70601 "Income" - for an amount exceeding the face value of the coins.

Considering that the indicated transactions, which should be reflected when selling commemorative coins, do not imply the use of accounts 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins", it is logical to assume that the write-off of the difference between the nominal and selling prices of purchased commemorative coins should occur at the time of their purchase.

However, in this case, until the moment of sale, commemorative coins will be reflected on the bank's balance sheet only at their nominal value, which will not fully reflect both their purpose and actual value. In addition, this procedure will be contrary to clause 1.12.11, part I of Regulation N 302-P, according to which assets must be accepted for accounting at their original cost. In this case, a significant part of the initial cost of the asset (commemorative coin), namely the difference between the face value and selling price, will be expensed at the time of initial recognition of the asset. A logical question arises: which of the above requirements of Regulation N 302-P is more priority - the characteristics of accounts 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins" or general accounting principles?

It is necessary to clarify how the initial cost of commemorative coins is determined and what should be the accounting procedure for their acquisition and sale.

Second approach. Reflection of commemorative coins as an investment object

Recall that credit institutions, along with the characteristics of accounts, must use the regulations of the Bank of Russia on banking operations and the procedure for reflecting them in accounting, as indicated in clause 1, part II of Regulation N 302-P. Currently, the following regulatory documents of the Bank of Russia are in force regarding the circulation and accounting of operations with commemorative coins:

• Bank of Russia Directive No. 1614-U of September 19, 2005 "On the Procedure for Issuing Commemorative and Investment Coins by the Bank of Russia to Resident Credit Institutions" (hereinafter referred to as Directive No. 1614-U);
• Bank of Russia Directive No. 224-U, dated May 8, 1998, "On the Temporary Procedure for the Use of Balance Accounts 47414 and 47415 by Credit Institutions" (hereinafter referred to as Directive No. 224-U).

According to clause 13 of Directive N 1614-U, coins are accounted for by credit institutions at purchase prices and are not subject to revaluation. Indeed, in this case, accounting at the acquisition price will comply with the requirement of clause 1.12.11, part I of Regulation N 302-P that assets should be accepted for accounting at their original cost. The initial cost in the case of the purchase of coins from the Bank of Russia (or, in other words, the selling price) includes the following components (clause 3 of Directive N 1614-U): the face value of the coins, the value of the precious metals contained in them, the cost of production of coins and invoices expenses for their delivery from the mints to the vaults.

But if commemorative coins should be accounted for at their original cost, then in what accounts? The answer to the question is given by Instruction N 224-U. This regulatory document confirms the well-known saying that there is nothing more permanent than temporary: it was adopted back in the days of the "Accounting Rules in Credit Institutions ..." dated 18.06.1997 N 61, successfully survived the introduction of the Regulations of the Bank of Russia dated 05.12.2002 N 205-P, in which, by the way, the characteristics of accounts 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins" were exactly the same as now, and continues act to this day.

The procedure for the use by credit institutions of balance accounts 47414 "Payments for the acquisition and sale of commemorative coins", 47415 "Requirements for payments for purchased and sold commemorative coins", established by Ordinance N 224-U, is as follows:

• accounts 47414 "Payments for the purchase and sale of commemorative coins", 47415 "Requirements for payments for purchased and sold commemorative coins" reflect the difference between the payment to a credit institution for commemorative coins at the purchase price (or proceeds for the sold commemorative coins at the sale price) and face value coin value;
• to account for the amounts of payments for purchased commemorative coins and the amounts of proceeds from their sale, credit institutions must use balance accounts 47422 "Bank liabilities for other operations" and 47423 "Bank claims for other operations" in the prescribed manner.

Therefore, to account for settlements for the purchase and sale of commemorative coins, Ordinance N 224-U prescribes the use of accounts 47422 "Bank obligations for other operations" and 47423 "Bank claims for other operations", and not account 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins". In turn, accounts 47414 "Payments for the purchase and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins" will reflect the difference between the nominal value and the purchase (sale) price of commemorative coins, which, as indicated above, according to the characteristics of these accounts, should have been written off as expenses (income). Thus, the above concept of accounting for assets at their acquisition price will be implemented, and it will also ensure that the balance sheet reflects not only the nominal, but also the actual value of commemorative coins during the period they are owned by a credit institution.

Accounting for the purchase of commemorative coins

Before proceeding to the consideration of specific postings, let's turn to the requirements of tax legislation.

According to paragraphs. 11 p. 2 art. 149 of the Tax Code of the Russian Federation are not recognized as an object of taxation for value added tax transactions for the sale in the territory of the Russian Federation of coins made of precious metals (with the exception of collectible coins), which are the currency of the Russian Federation or the currency of foreign states. At the same time, collectible coins made of precious metals include coins made of precious metals, which are the currency of the Russian Federation, minted using a technology that provides a mirror surface. Consequently, the sale of commemorative coins does not fall under the said exemption and must be subject to VAT in the prescribed manner.

As a result, based on the combined requirements of Regulation N 302-P and Directive N 224-U to the extent that they do not contradict each other, as well as the Tax Code of the Russian Federation, we obtain the following accounting procedure for the purchase of commemorative coins (both from the Bank of Russia and from third parties persons):

Transfer of funds for purchased commemorative coins:

Kt 30102 "Correspondent accounts of credit institutions with the Bank of Russia";

Kt 20202 "Cash desk of credit institutions";

CT of the client's account - by the amount of the purchase price (sales price) of commemorative coins.

Getting coins:

Dt 20202 "Cash desk of credit institutions" - in the amount of the nominal value of coins;

Dt 47415 "Requirements for payments for purchased and sold commemorative coins" - for the difference between the selling price and the face value of the coins;

Dt 60310 "Value added tax paid" - by the amount of VAT paid to the seller

Kt 47423 "Bank claims for other operations" - by the value of the purchase price (sales price) of commemorative coins.

If the supply of coins occurs first, then the debit entries of accounts 20202 "Cash desk of credit organizations", 47415 "Bank claims for other operations", 60310 "Value added tax paid" are in correspondence with account 47422 "Bank liabilities for other operations" , and upon payment, the corresponding amount is debited to the debit of account 47422 "Bank's obligations for other operations."

Further, depending on the bank's accounting policy in terms of value added tax, the paid VAT is either deductible or expensed (if the bank applies the right granted by paragraph 5 of article 170 of the Tax Code of the Russian Federation). In the latter case, I would like to note only one nuance - the VAT paid when purchasing commemorative coins should be charged to expenses at the time of their sale or withdrawal from the bank for other reasons. In other words, the specified amounts of VAT must be recorded on account 60310 "Value added tax paid" as long as the value of the corresponding commemorative coins is recorded on the bank's balance sheet. The rationale for this position will be given in the second part of the article "Tax accounting of operations with commemorative coins" in the next issue of the journal.

So, the cost of commemorative coins purchased by the bank before the date of their retirement is reflected in accounts 20202 "Cash desk of credit institutions" - in terms of nominal value, 47415 "Requirements for payments for purchased and sold commemorative coins" - in terms of the difference between the acquisition cost (excluding VAT) and nominal value and on account 60310 "Value added tax paid" - in terms of VAT.

A similar approach to the procedure for using account 47415 "Requirements for payments for purchased and sold commemorative coins" and accounting for the acquisition of commemorative coins is also followed by the Department for Organizing Accounting, Reporting and Settlements of the Moscow State Technical University of the Bank of Russia in response to private questions ("Banks and business world", N 12/2008), with the exception that the publication does not include VAT entries.

We also note that, in accordance with clause 1.12.12 of Regulation N 302-P, valuables and documents recorded in balance sheet accounts are not reflected in off-balance sheet accounts, except as provided for by these Rules and Bank of Russia regulations. Neither Regulation N 302-P, nor other regulatory acts of the Bank of Russia indicate that additional records of acquired commemorative coins should be kept on off-balance accounts. Consequently, commemorative coins purchased by the bank at its own expense should not be additionally reflected in off-balance accounts.

However, if the bank purchased commemorative coins for the client under a commission agreement, then the situation with the reflection on balance and off-balance accounts is reversed. In accordance with Art. 996 of the Civil Code of the Russian Federation, things received by the commission agent from the principal or acquired by the commission agent at the expense of the principal are the property of the latter, which means that the commission agent bank should not reflect commemorative coins purchased for the principal in its balance sheet. Thus, the accounting of commemorative coins purchased under a commission agreement should be carried out by the commission bank on an off-balance account 91202 "Miscellaneous values ​​and documents". Such clarifications are given in Letter No. 18-1-3-8/1109 of the Bank of Russia dated June 19, 2006 "On Accounting for Operations with Commemorative and Investment Coins".

Accounting for the sale of commemorative coins

Now let's consider the accounting entries that should be reflected when commemorative coins are retired, based on the above approach to the mode of using accounts 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins". There were also questions here, this time related to the need to use account 612 "Disposal and sale".

Instruction N 224-U, as well as the description of accounts 47414 and 47415, does not contain requirements for using account 612 "Disposal and sale" to reflect operations for the disposal of commemorative coins. At the same time, in accordance with clause 3.3 of Appendix 3 to Regulation N 302-P, in order to fully, reliably and timely reflect income from the supply (sale) of assets (with the exception of the purchase and sale of foreign currency), balance sheet accounts for accounting for disposal ( implementation). In cases where these Rules do not define a specific second-order account for accounting for the disposal (sale) of certain types of assets for accounting for the disposal (sale) of certain types of assets, a balance account for accounting for the disposal (sale) of property should be used. From this we can conclude that when commemorative coins are disposed of, account 61209 "Disposal (sale) of property" should be used.

According to paragraphs 3.1, 3.3 of Appendix 3 to Regulation N 302-P, income from operations for the supply (sale) of assets is recognized in accounting, subject to the following conditions:

• the right to receive this income by the credit institution follows from a specific agreement or is confirmed in another appropriate way;
• the amount of income can be determined;
• as a result of a specific transaction for the supply (sale) of an asset, the ownership of the asset being delivered has passed from the credit institution to the buyer.

Therefore, transactions for the sale of commemorative coins should be recorded on the date when ownership of them is transferred to the buyer. If such a date is not indicated in the contract of sale and other primary documents, then the transactions should be reflected on the date of signing the document evidencing the transfer of coins.

Accounting entries on the date of sale of commemorative coins, taking into account all the above requirements, will be as follows.

The write-off of the nominal value of retired coins is reflected in the following posting:

Kt 20202 "Cash desk of credit organizations".

The write-off of the difference between the purchase price and the face value of the retiring coins is reflected in the following entry:

Dt 61209 "Disposal (sale) of property"

Kt 41415 "Requirements for payments for purchased and sold commemorative coins".

The accrual of VAT on the sale of coins is reflected in the following entry:

Dt 61209 "Disposal (sale) of property"

Kt 60309 "Value added tax received".

The write-off of the payment received from the buyer in the case when the payment is received on the day the coins are retired is reflected in the following entry:

Dt 20202 "Cash desk of credit organizations"

Dt 30102 "Correspondent accounts of credit institutions with the Bank of Russia"

Dt customer account

In the case when the payment arrives later/before the withdrawal of the coins, its write-off is reflected in the postings:

Dt 47423 "Bank requirements for other operations";

Dt 47422 "Obligations of the bank for other operations";

Kt 61209 "Disposal (sale) of property" - by the value of the sale price of commemorative coins.

Profit from the sale of commemorative coins is reflected in the following posting:

Dt 61209 "Disposal (sale) of property"

Kt 70601 "Income" - by the amount of the difference between the sale price of commemorative coins and the price of their acquisition (excluding VAT).

Reflection of the loss from the sale of commemorative coins is carried out by posting:

Dt 70606 "Expenses"

Kt 61209 "Disposal (sale) of property" - by the amount of the difference between the sale price of commemorative coins and the price of their acquisition (net of VAT).

Since the sale of commemorative coins relates to the operating activities of banks, the income received from this should be reflected under symbol 16306 "Other operating income", and expenses - 25303 "Other operating expenses".

If there should be no particular difficulties in determining the face value of the retiring coins and the price of their sale, then distinguishing the difference between the acquisition price and the face value attributable to the retiring coins can be quite laborious, especially if coins of the same type were purchased at different times at different prices.

Note that for different accounting objects, Regulation N 302-P either provides for the choice of a method for estimating the value of retiring assets (for example, for securities - clause 1.7 of Appendix 11 to Regulation N 302-P), or fixes the only possible method of valuation - by cost each unit (for example, for inventories - clause 5.7 of Appendix 10 to Regulation N 302-P). The possibility of choosing and establishing by a credit institution a specific method for estimating the value of retiring commemorative coins is not directly provided, but, however, is not prohibited by regulatory documents. In this regard, it would be advisable for a credit institution to fix in its accounting policy the method used by it to determine the value of retiring commemorative coins - for example, by the cost of each unit, FIFO or by weighted average cost.

So, we have considered two approaches to the accounting procedure for operations with commemorative coins. The first is based on the characteristics of accounts 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins", enshrined in Regulation N 302-P, the second - on the temporary procedure for using these accounts, set out in Instruction N 224-U, general principles accounting and address clarifications of the Moscow GTU of the Bank of Russia. Ultimately, the choice of which position to adhere to remains with the credit institution and its accounting policy. And although the second approach seems to be more logical and consistent with general accounting approaches, it is possible that representatives of the Bank of Russia will insist on literally following the specific requirements for characterizing accounts 47414 and 47415 and, therefore, on using the first approach. But be that as it may, the accounting procedure chosen by the credit institution for operations with commemorative coins, including standard entries, should be fixed in the accounting policy.

Accounting for the packaging of commemorative coins

Since there is no reason to believe that the cost of a package is included in the cost of a commemorative coin, if this is not specified in the primary documents, therefore, the accounting for such packages should be organized as accounting for ordinary inventories, taking into account the requirements of Appendices 3 and 10 to Regulation N 302-P.

The cost of the packages purchased by the bank must be reflected by the bank on account 61008 "Materials" on the basis of clause 5.3 of Appendix 10 to Regulation N 302-P, according to which account 61008 "Materials" is accounted for once used (consumed) for the provision of services, economic needs, in the process management, technical purposes inventory, including containers and packaging materials. When commemorative coins are retired, the cost of their packaging should also be written off. Based on the requirements of clause 5.9.3 of Appendix 10 to Regulation N 302-P, when attributing the cost of inventories to expenses when putting them into operation or when using them, the following accounting entries are made:

Dt 70606 "Expenses"

Kt 610 "Materials".

But since packages of commemorative coins are not written off for operation and are not used by the bank for their own needs, but are transferred to buyers, accounting entries for their disposal must be reflected in compliance with the requirements of clause 10.5 of Appendix 10 to Regulation N 302-P, that is, using account 61209 "Retirement (realization) of property" and the derivation of the financial result from disposal. If the cost of the package is not specified separately in the documents drawn up during the sale of commemorative coins, then the financial result of the disposal of the package will obviously be a loss in the amount of its value.

Also, one should not forget that the transfer of packaging to the client both for a fee and free of charge for the purposes of calculating value added tax is recognized as a sale (clause 1 clause 1 article 146 of the Tax Code of the Russian Federation). Consequently, when commemorative coins in a package are retired, VAT must be calculated both on the price of the coins themselves and on the cost of the package.

E.A. Ilyina

Chief Accountant

Chelyabinsk branch

Commemorative coins

Commemorative, investment and other coins of special minting, which are the currency of the Russian Federation, in the manufacture of which expensive materials (in particular, precious metals) are used, are called commemorative. In their manufacture, complex minting technologies and decoration methods are used, which gives them specific properties and allows them to be used both as a means of payment at a nominal value, and as collectibles, investments at a different value than the nominal value. Banks carry out purchase and sale transactions with commemorative coins provided for by the legislation of the Russian Federation. Commemorative coins are purchased by commercial banks at the Bank of Russia.

It is advisable to carry out operations for the sale of commemorative coins not only in the head office, but also in all additional bank offices. In this case, commemorative coins (as samples) offered for sale, as well as quotes on them, are placed in a place visible to customers. It is advisable to set prices for commemorative coins in offices centrally - by order of the head office, taking into account the coverage of operating expenses and ensuring the profitability of operations based on selling prices for commemorative coins set by the Bank of Russia, as well as the requirements of the tax legislation of the Russian Federation.

Interaction of bank divisions in the course of operations with commemorative coins. For all internal structural divisions, it is necessary to send out a list of commemorative coins of the Bank of Russia that are available at the head office and where applications for receiving coins necessary for work will be sent. Delivery of commemorative coins to the bank's offices from the head office is carried out by the collection service in accordance with the procedure established by the bank, in accordance with the applications of the bank's offices for reinforcement with commemorative coins. For management reporting and determining customer demand for certain types of coins, it is desirable that bank offices send monthly reports to the head office on commemorative coins sold in the previous month - separately for each type.

An approximate procedure for purchasing commemorative coins is as follows:

Based on the identity document of the client, the responsible executor draws up an operation for the sale of commemorative coins in the ABS, as a result of which (in two copies) incoming and outgoing cash orders are formed;

The incoming cash order indicates the number of purchased coins, the name of each of them, its denomination, the amount paid by the client for its purchase, account number;

The outgoing cash order also indicates the number of coins purchased, the name of each of them, its denomination, as well as the account number and data of the client's identity document;

Incoming and outgoing cash orders are signed by the client and the cashier who carries out the operation of selling the commemorative coin;

The expense order is also signed by an employee who has the right to control signature;

On the basis of an incoming cash order, the cashier receives money from the client, and on the basis of an outgoing cash order, gives him a commemorative coin; incoming and outgoing cash vouchers and instructions on established selling prices for commemorative coins are placed in cash documents and kept in accordance with the retention periods established for operations with precious metals.

D 20209810 - commemorative coins on the way (face value) - K 20202810 - commemorative coins at the bank's cash desk.

Receipt of coins by offices:

D 20202810 - commemorative coins at the office cash desk - K 20209810 - commemorative coins on the way.

Sale of coins to individuals:

Payment of coins by the client:

D 20202810 - office cash desk - K 61209810 (for each type of coins, the same for all offices) - sale of coins for the amount of payment at the sale price of commemorative coins;

Transfer of coins to the client:

D 61209810 (for each type of coins, the same for all offices) sale of coins - K 20202810 - commemorative coins at the office cash desk - in the amount of the face value of the coins;

D 61209810 (for each type of coins, the same for all offices) - the sale of coins - K 47415810 (the same for all offices) - for the difference between the purchase price (sales price of the Bank of Russia) and the face value;

D 61209810 (for each type of coins, the same for all offices) - K 60309810 (the same for all offices) - for the amount of VAT.

Reflection of the financial result:

D 61209810 (for each type of coins, the same for all offices) - income from the sale of commemorative coins - K 70601810 symbol 12403 (same for all offices) - for the difference between the sale price and the purchase price minus VAT.

When selling coins made of precious metals (with the exception of collectibles), which are the currency of the Russian Federation or foreign states, according to the Tax Code of the Russian Federation, VAT is not charged. In accordance with Art. 149 of the Tax Code of the Russian Federation, collection items include:

Coins made of precious metals, which are the currency of the Russian Federation or a foreign state (group of states), minted using a technology that provides a mirror surface;

Coins made of precious metals that are not the currency of the Russian Federation or the currency of a foreign state (group of states).

When selling collectible coins, a value added tax is charged on the difference between the selling price and the book value of the coins sold in accordance with the Tax Code of the Russian Federation.