Precious metals and precious stones in Financial law

Proposed master’s thesis contains an attempt to provide definitions of the notions “precious metals” and “precious stones”. The Author has proposed the term “turnover of precious metals and precious stones”. Tutnover of precious metals and precious stones is a complicated process from mining of precious metals and precious stones until entering the civil circulation.The opinions of the specialized organizations — the World Jewellery Confederation, American Gem Trade Association — on definitions of precious metals and precious stones, as well as the provisions of the legislation of foreign countries, in particular, Botswana and Namibia are analyzed.The master’s thesis is the historical and legal research of the evolution of monetary circulation in Russia in the XVII—XX centuries. The main directions of the monetary policy and the notion “monetary regalia” are scrutinized. The Author makes conclusions about the existence of the negative trend throughout the period reviewed — use monetary regalia for fiscal purposes.The Author analyzes the problems of money circulation through significant historical events. Paticular attention is paid to the formation of the gold standard in the reform of 1895—1897, and reform of 1922—1924.At the present stage the connection between the legal regulation of precious metals and precious stones in the Russian Federation and budget law is determined. According legislation funds obtained from the sale of precious metals and precious stones can be used as one of internal sources for budget deficit financing and budget receipts at emergency situations.Moreover the Author researches the composition of foreign-exchange reserves of the Russian Federation. The paper contains the opinion on the necessity to empower precious metals and precious stones the status of currency values.