Which gold bars and coins are VAT-free in Germany, what 585, 750 and 999 mean, what the invoice must show and when you need ID.
Buying investment gold in Germany: the short answer
If you are buying investment gold in Germany to save, the short answer is this: gold bars of at least 995 fineness and qualifying coins of at least 900 fineness carry no VAT under § 25c of the German VAT Act, while jewellery in 585 or 750 gold normally carries the standard 19% VAT, which you rarely get back when you sell. Purity, form and the invoice decide whether you paid a fair price. For today’s euro price per gram, use our live gold price in Germany page, which this guide belongs to.
What do 585, 750 and 999 mean on gold?
German gold is marked in thousandths. A stamp of 585 means 585 parts of pure gold in every 1,000, roughly 14 carat. 750 is about 18 carat, and 999 (or 999.9) is practically pure gold, 24 carat. You will also see 875 (21 carat) and 916 (22 carat) on jewellery bought in the Gulf or the Levant. The number tells you how much of the weight is gold; the rest is alloy that adds strength and colour but no value at the gold desk.
German law also limits how fineness may be stated: under § 2 of the Fineness Act (FeinGehG), the fineness of gold items may only be given as 585 thousandths or higher. A stamp is a statement by the maker, not a certificate, so for anything bought second-hand the weight and fineness should be checked by the buyer’s dealer.
Which gold counts as investment gold in Germany?
Section 25c of the VAT Act (§ 25c UStG) defines investment gold in two forms:
- Bars and wafers in a weight accepted by the gold markets, with a fineness of at least 995 thousandths.
- Coins with a fineness of at least 900 thousandths, minted after 1800, that are or were legal tender in their country of origin, and that usually sell for no more than 80% above the open-market value of their gold content.
The supply, import and intra-EU acquisition of such gold is exempt from VAT. To help dealers, the European Commission publishes each year a list of gold coins that meet these criteria; the list valid for 2026 was published on 14 November 2025. If you are offered a coin, a serious dealer can tell you whether it is treated as investment gold.
Do you pay VAT on gold in Germany?
It depends on what you buy. The table below summarises the general picture; it is general information, not tax advice.
| What you buy | Typical purity | VAT on the purchase | What you are paying for |
|---|---|---|---|
| Gold bar or wafer | 999.9 / 999 (at least 995) | Exempt as investment gold (§ 25c UStG) | Gold content plus a small dealer premium |
| Bullion coin, legal tender, minted after 1800 | At least 900 (e.g. 916.7 or 999.9) | Exempt if it meets the § 25c criteria | Gold content plus minting and dealer premium |
| New jewellery | 585, 750, 875, 916 | Standard rate of 19% (§ 12 UStG) | Gold, design, workmanship and brand |
| Used jewellery from a dealer | 585, 750, 875, 916 | Often under the margin scheme, VAT only on the dealer’s margin (§ 25a UStG) | Gold plus remaining design value |
| Collector or commemorative coins | Varies | May be taxable if they fail the criteria | Rarity and collector value, not only gold |
The practical lesson is simple: if your goal is saving, every euro you pay for VAT, design or workmanship is a euro that the gold desk will not pay back when you sell. Jewellery has its own value, as a gift, a tradition and something to wear, but it is a different purchase from a savings bar.
What should the invoice show?
The invoice is your proof of what you bought, when and for how much. It matters later for three reasons: to show the purchase date and price if you sell, to prove the origin of the gold, and to calculate the value you hold. Before you leave the counter or confirm an online order, check that the invoice shows:
- The dealer’s full name and address, and the invoice date.
- An exact description: product, maker or mint, weight in grams or troy ounces, and fineness.
- The serial number for bars that carry one.
- The price per item and in total, and whether VAT is charged or the item is exempt as investment gold.
- Your name, where the purchase required identification.
Keep the invoice with the gold or in a safe digital copy. Our guide to taxes in Germany for Arab savers explains why the purchase date matters when you sell, and our zakat on gold guide shows how to count the gold you hold in euros.
Do you need ID to buy gold in Germany?
Yes, above a threshold. Under § 10 (6a) of the Money Laundering Act (GwG), dealers in high-value goods must apply due-diligence checks, including identification, to cash payments of at least €2,000, so anonymous cash purchases of gold are possible only up to €1,999.99. According to gold.de, this limit has applied since 1 January 2020, after it was lowered from €9,999.99. It is a rule for the dealer, not a limit on how much gold you may own. For larger amounts, a bank transfer to a dealer with a fixed address leaves the clearest record.
Is profit from selling gold taxed in Germany?
Under § 23 of the Income Tax Act (EStG), selling physical gold counts as a private sale. A gain is taxable only if the time between purchase and sale is not more than one year, and gains from all private sales in a calendar year stay tax-free if they total less than €1,000. This is why the date on your invoice matters. It is general information; for your own case, see our tax guide or a tax adviser.
Where to buy gold in Germany, and where to keep it
Physical gold is sold by banks and savings banks, by specialist precious-metal dealers in shops and online, and by jewellers. For savings, compare the premium and the buy-back price at two or more of them on the same day. Storage is part of the cost: a home safe, a bank safe-deposit box and a dealer’s vault each come with a fee or an insurance question, so ask about both before you buy, and check whether your household insurance covers gold at all.
Where do buyers lose money without noticing?
- The spread. Every dealer has a buying price and a selling price. Small bars and coins carry a higher premium per gram than larger ones; compare the premium over the live price, not the sticker price alone.
- Jewellery as savings. Workmanship and 19% VAT are paid on the way in and rarely come back on the way out.
- Collector premiums. A coin sold far above its gold content may fall outside the investment gold definition and carry value only a collector is willing to pay.
- Offers through messaging groups. Gold sold privately at “below market price”, without an invoice or a traceable seller, is a classic risk. Our Deal Check is there for offers that look too good.
- Currency confusion. Prices are quoted in dollars per ounce and in euros per gram. Our guide to the gold price in euro vs dollar shows how to convert without mistakes.
A seven-point checklist before you pay
- Decide the goal: savings (bars, bullion coins) or wearing and giving (jewellery).
- Check the live euro price per gram on our gold price page the same day.
- Ask for the premium over the gold value in euros, and for the dealer’s current buy-back price for the same item.
- Confirm fineness and weight: at least 995 for bars, at least 900 for coins.
- Ask whether the item is sold as VAT-exempt investment gold, and see it on the invoice.
- Buy from a dealer with a fixed address and a clear identity; avoid unverifiable private sellers.
- Store the invoice and plan safe storage before the purchase, not after.
Frequently asked questions
Is gold jewellery a good way to save in Germany?
Jewellery holds its gold value, but the price includes design, workmanship and usually 19% VAT, which you rarely recover when selling. For pure savings, bars and bullion coins are the more efficient form.
Is 21 or 22 carat gold investment gold?
Jewellery is not investment gold whatever its purity. A coin of 916.7 fineness can qualify because the coin threshold is 900, if it also meets the other conditions of § 25c UStG.
Can I buy gold online in Germany without VAT?
Yes, qualifying bars and coins are VAT-exempt whether bought in a shop or online from a German or EU dealer. The invoice should state the exemption.
What happens if I lose the invoice?
You still own the gold, but it becomes harder to prove the purchase date and price. Ask the dealer for a copy as soon as you notice, and keep a digital scan from then on.
Where do I check today’s gold price in euros?
On our gold price in Germany page, which shows the live price per gram. We never print a fixed price in articles because it changes during the day.
This article is general information, not tax, legal or investment advice. For your own situation, speak to a tax adviser.
7Grounds Team
The 7Grounds team in Istanbul: strategists, designers, marketers and franchise and investor specialists working across Türkiye and the Gulf in Arabic, English and Turkish.
