How gold is priced in Germany
In Germany gold is quoted in euros per ounce for coins and per gram for bars and old gold, with 585 (14K) and 333 (8K) the usual jewellery standards. The figures here are the international spot price converted to euros — the metal value before dealer premiums and, for jewellery, 19% VAT.
VAT and income tax
Investment gold is VAT-free (§25c UStG, implementing the EU VAT Directive): bars of at least 995 fineness, and coins of at least 900 fineness minted after 1800 that are or were legal tender and sell for no more than 80% above their gold value. The Federal Finance Ministry publishes a list of qualifying coins every year. Jewellery and gold that does not qualify carry 19% VAT.
For private investors, gains on physical gold are tax-free after a holding period of more than one year (§23 EStG). Sold within a year, a gain is taxed at your personal income tax rate if your total gains from such private sales reach €1,000 in the year (a threshold, not an allowance). Following rulings of the Federal Finance Court, exchange-traded gold with a right to physical delivery, such as Xetra-Gold, is treated the same way.
How prices are set
German banks and dealers price gold from the international dollar price, set in London and New York and converted to euros, and add a premium that is highest for small coins and bars. There is no German bullion coin in wide use: the Vienna Philharmonic, Krugerrand and Maple Leaf dominate, alongside minted bars from 1 g to 1 kg. The Federal Republic also issues a ½ oz 100 euro gold coin each year. The Bundesbank holds the world's second-largest official gold reserve after the United States.
Hallmarks, old gold and cash rules
Hallmarking is voluntary in Germany: the fineness stamp (for example 333, 585 or 750) is applied by the maker and must be accurate, but no assay office tests pieces before sale. Old gold and pre-1918 coins such as the 20 Mark (7.17 g of pure gold) are bought on their fine gold content, so weigh items and use the calculator with the right karat. Dealers must identify customers who pay €2,000 or more in cash for precious metals, and an EU-wide €10,000 cap on cash payments applies from July 2027.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.