ID and Cash Limits for Buying Gold in New Zealand
Since 11 May 2023, businesses in New Zealand may not buy or sell jewellery, watches, gold, silver or other precious metals and stones for NZ$10,000 or more in cash, including related payments that add up to that. Below that, there is no set amount at which a jeweller must check your ID when you buy. When you sell to a licensed secondhand dealer or pawnbroker, you must show photo ID and give your name, address, phone number and date of birth.
Facts checked 31 October 2026 · Not financial, legal or tax advice
At a glance
| Situation | Rule | Notes |
|---|---|---|
| Buying | No fixed ID threshold for jewellery or precious metals. | Dealers in these goods are no longer AML/CFT 'high-value dealers' because they can't take large cash. |
| Paying cash | Cash of NZ$10,000 or more is banned. | Related payments (e.g. lay-by) count together; cheques and other bearer instruments too. |
| Selling | Photo ID and personal details to a licensed secondhand dealer. | The dealer keeps the record for three years; police can inspect it. |
| Reported | Suspicious activity reports at any amount. | Banks report cash deposits and withdrawals of NZ$10,000+. |
The rules in detail
- The Criminal Activity Intervention Legislation Act 2023 added a ban to the AML/CFT Act 2009: anyone in trade or business must not buy or sell jewellery, watches, gold, silver or other precious metals, precious stones, motor vehicles or boats for cash of NZ$10,000 or more, in one payment or a series of related cash payments. It applies from 11 May 2023, both when a shop sells to you and when it buys from you.
- Breaking the ban brings civil and criminal penalties for the business. Pay larger amounts by card or bank transfer.
- Because these businesses can't take large cash, they are no longer high-value dealers with AML/CFT customer checks. Businesses still are high-value dealers when they take NZ$10,000+ cash for other listed items such as art or antiques.
- Banks file prescribed transaction reports for cash transactions of NZ$10,000 or more, so withdrawing a large amount to pay a dealer is still recorded.
When you sell
- Shops buying used jewellery and watches are licensed secondhand dealers or pawnbrokers. In person you must give your full name, address, phone number and date of birth, show authorised photo ID (passport, NZ or overseas photo driver licence, government photo ID, 18+ card) and sign the record.
- The dealer keeps the record for three years and holds the item before reselling it.
- Payment of NZ$10,000+ must not be in cash.
Silver and travel
- Silver is covered by the same NZ$10,000 cash ban.
- Declare cash of NZ$10,000+ when entering or leaving New Zealand.
Gold ID and Cash Limits in New Zealand: FAQ
Can I pay cash for gold in New Zealand?
Yes, up to NZ$9,999.99. A business can't buy or sell jewellery, watches or precious metals for NZ$10,000 or more in cash, including related payments that add up to that.
Do I need ID to buy gold in New Zealand?
There is no legal amount at which a jeweller must identify you, though some ask. Large purchases are paid by card or bank transfer, where your bank has already identified you.
Do I need ID to sell gold jewellery?
Yes, to a licensed secondhand dealer or pawnbroker: photo ID, plus your name, address, phone number and date of birth, and your signature on the dealer's record.
Sources (6)
- DIA: prohibited cash transactions for specified high-value goods
- Ministry of Justice: prohibited cash transactions from 11 May 2023
- DIA: AML/CFT information for high-value dealers
- NZ Police: customers of secondhand dealers and pawnbrokers
- NZ Police: secondhand dealers information
- DLA Piper: final stage of AML/CFT reform (September 2026)
General information for individuals buying or selling gold, checked October 2026. Rules change and dealers may ask for more than the legal minimum; check with the dealer or the regulator. Not legal advice.