In Austria and Germany in particular, many private households not only have gold jewelry in their jewelry boxes, but also investment coins or gold bars in their possession. Whether as an "iron reserve", family jewelry or a basic asset, gold is therefore also regularly bequeathed. twiWe have summarized for you what to look out for when inheriting gold.
I have inherited gold. What can I do with it?
Since inheritance tax and gift tax were abolished in Austria in 2008, you do not have to pay tax on your gold inheritance. However, if the sum of the inherited assets exceeds 50,000 euros, you are obliged to notify the tax office. The same limit also applies to gifts from relatives and life partners. If you have received gold as a gift or inheritance from a stranger, you must report this to the tax office from a sum of EUR 15,000. All physical gold and gold jewelry is classified as tangible assets.
Heirloom jewelry
If you have inherited gold jewelry, the question usually arises as to the value of the inherited pieces. We are happy to offer you a free, no-obligation valuation of your jewelry in our stores in Vienna, where we examine each piece individually and determine how many carats, or actual gold content, it has.
Unless it is rare, unique family jewelry with sentimental value that you really want to wear yourself, it makes sense to sell jewelry from an estate or exchange it for investment gold. Unlike bullion coins or bars, jewelry is not suitable for asset protection.
Investment gold
If there is no jewelry in your estate, but gold, silver and co. in the form of coins and bars, we will be happy to help you. The value of gold bars and common investment coins, such as Golden Vienna Philharmonic or gold ducats, is based on the price of gold and can be researched at any time on the Internet (e.g. on our price overview). If you have inherited a coin collection, we can help you recognize collector coins from all over the world and recommend you to trustworthy numismatists.
If you want to turn your inherited gold into money, Gold & Co is the right partner for you. In addition to luxury watches and antique jewelry, we also accept damaged jewelry, inherited silverware as well as old and broken gold. With us, you can sell heirlooms made of gold, silver, platinum and palladium at top prices. Of course, we also buy coins and bars.
We not only work together with notaries and executors, but are also happy to take the time to provide you with detailed advice - in a serious and discreet manner, of course!
I would like to leave gold to my heirs
If you want to leave something of lasting value to your heirs, gold is ideal for this. However, we recommend that gold and other precious metals are always bequeathed in the form of investment assets.
Inherit jewelry
Heirlooms in the form of necklaces or rings can hardly be divided fairly among the heirs. Especially if the value of the individual pieces of jewelry is unclear. It is not uncommon for a "favorite piece" to be made of an alloy of low value and at the same time supposedly old-fashioned jewelry made of gold with a high carat value.
In order to divide the estate fairly among several heirs, it is advisable to exchange jewelry for bars or coins. Unlike jewelry, their value can be easily determined by yourself without the need for an expert.
Inheriting gold coins & bars
If you wish to bequeath gold, we recommend purchasing physical gold in the form of bullion coins and marketable gold bars. Such investment gold products are not subject to VAT in Austria - as in the entire EU -, are easy to trade and are a crisis-proof store of value.
An inherited gold coin or bar is usually remembered by the heirs for a long time. At the same time, they can easily convert the gold into cash at any time if necessary. And thanks to the upward trend in the gold price, your heirs can even benefit from an increase in value.
Mentioning gold in your will or dedicating heirs
It is not uncommon for gold to be untraceable for heirs in the event of death. If you do not store your physical gold in a safe at home, but have deposited it in a safe deposit box or hidden it somewhere at home, make a record of this and include it in your will and consider informing your future heirs of this.
Bear in mind that a stroke, dementia or simply "normal forgetting" can lead to your estate not being divided as you would have wished. A notarized "treasure map" helps to prevent this.
Gold&Co. - Your experts in Vienna
Whether you want to sell inherited jewelry , exchange inherited jewelry for investment gold or buy gold as a provision for yourself and your heirs, we are your reliable partner. Contact us or drop by one of our branches in Vienna . We will be happy to take the time to deal with your request and provide free, non-binding and, above all, competent advice.
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