Buy gold in Austria

Buy gold in Austria © Own image

With gold from Austria to Germany

For customers from Germany as well as from other EU countries it can be significantly cheaper to buy gold in Austria. The following questions arise again and again on the subject of buying gold in Austria as an EU foreigner.

Why buy gold in Austria?

The current gold price (dollar / troy ounce), which traders and banks follow, is based on supply and demand and is therefore identical worldwide. However, the premiums, i.e. the margins of dealers and banks, are sometimes very different. Therefore, the prices in different countries sometimes differ significantly and it may be cheaper to buy gold abroad.

In countries such as Hungary or the Czech Republic whose currency is not the euro, there are also different exchange rates that can affect the price of gold.

Where can you buy gold in Austria?

In Austria, investment gold in the form of bars and coins can be purchased from special precious metal dealers and commercial banks. The prices offered by gold dealers are usually better than the conditions offered by banks to their customers, both when buying and selling gold.

How much gold is it allowed to buy in Austria?

In principle, there is no limit in Austria on how much gold you can buy or even own as a private individual. However, if you want to remain anonymous when buying gold, you cannot buy more than the equivalent of 9,999 euros. This is because the anonymity limit falls when buying gold above 10,000 euros. This means that the buyer must identify himself and the gold dealer must record and keep the personal data.

However, this means that the anonymity threshold in Austria is significantly higher than in Germany, for example, where the personal data of the business partner must be recorded for such so-called "table transactions" from as little as EUR 2,000 since 2020. Other EU countries are in some cases even more restrictive when it comes to anonymous cash payments.

Interview

On Goldreporter.de there are tips from Walter Hell-Höflinger, managing director of Gold & Co. to the gold purchase in Austria
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What gold coins should you buy in Austria?

Austria has a mint, the Austrian Mint, that issues some of the most popular and widely accepted investment gold coins.

The Vienna Philharmonic is one of the three largest circulation gold coins in the world, and is the best known and most widely used European gold coin. The golden Philharmonic is made of pure gold (999.9% gold content) and is now available in 5 different sizes.

In addition, the mintings of historical trade gold coins from the imperial era, above all the gold ducats, are among the Austrian investment gold coins that are popular far beyond the country's borders.

What is the sales tax on gold in Austria?

In Austria, as in the European Union in general, investment gold coins and gold bars are exempt from VAT, provided they meet certain legal requirements.

The typical bullion coins, from the Vienna Philharmonic to the Maple Leaf to the Krugerrand, are like euro gold coins and the common trade gold coins from Austria: ducats, crowns and guilders thus tax-free.

We advise to buy gold as an investment always in the form of bars and such dedicated bullion coins, because only these are VAT-free.

With gold across the border?

If you are traveling from an EU country like Austria to Germany with gold, there is basically no upper limit for carrying gold. If you are carrying "cash and equivalent means of payment" of more than 10,000 euros when crossing the border from Austria to Germany, you must declare this to customs on request. Gold, silver and other precious metals are considered by law to be "means of payment equivalent to cash".

However, the obligation to declare only applies at intra-European borders if a customs officer asks about the cash being carried. If the official asks, however, you are obliged to provide comprehensive information. Thanks to the general tax exemption, no import VAT is charged on investment gold when it crosses internal EU borders.

Can I have Gold & Co Gold sent to Germany

Yes, if you buy gold online in Austria and have it sent to Germany, you do not have to declare anything either. Because within the EU freedom of capital and movement of goods applies. So if you buy from us in the Gold & Co Online Shop, we will gladly send your goods to you in Germany, as well as in many other EU countries. Your package is fully insured by us.

You want to buy or sell gold?

Come now for a personal, non-binding and serious consultation in one of our branches in Vienna or visit our online store.
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