Buying gold in Austria

With gold from Austria to Germany

For customers from Germany and other EU countries, it can be significantly cheaper to buy gold in Austria. The following questions keep cropping up 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 is used by traders and banks, is based on supply and demand and is therefore identical worldwide. However, the premiums, i.e. the margins of traders and banks, are sometimes very different. As a result, prices in different countries sometimes differ significantly and it can 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 influence the price of gold.

Where can you buy gold in Austria?

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

How much gold can you 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 worth more than 10,000 euros. This means that the buyer must identify himself and the gold dealer must record and store the personal data.

However, this means that the anonymity limit 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 EUR 2,000 since 2020. Other EU countries are sometimes even more restrictive when it comes to anonymous cash payments.

Which gold coins should you buy in Austria?

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

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

In addition to this, the restrikes 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.

How high is the sales tax on gold in Austria?

In Austria, as in the European Union, 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 and the Krugerrand, are therefore tax-free, just like euro gold coins and the common commercial gold coins from Austria: ducats, crowns and guilders.

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

Crossing the border with gold?

If you are traveling from an EU country such as Austria to Germany with gold, there is generally 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 you are carrying. However, if the official asks, you are obliged to provide comprehensive information. Thanks to the general tax exemption, there is also no import sales tax for investment gold if you use it to cross internal EU borders.

Can I have gold from 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. This is because the free movement of capital and goods applies within the EU. So if you buy gold from us in the Gold & Co online store, we will be happy to send your goods to you in Germany, as well as to many other EU countries. Your parcel is fully insured by us.