Buying Gold Anonymously in Germany: ID Checks, Limits and Customs
Buying gold anonymously in Germany is possible for cash payments below €2,000, because there is no reporting obligation in the strict sense for private individuals. From €2,000 paid in cash, however, dealers must identify you under the German Money Laundering Act. When crossing a border with gold, customs rules also apply from €10,000.
Up to what amount can I buy gold anonymously?
Under § 10(6a) no. 1 letter b of the German Money Laundering Act (GwG), traders in goods must carry out their due diligence obligations if they accept or make cash payments of €2,000 or more in transactions involving high-value goods. § 1(10) GwG explicitly names precious metals such as gold, silver and platinum as high-value goods.
For you, this means: if you pay less than €2,000 in cash, the dealer does not have to identify you. From €2,000, the dealer must check your ID and record the details. The threshold also applies when you sell gold to a dealer for cash.
If a larger amount is deliberately split into several small purchases to get around the threshold, the dealer can treat the transactions as linked. If money laundering is suspected, the dealer must file a report regardless of the amount.
What happens with bank transfer or card payment?
The thresholds of § 10(6a) GwG relate to cash payments. With non-cash payments, your bank is already required to identify you. Many dealers still ask for identification for online purchases, for example above certain amounts or for a customer account.
Identification by the dealer is not a report to the tax office. It serves to prevent money laundering. The data is kept by the dealer and only passed on in the cases provided for by law.
What changes from 2027?
The EU Anti-Money Laundering Regulation (EU) 2024/1624, AMLR for short, applies from 10 July 2027. Its Article 80 limits cash payments in business transactions to a maximum of €10,000, even if the amount is split across several linked payments. Payments between private individuals not acting in a professional capacity are exempt.
Member states may set lower limits. How Germany will combine its existing €2,000 threshold for precious metals with the new EU rules should be checked at the cut-off date.
For buyers, the limit means: from July 2027, larger gold purchases from a dealer can no longer be paid entirely in cash. Anyone who regularly invests larger sums will then have to switch to bank transfer or other non-cash payment methods anyway.
Crossing a border with gold: what do customs require?
The German Customs Administration Act (ZollVG) treats precious metals as equivalent to other means of payment (§ 1(4) ZollVG). Within the EU, you must declare cash and equivalent means of payment with a total value of €10,000 or more if customs officers ask. This includes details of type, quantity, value, origin, beneficial owner and intended use (§ 12a ZollVG).
When entering or leaving via the EU’s external border, you must declare cash of €10,000 or more in writing without being asked. The basis is Regulation (EU) 2018/1672. Gold coins with a high gold content and gold bars count as cash under it. Failing to declare is an administrative offence that can be punished with a fine of up to €1 million.
Importing gold from non-EU countries
If you bring gold from a country outside the EU, you must consider not only the cash declaration but also the import. Investment gold is exempt from import VAT; silver and jewellery generally are not. Clarify the details with customs before travelling.
On request, you must be able to show where the gold comes from and who owns it (§ 12a(5) ZollVG). So carry purchase receipts or other proof with you. The information may also be used in tax proceedings.
