Key points
- Privately, bullion coins and bars often sell close to spot – more than a dealer pays.
- Only let the gold go once the money is really yours.
- In Germany, the gain is tax-free once you have held the gold for more than a year.
- A short receipt protects both sides – including with the tax office.
What sells well privately
Easiest are well-known bullion coins such as the Krugerrand, Maple Leaf, Vienna Philharmonic or Kangaroo, and bars from recognised refiners, ideally in the original packaging with a certificate. Their value comes almost entirely from the gold content, and buyers can test them easily.
Less suited are jewellery, scrap gold and dental gold – a refinery usually pays more fairly for those. For rare collector coins, get an assessment from a coin dealer first, as their value can be well above the gold value.
Finding a fair price
Start with the metal value: fine weight times the current spot price per gram. The guide Gold calculator explained shows how. Then look at two reference points:
- The dealer's buy price – what you would get there right now. Don't sell for less.
- The dealer's sell price – what your buyer would pay in a shop. Nobody will pay more.
A fair private price lies in between, and for common bullion coins often close to spot. Why coins and small bars cost more than large ones is explained in Understanding gold premiums. Since the gold price moves daily, a price of “spot plus x %” is often fairer than a fixed amount.
Writing a good listing
- Exact description: coin or refiner, weight, fineness, year, condition.
- Your own photos: front and back, packaging, certificate. Use a neutral background – nothing that shows your home or your safe.
- Mention proof: an original invoice builds trust. Black out personal details on it.
- Don't give too much away: offer individual pieces, not your whole holding, and never state an address.
Talking to buyers
Answer questions factually and keep personal details to yourself until you have agreed. Be careful with people who want to buy straight away without seeing the piece, ask for shipping, offer a deposit via a link or try to move you to another messenger. Common tricks are described in Red flags of gold scams.
Handing over safely
Meet in a public, busy place, ideally inside or in front of a bank branch. The buyer can withdraw cash there and you can pay it in straight away. Never at your home, not after dark and not in remote car parks. For larger amounts, bring someone along.
Your buyer will want to test the gold – that is normal and a good sign. Expect scales and calipers, and keep the piece in sight while they test it.
Getting paid the right way
Cash is common between private people and final immediately. Check the notes or pay them in at the bank counter. In Germany there is no general cash limit for deals between private individuals.
Instant transfer: the money arrives within seconds. Hand over the gold only once you see it in your own banking app. Screenshots, emails or texts as “proof of payment” don't count.
Don't accept: cheques, ordinary transfers that arrive later, PayPal “Friends and Family”, vouchers or escrow links. If a payment is reversed or recalled, the gold is gone and so is the money.
Receipt and warranty
Write a short receipt signed by both of you: date, exact description, weight, price and payment method. Between private people it is common to exclude liability for defects (“private sale, no warranty”). That does not protect you if you know about a defect and keep quiet about it – and you must be able to vouch for the gold being genuine anyway.
Tax on a private sale
In Germany, physical gold counts as a private sale transaction (§ 23 EStG). If you have owned it for more than a year, the gain is tax-free. If you sell sooner, the gain is only tax-free if all your private sale gains in the year together stay below €1,000. This is a threshold, not an allowance: once you exceed it, the whole gain is taxable. So keep your purchase receipts – they prove the date and price.
With inherited gold you take over the deceased's holding period; see Selling inherited gold. Anyone who buys and sells regularly to make a profit may count as a trader, and different rules then apply – if in doubt, ask a tax adviser.
This guide is general information and does not replace investment, tax or legal advice. No guarantee of accuracy; rules can change. Updated: 6 October 2026.