Key points
- Sort and value first, then sell – not the other way round.
- Never clean coins: it can destroy their collector value.
- The deceased’s holding period counts – the sale is often free of income tax.
- The inheritance must be reported to the tax office within three months.
1. Take stock
Start by getting an overview. Photograph every piece, note inscriptions, stamps and weight, and sort roughly:
- Bullion coins and bars: Krugerrand, Maple Leaf, bars with a refiner's name – their value depends almost entirely on the gold content.
- Historic and collector coins: Vreneli, Goldmark, ducats, commemorative coins – here the collector value can exceed the gold value.
- Jewellery: look for stamps such as 333, 585 or 750. Branded jewellery or antiques can be worth more than their material.
- Dental and scrap gold: paid by metal value minus refining costs.
Be sure to keep any invoices, receipts or custody statements of the deceased.
2. Estimate the value
You calculate the metal value from weight, fineness and the current spot price – see Gold calculator explained. For rare coins, antique jewellery or designer pieces, an assessment by a coin dealer or appraiser is worthwhile. For higher values, get at least two or three offers.
3. Inheritance tax
Gold counts towards the estate at its market value on the date of death. Whether inheritance tax is due depends on the whole estate and your relationship to the deceased. In Germany, the personal allowances include:
| Relationship to the deceased | Allowance |
|---|---|
| Spouse or registered partner | €500,000 |
| Children and stepchildren | €400,000 |
| Grandchildren | €200,000 (€400,000 if the parent has already died) |
| Parents and grandparents (inheritance) | €100,000 |
| Siblings, nieces, nephews, others | €20,000 |
Whether or not tax is due: an inheritance generally has to be reported to the tax office within three months, unless the tax office is already informed by a notary, court or bank.
4. Income tax when selling
When you sell inherited gold, the one-year holding period for private sales applies. The key point: as an heir, you take over the deceased’s holding period. If they bought the gold more than a year ago, your gain is free of income tax – even if you have only owned it briefly. Purchase receipts help prove this.
5. When there are several heirs
If there are several heirs, the gold initially belongs to all of them jointly (a community of heirs). It may then only be sold if everyone agrees. Decide early whether you will split the gold or sell it and share the proceeds. To prove you are entitled, a certificate of inheritance or an opened notarial will is often enough.
6. Ways to sell
| Route | Suitable for | Keep in mind |
|---|---|---|
| Bullion dealer | Bullion coins, bars | Fast, but usually slightly below spot |
| Refiner | Scrap, dental gold, old jewellery | Refining costs are deducted |
| Auction house, coin dealer | Rare coins, antique jewellery | Fees, takes longer |
| Private sale | Well-known bullion coins and bars | Often the best price, but needs a safe meeting |
7. Stay discreet
Don’t tell people that you inherited gold – neither on social media nor in the neighbourhood. Keep it safe until you sell, ideally in a safe deposit box. And be wary of buyers who turn up at the door or call unprompted. More in Red flags of gold scams.
This guide is general information and does not replace investment, tax or legal advice. No guarantee of accuracy; rules can change. Updated: 30 September 2026.