Buying gold anonymously in Germany: what the cash rules allow

An over-the-counter cash transaction (Tafelgeschäft) is the purchase or sale of precious metals directly at a dealer's counter for cash. For a long time it was the classic way to acquire gold without leaving a trace. In recent years the rules have become considerably stricter.

The limit is 2,000 euros

Since 1 January 2020, precious metals dealers in Germany have been required under the Money Laundering Act (Geldwäschegesetz) to identify their customers as soon as a cash transaction reaches 2,000 euros or more. Previously the threshold was 10,000 euros. Below 2,000 euros, an anonymous cash purchase is still possible.

No splitting allowed

Anyone who splits a larger purchase into several small ones to get around the limit is not acting legally. Dealers are obliged to treat linked transactions as a single deal and to report suspicious patterns.

What happens during identification?

The dealer checks your identity card or passport and stores the data in line with the statutory retention periods. As a non-German, your passport is usually the safest choice; EU citizens can also use their national identity card. This does not trigger an automatic report to the tax office. Buying gold is legal – identification serves to combat money laundering.

The same applies when selling

If you sell gold and are paid in cash, the identification requirement also applies from 2,000 euros. For bank transfers, dealers usually ask for ID anyway.

Looking ahead

New anti-money laundering rules have been adopted at EU level, including a general upper limit for cash payments. If you regularly buy with cash, keep an eye on these developments.

Note: this article reflects the general legal position and is not legal advice.