Gold has long been seen as a value-stable investment. Anyone buying or selling gold does best to understand first how the price is formed and how material value and resale value differ.
Why the gold price changes daily
The gold price is formed on the markets worldwide and shifts constantly – depending on supply and demand, exchange rates (gold trades in US dollars), interest rates and the general economy. It is usually quoted per troy ounce (31.1 g); for jewellery this is converted to a price per gram.
Material value and resale value
The pure material value comes from fineness, weight and the current gold price. When buying jewellery, craftsmanship, design and condition are added; when buying scrap gold, what counts above all is the material. You'll find our buy-in calculator on the 'Calculate buy-in value' page.
Coins or jewellery?
Investment coins and bars have a clear, easily comparable material value. Jewellery combines value with the joy of wearing it; Turkish gold coins bring together tradition and investment. What suits you depends on your goal – we'll advise you openly.
Tax: investment gold vs. jewellery
A commonly misunderstood point: investment gold is VAT-exempt in Germany (§ 25c UStG) – this applies to gold bars from 995/1000 and common investment coins such as Krugerrand, Maple Leaf or Vienna Philharmonic. Jewellery does not count as investment gold and is subject to regular VAT; so are silver, platinum and palladium. This is general information, not tax advice.
Our note
We are jewellers, not investment advisers. The information given here is general and not a recommendation to buy or sell. For your personal situation, it is best to also speak with an independent adviser.