The French Keep Twice as Much Gold in Their Stashes as Their Central Bank 0 11

At current prices, this amounts to approximately 500 billion euros. This includes not only jewelry but also coins and bars.

In French families, it is common for grandparents to gift their grandchildren a gold coin or a small bar for birthdays or weddings.

Despite historically high gold prices that have persisted over the past few months, the French are in no hurry to take their treasures to buyback services. Results from a recent study show that the French prefer to keep their treasures in reserve as a means of preserving their heritage, partly because gold, unlike other assets, is easily passed down through inheritance.

Two out of three French people own at least one gold item. Among them, only one in ten owns more than 100 grams of gold.

Some experts believe that the French may have even more gold in their stashes. Exact volumes are impossible to determine because people speak about this topic very reluctantly. This caution has cultural roots deeply embedded in French history. Gold has long been the heritage of ordinary people, something passed down to their children without banking services, without a trace, without the need to explain anything. It was a reflex of caution inherited from generations that experienced wars, devaluations, and banking crises.

But what about taxes?

When purchasing, investment gold (bars with a minimum purity of 995/1000 and coins minted after 1800) is exempt from VAT. However, jewelry is subject to VAT at a rate of 20%.

When selling coins and bars, there are two tax regimes at the seller's discretion. The fixed tax is 11.5% of the total sale amount, starting from the first euro.

The second option, with capital gains tax, is taxed at a rate of 37.6%, but with a 5% annual exemption starting from the third year of ownership. This means that a bar or coin must be held for 22 years to receive full tax exemption. However, written documents must be provided to confirm the date of acquisition of the gold (invoice, notarial deed, inheritance tax declaration).

For jewelry, no tax is levied if the sale price is less than 5000 euros. For amounts above this, the aforementioned tax regime applies.