How to Buy Gold in France: A Complete Guide for Expats

Living in France as an expat comes with many perks: rich culture, excellent cuisine, and a stable economy. But when it comes to diversifying your investments or protecting your wealth, buying gold is a timeless strategy. Whether you’re looking to hedge against inflation, diversify your portfolio, or simply own a tangible asset, gold is a popular choice.

However, buying gold in France can be a bit different than in other countries. This guide will walk you through everything you need to know—from where to buy gold, the types of gold available, tax implications, and tips to ensure you’re making a safe and informed purchase.

Why Buy Gold in France?

1. Economic Stability

Gold is often seen as a safe haven during economic uncertainty. With inflation and geopolitical risks, many expats turn to gold to preserve their wealth. Lately, it has become even more relevant due to high-debt from major economies around the world, including France.

2. Diversification

It is a non-correlated asset, meaning its value doesn’t always move in sync with stocks or bonds. Adding gold to your investment portfolio can reduce overall risk.

3. Tangible Asset

Unlike digital assets or paper investments, gold is a physical asset you can hold, store, or pass down to future generations.

4. Liquidity

Gold is highly liquid. You can sell it almost anywhere in the world, making it a flexible asset for expats who may move countries in the future.

Types of Gold You Can Buy in France

1. Gold Bars

Purity: Typically 99.99% pure (24 karats).
Sizes: Ranges from 1 gram to 1 kilogram.
Best for: Investors looking for the lowest premium over the spot price of gold.

2. Gold Coins

Popular Options: French Napoleons, Belgian 20 Francs, South African Krugerrands, American Eagles, and Canadian Maple Leafs.
Purity: Varies (e.g., Napoleons are 90% pure, while Maple Leafs are 99.99% pure).
Best for: Collectors and investors who appreciate numismatic value.

3. Gold Jewelry

Purity: Usually 18K (75% pure) or 14K (58.3% pure).
Best for: Those who want to wear their investment, but be aware of higher markups and lower resale value.

4. Gold ETFs and Certificates

How it works: You buy shares in a gold-backed Exchange-Traded Commodities (ETC… similar to an ETF) or a certificate representing physical gold stored in a vault.
Here are some popular ETCs: Amundi Physical Gold (FR0013416716), Invesco Physical Gold (IE00B579F325).
Best for: Investors who want exposure to gold without storing physical metal.

Where to Buy Gold in France

1. Banks

Pros: Secure, regulated, and often offer storage solutions.
Cons: Limited selection, higher premiums, and may require a bank account in France.
Popular Banks: BNP Paribas, Société Générale, Crédit Agricole, and LCL.

2. Authorized Dealers

Pros: Wide selection, competitive pricing, and expert advice.
Cons: Need to verify the dealer’s reputation.
Popular Dealers:
- Comptoir National de l’Or (CNO): One of the most trusted names in France, with multiple locations.
- Godot & Fils: A historic dealer in Paris, known for its expertise and reliability.
- AuCOFFRE.com : An online platform for buying and selling gold.

3. Online Platforms

- Pros: Convenient, often lower prices, and a wide selection.
- Cons: Risk of scams; always verify the seller’s credibility.
- Popular Platforms:
GoldAvenue.com (Gold stocked in Switzerland)
AuCOFFRE.com
BullionVault
GoldBroker.com

4. Pawn Shops and Antique Dealers

Pros: Potential for finding rare coins or jewelry at lower prices.
Cons: Risk of overpaying or buying counterfeit items.
Tip: Always ask for a certificate of authenticity.

How to Buy Gold Safely in France

1. Verify the Seller

Check if the dealer is registered with the Autorité des Marchés Financiers (AMF) or a member of professional associations like the Fédération Française de la Bijouterie, Joaillerie, Orfèvrerie (FFBJO).

2. Check Purity and Weight

Gold bars and coins should come with a certificate of authenticity stating purity and weight.
Look for hallmarks (e.g., an eagle’s head for French gold).

3. Compare Prices

Gold prices are based on the spot price plus a premium. Compare premiums across different sellers to get the best deal.

4. Understand Taxes

VAT: Physical gold (bars and coins, ‘Or d’investissement’) is VAT-exempt in France if the purity is at least 99.5% for bars and 90% for coins, among other conditions.
Capital Gains Tax: If you sell gold for a profit, capital gains tax may apply (forfait 11,5% or 19% + ‘social charges’ based on real costs). However, gold coins classified as “investment gold” (e.g., Napoleons, Krugerrands) are exempt from capital gains tax if held for more than one year.

5. Storage Options

Home Storage: Convenient but risky. Consider a safe or hidden storage.
Bank Safe Deposit Box: Secure but may come with annual fees.
Professional Vaults: Companies mentioned above can offer secure storage solutions.

Step-by-Step Guide to Buying Gold in France

Step 1: Decide on the Type of Gold

Choose between bars, coins, jewelry, or ETCs based on your investment goals.

Step 2: Find a Reputable Seller

Use the list of authorized dealers or online platforms mentioned above.

Step 3: Check the Spot Price

Monitor the current gold price on websites like Kitco or Bloomberg.

Step 4: Place Your Order

For physical gold: Visit a dealer or order online.
For ETCs: Use a brokerage account (e.g., Bourse Direct, Interactive Brokers).
- Not possible to buy using your PEA

Step 5: Verify and Store Your Gold

Inspect your purchase for authenticity.
Decide on a storage method (home, bank, or professional vault).

Step 6: Keep Records

Save receipts, certificates, and any documentation for tax purposes.

Tips for Expats Buying Gold in France

1. Language Barrier

If your French isn’t fluent, bring a translator or use a bilingual dealer.
Key terms:
- Lingot d’or: Gold bar
- Pièce d’or: Gold coin
- Or 24 carats: 24-karat gold

2. Currency Considerations

Gold prices are usually quoted in euros. If you’re transferring money from abroad, consider exchange rates and fees.

3. Legal and Tax Advice

Consult a tax advisor familiar with French and your home country’s tax laws to avoid surprises.

4. Buyback Policies

Ask about buyback policies before purchasing. Some dealers offer better rates for repurchasing gold.

Common Mistakes to Avoid

1. Overpaying for Gold

Avoid buying gold jewelry or collectible coins with high markups unless you’re a collector.

2. Ignoring Storage Costs

Factor in storage fees if you’re not keeping gold at home.

3. Falling for Scams

Only buy from reputable dealers. Be wary of “too good to be true” offers.

4. Not Planning for Taxes

Understand the tax implications of buying and selling gold in France.

Conclusion

Buying gold in France is a straightforward process if you know where to look and what to watch out for. Whether you’re an expat looking to diversify your investments or protect your wealth, gold offers stability and security. By following this guide, you can confidently navigate the French gold market and make a purchase that aligns with your financial goals.

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Bon chance! et Bon investissement!

Disclaimer

Please remember that we are neither financial nor tax advisors. We are just sharing our best understanding based in our own experience. This blog is for educational purposes only. Do not make investment decisions solely based on what you read in this blog. What works for us, may not for you. Do your own research and look for professional service if required. Read our full disclaimer in the ‘about’ page.

Happy investing!