The main currencies
The main stock markets in the world quote precious metal prices per troy ounce* (symbol oz t), 1 kg-ingot or gram.
For gold:
- France: Napoléon
- United States: American Eagle
- Canada: Maple leaves
- Australia: Nuggets
- South Africa: Krügerrands
- United Kingdom: Britannia
- Switzerland: Vreneli
Ingots
- Gold: Gold ingots** of 1 kg, 500 g, 250 g, 100 g, 50 g, 20 g, 10 g and 5 g
- Silver: Silver ingot*** of 1,000 g (liable for VAT)
* A troy ounce (oz t) weights 31,10034768 grams or 0.0311034768 kg
** Standard gold ingots 999.9
*** Standard silver ingots 999
Value added tax
In Luxembourg, the ‘physical’ sale or purchase of gold coins or ingots is not subject to value added tax.
Sales of silver, platinum, and palladium with physical delivery or on deposit are not subject to VAT either. However, the purchase of silver, platinum, and palladium with physical delivery or on deposit is subject to VAT.
Since 1 January 2023, the Luxembourg government has decided to temporarily lower the VAT rate to 16% for a period of one year.
You can deposit your precious metals with Banque Raiffeisen, which guarantees to:
- Keep your precious metals in a safe place
- Track listed prices daily using the fixing price
- Send a quarterly securities deposit statement