THE SHORT ANSWER
France exempts qualifying investment gold, not every high-purity gold object
The EU investment-gold scheme exempts qualifying supplies, intra-EU acquisitions and imports. Bars and wafers generally need accepted bullion-market weights and at least 995 fineness. Coins use a four-part test. Jewellery, scrap, granules and collectible objects should never inherit the exemption from purity alone.
PRODUCT DECISION MAP
Choose the product branch before asking whether the supply is exempt
A bar or wafer and a coin do not pass through the same legal test. Follow the applicable branch, stop when a cumulative condition fails, then preserve the invoice and exact product evidence for the transaction.
Boundary: The diagram summarizes the EU product definition. Current French administration, transaction facts and professional advice control; VAT treatment does not decide authenticity, resale tax or collector value.
BAR OR WAFER TEST
Form, market weight and 995 fineness work together
Not jewellery or fabricated ornament.
Document the recognized format.
Use refiner or assay evidence.
Preserve the invoice treatment.
A hallmark reading “999.9” answers only the fineness field. It does not establish accepted weight, investment form, ownership, authenticity or how the supply was invoiced.
COIN TEST
A coin must satisfy four cumulative conditions
Verify the precise issue.
Date is a statutory field.
Current or former in origin country.
No more than the Directive's allowed premium over contained gold.
The European Commission publishes an annual list of coins treated as satisfying the criteria. List status is tax evidence, not an authenticity grade or promise of liquidity.
INVOICE REVIEW
Check product classification before comparing dealer prices
- Match mint or refiner, issue, year, weight and fineness to the exact listing.
- Confirm whether the displayed total includes tax and delivery.
- Keep the invoice, payment record and product identifiers together.
- For a collectible premium, separate metal value from numismatic value.
- Do not infer sale-tax treatment from the VAT result.
PRIMARY SOURCES
Official law and administration pages, not dealer summaries
- EU VAT Directive, Articles 344–356 for the investment-gold definition, exemption and recordkeeping framework.
- French General Tax Code, Articles 150 VI–VM for the precious-metals transfer-tax scope, liability, rate and election.
Reviewed August 2, 2026. This material describes a general legal framework; residence, business activity, product classification, transaction location and current forms can change the result.
FAQ
France investment-gold VAT questions
What purity must an investment-gold bar have?
The EU definition uses at least 995 thousandths plus a bar or wafer form and a weight accepted by bullion markets.
What purity must an investment-gold coin have?
The coin test begins at 900 thousandths and also requires minting after 1800, legal-tender history and the statutory normal-price condition.
Is every French gold coin VAT-exempt?
No. The exact issue and transaction must satisfy the investment-gold rules. Collector value or a seller's bullion label does not replace the legal test.
Does VAT exemption remove tax when I sell?
No. VAT at acquisition and French tax on a later transfer are separate systems.