I am concerned about the solvency of banks generally, so I would like to convert bank deposits to gold. I plan to purchase the gold in UK, then take it to Spain.

Is there a limit to the amount of gold I can transport?

  • 7
    You may want to look at the resale value if gold before you attempt this. Also note the market fluctuation: the monetary cost of goods and services is much more stable than their value in gold.
    – phoog
    Dec 10 '16 at 14:30
  • 9
    Please do talk to an actual financial adviser before implementing this plan. Dec 10 '16 at 15:06
  • Depends. Are you flying and if yes which company? There are weight limits to your carry on and I presume you do not want to check in a suitcase full of gold bars. Or taking the train? I think even the train has some limits.
    – chx
    Dec 10 '16 at 15:12
  • For any significant amount of gold, let the dealer work out how to ship it to you. This is safer for everyone. Dec 10 '16 at 15:39
  • 2
    @chx Gold costs around US$37,000 per kilo so I doubt the asker will be bumping against their carry-on limits. Dec 10 '16 at 15:41

There is no limit.

The EU is a common market, so there is no limit to the amount of cash or goods you can move from one to the others, as long they have already passed the EU customs (which is not of application of your case).

There are some exceptions to this (drugs, military arms, excise goods as alcohol or tobacco who are taxed specifically by the governments) but gold is not one of them. In fact, IIRC gold bullion is considered more as an investment/currency than a purchase and it is exempt from VAT.

A different issue is that as most people have their assets in banks and use electronic transfers, people moving large amounts of cash and other untraceable valuables with them may be questioned by police officers about the source of those, as there is a risk that they have got them through criminal means.

If you pass some limit, you will have to declare the amount of gold that you are carrying with you. You should check with your bank/dealer what kind of documentation you need to show that your gold has a legitimate origin.

  • 5
    Additionally, you can always leave your money in your bank and buy the gold in Spain, the avoid the trouble of having to travel with it (unless you expect the banks to crash before you travel, of course).
    – SJuan76
    Dec 10 '16 at 15:25
  • 1
    Note on VAT and Gold: gov.uk/government/publications/vat-notice-70121-gold/…
    – pjc50
    Dec 10 '16 at 19:21
  • Actually, declaration requirements depend on the country.
    – Relaxed
    Dec 11 '16 at 13:55

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