Buying a gold bar from an individual: a good idea?

Faced with the continued rise in prices, some are considering a peer-to-peer bullion purchase. The idea is appealing: no middleman, direct negotiation, and sometimes a more attractive price. But behind the opportunity also lie risks.

Buying gold outside of traditional channels may seem simple. A seller offers a gold bar, the price is attractive, and the deal is closed quickly. But this apparent ease can lead to costly mistakes.

The first advantage is the price. With no brokerage fees or markups, the price can be lower. This attracts buyers looking for a good deal.

Another advantage: discretion. For some,buying gold in person avoids administrative procedures and allows for privacy.

But it's precisely this discretion that can pose a problem. The trap with gold between individuals is the lack of guarantees. There's no guarantee that the ingot is authentic, that its purity is correct, or that the seller is acting in good faith.

It's often safer to use professional platforms like GoldUnion, which allow you tobuy and sell gold securely, with certificates and traceability.

Before any secure gold transaction, several steps are essential. The goal: to verify that the bar is what it claims to be, and that the sale is taking place in a reliable environment.

First check: appearance. The gold bar must have several visible elements: its weight, its purity (often 999.9‰), the name of the foundry, a serial number, and sometimes an official hallmark.

An ingot without a number or certificate immediately raises doubts. It is essential to obtain a document attesting to its origin. This also helps prevent cases of receiving stolen goods or counterfeiting.

Next, the ingot must be weighed. The weight must match the indicated weight. There are precise scales available to verify it to the nearest gram. Any anomalies could indicate counterfeiting.

A magnetic test is also recommended. Pure gold is not magnetic. If the ingot is attracted to a magnet, it's likely fake.

Some people use electronic testers. They measure the metal's conductivity to detect alloys. These tools are reliable, but require some experience.

It's also possible to hire a professional to verify an ingot. An expert can confirm its nature, assess its value, and issue a certificate. This adds a layer of security to the transaction.

Finally, price consistency is a good indicator. A bar sold 30% below market value is suspect. It's important to compare it with official values ​​and the current gold price.

The GoldUnion website offers a gold bar store with certified products. This helps avoid unpleasant surprises.

Abullion purchase between individuals is not completely anonymous. Even outside of a professional network, certain rules must be respected.

First, it is advisable to provide proof of the transaction. A receipt, a sales contract, or a written exchange stating the conditions (quantity, price, date, identity of the parties) can avoid disputes.

The sale of gold is a tax-regulated transaction. The seller may be subject to tax, depending on the applicable tax regime. A secure gold transaction therefore also involves tax procedures.

The buyer is not automatically liable for tax upon purchase. However, if they resell the ingot later, they will have to provide proof of origin and purchase price. Without proof, they risk being taxed on the entire amount via the flat-rate tax on precious metals.

In the event of an inspection, not being able to prove the origin of an ingot can lead to a reclassification or even suspicion of money laundering. This is an often-ignored, but potentially serious, gold trap.

It is also prohibited to pay in cash over €1,000 for this type of transaction. A bullion purchase between individuals must therefore be made by bank transfer or certified check.

A customs declaration is mandatory if you are transporting an amount exceeding €10,000 in gold. This includes bullion. Failure to comply with this obligation may result in the confiscation of your goods.

Caution is therefore advised. Buying gold in person does not exempt you from formalities. You must anticipate the consequences and comply with legal obligations.

Sometimes it's better to accept a slight price increase from an authorized dealer than to take unnecessary risks. Traceability, a guarantee, and compliance are well worth a few extra euros.

The security of your assets requires complete information, increased vigilance, and a structured approach. A well-acquired gold bar is a well-protected gold bar.