International Selling Guide
Selling gold in your home city is simple: walk into a reputable dealer, show ID, accept a quote. Doing it in another country is a different game—KYC/AML checks, taxes, customs, FX, and safety all add moving parts. This guide gives you a step-by-step playbook to sell quickly, safely, and at a fair price anywhere in the world.
Introduction: Why selling precious metals internationally is different
On paper, selling gold abroad looks like a straightforward arbitrage: spot is global, so why not sell wherever you are? In practice, jurisdictional rules and market microstructures make international selling a specialized task. Your outcome depends on (1) who you sell to, (2) what you’re selling (bars vs coins, hallmarks, purity, documentation), (3) where you sell (regulatory burden, local spreads, cash limits), and (4) how you get paid (cash vs transfer, FX costs, repatriation).
Abroad, you must clear compliance (Know Your Customer and anti-money-laundering checks), demonstrate lawful ownership, and sometimes prove lawful import. Local markets quote different buy spreads against spot, often favoring high-recognition products (e.g., 1 oz government coins, LBMA-good bars). Finally, you must move the money home or into your multi-currency stack without losing 2–5% to FX spreads and wire fees.
The goal of this guide is twofold: help you maximize net proceeds (fair price, low fees, efficient FX) and minimize risk (scams, seizures, failed payments). Use the checklists and scripts; if you’re pressed for time, jump to the International Selling Checklist at the end.
Before selling, gauge market depth with our liquidity guide.
When you might need to sell abroad
Emergency liquidity while traveling
Cards frozen, transfer delayed, or a medical bill hits—selling a recognizable coin/bar in a major financial hub can bridge a cash crunch within hours. In emergencies, expect to accept a wider spread for speed. Your priority is reputable, same-day settlement (cash/instant transfer) with a clear receipt.
Tax optimization (selling in low/no CGT jurisdiction)
Some investors time disposals in jurisdictions where capital gains are exempt or more favorable. This is advanced planning: check tax residence rules, treaties, and anti-avoidance provisions first. Many countries tax residents on worldwide gains irrespective of where you sell—so changing the sale location doesn’t magically erase tax if you’re tax-resident elsewhere.
Arbitrage opportunities (regional premium differences)
Short-term premium differences exist (e.g., coin shortages in one region), but travel + compliance + FX often erase the edge. Arbitrage is feasible if you already hold inventory with recognized hallmarks and have ready buyers; otherwise, treat it as opportunistic, not a strategy.
Understanding premium mechanics helps you price your sale realistically.
Permanent relocation
Relocating? You may prefer to liquidate before moving metal across borders (customs declarations, insurance, risk). Selling in a deep, competitive market (London, Zurich, Singapore, New York, Dubai, Hong Kong) usually yields tighter spreads and clean paperwork.
Legal and tax considerations
Reporting requirements in your home country
Even if you sell abroad, many countries tax residents on worldwide gains. Keep invoices, purchase dates, and cost basis (spot + premiums + shipping/insurance). You’ll need proof of proceeds (sale receipt, bank statements) and FX rate used for reporting. If your home country has wealth tax or asset reporting, sales may also affect filings.
Reporting requirements in sale jurisdiction
Some countries require dealers to file local reports for high-value transactions or non-resident sellers. Expect to share passport, address, and possibly tax ID. If you’re selling to a refiner or large dealer, their compliance team will explain required forms and payment limits (especially for cash).
Capital gains tax treatment
CGT is not harmonized internationally. Some jurisdictions tax short-term gains at income rates, others offer long-term relief. If you’re non-resident in the sale country, the taxing right often still sits with your home country, but verify source-based rules.
Withholding tax for non-residents
Rare for private gold sales, but possible if the transaction is structured through an entity or under specific local rules. Ask the buyer explicitly whether any withholding applies.
Treaty benefits (if applicable)
If a country does withhold on certain gains (e.g., entity-level disposals), double-tax treaties may reduce rates. For private individual bullion sales, treaties are usually not invoked—but know the concept if a buyer mentions withholding.
Money laundering compliance (AML/KYC)
Expect KYC: passport, proof of address, sometimes source-of-funds (especially for recent purchases, large tickets, or patterns that look commercial). Cash thresholds are common: above certain amounts, dealers must file reports or refuse cash entirely. Answer questions factually and provide documents quickly to avoid delays.
Finding reputable buyers internationally
Established dealers in major cities
Target dealers clustered in financial/diamond/gold districts (e.g., London’s Hatton Garden, New York’s Diamond District, Singapore’s Raffles Place/Chinatown, Zurich’s Bahnhofstrasse area, Dubai’s Gold Souk). Shortlist 3–5 shops, call for live quotes, and ask: accepted products, spread vs spot, payment methods, and same-day settlement.
Auction houses (for numismatics)
If your coins have numismatic value (graded, rare dates, proofs), consider auction or specialist dealers. Expect seller’s fees and a timeline (weeks). For pure bullion, auctions rarely beat a top bullion dealer’s bid after fees.
Refiners (for larger quantities)
For kilo-level bars or mixed scrap, refiners can buy near-spot less assay/handling. Settlement may take 1–3 business days (assay). Ensure you understand sampling, deductions, and whether the final price is fixed at drop-off or at assay.
Peer-to-peer platforms
Local P2P groups can work for small lots of popular coins. Mitigate risk by meeting at a bank branch or reputable dealer willing to verify authenticity (you may pay a small fee). Never meet in isolated places; avoid cash-only with strangers.
Red flags to avoid (scams, lowball offers)
- “Final price after assay” with no written fee schedule.
- Refusal to return items if you reject the quote.
- Cash-only insistence for five-figure amounts.
- Bait-and-switch web price vs in-store price.
- High-pressure sales tactics for “store credit” instead of cash.
Verification and KYC requirements
Passport/ID documentation
Bring a passport (plus a backup photo ID if available). Some shops require two forms of ID for non-residents.
Proof of ownership (original receipts, import declarations)
Receipts showing dealer, date, product, purity, serials (for bars) smooth KYC. If you imported the metal, keep customs declarations—these prove lawful entry and avoid suspicion of smuggled goods.
Residency verification
Utility bill or bank statement dated within 90 days. If nomadic, your mail service/registered address plus a statement usually works. Some dealers accept digital PDFs; others want paper.
Tax identification numbers
Some buyers request a TIN or national ID for regulatory filings on high-value transactions.
Source of funds explanations
If you bought recently or in large quantities, expect questions. A simple explanation—“long-term savings/portfolio hedge”—plus purchase invoices generally suffices.
Valuation and pricing
Getting multiple quotes
Call 3–5 dealers with the exact SKU (brand, weight, purity, year if relevant). Ask for bid vs spot and all fees (assay, handling, bank wire fee). Quotes can differ by 1–2% for the same item in the same city.
Understanding local premium/discount to spot
- 1 oz government coins (Maple, Britannia, Krugerrand): often spot − 0.5% to −2% buy bids in competitive hubs.
- 1 oz/100 g bars (recognized refiner): commonly spot − 0.5% to −1.5%.
- Odd brands/damaged packaging: deeper discounts.
- Numismatics: value depends on grade & demand; bullion buy desks may only pay melt.
Bid-ask spreads by country
Highly competitive hubs (London, Zurich, Singapore, New York, Dubai, Hong Kong) tend to have tighter buy spreads. Smaller cities or tourist zones often show wider spreads. If you can, travel to the hub or use insured shipping to a top buyer.
Negotiation tactics
- Lead with quantity: “I have 20 × 1 oz Maples in sealed tubes; what’s your bid if I bring all today by wire?”
- Be flexible on brand: “Dealer’s choice” lots often command higher bids than mixed odd pieces.
- Ask for tiering: Many desks improve by 0.2–0.4% for each higher tier.
- Walk-away power: If fees appear last-minute, walk. There’s always another buyer.
When to walk away
- The in-store price deviates from the quoted phone price without cause.
- The buyer adds “storage/administrative” fees not disclosed.
- The shop refuses written terms for assay-based deals.
Payment methods and fund repatriation
Cash (limits and risks)
Pros: instant. Cons: legal cash limits, personal safety, reporting. Many reputable dealers prefer no cash or cap at low amounts. If you must take cash, deposit quickly and declare where required.
Bank transfer (local vs international)
Best balance of speed + safety. For international wires, confirm SWIFT fees, intermediary bank charges, and FX rate (request mid-market + fixed markup or use multi-currency accounts with good rates).
Check (clearance times, fraud risk)
Checks are slow and add counterfeit risk in international contexts. Avoid unless it’s a known institution and you can wait for clear funds.
Escrow services (for larger amounts)
For six-figure transactions—especially with new counterparties—use escrow or depository transfers (metal moves vault-to-vault; funds release on receipt).
Getting funds back to home country
Route via your multi-currency account (e.g., USD/EUR/GBP receiving details) to dodge retail bank FX spreads. Then convert at low-markup and send to your home bank.
Currency exchange considerations
The FX spread can quietly cost 0.4–3.0%. Use rate-alert tools, convert on weekdays (some fintechs add weekend markup), and avoid Dynamic Currency Conversion traps when paying fees abroad.
Quick payment matrix
| Method | Speed | Typical Cost | Risk Notes |
|---|---|---|---|
| Local bank transfer | Same day | Low | Best for in-country settlement |
| International wire | 1–2 days | Low–Medium | Check intermediary fees & FX |
| Cash | Immediate | None (but limits) | Safety, reporting, deposit limits |
| Check | 3–7 days | Low | Clearance delays, fraud risk |
| Escrow | 2–5 days | Medium | Best for large, new counterparties |
Country-specific selling guides
For rare pieces, consignment to auction can beat dealer bids.
United States (major dealers, competitive market)
Large cities host high-volume bullion dealers with tight bids. Expect full KYC, especially above certain thresholds. Wire is common for larger sales; checks often require clearance. Sales tax generally doesn’t apply to your sale of bullion (it’s on purchases), but income tax on gains still applies for US residents. Bring recognizable bars/coins; odd items sell at melt −.
United Kingdom (London gold market)
London is deep and competitive. Dealers favor UK-legal tender coins (Sovereign, Britannia). Expect tight bids for standard bullion, better for pristine coins. Payment by Faster Payments or CHAPS is common. CGT exists for most bullion, but Britannias/Sovereigns are CGT-exempt for UK residents; as a non-resident selling in London, your home country’s rules still matter.
Switzerland (Zurich)
Zurich offers refiners and private banks with professional processes and tight spreads on recognized bars/coins. Settlement typically same day by wire. Strong KYC standards; documentation is scrutinized. Ideal for kilo-bar dispositions.
Singapore (tax-efficient retail)
Singapore is investor-friendly with GST exemption for investment-grade gold and a vibrant retail market. Dealers around Raffles Place/Chinatown offer competitive bids and quick wires. KYC is robust; carry receipts and serials.
Hong Kong (free-port trade)
Active retail, especially for 1 oz coins/bars. Many shops are cash-heavy, but reputable dealers offer bank transfer. Scrutinize assay/testing fees and insist on written terms.
UAE/Dubai (gold souks, cash-centric)
Dubai’s Gold Souk and financial center host numerous buyers with narrow spreads on popular products. Cash culture persists, but legitimate dealers readily wire funds. Expect KYC and sometimes detailed questioning for non-residents.
EU countries (documentation focus)
Across the EU, buyers follow strong AML/KYC procedures. Expect wider spreads in smaller markets; larger hubs (e.g., Berlin, Vienna) are more competitive. VAT is not charged on your sale of qualifying investment gold; silver markets vary by country. Your resident CGT still applies.
Documentation for the sale
Bill of sale / sales receipt
Get a signed receipt with: buyer details, your details, item description (brand, weight, purity, serial), quantity, unit price, gross proceeds, date, and payment method.
Copy for tax records
Scan and store PDFs of receipts, bank confirmations, and FX conversions. Name files with UTC timestamps and currency codes (e.g., 2025-03-02_SGP_Sale_20xMaple_SGDtoUSD.pdf).
Export documentation (if removing proceeds)
If carrying cash or negotiable instruments, learn the declaration thresholds for exit and entry. When wiring, keep SWIFT confirmations.
Customs declarations (if hand-carrying replacement cash)
Crossing borders with €/$10,000+ in cash/monetary instruments triggers declarations in many places. Avoid seizures: declare when required and keep your sale receipt handy.
Safety and security
Transporting metals to buyer
Use unbranded bags and vary routes/times. If possible, pre-book a private client room. For large lots, consider armored pickup or vault-to-vault transfer.
Meeting location safety
Prefer dealer premises with security and cameras. For P2P, meet inside a bank branch during business hours and use their counting and verification services.
Avoiding robbery/scams
Trust your instinct—if a price is too good or the setting is wrong, leave. Keep proceeds digital when possible; avoid walking out with cash.
Using dealer facilities vs public meetings
Legitimate shops will welcome testing in front of you and provide written quotes. Public meetings are a last resort for small transactions only.
Selling vs shipping home
When it makes sense to sell abroad vs ship/carry back
Sell abroad when:
- You need liquidity now.
- Destination spreads are tighter than at home.
- Customs or carriage risk is high.
Ship or carry home when:
- Your home dealer pays better.
- You have established relationships and bulk pricing.
- You want clean tax documentation in your home jurisdiction.
Shipping costs and insurance
Insured logistics can run 0.3–1.0% of value plus fees. For kilo-level or multi-kilo shipments, insured, trackable methods (armored, registered) are mandatory.
Import duties and taxes upon return
Investment-grade gold often enters duty-free, but declare properly. If you re-import silver/other metals, VAT may apply. Model the full landed cost vs selling abroad.
Break-even analysis
Compare: (local buy spread + transport/insurance + time risk) vs (foreign buy spread + FX + repatriation). Choose the path with the higher certain net and lower risk.
Emergency liquidation scenarios
Finding buyers quickly
Search central districts for “gold buyer” + city, filter to high-review shops, call for phone bids, and pick the top two for in-person verification.
Accepting lower prices for speed
When time is the constraint, pick buyers offering instant wire/cash with clear terms. Paying 0.5–1.0% more in spread is often worth hours vs days saved.
Pawn shops as last resort
Use only for small amounts and expect deep discounts. Document everything.
Online platforms with fast payment
Some platforms offer express buy with same-day labels and payment upon scan/assay—good if you have a day or two and a reliable address.
Common pitfalls and how to avoid them
Undisclosed fees and deductions
Demand a written quote with all fees. If an “assay fee” appears post-facto, walk.
Bait-and-switch pricing
Confirm the exact SKU over the phone and screenshot the quote. If the in-store price shifts without cause, leave.
Unexplained “assay fees”
For sealed, recognized bars/coins in standard condition, many buyers can bid without full melt assay. If the shop insists on assay, get turnaround time and fee schedule in writing.
Refusal to return items after inspection
Never surrender metal without paperwork stating it will be returned on request if you decline the final price.
Payment delays or excuses
Agree on payment time before handing over. For wires: “Funds same day by 17:00 local time” in the receipt.
Record-keeping for tax purposes
What to document
- Purchase invoices (date, dealer, item, quantity, price).
- Sales receipts and payment confirmations.
- FX rate used (note source/UTC).
- Shipping/insurance (if any).
- Customs declarations and KYC docs.
Currency conversion rates for reporting
Use an official daily rate (central bank or tax authority-accepted source) on the trade date. Save a PDF of the rate page.
Professional tax advice recommendations
If amounts are large or you have multi-jurisdiction exposure, hire a cross-border tax adviser. A 30-minute consult can save a painful amendment later.
Your international selling checklist
- Pre-sale: Inventory items (brand, weight, purity, serials), scan receipts, choose target market (city), request 3–5 phone quotes.
- Compliance pack: Passport, proof of address, purchase receipts, import docs (if any), your tax ID (if requested).
- On the day: Meet at reputable premises, insist on written terms (fees, payment time), and prefer wire to cash.
- Pricing: Know fair bids for your SKU; walk if last-minute fees appear.
- Funds: Receive to multi-currency account, convert at low-spread rates, repatriate by wire.
- After: File receipts, FX evidence, and add notes for your tax return.
Sell where markets are deep, buyers are professional, and paperwork is clean—your net proceeds and stress levels will thank you.
FAQs
Can I just walk into a random gold shop abroad and sell?
Yes, but you’ll get a better outcome by pre-screening reputable buyers, confirming spreads, and bringing documentation.
Will I pay tax where I sell?
Usually your home tax residence governs CGT on your gains, even if you sell abroad. The sale country may require reports/KYC. Confirm your facts with an adviser.
Is cash better than a wire?
For small amounts, maybe—but wires are safer and easier to document. Cash can trigger declarations and deposit limits.
Do recognizable coins sell better than bars?
Often yes for small lots. For larger lots, recognized bars with assay/serials sell near coin bids in competitive hubs.
