The starting point is always the same: the international gold price, set daily on the London market and published in dollars per ounce. We explain it in how the gold price is set. Whatever you are paid is measured against that benchmark; what changes is how much discount each buyer applies and why.
Not all gold is equal
Investment bars and coins
Certified purity and a recognised format. They sell close to the metal price because the buyer can resell them without melting them. This is the gold that best holds its value when you sell.
Jewellery and low-carat gold
It is paid for its fine gold content, which depends on the carats, and almost always as metal for melting. The craftsmanship is rarely paid for, except in designer pieces or antiques.
Collectible coins
Some are worth more than their gold because of rarity or condition. Selling them by weight gives away the difference: have them valued by someone who knows the numismatic market.
How not to undersell
Before selling, work out the metal value: weight in grams, times purity, times the day's price in euros per gram. With that figure in hand, compare written offers. Be wary of anyone who will not state the price per gram they apply, who wants to keep the piece "to have a look", or who rushes you. For investment bars and coins, look for a buyer who buys back investment products rather than one who pays for everything as scrap.
Gold buyers must identify you with your ID and record the transaction, so be wary of anyone who does not ask. And keep your purchase invoices or certificates: they prove purity, help you get a better offer and are the evidence of your purchase price for the tax authorities.
What about tax
If you sell for more than you paid, the difference is a capital gain declared in Spanish income tax (IRPF). If you inherited the gold, the purchase value is the one declared for Inheritance Tax. The detail is in the tax on selling gold and in inheriting physical gold.
How we do it at Equus Capital
When a client wants to sell, we first value each piece at the day's price, separate investment products from metal for melting and stay with them through the sale so they get its real value. And if what they want is to reorganise their wealth, we explain the alternatives before they sell.
Frequently asked questions
How do I know what my gold is worth?
Multiply the weight in grams by the purity and by the day's gold price in euros per gram. That is the benchmark for the metal value; compare offers against it.
Is a bar paid the same as jewellery?
No. Investment bars and coins sell close to the metal price; jewellery is almost always bought for its fine gold, as metal for melting.
What documents do I need to sell gold in Spain?
Your ID, because the buyer must identify you and record the transaction, and if you have them, the purchase invoices or certificates.
Do I have to declare the sale of gold?
Yes, if there is a gain: the difference between the sale and purchase price is taxed in income tax as a capital gain.
What should I do with old coins?
Have them valued by someone who knows the numismatic market before selling them by weight: some are worth more than their gold.
Risk notice. This content is for information only and is not personalised investment advice. Investing in real assets such as metals, loans or property involves risks, including the possible loss of capital, and past capital gains do not guarantee future results.