Gold trading in Italy is a regulated activity. Knowing the rules matters for operators and customers alike, because they guarantee transparency, security and protection for everyone involved.
Who may buy and sell gold
In Italy, trading gold professionally is reserved for Professional Gold Operators (OPO), authorised by the Bank of Italy under Law 7/2000. Registration on the OPO register is mandatory for anyone trading gold on a professional basis.
Beyond OPO registration, operators must also be registered with the OAM (the Italian register of agents and brokers) and hold the corresponding PASI public-security licence.
What customers need to provide
To sell gold to a professional operator, you must:
- Show a valid photo ID
- Provide your Italian tax code (codice fiscale)
- Sign the paperwork required by anti-money-laundering law
When the operator pays you, payment must be made through traceable means — bank transfer or cheque — never in cash, as required by Legislative Decree 92/2017, which applies specifically to gold-buying businesses. When you buy investment gold (bars and coins), cash is permitted up to €4,999, in line with the general anti-money-laundering threshold.
Customer due diligence
Legislative Decree 231/2007 (Italy's anti-money-laundering law) requires gold operators to carry out customer due diligence. In practice this means:
- Identifying the customer via a photo ID
- Recording every transaction in the anti-money-laundering archive
- Reporting suspicious transactions to the UIF (Italy's Financial Intelligence Unit)
These obligations are not box-ticking: they are safeguards that protect everyone, and they are what separates a serious, regulated operator from informal — and potentially illegal — alternatives.
Reporting to the Bank of Italy
All gold transactions are reported to the Italian tax registry. In addition, once a single customer's cumulative transactions reach the €10,000 threshold, a specific report to the Bank of Italy/UIF becomes mandatory.
VAT on gold
Investment gold (bars of 1g or more with a purity of at least 995/1000, and certain gold coins) is exempt from VAT under Law 7/2000. "Used" or industrial gold is subject to standard VAT instead, under the reverse-charge mechanism.
How to check an operator's credentials
Before trusting anyone to buy or sell your gold, always check:
- Their listing on the Bank of Italy's OPO register
- Their OAM registration
- Their PASI licence
- An active VAT number
These details are public and verifiable. A serious operator displays them with pride.