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The Change in Anonymous Purchase of Gold in Germany

Since the beginning of the year, the Germans have been in rush to go for cash purchases of gold. According to a new law, Germans cannot buy gold worth €2000 with bank currency without submitting customer due diligence procedure. The procedure includes submission of data like your name, address and date of birth. Before the law came into enactment, customers could make purchase of gold to €10,000 and they never had to submit any important ID details.

Well, this hasn’t ever been done in Germany before and no such regulations have ever been applied to gold. However, US did pass such a law in 1970 where all American sellers were required to submit currency transaction reports on any cash purchases above $10,000. The report should include name, address along with their social security number. Similarly in Canada, reports submission became mandatory above $10000 in the year 2000.

Well these steps were taken to cut down capability to transact anonymously across different industries. It was done with good intentions by the policymakers. It would help in lowering money laundering and dealing with terrorism financing 

The private window to purchase gold via electronic money and cash is getting small with every passing day

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Well the AML hasn’t just restricted the purchase of high-value goods with cash but there are others things to restrict. For instance, a European citizen is not allowed to have money in unidentified online wallet. The highest amount which can be stored in the wallet was € 250 which further AML reduced to € 150. Even the anonymous online purchases have been capped at €50.

Comparatively, the German rules on electronic money just like their rules on purchase of gold have been stricter in comparison to the ones stipulated by the other EU directive. Germany has set a restriction of Euro100 on anonymous purchases for the past few years now.

But not all restrictions on anonymous gold purchase surpass from the European progression anti-money laundering directives. Several European nations have crafted their own general limits on the amount of purchase which can be made with cash or anonymously. For example, in France it is illegal to buy anything with cash which surpasses €1000, while in Spain there is a limit of €2000 and in Germany you have no limit.

So, coming back to the decision of German government to lower anonymous purchase of gold to Euro 2000- in face it may sound like a great policy because it limits the window for terrorists groups and money launderers to transform their schemes to reality, but this may not be case at all.

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Maybe Germany limiting anonymous gold purchase to Euro 2000 is a good thing, maybe it is not. It is just an arrow shot in the dark. In order to make us buy their anonymity-reducing rules, lawmakers should start making a better effort to back their claims up. Not only they should offer a better job to quantify the advantages of anti-money laundering efforts, but they should also measure the amount of lost anonymity.

However, with the government getting more and more in debt and the Central Banks combating deflation, there is rise in things of how much can the government extract from its citizens. Every time the government fights with debts, it enforces endless new taxes and rules. With taxes raining on the citizens this year, if you own property, then you would be knowing what we are discussing here.

The value of gold ownership has risen beyond the value of the gold itself:

  1. Gold is the highest movable and untraceable metal which people know.
  2. Gold is anonymous
  3. Gold works as a global investment and can be converted into currency anywhere, at any time.

The benefits of anonymous gold purchases:

  • With easygold24, you can easily buy gold anonymously in as much amount you want for any amount online, without submitting any documentation or ID proof.
  • You can get the gold delivered at your address and move it freely anywhere without having to fill any forms or upfront agreement
  • Anonymous gold is fully free from any type of government confiscation or problems. As long as you don’t tell it to anyone, it belongs to you.
  • The gold can be sold anywhere to bank or a bullion company at  future year to avail benefits

With easygold24, you can buy gold in different sizes between 0.10g to 1kg. You can choose the denomination on your own. The best thing about buying gold anonymously from here is the guarantee of carat you get. All the gold bars are LBMA certified. You can buy the gold in different payment options like bank transfer, PayPal, credit card, simple debit, Tether Coin, True USD and USD Coin. You can also pay anonymously with cryptocurrencies and you will not have to submit any personal ID.

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So, you can buy as much amount of gold you need from the and own it anonymously. And, you can sell it after sometime directly to EasyGold24 or anywhere else in the world to claim your profits. Yes, you can either sell it to them or resell it to any bank or trader. There is no obligation that you have to sell it to them only. Once you order the gold, it reaches to you in 5 to 10 day. You will be provided with a tracking number to help you track your shipping.

So, with so much of regulations that you cannot purchase gold anonymously higher than a particular amount, EasyGold24 gives you the luxury to do so without any problem. Just fill in your details, fill in the quantity of gold you need and the denomination you need and then you are good to proceed. Surely you can have as much supply of gold you want and get it delivered to your address without submitting any identification proof. So, go ahead and start making your purchase now without wasting a single minute and own as much gold as you want.

About Suzan Vega