NB: Budget Law No 2013-1278 of 29 December 20, Art. II.-The provisions of paragraph I also apply to sales in other European Union Member States. I.-Notwithstanding the specific provisions applicable to business profits, transfers in return for remuneration or non-temporary exports of the following items to countries that are not European Union Member States are subject to the flat-rate tax specified in Articles 150 VJ to 150 VM:Ģ Jewellery, works of art, collectibles and antiques. VII quater: Duty on precious metals, jewellery, works of art, collectibles and antiques.Īmended by Law No 2013-1278 of 29 December 2013 - Art. In order to be tradable, gold bars must meet the standards of the London Bullion Market Association (LBMA), a professional body set up in 1987. The Banque de France is responsible for maintaining the integrity of the gold reserves, and ensuring that they can be traded on international markets. The gold reserves are stored in the underground vault “La Souterraine”, a highly secure, 1,000 m² hall located 27 m below ground level. Gold accounts for some 70% of the Banque de France’s foreign exchange reserves the remainder is made up of foreign currencies such as the dollar and yen. (On 4 January 2005, the price stood at EUR 320.124/ounce, and on 30 September 2009 it was EUR 682.628/ounce in comparison, the price on 1 July 2016 was EUR 1202.918/ounce. The last sales of gold took place between 20 as part of the Second Washington Agreement under which central banks agreed on a concerted programme of sales at a time when the gold price was particularly low. The Banque de France is the 4th largest custodian of gold, after the United States Federal Reserve and the central banks of Germany and Italy. The size of the gold reserves is 2,435 tonnes, which in 2015 were valued at EUR 76.2 billion.

Buying gold coins from banks