Glossary
ID requirement
When buying precious metals, Germany's Anti-Money Laundering Act requires valid ID above certain amounts.
Commercial precious metal dealers are classed as dealers in goods under Germany's Anti-Money Laundering Act and must identify customers above a specified threshold. For precious metal dealers, cash payments reach this threshold at €2,000, considerably lower than the general retail threshold.
Identification means presenting a valid ID card or passport and recording name, date of birth, address and identity-document details. This information is documented and retained solely to meet legal recordkeeping duties, not for advertising.
Reputable buyers also keep a purchase register recording each transaction's date, goods, weight and price. In practice, ID is therefore recorded for every purchase, including smaller amounts. A purchase with no documentation is a warning sign, not a benefit.
When the threshold is reached
For example, a 20 gram lot of 585 jewellery has a material value of 1.404,00 € at 120,00 € per gram of fine gold. At 90 to 95 %, the payout is approximately 1.263,60 to 1.333,80 €, still below the €2,000 cash threshold.
A kilogram bar of fine gold at 116.400,00 € is well above it. Identification is legally mandatory for such amounts, and many customers choose bank transfer instead of cash anyway.
What to bring to Nordhorn
Bring your items and a valid ID card or passport to our Nordhorn shop. A driving licence is insufficient because it does not contain all required information. Customers from the Netherlands can bring their Dutch ID card or passport.
Nothing more is needed: no appointment, notice or advance registration. If selling on behalf of someone else, such as a group of heirs, please contact us briefly beforehand so we can explain any additional requirements.
Your data is collected solely for this legal recordkeeping duty and is not used for advertising. Our privacy policy explains how long we retain it and who can access it. We are always happy to answer questions openly at the counter.