How gold is priced in Italy
Italians follow the price of gold per gram: 24K for investment gold and 18K (750), the standard for Italian jewellery and the basis on which compro oro shops value old gold. The figures here are spot gold converted at today's EUR/USD rate — the metal value before premiums and, for jewellery, 22% VAT.
Oro da investimento and VAT
Under Law 7/2000, oro da investimento is exempt from VAT: bars and wafers of at least 995 fineness, and gold coins of at least 900 fineness minted after 1800 that are or were legal tender in their country of origin. Jewellery carries 22% VAT. Sales of scrap and industrial gold between businesses are taxed under the reverse-charge mechanism.
Tax on gains and selling old gold
For private individuals, a gain on investment gold is taxed at 26%. Keep your purchase invoice: since 1 January 2024, if the purchase cost cannot be documented, the whole sale price is treated as the gain (before that, only a quarter of it was). Shops that buy old gold (compro oro) must be registered with the OAM, the agents and mediators body, and must pay amounts of €500 or more by traceable means rather than cash. They pay below the metal value shown here.
The marengo, hallmarks and the Banca d'Italia
In Italy marengo is the name for the 20-lire gold coin of the Latin Monetary Union standard — 6.45 g of 900 gold, 5.806 g pure — and the term is also used for Swiss and French 20-franc coins of the same weight. The British Sovereign (sterlina) is also widely traded. Italian gold articles carry their fineness and an identification mark (a star, a number and the province code) that identifies the maker. Italy joined the international Hallmarking Convention in 2023. The Banca d'Italia holds the world's third-largest official gold reserve.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.