Italy is planning a one-off levy on private gold ownership. This would place private gold assets under state control.
Italy wants to tighten its grip on its citizens’ gold holdings: a new plan envisages that private gold ownership will effectively be placed under state control. The gold assets of Italians must then be reported to Rome – this certification will also cost citizens a lot.
Source: 28 November 2025 by Thomas Oysmüller
Under the plan, citizens will have to pay 12.5 per cent of the current value of their own gold deposits in order to have the gold certified as legal and in accordance with the law. Their possession has never been illegal; undocumented gold holdings, for example from family estates, are particularly affected. All of this is to be voluntary (at least for the time being) – the state is offering an incentive.
Italians currently pay 26 per cent of the total proceeds from the sale of gold in tax to the state. Only France is even more heavily taxed here. Anyone who has their gold certified only pays the 26 per cent tax on the actual profit (selling price minus purchase price) in the event of a subsequent sale, provided that the purchase price can be proven.
Italians are therefore increasingly using the black market to trade in gold. The government sees lost tax revenue. According to some estimates, private gold ownership in Italy amounts to 4,500 to 5,000 tonnes, which corresponds to a value of around 500 billion euros at current prices. Due to the boom on the gold market, sales have recently risen dramatically, driven by households turning old jewellery and coins into cash, according to the Italian magazine Metropolitan.
Blackout News writes about the plans in Rome, which have met with fierce criticism from the opposition:
“In Italy, coins, bars and jewellery have been stored in private hands for generations. Families often handed over these valuables without receipts. This tradition now serves the state as a justification for “modernisation”. In reality, however, a measure is being introduced that will draw private assets deep into a new supervisory system. Politicians are talking about order, but the reform primarily brings fiscal benefits.
Many owners are now faced with a dilemma: they own legal property, but it is difficult to sell without receipts because the 26 per cent levy eats up the value. Now the state is asking for money to lower this hurdle. The structure resembles a state sale of indulgences, where freedoms that were previously taken for granted are sold. The new certification does not arise from a real need, but from a strategic interest in additional funds.”
Rome wants citizens to have until July 2026 to certify their precious metal. The state assumes that only 10% of privately held investment gold is currently certified. It is estimated that this would generate additional state revenue of over 2 billion euros. The debate is ongoing, but the government is likely to be in agreement.
