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In Denmark, investment gold is exempt from VAT, but only if it meets specific criteria. Gold bars must have a fineness of at least 995 parts per thousand and weigh more than 1 gram to qualify as VAT-exempt investment gold; bars weighing 1 gram or less fall outside this definition.

Gold coins can also qualify as VAT-exempt investment gold, but different requirements apply: fineness must be at least 900 parts per thousand, the coin must have been minted after the year 1800, it must be or have been legal tender in the issuing country, and it must normally not be sold at more than 80% above the gold value in the specific transaction. Coins that do not meet all these conditions are taxed under the ordinary VAT rules.

It is the responsibility of the dealer and buyer to ensure that a given coin or bar actually meets the conditions at the time of the transaction, as rules and practice can change.

It is important to distinguish between VAT and income tax. The fact that an item is VAT-exempt as investment gold says nothing about how any gain on sale is taxed in a private individual's finances. Taxation of gains or losses on the sale of gold depends on specific circumstances, such as the purpose of ownership and personal situation.

This text does not constitute individual tax advice, and a general tax exemption on the sale of gold should not be assumed. Questions about taxation of gains or losses should always be clarified with SKAT or a tax advisor, as the rules can be complex and depend on the circumstances of each case.

When looking at the price development of gold over time, it is important to understand that a rising spot price does not automatically equal a net return for an investor. Price charts typically show a market price without deducting buying and selling costs, dealer margins, storage, insurance, or any applicable taxation.

An actual return therefore depends on the price actually paid at purchase, the price achieved at sale after the dealer's spread, and any ongoing costs during the holding period. Two investors who bought gold on the same date may experience different actual returns depending on these factors.

When assessing whether a specific coin meets the requirements for VAT-exempt investment gold, documentation should be obtained from the dealer regarding the year of minting, fineness, and the coin's status as legal tender, as this information is often not clearly indicated on the coin itself.

Finally, investors should be aware that rules on VAT exemption and the thresholds mentioned can change over time due to new legislation or practice, and the current status should therefore always be confirmed with a dealer or the relevant authorities before a specific transaction.