Fine gold deposits can be found in Danube River to the south of Nuremberg and down toward it's confluence with the Rhine. Reports of gold here are that they are very fine textured, so careful panning is necessary. The Rhine River has also been known to have notable amounts of gold.
Welcome to Germany's largest gold deposit – the 'Eisenberg' near Korbach. Put on your rubber boots and helmet – and let's go explore the legendary gold lode.
From the Cold War to the eurocrisis
The fact that Germany has so much of its gold reserves in the US is a legacy of the Cold War when West Germany was menaced by the Soviet Union's presence in the East of the country. To keep its gold well beyond Soviet reach, Germany lodged the bullion with the US Federal Reserve.
Apart from the Rhine, professional German gold prospectors also recommend certain sections of the rivers Elbe, Isar and Inn as promising sites. Smaller rivers such as the Eder, Wietze, Göltzsch, Striegis, Schwarza, Aller or Grümpen are also well worth a look, according to the web portal Gold.de.
About 244,000 metric tons of gold has been discovered to date (187,000 metric tons historically produced plus current underground reserves of 57,000 metric tons). Most of that gold has come from just three countries: China, Australia, and South Africa.
In Australia this concentration of gold took place in the Earth hundreds of millions of years ago in the eastern states, and thousands of millions of years ago in Western Australia. As well as gold, the fluids can carry other dissolved minerals, such as quartz. This is why gold is often found with quartz.
Australia is estimated to have the world's largest gold reserves, with 9,500 tonnes or 17 per cent of the total world estimated gold reserves of 57,000 tonnes.
Goldmark (officially just Mark, sign: ℳ) was the gold standard-based currency of the German Empire from 1873 to 1914.
Many people have only heard of gold mining in Germany from the ages when Romans discovered and mined gold in different areas in the country. Gold mining in Germany actually goes back as early as the Neolithic ages and indicates that Germany held and continues to hold reasonable amounts of gold deposits.
Germany actually has one of the lowest rates in the EU at 19%. The United Kingdom, home to a number of easy-to-use online gold dealers and numerous offshore gold vaults, has a 20% VAT on silver.
The United States has the largest gold reserve, with more than 8,000 metric tons of gold. This was more than twice the gold reserves of Germany and more than three times the gold reserves of Italy and France.
The largest gold holding country in Europe as of end 2021 was Germany, with over 3,359 metric tons.
It is estimated that nearly 91 tonnes (100 short tons) of Nazi gold were laundered through Swiss banks, with only 3.6 tonnes (4 short tons) being returned at the end of the war.
Pursuant to Part 1 (3) of the Bundesbank Act, the Bundesbank shall hold and manage the foreign reserves of the Federal Republic of Germany, including gold reserves, which are distributed among four storage sites worldwide: Deutsche Bundesbank, Frankfurt am Main ( BBk ); Federal Reserve Bank of New York ( Fed ); Bank of ...
South Africa and the US host two each of the world's ten largest gold mines, while Indonesia, Russia, Papua New Guinea, Chile, Australia, and the Dominican Republic house the remaining. South Deep gold mine in South Africa has the largest gold deposits in the world.
The colors symbolized national unity and civic freedom. In 1848, in Frankfurt, the Bundestag (parliament), like the German National Assembly, declared black-red-gold to be the colors of the German Confederation or the German Reich that was to be founded.
In Germany, 18ct gold is the most popular material in jewellery manufacture, which is due to the excellent properties of the material in the manufacturing process, its high value and its unique appearance. 18ct gold has a fineness of 18 carats and is mostly composed of silver, copper and, of course, pure gold.
The gold stored in the U.S. was acquired by West Germany during a period of trade surpluses with the U.S. before 1970. The gold was never repatriated to Germany due to fear of invasion by the Soviet Union.
Tax Matters and Gold Trading
In Germany, gold is seen as an investment and therefore is exempt from VAT (sales tax). However, impure gold coins and other items can be subject to VAT, but these are usually not worth investing in or purchasing for this purpose.
Gold is considered a hedge against inflation
Gold and other precious metals have long been considered a smart way to fight inflation. That's because it tends to hold its value and preserve your purchasing power over the long haul, despite fluctuations in the dollar.
When entering Germany or another EU member state, there is an EU-wide import tax exemption limit of €10,000 for gold, beyond which the precious metal must be declared.
It is perfectly legal to sell and buy gold in Australia. You can sell a kilo of gold bars, a wedding ring or an old coin. The Australian government has set guidelines for the sale of precious metals. There is no restriction on the weight or value of precious metal.
Leading markets for gold exports from Australia FY 2022
China was the leading export destination for Australian gold in terms of value.
As part of Australia's official reserve assets, the Reserve Bank holds an amount of gold.