Some people want to buy gold anonymously. However, a series of myths can confuse people, making them make bad decisions when buying gold in this way. Below we will share some myths related to buying gold anonymously:
Some personal data must be provided
Purchasing gold anonymously means you are not required to provide personal or private information during the purchase process. Therefore, if you have to provide any personal information (an email, telephone, address, etc.) during the purchase process, we cannot consider the said purchase as if it were anonymous. That said, the purchase is no longer considered anonymous. Remember that anonymous purchases have no “intermediate points” since it is enough to provide a single personal data.
You can buy physical and paper gold
Many people believe that physical and paper gold can be purchased anonymously. However, anonymous purchases are generally related to the physical or face-to-face format since, in the case of buying paper or certified gold; this generates a record that can be traceable.
There is no limit
Some people think that you can buy gold anonymously in an unlimited way. However, each country has different purchase limits under this modality. For example, the limit to buy gold anonymously is 999 euros (from that amount, you must identify yourself); in the case of Argentina, it is allowed to buy gold anonymously up to 10,000 Argentine pesos, while in the case of Uruguay, anonymous purchases are only allowed up to $10,000.
It is risky
Some people think that buying gold anonymously is risky; however, if we buy gold from an official store or a reputable place (and do the corresponding authenticity tests ), we don’t have to worry. One of the main advantages of buying gold anonymously (regarding security) is that no one will know about the said operation, which is very useful for our security since this allows us to store the gold safely at home.
You cannot invest in bullion
Due to the limitations of each country, many investors believe that you cannot buy gold bars anonymously. Although we will not be able to acquire the standard format of a 400-ounce (12.4 kg) “Good Delivery” ingot due to its high value, the truth is that we can resort to other cheaper formats such as the “ten tola” ingot of 3.75 ounces or the 6 ounce “five tael biscuit” bar, both of which have lower prices and in some cases (depending on market value) will be below the allowable limit in some countries.