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Date: 17 July 2026Box 3 changes 2028: what does this mean for tax on your gold and silver?
Rolf van Zanten5 March 2026
Fiscal matters
Gifting precious metals: valuation, strategy and practical considerations
Gifting precious metals works the same tax-wise as gifting money: the same exemptions and rates apply, whether you transfer an amount or hand over a gold bar. The practice is different, though. With precious metals you must determine the value on the date of transfer yourself, the transfer is physical, and there are strategic choices that do not arise when gifting money.
In this article we specifically address what is involved when you gift gold, silver or platinum: how to determine the value in practice, which strategies are tax-efficient, and what to watch out for to avoid surprises for you or the recipient later.
Key takeaways from this article about gifting precious metals:
- A gift of gold, silver or platinum counts for tax purposes just like a cash gift; only the execution differs
- With precious metals you determine the value at the time of the gift yourself, not at the time of the original purchase
- Giving metal directly and selling it first to gift the proceeds both have pros and cons, depending on your goal
- Smaller denominations make it practically easier to stay close to the annual exemption threshold
- Gifting to a minor child does not automatically avoid Box 3 taxation for the parents
- If you, as the donor, pay the gift tax for the recipient, that itself counts as an additional gift
- Always record a gift of precious metals in writing, including value, date and origin
How do you determine the practical value of gifted gold, silver, or platinum?
The value of gifted precious metal is the market value at the time of the gift. In practice this means you must record the spot price, the weight and the purity of the item on the date of transfer.
For the full legal explanation of this concept we refer to the overview of gift tax exemptions; below are the practical steps.
- Determine the current metal value on the date of transfer. Use the spot price of gold, silver, or platinum on the day of the gift itself, not on an earlier or later date.
- Take weight and purity into account. A 100 gram gold bar with a purity of 999.9/1000 has a different value than a coin with a lower fineness or with numismatic value.
- Record the valuation in writing, including the date, the item, the weight and the price used.
- Keep the original purchase receipt. This is not the value that counts for gift tax, but it does prove the origin and authenticity.
Would you like an indication of the current value in advance? The prices on our pages for the buying of physical gold, physical silver and platinum provide a current, market-based reference point, even if you are not selling but only want to determine the value of a proposed gift.
Gift precious metal directly or sell it first?
Both are possible, with different practical consequences. A direct gift of coins or bars preserves the physical item for the recipient; selling and gifting the cash amount makes valuation and any tax payment simpler.
Gift directly or sell first: three approaches compared
| Approach | Advantage | Consideration |
|---|---|---|
| Gift metal directly | Recipient keeps the physical item; no selling and repurchasing costs | Market value must be substantiated; recipient may not have cash to pay any tax |
| Sell first, then gift the money | Value and tax amount are easy to determine; tax can be paid from the amount | Recipient does not receive the original item; the time of sale affects the proceeds |
| Combination of metal and cash | Recipient keeps precious metal and has liquidity for any tax | Metal and cash count together toward the total gift |
A practical risk with an indivisible large gold bar:
If gift tax is due, the recipient may not have cash available to pay it, and may have to sell the entire item to meet part of the tax. Smaller denominations or a combination of metal and cash prevent that.
Tax-efficient strategies when gifting precious metals
Those who want to transfer precious metals without paying unnecessary tax can combine a number of tried-and-tested gifting strategies with the physical properties of gold, silver and platinum.
Below are the four most commonly used approaches, from spreading gifts annually to smartly using the one-time increased exemption.
Annual recurring gifting
The annual exemption recurs each calendar year. By, for example, gifting a smaller gold bar or a few silver coins each year up to the exemption threshold, you can build up a substantial amount tax-free for the recipient over several years.
Because precious metals are available in smaller denominations, it is practically easier to stay close to the exemption threshold than with one large gift at once.
Combining the one-time increased exemption
For a child between 18 and 40 years old, you can choose the one-time increased exemption in a single year instead of the annual exemption. This can be attractive when you want to transfer a larger amount of precious metal at once, for example on a milestone, rather than spread over several years.
Gifting during life reduces later inheritance tax
What you have already gifted during your lifetime is no longer part of your estate. Because inheritance tax is progressive, a smaller final estate may be taxed at a lower rate. Of course, it is wise to discuss this with your own notary or financial advisor.
Note: paying the gift tax yourself counts as an additional gift
If you as the donor pay the gift tax due, the Tax Authority considers that payment itself as an additional gift. That increases the total taxable acquisition and therefore the final tax amount.
A gift of gold, silver or platinum is treated for tax purposes the same as a gift of money.
Practical considerations: gifting without complications later
In addition to the tax side, a few practical matters also deserve attention, precisely because this concerns a physical and stable-value asset. The points below help you record and arrange the gift so that no uncertainty arises later about ownership, value or the intention of the gift.
Put the gift in writing
A notarial deed is not legally required for movable property such as precious metals, but a private gift agreement with date, product, weight, value and the names of both parties prevents disputes afterwards.
Consider an exclusion clause
Without this clause, gifted assets may become part of the community property in the event of a future marriage or registered partnership of the recipient. An exclusion clause in the gift agreement ensures that the gifted precious metals remain the recipient's private assets.
Gifting to minor grandchildren
The assets are generally managed by the legal representative, usually the parents. If you want to retain influence over when the child can access the precious metals, a guardianship provision can be included in the agreement.
Note a common misconception: gifting to a minor child does not automatically prevent the assets from being included in the parents' Box 3 taxation, because these assets are usually attributed to the parent with custody. The gift tax exemption itself still applies.
Arrange the physical transfer and storage
Gifted precious metals can be handed over personally, sent insured, or remain in professional storage in the name of the recipient, for example via Edelmetaal Beheer Nederland (EBN). Ensure that the registered owner is actually changed after the gift.
Gifting on paper: only for specific situations
In this construction you do not transfer precious metals physically, but acknowledge a debt via a notarial deed. The recipient then obtains a monetary claim against you equal to the amount at that time, not the metal itself. This construction is less common for physical precious metals; always obtain specific advice on this.
Take the 180-day rule into account
A gift made shortly before the donor's death, within 180 days, can still be included in the estate for inheritance tax. This is particularly relevant for a gift made at an advanced age or during illness.
Gifting precious metals is a good way to transfer tangible wealth to the next generation. For tax purposes it works the same as gifting money, but valuation and physical transfer require a little more care. Always record it in writing to avoid uncertainty, even years later.
Rolf van Zanten - founder The Silver MountainConclusion: gifting precious metals in a tax-efficient way
Gifting precious metals follows the same exemptions and rates as gifting money; the difference is in the execution. Determine the value carefully on the transfer date, choose consciously between giving directly or selling first, use the annual exemption over multiple years if desired, and put the gift in writing. This way you transfer assets without creating surprises later for you or the recipient.
Disclaimer:
The Silver Mountain does not provide tax, legal or individual investment advice. This article is intended for information purposes only. For a specific gift, always consult a notary or tax advisor.
These are the most frequently asked questions about gifting gold or silver.
Frequently asked questions about gifting precious metals
1. How do I record the value of gifted precious metals for my records?
Record the date of the gift, the weight and purity of the product, and the spot price on that specific day. This is the value that counts for gift tax, not the original purchase price. Keep this documentation together with the original proof of purchase.
2. Is it more tax advantageous to gift precious metals or to sell them first and gift the money?
Neither is more tax-advantageous; the allowances and rates remain the same. The difference is practical: gifting directly preserves the physical product, while selling simplifies valuation and any tax payment. The choice depends on your objective and the recipient's liquidity needs.
3. Can I gift precious metals annually to gradually transfer wealth?
Yes, the annual exemption applies again each calendar year. Smaller coins or bars make it practically easier to stay close to the exemption threshold each year than with one large gift at once.
4. What happens if I pay the gift tax for the recipient?
If you as the giver pay the due gift tax, the Tax Authorities regard that payment itself as an additional gift. This increases the total taxable acquisition, resulting in a higher final tax amount than if the recipient paid themselves.
5. Does gifting to my grandchild prevent the assets from being included in my Box 3?
No, not automatically. For a minor child, the assets are generally attributed to the parent with custody, not to the child. For an adult grandchild, the assets are registered in the recipient's name. The gift tax exemption still applies in both cases.
6. Does gifting during my lifetime reduce the inheritance tax my heirs will pay later?
Yes, what you have already gifted during your lifetime no longer forms part of your estate. Because inheritance tax is progressive, a smaller estate can be taxed at a lower rate. The precise impact depends on your situation and warrants advice from a tax advisor or notary.
7. Do I need to notarize a gift of precious metals?
No, a notarial deed is not legally required for movable property such as precious metals. A private gift agreement is generally sufficient, although a notary can provide additional protection, for example with an exclusion clause.
8. What happens if I die shortly after the gift?
A gift within 180 days before the donor's death can still be included in the estate for inheritance tax purposes. This is particularly relevant for gifts at an advanced age or during illness. If in doubt, consult a notary or tax advisor.
Rolf van Zanten is the founder and owner of The Silver Mountain, a specialist in physical precious metals since 2008. With nearly twenty years of experience in the precious metals trade, Rolf shares his expertise on investing in gold, silver, and platinum in an accessible and reliable way. His knowledge of the international gold and silver markets helps investors make well-informed decisions. In his role as an expert, he strives to ensure that transparency, security, and trust are at the heart of every purchase.
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