Securities that are traded on the stock exchange or not: definition, list and taxation

A exchangeable coin is an officially listed gold investment coin, universally recognized and easy to resell worldwide. Conversely, a non-exchangeable coin Gold (known as collectible or numismatic) derives its value primarily from its rarity and condition, not solely from its weight in gold. Understanding this distinction is essential for investing in gold at the right price and anticipating taxes upon resale.

What is a tradable coin?

Also called listed item ou investment coinA tradable coin is a gold coin whose price is published daily and monitored by precious metal professionals. Its value is primarily based on its weight of pure gold, indexed to the gold price, plus a market premium. It is the most liquid form of physical gold for savers: it can be easily bought and sold, both in France and abroad.

The criteria for a tradable coin

To be considered eligible for trading on the stock exchange, a coin must meet several conditions recognized by the market:

• An official rating : the coin is among the investment coins tracked daily.
• A known and guaranteed gold assay : the fine gold content is standardized (for example 900 thousandths for a Napoleon).
• A period strike and an identifiable effigy Most of these parts are no longer manufactured today.
• Excellent state of conservation : no significant wear, no deep scratches, no oxidation.
• Wide distribution : the coin was minted in large quantities, which guarantees its liquidity.

Exchangeable or non-exchangeable coin: what's the difference?

The difference lies in the origin of the value. A coin traded on the stock exchange is essentially worth its weight in gold: its price follows the price of gold per gram. A non-tradable coin (a collector's item) can be worth much more than its weight in gold if it is rare, old, or in exceptional condition—but its value then depends on a narrower and more subjective numismatic market.

• Tradable coin : value backed by the price of gold, high liquidity, moderate premium, ideal for investing and diversifying savings.
• Non-exchangeable part : numismatic value (rarity, year, condition), collectors' market, potential for capital gains but more uncertain liquidity.

The main gold coins traded on the stock exchange

Here are the most traded investment coins, along with their fine gold content and purity. The 20 Franc Napoleon remains the historical benchmark in France.

The bonus: why two identical items don't have the same price

The price of a stock traded on the stock exchange consists of two elements: its intrinsic value (the weight of fine gold multiplied by the price of gold) and its Prime The premium is the difference, expressed as a percentage, between the market price of the coin and its value in gold alone. It varies according to supply and demand, the relative rarity of the year, and the state of preservation.

A well-preserved coin, sealed and accompanied by its invoice, generally commands a higher premium. To find out the current gold value before buying or selling, you can consult the live gold price.

Taxation of investment gold in France

Investment gold (tradable coins and bars) is VAT exempt At the time of purchase. At the time of resale, two tax regimes coexist and the private seller can, under certain conditions, choose the most advantageous one.

The flat-rate tax on precious metals (TMP)

By default, resale is subject to the flat-rate tax of 11,5% (11% tax on precious metals + 0,5% CRDS), calculated on the total selling pricewithout having to justify a capital gain. This is the system applied when the seller does not have a purchase invoice.

Capital gains tax (CGT)

If you have a purchase invoice in your name, you can opt for the actual capital gains tax regime: 36,2% (19% tax + 17,2% social security contributions) applied only to the capital gain. This system becomes very advantageous over time thanks to a a 5% annual reduction starting from the 3rd year of ownershipwhich leads to a full exemption after 22 yearsThat's why the purchase invoice and the seal are so valuable.

• Physical gold does not enter in your in the tax base for the real estate wealth tax (IFI).
• Investment gold is exempt from VAT, unlike investment silver, which is taxed at 20%.

Preserve and seal your investment coin

To preserve the indisputable nature of a tradable coin, keep it protected from shocks, humidity, and handling. The storage under approved sealThe seal, applied by a professional, protects the item while recording its characteristics and serial number. Combined with the purchase invoice, this seal constitutes proof of condition and crucial traceability for benefiting from tax breaks upon resale.

How to value and sell your stock marketable coins?

The value of a tradable coin fluctuates daily with the price of gold. Before any transaction, compare the pure gold content of your coin to the market price. Gold prices of the moment, then take into account the premium and the condition. At GOLDMARKET, the estimate is carried out in front of you, in complete transparency, and without obligation.

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