I want a small portion of my assets in crisis safely in gold and silver to create. When gold is not according to tax calculated on silver though. How does the VAT when sold out? Why this difference in treatment? Andreas R., Hamburg With the purchase of precious metals is generally subject to VAT when selling to a dealer or a bank, the customer receives only the net, so the price minus the VAT. For gold, the investment purposes, has been in force since early 2000 in all EU countries have been exempted from VAT. As a so-called investment gold are especially coins and bars with certain conditions - such as the fineness concerns - meet. This special provision is the "use of gold as a financial instrument to promote." Silver coins and silver bullion are subject to purchase on the other hand, the current VAT rate. There are exemptions for certain coins, for which the purchaser pays a reduced rate. This will be an annually updated list of the Ministry of Finance determines. Correlation between the dollar and gold price A simpler version, in the performance of precious metals to participate, it offers investors through exchange-traded certificates and Exchange Traded Funds (ETFs). These products represent the performance of the precious metal from 1:1. Precious note, however, usually in dollars. Investors who are in gold or silver to invest, should therefore always be aware that they are next to the precious metal also acquire U.S. dollars. Historically, it is especially when gold is a negative correlation, ie a contrasting development, between the dollar and gold price watch. For German investors, the investment is a long time a zero-sum game: If the gold price rose, the dollar fell to the same extent. Only in the past two to three years seems this relationship is no longer in this form to apply. We go long term, but assuming that the negative correlation between the price of gold and the dollar will continue - and would be exerted währungsgesicherten Investment, a so-called Quanto Certificate with the preference.