ID and Cash Limits for Buying Silver in New Zealand

Since 11 May 2023, businesses in New Zealand may not buy or sell silver, gold, other precious metals and stones, jewellery or watches for NZ$10,000 or more in cash, including related payments that add up to that. Below that, there is no set amount at which a dealer must check your ID when you buy. When you sell to a licensed secondhand dealer or pawnbroker, you must show photo ID and give your name, address, phone number and date of birth.

Facts checked 31 October 2026 · Not financial, legal or tax advice

At a glance

Situation	Rule	Notes
Buying	No fixed ID threshold for jewellery or precious metals.	Dealers in these goods are no longer AML/CFT 'high-value dealers' because they can't take large cash.
Paying cash	Cash of NZ$10,000 or more is banned.	Related payments (e.g. lay-by) count together; cheques and other bearer instruments too.
Selling	Photo ID and personal details to a licensed secondhand dealer.	The dealer keeps the record for three years; police can inspect it.
Reported	Suspicious activity reports at any amount.	Banks report cash deposits and withdrawals of NZ$10,000+.

The rules in detail

The Criminal Activity Intervention Legislation Act 2023 added a ban to the AML/CFT Act 2009: anyone in trade or business must not buy or sell jewellery, watches, gold, silver or other precious metals, precious stones, motor vehicles or boats for cash of NZ$10,000 or more, in one payment or a series of related cash payments. It applies from 11 May 2023, both when a shop sells to you and when it buys from you.
Breaking the ban brings civil and criminal penalties for the business. Pay larger amounts by card or bank transfer.
Because these businesses can't take large cash, they are no longer high-value dealers with AML/CFT customer checks. Businesses still are high-value dealers when they take NZ$10,000+ cash for other listed items such as art or antiques.
Banks file prescribed transaction reports for cash transactions of NZ$10,000 or more, so withdrawing a large amount to pay a dealer is still recorded.

When you sell

Shops buying used goods such as jewellery and watches are licensed secondhand dealers or pawnbrokers. In person you must give your full name, address, phone number and date of birth, show authorised photo ID (passport, NZ or overseas photo driver licence, government photo ID, 18+ card) and sign the record.
The dealer keeps the record for three years and holds the item before reselling it.
Payment of NZ$10,000+ must not be in cash.

Gold and travel

Gold is covered by the same NZ$10,000 cash ban.
Declare cash of NZ$10,000+ when entering or leaving New Zealand.

AML/CFT reforms in 2026 didn't change the cash ban: the AML/CFT Amendment Act took effect on 19 May 2026, the Department of Internal Affairs became the sole AML/CFT supervisor on 1 July 2026, and a new Identity Verification Code of Practice started on the same day. An Omnibus Amendment Bill introduced on 28 August 2026 would allow cash limits for virtual assets and remittances, not precious metals; it wasn't law as of October 2026.

ID and cash limits for silver in other countries: United States · Canada · Mexico · Brazil · United Kingdom · Ireland · Germany · France · Italy · Netherlands · Switzerland · Turkey · UAE · Saudi Arabia · Kuwait · Qatar · Bahrain · Oman · Egypt · South Africa · India · Pakistan · Bangladesh · Nepal · Sri Lanka · China · Hong Kong · Japan · South Korea · Singapore · Malaysia · Thailand · Vietnam · Indonesia · Philippines · Australia · all countries

Silver ID and Cash Limits in New Zealand: FAQ

Can I pay cash for silver in New Zealand?

Yes, up to NZ$9,999.99. A business can't buy or sell silver, other precious metals, jewellery or watches for NZ$10,000 or more in cash, including related payments that add up to that.

Do I need ID to buy silver in New Zealand?

There is no legal amount at which a dealer must identify you, though some ask. Large purchases are paid by card or bank transfer, where your bank has already identified you.

Do I need ID to sell silver jewellery in New Zealand?

Yes, to a licensed secondhand dealer or pawnbroker: photo ID, plus your name, address, phone number and date of birth, and your signature on the dealer's record.

Sources (6)

General information for individuals buying or selling silver, checked October 2026. Rules change and dealers may ask for more than the legal minimum; check with the dealer or the regulator. Not legal advice.