Friday, June 14th 03:52 PM IST

France bans shipment of Gold, Silver and cash through the mail system

# France Gold  # Gold  # Silver  # Coins  # Bullion  

In new legislation which was enacted May 23rd, the French government decreed that it is forbidden to send all forms of currency - coins and cash and all forms of precious metals - coins, bars and jewellery by mail.

PARIS(BullionStreet): France has taken capital controls to a new level, banning the shipment of physical gold, silver, and cash through the mail, effectively shutting down the precious metals trade in France!

France has prohibited the sending of currency, “coins and precious metals” by mail.

In new legislation which was enacted May 23rd, the French government decreed that it is forbidden to send all forms of currency - coins and cash and all forms of precious metals - coins, bars and jewellery by mail.

The legislation was published on Legifrance, the French government entity responsible for publishing legal texts online.

It was not announced by the government and not covered in the media. There were no communications and nobody in the government justified or explained this decision.

The legislation says that “the insertion of banknotes, coins and precious metals is prohibited in mailings, including the insured items, registered items and items subject to formalities certifying deposition and distribution.”

Some have suggested that the decree is to limit what is known in France as “the anonymous market”, the market in which no taxes are paid and people are free to trade without the supervision of banks and government.

However, euro coins, notes, gold bullion coins and bars attract no tax in France and therefore this is more likely to be an attempt to discourage the ownership of gold bullion and cash outside of the banking system and is a form of capital control.

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