1. Where Did the "Gold Confiscation" Rumor Originate?

Much of this panic stems from a misunderstanding of Decree No. 340/2025/ND-CP, which regulates administrative penalties in the monetary and banking sectors (effective February 9, 2026). This Decree stipulates heavy fines ranging from 300 to 400 million VND, along with the supplementary penalty of confiscating all infringing gold and potentially suspending business operations.

However, these strict sanctions target businesses and organizations engaged in the unauthorized production, trade, or import/export of gold bars and raw gold without a valid license from the State Bank of Vietnam (SBV).

In simple terms: The law prohibits "underground gold trading" by unlicensed entities; it does not penalize or regulate individuals who own, buy, or sell gold for personal savings, hoarding, or dowries.

2. Will Uninvoiced Heirloom Gold Be Confiscated Upon Sale?

In reality, the majority of gold held by the public is accumulated over many years. Losing or misplacing old paper invoices is extremely common. The law does not require you to present an invoice from years ago to prove the origin of your gold when selling it. The rumor that "uninvoiced gold will be confiscated" is misinformation. Such claims often lead vulnerable individuals into the trap of panic-selling their assets at undervalued prices.

3. A Practical Example: SJC Gold Bar Transactions

To illustrate, consider a typical scenario involving gold bars:

Mr. A owns 5 taels of SJC gold bars purchased in 2005. He lost the original paperwork during a house move. Today, he wants to sell this gold to fund a business venture.

- The Risky Scenario (Potential Loss & Legal Breach): Panicked by rumors and fearing questioning at major outlets, Mr. A seeks "hand-to-hand" buyers online or takes it to a small, unlicensed jewelry shop. By doing this, Mr. A faces high risks of price gouging or fraud and inadvertently participates in illegal gold trading.

- The Legal Scenario (Safe & Protected): Mr. A brings his Citizen ID (or Passport) and the 5 taels of SJC gold to a commercial bank or a reputable jewelry firm licensed by the State Bank to trade gold bars. The staff will verify the authenticity, purity, and weight of the gold and buy it at the prevailing market rate.

- The Crucial Point: Once the transaction is complete, the buyer will issue an electronic invoice (e-invoice) for this specific sale. This e-invoice serves as the current legal basis for the transfer of ownership. No one will force Mr. A to produce an invoice from 20 years ago.

4. Legal Recommendations for Buying and Selling Gold

While old gold without invoices can be traded normally, you should follow these two principles to ensure absolute security:

- "Trust the Certified": Only conduct transactions with organizations and enterprises licensed by the State Bank. Avoid "hand-to-hand" deals in social media groups. When buying new gold, always demand a full invoice to guarantee quality.

- Electronic Payments: This is a regulation many overlook. According to Decree 340/2025/ND-CP, failing to conduct gold transactions via bank transfer (as prescribed) can result in fines of 10 to 20 million VND for repeat or multiple violations. Cultivate the habit of bank transfers to ensure transparency and legal compliance.

Conclusion: Stay informed through official channels and comply with legal regulations to protect your hard-earned assets.