Gold in Turkey: The 2026 Guide to Buying, Selling & Investing

In Turkey, gold is not merely a shiny precious metal. It is the unofficial currency of the nation. Deeply embedded in the cultural DNA, it stands alongside real estate and foreign currency as one of the primary tools for saving and investing. If you have ever attended a Turkish wedding, you know the drill: gold is the currency of celebration and social security.

The Turkish gold market is massive, ranging from intricate jewelry to traditional coins and pure investment bars. The local appetite for gold is so voracious that it frequently impacts the entire economy and Turkey’s foreign trade indices.

The Culture: Why Turkey Hoards Gold

When I first arrived in Turkey, I quickly realized that gold isn’t just an evening accessory; it represents safety and tradition. The custom of pinning gold coins directly onto the bride or groom at weddings and circumcision ceremonies is particularly fascinating. It’s a practical, highly appreciated form of financial “kickstarting” for a new life chapter.

Economists estimate that Turkish households privately hold between 3,000 and 5,000 tons of gold often affectionately called “under the pillow” (yastık altı) savings. That is worth hundreds of billions of dollars. This figure highlights the immense trust Turks place in this precious metal, often prioritizing it over savings accounts.

You will encounter gold in four main purity levels here:

• 24 Karat (99.5% – 99.9%): The “Gold Standard” for serious investment in bars and electronic trading at banks.
• 22 Karat (91.6%): The absolute favorite for traditional jewelry (like the famous “Bilezik” bangles) and most coins. It has that characteristic, rich yellow shine.
• 18 and 14 Karat: Mostly used for modern, Western style jewelry with gemstones, as it is harder and more durable.

If you are looking to dive deeper into the aesthetic side of things, check out our guide to top Turkish brands (Note: While this links to paint, the principle of quality manufacturing in Turkey remains consistent across industries).

Gold Production in Turkey

Turkey is not just a consumer; it is a significant producer. According to the General Directorate of Mineral Research and Exploration (MTA), modern gold production began in 2001 at the Ovacık mine in Bergama. From a modest 1.4 tons per year, production has surged thanks to new mines and technology.

In recent years, production has stabilized at over 30 to 35 tons annually, with a record high of around 42 tons in 2020. The geological potential is estimated to be as high as 100 tons per year. It is impressive to see the country leveraging its own resources to reduce the hefty import bill for gold.

Turkish Gold Coins: The Ultimate Guide

For expats, the Turkish gold coin system can be baffling. The star of the show here is the 22-karat coin. To navigate the market like a local, you need to understand the two main categories:

• Ziynet Altın (Jewelry Gold): These coins are thinner, wider, and typically used as gifts for pinning on clothing.
• Cumhuriyet Altını (Republic Gold / Ata Gold): These are thicker, more solid, and look like classic currency coins. Investors prefer them because they are easier to store and carry lower processing costs.

This tradition is tightly linked to getting married in Turkey, as weddings are the primary driver for Ziynet coin sales.

1. Ziynet Altın (The “Gift Gold”)

Decorative Ziynet coins feature a portrait of Atatürk and ornate designs. They are the standard currency at weddings. Almost all Ziynet coins you buy at a jeweler come with a small eyelet or handle attached, allowing them to be pinned to fabric with a safety pin.

Quarter Gold (Çeyrek Altın)

The Quarter Gold, affectionately known as “Küçük Altın” (Small Gold), is the absolute classic. It is the go-to gift for close friends and relatives.

• Weight: approx. 1.75 grams
• Purity: 22 Karat
• Diameter: 18 mm

Half Gold (Yarım Altın)

The Half Gold is exactly what it sounds like: two Quarters. It is a prestigious gift for closer family members.

• Weight: approx. 3.50 grams
• Purity: 22 Karat
• Diameter: 22 mm

Full Gold (Tam Altın / Ziynet Lira)

The Ziynet Lira is a heavy, valuable piece. It is often gifted by grandparents to grandchildren or by parents to the bridal couple.

• Weight: approx. 7.01 grams
• Purity: 22 Karat

Gremse (2.5 Gold)

The Gremse is equivalent to 2.5 Full Gold coins or 10 Quarters. Weighing around 17.54 grams, it is rarely seen at casual events and serves mostly as a pure investment or a very exclusive gift.

2. Cumhuriyet Altını (The “Investor Gold”)

Republic Gold Coins (often called Ata Altın) differ slightly in weight and appearance from Ziynet coins. They lack eyelets and ornate borders, looking more like standard currency. One side features “Türkiye Cumhuriyeti” (Republic of Turkey) and the founding year 1923, while the other bears the motto “Hakimiyet Milletindir” (Sovereignty belongs to the Nation).

Here is the critical difference for investors: Republic Gold is heavier than the corresponding Ziynet Gold.

Historical Highlight: The Ottoman “Reşat Gold”

A special favorite among Turks is the Reşat Altın. These are historical coins (or restrikes) from the era of Sultan Mehmed V Reşad. Weighing 7.2 grams (22 Karat), they are almost identical to modern Republic Gold but trade at a premium due to their historical aesthetic and rarity. They are the ultimate status symbol at traditional weddings.

Turkey’s Gold Reserves

The Central Bank of the Republic of Turkey (TCMB) is one of the world’s largest gold buyers. Recent data (as of 2024/2025) shows official gold reserves hovering above 600 tons. This strategic stockpile helps stabilize the Turkish Lira and underscores the importance of gold for national sovereignty. This safeguarding strategy is mirrored by investors watching domestic producer prices to gauge inflation trends.

Key Gold Refineries in Turkey

When buying gold bars (Gram Gold) in Turkey, you will often encounter logos of the following LBMA certified refineries, which guarantee top-tier quality:

Istanbul Gold Refinery (IAR)

The Istanbul Gold Refinery is arguably the most famous brand for retail investors. Their “Gram Gold” bars (Gram Altın), packaged in credit card-sized blisters, are extremely popular and liquid. The “IAR” logo is a seal of trust.

Nadir Metal Rafineri

Nadir Metal is another giant in the market. They produce not only gold but also silver, platinum, and palladium. You can find their certified gold bars (Nadir Gold) at almost every jeweler and many banks.

Ahlatcı Metal / Harem Altın

Companies like Ahlatcı and Harem Altın are also ubiquitous, especially in wholesale and among jewelers across Anatolia. Harem Altın is famous for its widely used live price apps and screens displayed in jewelry shop windows.

How and Where to Buy Gold in Turkey

Buying gold in Turkey is as easy as buying bread. Here are your options:

1. The Jeweler (Kuyumcu)

This is the most traditional route. There is a “Kuyumcu” on almost every street. You simply walk in, ask for the price of a “Çeyrek” or “Gram Altın,” and pay in cash or (sometimes for a fee) by card. The price is based on the international spot price plus a small margin for minting and the dealer.

2. Banks

Almost all Turkish banks (Ziraat, Garanti, Kuveyt Türk, etc.) offer Gold Accounts. You can buy gold electronically (XAU/TRY) and hold it in your account. Some banks, like Kuveyt Türk, even offer the option to convert this electronic gold into physical bars at specific ATMs or branches.

3. Online Marketplaces

Platforms like Trendyol or Hepsiburada also sell certified gold, which is shipped to you via insured post. However, pay close attention to seller ratings here (it is best to buy directly from IAR or Nadir’s official stores on these platforms).

Selling Gold in Turkey

Got gold to sell? Just head to the nearest Kuyumcu. The dealer will examine the coins and pay you the current buy back price. The “spread” (the difference between the buying and selling price) for standard coins like the Çeyrek Altın is surprisingly low in Turkey—typically around 1.5% on average as of early 2026—making trading very attractive.

If you need to move large sums to buy gold or send money abroad after selling, it pays to check the investment regulations and transfer fees beforehand.

Special Case: Syrian Gold (21 Karat)

An interesting niche market in Turkey, especially in cities with large Syrian populations, is so-called Syrian Gold. Unlike the Turkish standard (22 Karat), Syrian gold is typically 21 Karat.

It has a slightly more reddish hue than the intense yellow of Turkish gold and ispurely based on weightslightly cheaper because the gold content is marginally lower. If you want to buy or sell this type of gold, you should specifically look for jewelers specializing in Arab gold jewelry, as “regular” Turkish jewelers often only buy it at scrap melt value.