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When I was doing a massive gem-to-gold conversion within about a year of the game coming out, I hit a block where I couldn't buy any more gems. At least, at that time, an automated process was implemented that prevented lots of gems being purchased within a short period of time. But that was within a period of time, not total gems. When I contacted support, they removed the limitation. And we are talking A LOT of gems because I was buying a legendary weapon.

 

I checked the wiki, and it doesn't mention either limits or purchasing suppression: https://wiki.guildwars2.com/wiki/Gem

 

Basically, you can try to keep buying them until you're prevented by the system.

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I'm not sure there is a limit, but I've never had more than a few thousand at once so I can't say from personal experience. Although if you're buying them with real money in the game sooner or later your card provider will start blocking the transactions because too many identical purchases in a row looks like fraud or a computer error. If that happens you'll need to wait or possibly contact the bank to get it sorted out.

But there's no sensible reason to try to hit the limit (if there is one). Just buy gems and then spend them on the things you want to buy, then get more after that. Even if you're converting gold into gems so you want to do it when the price is good then hold onto them until there's something you want you can probably stop once you've got a few thousand gems.

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