Whether you’re looking for a long-term way to preserve wealth, a safe haven against future economic crises, or a tangible asset that you can control directly, bullion makes a great investment option. It checks off boxes few other assets can and serves an irreplaceable role as a defensive option in an uncertain market.
There are many Toronto bullion dealers where you can buy gold and silver locally. These are the questions you need to ask your bullion dealer to make an informed purchase and make sure that precious metals are working for you.
First, you need to make sure that you’re getting the right product. Bullion is high-purity gold and silver purchased in the form of bars or coins. Unlike jewellery, buyers aren’t concerned about design or brand, just bullion value. The most important question is this: how many ounces of gold or silver is the product?
In Canada, gold bullion is considered an investment vehicle and is not subject to sales tax. This is not the case everywhere, and it gives Canadian gold buyers an edge compared to their international counterparts.
Not only do sales taxes not apply, but you can also include gold and silver in your RRSP, even when you buy it in the form of physical bullion. Silver can also be included, but not platinum, and you must buy high-purity, recognized bullion products. Historical silver coins, for example, also cannot be included.
When you buy gold as part of your RRSP, you gain all the usual tax advantages of making contributions to your retirement savings, and if you hold onto it until you retire, you can sell it while you’re in a much lower tax bracket, meaning you get to keep more of your capital gains.
Where can you buy gold? Local bullion dealers offer the lowest premiums and the widest selection of coins and bars. You can learn how to buy gold in Canada from banks, too, but you’re likely to find that the same products come at a higher premium.
With so many products available, it’s hard to know which one matches your goals. It all depends on how you plan on investing in gold and how long you intend to wait before selling.
Many investors start by buying silver, as it’s a much more affordable and accessible metal. Silver offers many of the same benefits as its more expensive counterpart, and their prices often move together. It’s easier to save money on premiums because, as a rule, the more ounces you buy at once, the more you can save.
You also have the choice between coins and bars. Coins are costlier to produce, so the premiums you pay on them are higher. However, coins from the world’s major mints are widely trusted and easy to authenticate. However, you won’t have any problems selling gold bars from major refiners like Valcambi and PAMP Suisse either, and the premiums will be lower.
1 oz is the standard size for coins and bars, but you can also acquire different sizes, such as 1 gram gold, 1/10 oz gold coins, up to 1 kg gold bars. What you should buy depends on your plan. Do you want to hold onto your position for decades, potentially even leaving it as an inheritance? A single large bar will reduce your costs. If you have a shorter outlook, smaller units will let you trade on price gains without giving up your whole position.
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You want to know where your coins and bars come from before you buy them. There are two primary ways bullion dealers source their products.
Individual consumers can’t buy gold from mints directly. Sovereign mints and private refiners work with distributors who are able to sell and buy back their bullion products. This is how you can get your hands on newly issues coins and bars.
We don’t just sell; we’re also gold buyers in Toronto who make it easy for you to trade in your coins and bars when you’re ready to sell. Liquidity is an important factor in any investment asset. Global Bullion Suppliers make it very easy to sell whenever you want to.
You’re always told when the product you’re buying has been pre-owned. These products can be more affordable than new releases from the mint, but if you’re only interested in precious metals as an investment vehicle, you’re still buying .999 fine gold or silver.
Your privacy is important. One of the first rules of storing metals at home is that you should be discreet about it. Keep it in a safe and don’t tell too many people about it, or you may risk making your home a target for theft.
When you buy gold online, it should be sent in discreet packaging so that no one, not even the person delivering the package, knows that you’re buying and storing bullion in your home. It’s a simple safety precaution that every investor should take.
Finally, you should ask your bullion dealer if they also buy gold. Dealers often offer the best prices for bullion because they can easily resell it.
If you’re ready to cash in your gold, sell to us for a better return. It doesn’t matter what the gold price in Canada is when you want to sell. We generally pay 95% to 96% of spot for 1 oz of gold. We also buy silver. You can evaluate your bullion in-store or by mail evaluation.
There’s always a ready market for gold and silver bullion, and that’s what makes it work well as an investment vehicle. You can be sure that there will interest in bullion. We even offer free evaluations on items that are not pure, such as 22k gold coins, gold jewellery and sterling silver tea settings.
If you’re still learning about investing in gold and silver, this guide to Canadian bullion will help you decide between gold coins vs gold bars, silver coins vs silver bars, and more.