A Guide to Selling Gold Bullion in Toronto

December 02, 2019

A Guide to Selling Gold Bullion in Toronto

Are you looking for ways to earn some extra money during the holiday season? Selling your unwanted gold is the best way to do it. But selling your gold in Toronto can be an overwhelming process. You may find yourself with a number of questions and concerns:

  • How much is it actually worth?
  • How can I find out its purity?
  • Who can I trust to buy my gold for a good price in Toronto?

Global Bullion is a trusted Canadian brand that works in partnership with Muzeum to sell and buy gold and silver bullion of all kinds. Whether it’s a gold bullion coin, gold bullion bar, or gold bullion round – we will buy it. For 1oz we generally offer 95% to 96% of the spot price, but this percentage can increase as quantity of the gold bullion or silver bullion being sold increases. If you are looking for somewhere to sell your gold bullion, then you should definitely visit our shop located in the heart of Yorkville in Toronto at 14 Prince Arthur Avenue (in the same building as Muzeum)!

We offer an experience like no other – when you visit our shop you’ll tell the difference right away: we’re not like all those other “cash for gold” shops that are out to take advantage of you. Our on-site experts are friendly, welcoming, and informative – you’ll never be pressured to sell your items even after you receive your FREE evaluation.

So if you’ve ever wondered where to sell bullion then the answer is simple: at Global Bullion! We pride ourselves in our transparency and always eager to share our expertise in the gold industry.

A Guide to Selling Gold Bullion in Toronto

What Does Global Bullion Buy?

First, let’s start by looking at what bullion actually is: bullion refers to investment grade precious metals like gold, silver, and platinum, and is generally weighed by Troy Ounces or in Grams. It comes in a few major forms like coins, rounds, and bars/ingots – something that you might be familiar with and have on your hands!

In Canada, gold must have a purity of 99.5% and silver must have a purity of 99.9% to be considered bullion and be tax exempt. We buy gold bullion from all over the world of all ages, conditions, and from all manufacturers.

When it comes to coins, they are minted by a government entity and have legal tender attributed to them. While the precious metal value should always be higher than the face value of the coin, these pieces do come with a premium cost as they often are made with intricate designs.

The most popular coins that we buy include:

  • Maple Leaf
  • Eagle
  • Libertad
  • Krugerrand
  • Kangaroo
  • Philharmonic
  • Brittania

We will also buy other kinds of gold coins like:

  • Canadian gold coins such as gold centennial coins, gold Olympic coins, and gold Royal Canadian Mint coins
  • American gold coins such as Gold Eagles, Liberty Heads, and all pre-1933 gold coins
  • All antique and ancient gold coins
  • Mexican gold coins
  • Austrian gold coins
  • Australian gold coins
  • …and many more!

In regards to bars, ingots, and rounds, the value is based solely on its precious metal content. These items are not intended for circulation and thus do not have a legal tender attributed to them. Generally, bars, ingots, and rounds, are sold at a lower premium than a coin, and as such, are bought at a lower premium as well. That being said, we guarantee that our bullion payout prices will always be the highest.

We buy a number of popular brands, including:

  • Australian Mint
  • Asahi Mint
  • Credit Suisse
  • Engelhard
  • Heraeus
  • Istanbul Gold Refinery
  • Johnson Matthey
  • Pamp Suisse
  • Perth Mint
  • Republic Metals Corporation
  • Royal Canadian Mint
  • Sunshine Mint
  • Valcambi Mint
  • And All Private Mints!

When you bring your gold to Global Bullion you are guaranteed to be able to sell it. That’s because we have created an extensive network of collectors, so that even if we are unable to buy your item we can find someone who will. This means that you can rest easy knowing you are getting the most money for your gold. Most other places would simple buy your item on the spot at a much lower price than what it’s actually valued!

Royal Canadian Mint

How We Determine Value

There are trained experts on-site at our shop that will be able to tell you all about your gold coins, bullion, or ingots, and let you know how much they are worth. But before visiting our store you might be wondering how we go about our evaluations. There are a number of factors that go into evaluating a gold piece. Let’s take a quick look.

Current Gold Market Value

Gold prices fluctuate on a daily basis due to various economic factors. You can easily view these prices online – even on our website! This is where the value of gold starts, but there are more factors to consider.

Purity

Gold on its own has value, which is why the amount of gold in the item you bring us (or its purity) will help determine the item’s worth. When viewing a gold bullion coin with a marking of 9999 fineness that means it is considered a 99.99% pure gold bullion coin, whereas one with a 999 fineness is considered a 99.90% pure gold bullion coin.

What happens when there are no telling marks? In these situations, there are other ways to determine purity. Experts can typically tell right away if something is made of gold just by holding it in their hand, because authentic gold items will be heavier than counterfeit ones. A strong magnet can also be used: if your item is attracted to the magnet that means it’s not made of gold (precious metals don’t attract to magnets).

Condition

Another factor to consider is the condition. If you are bringing in older coins, ingots, or bullion, they could possibly be damaged or worn out from wear or tear – especially if they weren’t stored properly. If this happens, the value of your items may decrease.

Sell Your Gold at Global Bullion

Based on these above factors, our on-site experts will evaluate your gold items and let you know how much they are worth – the best part is that this evaluation is free, so you have nothing to lose! So if you have any questions or any items you’d like to bring in, feel free to stop by. We’ll be happy to assist you in any way we can.



Also in Blog

Where is the price of gold going?  What about silver?
Where is the price of gold going? What about silver?

October 02, 2020

Read More
Our guide to investing in gold and silver right now
Our guide to investing in gold and silver right now

August 18, 2020

Due to a volatile market and the fluctuating price of gold and silver, investors are advising precious-metals observers to buy gold and silver today as a smart hedge in an investment portfolio.
Read More
How the Coronavirus Pandemic is Influencing the Precious Metals Market
How the Coronavirus Pandemic is Influencing the Precious Metals Market

June 08, 2020

In this post, learn how the economic fallout caused by the pandemic has affected the price of gold and silver.
Read More