The Definitive Guide: Where to Buy Gold and Silver in Canada

April 14th, 2020

The below references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

Just a reminder, SilverGoldPill is not affiliated with any online sites. The sites and methods mentioned below reflect my own experiences. If I missed a reputable site to buy precious metals online in Canada, please let me know.

Buying precious metals in the United States and finding a great price can be as easy as searching what you're interested in on FindBullionPrices.com, but for us Canadians it's just not so easy. Let's take a look at some options for Canadians.

silvergoldbull.ca

silvergoldbull.ca is likely the top advertisement when any Canadian googles "precious metals". They currently offer free shipping on orders of $299.99 down, from the previous $500.00 order requirement. If you've noticed they have an extensive google advertising presence online. This is reflected in the price. Silvergoldbull.ca usually comes with premiums several percent higher than other online competitors, especially for gold. They remain competitive for silver Maple Leaf's.

They used to offer a 10 oz. silvergoldbull bar at spot which was a great price and enticing to new customers. They usually have new designs relatively quickly and have a solid stock. I have ordered from them over a dozen times, and every time, the product was well packaged and delivered on time. My only gripe with them, was I once ordered a 10-ounce Royal Canadian Mint bar, which I thought would be new. The bar already had toning and did not come in the original sealed plastic sleeve but rather a plastic case. For the premiums they charged I expected better.

At the time of this article:

1 oz. 2020 silver Maple Leaf: unavailable
1 oz. random silver Maple Leaf: $31.06 cheapest price of those researched
1 oz. 2020 golf Maple Leaf: unavilable
1 oz. random gold Maple Leaf: $2711.37

torontogoldbullion.com

torontogoldbullion.com is another reputable online precious metal seller option for Canadians. They offer free shipping on orders $500 and above. If you are looking for a particular coin, that is a little bit harder to find or sold out elsewhere there is a chance they may have it. The packaging I've received from torontogoldbullion.com along with their delivery time was stellar. Their prices can fluctuate quite a bit and are not consistent. For example, at the time of this article they are selling a 10 oz RCM bar for $347.08 CAD with a current spot price of $21.30 CAD per ounce. Their 1 oz random year silver Maple Leaf is retailing for 31.37; making it cheaper to buy 10 ounces rather than a bar. Where is the weight discount?

What I do like about torontogoldbullion.com is their variety. Want a 1-gram gold Perth Mint bar? How about a 100 gram gold PAMP Suisse Bar (cast)? They have variety. They are definitely a site to check out if you are looking for something exotic or unique to add to your collection without breaking bank. Oh, and if you live in the Toronto area you can actually swing buy and pick up and order or make one while you are there.

At the time of this article:

1 oz. 2020 silver Maple Leaf: unavailable
1 oz. random silver Maple Leaf: $31.43
1 oz. 2020 golf Maple Leaf: $2801.58
1 oz. random gold Maple Leaf: $2783.54

goldstocklive.com

goldstocklive.com is another site to check for competitive prices and they also stock a nice variety. I am convinced their prices displayed on their site were connected to the price of spot with a premium added. When the spot price of silver crashed during the COVID-19 market dip, their site had ridiculously low-priced silver. However, processes at checkout froze and we not confirmed. They have a nice variety of wildlife series and various gold Maple Leaf's in various sizes. Definitely give them a check before pulling the trigger on an online order. They have several locations that you can stop by and shop at in Ontario and Vancouver. Give them a look.

At the time of this article:

1 oz. 2020 silver Maple Leaf: unavailable
1 oz. random silver Maple Leaf: $31.96
1 oz. 2020 golf Maple Leaf: unavailable
1 oz. random gold Maple Leaf: $2517.88

canadianbullion.ca

canadianbullion.ca is another site that has a unique collection of coins at reasonable prices. However, the staple coins, your bread and butter coins, like silver Maple Leaf's are usually sold out. At the time of this article their 1 oz. Maple Leaf is competitively priced but unfortunately sold out. They do have a decent collection of numismatic and unique silver coins, so definitely add them to your book tab.

There website is a bit buggy and does not work well with mobile. However, their staff is quite friendly so give them a call. They are located in Toronto.

At the time of this article:

1 oz. 2020 silver Maple Leaf: unavailable
1 oz. random silver Maple Leaf: unavailable
1 oz. 2020 golf Maple Leaf: unavailable
1 oz. random gold Maple Leaf: $2510.03 cheapest price for random gold Maple Leaf

canadianpmx.com

canadianpmx.com Another site that has a location you can visit in Richmond Hill, Ontario. Prices are reasonable and they have a wide variety of privy silver Maple Leaf's, along with many different hand poured, and cast hefty bars in the kilogram and 100 oz. size. They have been in the business for quite some time and are a trusted source for precious metals. They also offer free shipping on orders over $500 within Canada which is also fully insured. Give them a look.

At the time of this article:

1 oz. 2020 silver Maple Leaf: unavailable
1 oz. random silver Maple Leaf: unavailable
1 oz. 2020 golf Maple Leaf: unavailable
1 oz. random gold Maple Leaf: unavailable

globalbullionsuppliers.com

globalbullionsuppliers.com is another site that has a physical location in the downtown core of Toronto. I have had good experiences buy Canadian junk silver at fair prices from them in the past, so definitely check them out. At the time of this article (again in the middle of COVID-19), when supplies are at all-time lows, they are practically entirely out of silver; more than any other of the previous sites listed. Do check them out when supplies are replenished or if you are looking for Canadian silver dollars, half dollars, or just junk silver in general.

At the time of this article:

1 oz. 2020 silver Maple Leaf: unavailable
1 oz. random silver Maple Leaf: unavailable
1 oz. 2020 golf Maple Leaf: unavailable
1 oz. random gold Maple Leaf: unavailable

preciousmetals.td.com

preciousmetals.td.com/ Never overlook TD Bank if all you are after is straight up bullion. While they do sell a decent variety of gold and silver, they often have 1-ounce TD and 10-ounce TD bars at a reasonable price. Believe it or not, some of my biggest purchases were through TD Bank. Furthermore, if you hold on to your receipt they will repurchase from you at a rather reasonable price down the road. If you want those sweet silver Maple Leaf's, then expect to pay a hefty premium. They are not competitively priced when it comes to silver Maples. They are definitely a viable option for stackers and collectors alike.

Other banks offer precious metals, like RBC, but they do not list prices on their website, and CIBC also has a precious metal page, but their prices are higher than all the other retailers mentioned along with TD Bank. If you do choose to use a bank to purchase physical precious metals TD Bank is your best bet.

At the time of this article:

1 oz. 2020 silver Maple Leaf: $33.69
1 oz. random silver Maple Leaf: unavailable
1 oz. 2020 golf Maple Leaf: $2641.81 1 oz. random gold Maple Leaf: unavailable

www.kijiji.ca

www.kijiji.ca/ is a great site to not only find bargains but actually sell your precious metals privately. Many of the private sellers on Kijiji are actually local coin shops advertising their listing online for free, so you have to do quite a bit of searching and really know what you are looking for and for what price. It is not a recommended method for novice precious metal buyers. To have success on Kijiji.ca I recommend putting a listing of what you are interested in buying and for what price. I typically leave an ad saying I will pay $2 over spot for silver Maple Leaf's and will get a few bites in a matter of weeks. Be ready to adjust your ad as local coin shops or bigger fish will offer a higher premium than you. Be patient and adjust accordingly. I also advise to mention in your ad that you are a private buyer.

www.ebay.ca

www.ebay.ca is fantastic if you are looking for rare, numismatic, and especially hand poured bars from private or smaller sellers. Good deals can be found but once again be patient. Remember to factor in shipping costs and leave a positive review if the process went smooth. Do not purchase any silver from Hong Kong or China sellers, especially silver Pandas. While eBay will side with you if you do purchase fake silver, it is just an ordeal I would advice against. Fakes are rampant on eBay, so stick to purchasing from reputable sellers.

If you are aware of any other online sellers or ways of acquiring silver in Canada at reasonable prices, let me know here

www.reddit.com/r/Pmsforsale/

www.reddit.com/r/Pmsforsale is quite possibly the absolute best place to buy and sell silver online. However, you have to develop a bit of a relationship with the community and build some trust, along with taking some risk. I have made several purchases through the website and have not had any issues. The subreddit consists of precious metal stackers who need to offload some of their stack and will usually do so at a great price. Another issue with this site is that items priced well can sell in a matter of minutes. I would definitely become a member of the silverbugs community and from there get familiar with buying and selling through reddit. Most sales use PayPal Friends and Family to avoid paying any fees. Check the community out and have fun.

The most important information you can have when purchasing precious metals is doing research and being patient. If you still have questions about purchasing silver, I highly recommend asking in the silverbugs subreddit. Honest people with good advice will gladly help.

Have Fun and Keep Stacking!