How to sell physical gold in Canada?

There are a lot of offers when it comes to buying gold, but as we all know, there is a limit to how much one can store. This article will take gold bars as an example, and we will go through the process of buying and selling gold bars

Gold Bars

Gold bars—gold  bullion—are a popular choice for people looking to buy gold. Bullion is typically sold by the gram or ounce, and the purity, manufacturer, and weight should be stamped on the face of the bar.

When it comes to buying and selling gold, purity is very important. Investment-quality gold bars must be at least 99.5% pure to be considered bullion, and if they are, they are exempt from all applicable taxes. 

Where to buy and sell gold in Canada? You can buy gold directly from the banks such as the Scotiabank, RBC, TD, CIBand BMO, and you can do so in person and online. There is a limit though to how much you can buy within 24 hours, which is around $10,000 with exception of the TD bank, where the purchase limit is $2,999.99. 

The best way to buy gold is online or in-person from a dealer that you trust. The same principle applies with regards to taxes. The advantage of buying from your local or reputable gold dealer is that you can always sell your gold back. Gold dealers can offer more personalized customer service, have a broader variety of bullion coins and bars, including rare pieces and collectors bullion coins and bars. At Instant Gold Bullion, we are DNA dealers by the Royal Canadian Mint. We accommodate our clients needs and have a great variety of coin and bullion bars in all precious metals.  Contact us to sell your gold with us!

What's your reaction?