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(Canada) Best way to buy gold?


#1

I would be interested in a Canadian perspecive on this topic. I
purchase most of my gold as 24k “mini-bars” from Imperial
Smelting in Toronto. Has anyone ever shopped around and done some
comparisons? I’m also wondering if it is more worthwhile to
purchase from US companies,( given our wonderful free trade
agreement)

                                                Darryl MacLeod

#2

In Canada the best way to buy gold is from a coin shop, clean
new bars. This is because you don’t pay GST (7%) because it is
currency, same with coins. You should also be paying the spot
(day) price). In the past in the US and in Canada I have been
able to buy gold (usually clean scrap) from coin shops and pay 5%
below spot-because that is all they get from the refiner when
they send it in, so you get a receipt and everything (but have to
pay GST).

On another note I did once meet a US goldsmith who bought
5-8000$ worth a year (costing him about $3,000) from a
crematorium worker. hmmmmm.

And I’ve had a student come in with several artifical hip joints
to use as silversmithing stakes-they had a gray sheen to them and
she confirmed they came from a friend of hers who worked at a
crematorium. hmmmmm again.

Charles

Brain Press
Box 1624, Ste M, Calgary, Alberta, T2P 2L7, Canada
Tel: 403-263-3955 Fax: 403-283-9053 Email: @Charles_Lewton-Brain

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#3
 In Canada the best way to buy gold is from a coin shop, clean
new bars

Thank you for that Charles. I was wondering if you
had a favourite outlet in Halifax when you were there? I believe
that if “mini-bars” are purchased from Imperial , they are also
exempt from gst because they are not the traditional stamped
bars but rather thin, unmarked slabs and strips of 24k gold. As
for the mark-up I haven’t figured that out but I expect they get
a happy cut.

regards…Darryl MacLeod