Canadian Banks | Forums | Terms of Use

Welcome to the Canadian Financial Forums forums.

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   Canadian Financial Forums > Canadian Financial Forums > General Finance
Reload this Page How to buy physical gold?
Blogs FAQ Members List Calendar Search Today's Posts Mark Forums Read

Reply
Page 1 of 3 1 23
 
Thread Tools Display Modes
  #1  
Old 06-16-2009, 02:19 PM
Steven Steven is offline
Senior Member
  
Join Date: Jul 2008
Posts: 139
Default How to buy physical gold?
Hi,

I have a question for the community here. I've decided to put around 5% of my net worth in gold (gold coins or gold bars), but I'm not sure where to buy it? Can you recommend a reputable company to buy gold from (I'm in Toronto)?

By looking online it looks like the coins are more expensive than gold bars, and I was wondering why the difference? Which is better in your opinion gold coins or gold bars? If gold coins, which gold coins?

Do I have to pay GST and/or PST when buying gold bullion?

Any advice is highly appreciated.


Thanks!
Reply With Quote
  #2  
Old 06-17-2009, 01:57 PM
trent trent is offline
Senior Member
  
Join Date: Jun 2008
Posts: 387
Default
Quote:
Originally Posted by Steven View Post
Hi,

I have a question for the community here. I've decided to put around 5% of my net worth in gold (gold coins or gold bars), but I'm not sure where to buy it? Can you recommend a reputable company to buy gold from (I'm in Toronto)?

By looking online it looks like the coins are more expensive than gold bars, and I was wondering why the difference? Which is better in your opinion gold coins or gold bars? If gold coins, which gold coins?

Do I have to pay GST and/or PST when buying gold bullion?

Any advice is highly appreciated.


Thanks!
I think you can buy gold bullion from any major Canadian bank. There's also http://www.kitco.com, which are based in Quebec, however I cannot recommend them because I've never used them.

Gold coins are more expensive than bullion bars because of the fabrication costs. Which one to buy, depends on your preferences. Gold bullion is cheaper, but if you want to sell you will have to pay assay costs, while with the gold coins (granted they are popular coins) I think you can sell without assay (I'm not sure about this so check). You can buy Krugerrands, Gold Maple Leafs or American Eagle gold coins.

I'm not sure if you have to pay taxes on your gold purchase or not.
__________________
No debt
Reply With Quote
  #3  
Old 06-18-2009, 02:40 PM
Steven Steven is offline
Senior Member
  
Join Date: Jul 2008
Posts: 139
Default
Thanks for the help Trent! Anybody else know if I have to pay taxes if I buy gold bullion or gold coins?
Reply With Quote
  #4  
Old 06-19-2009, 02:21 PM
bullish bullish is offline
Senior Member
  
Join Date: Jul 2008
Posts: 155
Default
What do you need a physical gold for?
Reply With Quote
  #5  
Old 06-22-2009, 01:45 PM
Steven Steven is offline
Senior Member
  
Join Date: Jul 2008
Posts: 139
Default
Quote:
Originally Posted by bullish View Post
What do you need a physical gold for?
Buying physical gold seems like a prudent thing to do in the current uncertain economic environment.
Reply With Quote
  #6  
Old 06-29-2009, 08:12 PM
trent trent is offline
Senior Member
  
Join Date: Jun 2008
Posts: 387
Default
Quote:
Originally Posted by Steven View Post
Buying physical gold seems like a prudent thing to do in the current uncertain economic environment.
It's useless to try to explain, why you want to buy a gold to a brain-washed paper addicted junkie
__________________
No debt
Reply With Quote
  #7  
Old 07-06-2009, 08:55 PM
Jason Jason is offline
Member
  
Join Date: Jul 2008
Posts: 64
Default
I think buying gold now is way too risky. I don't see these prices as sustainable in the long run.
Reply With Quote
  #8  
Old 07-07-2009, 08:22 PM
trent trent is offline
Senior Member
  
Join Date: Jun 2008
Posts: 387
Default
Quote:
Originally Posted by Jason View Post
I think buying gold now is way too risky. I don't see these prices as sustainable in the long run.
What do you think is sustainable then? Printing money maybe ?
__________________
No debt
Reply With Quote
  #9  
Old 08-25-2009, 06:54 PM
victor victor is offline
Junior Member
  
Join Date: Aug 2009
Posts: 2
Default How to buy physical gold
Physical gold and silver is an important part of any portfolio, as a hedge against paper investments and inflation. The US economy is a mess, their debt is out of control and they are printing money like there is no tomorrow.
The gentleman I buy gold and silver from has recently started a new website, [EDIT]NO SELF PROMOTION ALLOWED. PUT URL IN YOUR SIGNATURE[/EDIT] and is auctioning off gold and silver maples. Because it is a new site there are few bids, so there is an opportunity to get a good price. He also does direct sales, if you want to start with smaller amounts. He is based in Canada and is very reliable.
Victor
Reply With Quote
  #10  
Old 09-19-2009, 10:04 PM
Rickson9 Rickson9 is offline
Member
  
Join Date: Sep 2009
Location: Mississauga, Ontario
Posts: 83
Default
Is gold the answer?

http://cosmos.bcst.yahoo.com/up/fop/...rouselEnable=0
Reply With Quote
Reply
Page 1 of 3 1 23

« Previous Thread | Next Thread »
Thread Tools
Display Modes
Linear Mode Linear Mode

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT. The time now is 08:50 PM.

Contact Us - Archive - Top

Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2024, vBulletin Solutions, Inc.