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Email this7:06 am
November 8, 2018
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Apologies if this were discussed already or is common knowledge: what is the best way to legally and safely sell gold coin(s) in Canada?
Over the course of many years I've collected small number of gold coins. Not enough to make me rich, but enough to wonder how to convert them to cash.
I am not a gold investor. I bought gold coins for few family related occasions, or because I did like coin design. I bought them mostly from Canadian Mint. One or two from either TD or Scotiabank, don't remember exactly which.
Buying gold coins was easy, but once I decided to find how to sell them at their market price by gold's weight, that is where I got stuck.
Ideally, I would love to sell them to a Canadian bank, or well known Canadian financial institution. If Canada has reputable gold selling and buying business with many years of positive reviews and presence in Ontario, that could do, too.
I am not looking for a top return on my "not investment." A fair price linked to current market value of gold minus reasonable business markup for providing me with the service of buying my gold can do.
What are my options?
8:29 am
December 7, 2011
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Additionally to banks, any coin dealer will buy it from you.
Some jewellery store also will buy it.
If you're in Toronto area, I will buy up to 50 oz too and will pay a bit more, than banks and dealers.
8:38 am
October 17, 2018
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If not in GTA(near Winnie) then here's an option
https://sell.silvergoldbull.ca/
9:18 am
April 6, 2013
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According to TD Precious Metals: Support, TD Canada Trust customers can sell their precious metals at any branch:
Can I sell precious metals to TD?
Yes, TD Canada Trust customers can sell their precious metals at any TD branch. Our competitive pricing is based on live market rates for gold and silver. TD reserves the right to assess the precious metal product(s) and to determine whether they are fit to buy back, at its sole discretion.
10:03 pm
July 10, 2011
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I'll take some gold pieces..
11:46 pm
February 27, 2018
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There have been horror stories about people selling gold to "coin/jewellery" buyers. The "i buy your gold" guys pay pennies on the dollar.
As of right now, Thursday Aug 13 at 2:45 am the price for gold is $1,933 usa converted to Canadian, $2,558 per ounce.
Winnie to suggest a coin dealer or jewellery store??? People sell to these places out of desperation or they have the need to unload something they just stole.
Yatti, i will be curious to hear. How much you had to pay someone to take your gold coins off your hands.
12:17 am
February 17, 2013
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i sold mine to pawn shops. Just ask for the price they are paying. Some were way low, the one I used paid close to going rate.
7:00 am
July 10, 2011
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I've been selling silver recently.. alot of people got good deals considering the last two months..
7:03 am
August 10, 2018
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I am in the market. Where are you located?
7:05 am
August 10, 2018
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email me shugalo@hotmail.com
7:26 am
December 7, 2011
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Kidd said
Winnie to suggest a coin dealer or jewellery store??? People sell to these places out of desperation or they have the need to unload something they just stole.Yatti, i will be curious to hear. How much you had to pay someone to take your gold coins off your hands.
Banks, coin dealers and some jewellery stores will pay approximately the same price, fair market price.
Desperation? Stolen gold? Ha-ha.
No, it's simple matter of convenience.
When my neighborhood jewellery store is located on my street, why not to sell to them, if they will pay the same price?
You must understand, that selling and buying prices are always different at the same moment of time.
And jewellery store anyways need to buy gold, they don't do mining operations.
10:17 am
June 10, 2020
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By coincidence, I asked TD about this yesterday and got an email reply just this morning. Here's what they emailed me:
Thank you for your email. TD Canada Trust customers can sell their precious metals at any TD branch. To sell your items you would need to call a TD branch that is most convenient for you and schedule an appointment to sell your items. The branch will assess the items to determine if the items are fit to be sold back and will provide a quote. The transaction would be done directly through your TD bank account, where you will receive the funds after you agree to a price.
4:41 pm
October 21, 2013
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Does anyone know how to separate a gold crown from an extracted tooth? I inherited one, and it's still sitting there in a baggie awaiting my attention. Seems heavy, to me. This particular one was applied in the 1930s, so whatever kind of glue they used then would be relevant.
Dentgal?
4:52 pm
August 9, 2014
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An added reason to not hold gold (or precious metal) in physical format is that when the gold market have high volatility (now for example), the buyer of gold may require significant discount from spot price in order to protect themselves.
5:02 pm
October 17, 2018
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Loonie said
Does anyone know how to separate a gold crown from an extracted tooth? I inherited one, and it's still sitting there in a baggie awaiting my attention. Seems heavy, to me. This particular one was applied in the 1930s, so whatever kind of glue they used then would be relevant.Dentgal?
Here's a video how to
7:06 am
August 10, 2018
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Jon said
An added reason to not hold gold (or precious metal) in physical format is that when the gold market have high volatility (now for example), the buyer of gold may require significant discount from spot price in order to protect themselves.
And a better reason to convert all your FIAT currency to gold, and keeping it close.
Jay Powell's printing press going BBRRRRRRR
7:52 am
December 7, 2011
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Jon said
An added reason to not hold gold (or precious metal) in physical format is that when the gold market have high volatility (now for example), the buyer of gold may require significant discount from spot price in order to protect themselves.
This is your opinion only and absolutely does not mean, that it reflect actual reality.
I, for example, do not make comments/opinions about stocks, bonds, mutual funds simple because I don't know anything about them.
But, I'm dealing with physical gold for over 40 years and probably know thing or two.
Just try to buy gold first and surprisingly you may discover, that it's not so easy at the first place and price will quite high from spot. After that please share your actual experience here.
11:38 am
August 9, 2014
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Winnie, what I mean is you, the owner and seller of gold, will have to accept a lower price compare with spot when you try to sell the gold in a volatile market. Which is exactly what you are talking about.
1:08 pm
December 7, 2011
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Jon, I will try to provide here real data, but first, to avoid any misunderstanding, please confirm your statement.
You said: the owner and seller of gold, will have to accept a lower price compare with spot when you try to sell the gold in a volatile market.
How about in a non-volatile market?
1. Do you mean, that the owner and seller of gold, will have to accept a higher price compare with spot when you try to sell the gold in a non-volatile market?
2. Or, do you mean that the owner and seller of gold, will have to accept exactly spot price when you try to sell the gold in a non-volatile market?
One or both of those answers regarding non-volatile market must be true.
Please confirm which one is true in your opinion and I will answer. Thanks.
4:56 am
August 10, 2018
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Jon said
Winnie, what I mean is you, the owner and seller of gold, will have to accept a lower price compare with spot when you try to sell the gold in a volatile market. Which is exactly what you are talking about.
The bid price is always lower than spot, no matter the market volatility.
Please write your comments in the forum.