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Winnie , you said you paid 370/oz back then so now it's over 1900. I think you would have to pay tax on half the gains. 1900 - 370 = 1530/2 =765 . So you would be paying income tax at your tax rate on 765 for every ounce you claim capital gains on. So if you dispose of and claim gains on 100 oz you would be paying 30 to 40% of 76500.00. I may be wrong on this and full gains may be taxable which would be 1530. I'm sure someone will know for sure.
One problem you could face is providing evidence of your purchase price because if you paid cash for it back then and have no proof of purchase , they may say you bought it for less and so may calculate higher capital gains amount.
Bill , half gold maples are under a grand I think .

Winnie, if you sell a gold coin for $990 you will have no capital gain to report (under $1000). And capital gains only arise on dispositions, so new buyer has no capital gain at this time.

Whether or not the new buyer ever has to pay capital gains tax will depend on her selling price at that time. Nothing to do with you.

Capital gains taxes relate to your income tax return, has zero to do with whether or not GST/HST (sales tax) applies to these transactions and that was discussed in earlier posts here.

Bill said
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Norman1, you say that capital property that is an investment isn't LPP. That changes things from what I thought, can you provide me with the reference/definition that says that?

The best I found so far is the Tax Court of Canada case Donato v. The Queen, 2009 TCC 590.

LPP needs to be personal-use property. Judge ruled that personal-use property needs to be primarily for personal use.

The properties, the cartoon drawings, were found to be primarily for commercial use. Consequently, they were not personal-use property, as defined by the Income Tax Act. As a result, the drawings could not be LPP, even though they are included in "(a) print, etching, drawing, painting, sculpture, or other similar work of art," of the definition of LPP:

[40] The appellant submits that the donated property was personal-use property, that each property had a fair market value less than $1,000, and that the donated property was not a set. As such, it is submitted that no capital gain was realized when the property was donated by the appellant to Brock University.

[41] In determining whether the cartoons are personal-use property, the relevant inquiry is whether the cartoons were used primarily for the personal use or enjoyment of the appellant or his spouse.

[42] The conclusion that I have reached is that the property donated to Brock University in 2001 was not personal-use property of the appellant.

[43] The creation of the cartoons by the appellant was for the purpose of fulfilling his contractual commitment to Sun Media to provide a daily cartoon for use in its newspaper. This purpose is commercial rather than personal.

[44] Over the years, a few of the cartoons were subsequently used for personal purposes. These uses included: gifts to relatives or friends, the display of a few cartoons in the home, a single use by the Donatos in a trivia type game with friends in their home, and trading cartoons with other cartoonists for their work. There was very little, if any, evidence linking these uses to cartoons that were donated in 2001, and in any event the personal use was quite minor.

The case is relevant. One needs to examine the purpose the item was primarily acquired or created for. If the item was not primarily acquired for personal use, then it is not personal-use property.

Personal ownership does not mean personal use. I personally own some of the shares in my portfolio and hold certificates in my name certifying ownership of those shares. But, the shares and their certificates are not personal-use property.

I didn't find a direct statement in the CRA documents. A quick search found mention of personal use and other-than-personal use in the Income Tax Act.

I also found distinctions made in the T5008 Guide between precious metals in coin form and precious metal in the form of "numismatic coins". A T5008 slip is issued when the former is sold to the dealer but not when the latter is:

The following persons have to file a T5008 information return:
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• every person in the business of buying and selling precious metals in the form of certificates, bullion, or coins who makes a payment to another person for a sale of precious metals by that other person

You do not need to file a T5008 information return for:
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• a sale of currencies or precious metals in the form of jewellery, works of art, or numismatic coins

CRA seems to make a distinction between different gold coins.

I agree that to be LPP it has to be acquired primarily for personal use, e.g. a numismatic coin bought as a memento. And given that Winnie has to file T5008 it appears Winnie is a dealer or trader or in the business of precious metals buying and selling. If so, are we even talking about capital gains in her case?

Bill said
... And given that Winnie has to file T5008 it appears Winnie is a dealer or trader or in the business of precious metals buying and selling. If so, are we even talking about capital gains in her case?  

Bill, I'm not a dealer, I'm not running any business at all.

I'm just regular plain investor. I simple invested my money into gold, that is it. I purchased gold legally, storing it on my property and a bit outside of my property.

And, that is important, so far I never sold any of my gold for profit, I'm only collecting gold (investing). In 1993 I sold a few ounces, but it was below the price, that I paid.

As far I understand, when I will finally sell some or all of my gold, I will need to pay capital gains tax, correct?

The only thing I would like to know, if I will be obligated to pay capital gains taxes, when, for example, I will sell it now for approx. $1900 and my purchase price for this gold was around $600 for part of it and about $1800 for another part.

Bill, Norman1, can you confirm, that I will need to pay capital gains tax after sale?
Thank you very much for your help!

Winnie, it seems you bought your gold bars and coins primarily to hold as an investment and none of the coins for personal use and enjoyment as might a coin collector. If that's the case then when you sell, either in coin form or otherwise, you will incur a capital gain, e.g. if you sell for $1900 gold that you bought for $600 then your capital gain is $1300, so $650 is added to your income that year unless Trudeau or someone else has raised the 50% taxable capital gains rate by then.

If on the other hand you sell a coin that you bought primarily for personal use and enjoyment then the $1000 rule can be used for that listed personal property coin, i.e. in the example above your capital gain would be ($1900 - $1000) $900, $450 added to your income that year.

That's my amateur understanding, I stand to be corrected.

I'm still puzzled by your comment in post #69 above about needing to file a T5008 return, I don't see that you do based on what you've said.

Thank you very much Norman1 and Bill!

That was exactly my understanding regarding the capital gain/loss rules.
Perfect, I'm doing everything right so far - purchased gold to hold as an investment and when I will sell it, I will report 50% of the net capital gain (I assume, that I will have gain, no loss at that time) and that gain will be added to my income for that year.

Still, one thing is a bit confusing for me. Regarding how to distinguish between coins to hold as an investment and coins for personal use and enjoyment (a coin collector).
I do keep a few om my gold 1 oz Maple Leafs on my working table all the time every day and consider them as my "playing" coins for my everyday enjoyment.

For those few coins the $1000 rule can be used (listed personal property coins), I think, but not sure.

It would depend on the circumstances.

Kitco currently offers those 1 oz Canadian Gold Maple Leaf coins for US$1,513.70. The 1 oz Gold Royal Canadian Mint Bar is $1,508.70. Gold is US$1,476.70 per oz.

Both are less than 3% above the bullion content. That doesn't look like a collectible coin to me. That looks more like bullion in coin form.

Were those gold coins bought primarily to decorate the desk? That's the question that would need to be answered.

CRA would argue that it is more likely the coins were bought primarily for investment. Subsequently, some of the coins were taken aside for some personal use. But, the coins were primarily bought for investment use and are therefore not personal-use property.

That's what happened in the Donato case. Judge found that the cartoon drawings were primarily created for commercial/business use and not personal use or enjoyment. Some subsequent personal use of them did not make them personal use property.