Some banks sell gold to their customers, but many don't. Canada's top 5 banks, TD Canada Trust, CIBC, BMO, RBC and Scotiabank, sell gold and other precious metals, 4 days ago Buy gold, silver and platinum bars, coins and physical bars online through TD Precious Metals Digital Store. Plus, get convenient delivery to your doorstep or local TD branch. For investors who want to go local, there are usually three options.
The first is to find a local ingot dealer. This is a safe and cost-effective method to buy precious metals. The second is to find a local jeweler who carries ingots. This is what many people do naturally and frankly what many more do because there is no local ingot dealer.
Finally, some investors are going to buy physical ingots in the bank. In general, this offers greater psychological comfort, at the cost of a very high premium on the spot price of the metal. The first is to find a local ingot dealer, which may or may not be easy, depending on your location and proximity to a major city. Bullion Dealers Offer a Safe and Cost-Effective Method to Purchase Precious Metals.
The second local option is to buy physical ingots at the bank. You may have always assumed that your bank only worked with dollars and cents, but many banks also offer bullion services. You might ask, does TD Bank sell gold? Does Scotiabank sell gold? yes, you can buy and sell coins and gold bars in the bank, including TD Bank and Scotiabank. TD Precious Metals and Scotiabank Precious Metals offer convenient access to gold, silver and platinum.
Scotiabank is actually one of the largest traders of precious metals in the world, and its history goes back more than three centuries. They trade Scotiabank bars, coins and bar products for personal investment or souvenir purposes and advertise that precious metals can be ordered through their local branch. Please note that this is not an official statement. Customers should refer to the official end-of-month or end-of-quarter statements for official account information, which is provided by each specific BMO business unit with which they have an account.
RBC Capital Markets has a rich history in the metals industry. We offer a comprehensive suite of precious metal services, including investment options and gold and silver certificates. We provide OTC derivative capabilities and funding structures in both base metals and precious metals. The most important thing is that only a few of us are willing to pay 2-3 times more than a premium just to buy at a bank branch.
Another point to keep in mind when using a local bank is that you could be working with someone who doesn't specialize in the field. While there are many banks in Canada that allow you to buy gold, and almost all of them offer a storage solution, most branches rarely store precious metals for retail sale. However, is that convenience worth 2-3 times the normal price of gold? Is paying an exorbitant amount for a gold coin or a gold bar on par with your investment strategy? Pinto Gold has been in business for more than 30 years, and that hasn't happened by chance. One thing to keep in mind when thinking about buying gold in a bank is the lack of advice from the people who sell you gold.
While some banks allow you to buy gold coins up to 1 ounce, others can only invest in large gold bars up to 400 ounces. When you want to buy and sell gold, you need to go to a business that specializes in gold, and that is Pinto Gold and Jewellery Buyers. In addition, your gold will be subject to immediate disclosure if the tax authority so requests by the bank, or even requires it. Pinto, one of the most trusted gold buyers in the Toronto area, offers genuine gold valued by highly trained professionals.
However, keep in mind that you will need to resell your contracts before they expire; otherwise, you will be required to buy physical gold. If you are interested in investing in gold, you can also invest in gold stocks through a Canadian online brokerage agency. Those who do not want to invest in US dollars, due to currency risk, can opt for the Canadian iShares Gold Bullion ETF (with CAD coverage), whose returns are only linked to the price of gold and are not affected by the fluctuation of the loonie against the US dollar. Google Maps, which is a great tool to help you find all the gold traders in the region, can be a great tool to help you buy from banks.
So, learning how to buy gold in Canada from banks is really about how to get it at your branch with as little hassle as possible. . .