How to Buy Gold and Silver in Canada | CanAm Currency Exchange
gold bars next to silver coins

How to Buy Physical Gold and Silver in Canada

Are you looking for a reliable investment that can protect your money from inflation and economic uncertainty? Look no further than physical gold and silver. These precious metals have been used as a store of value for centuries and are still popular among investors today.

In this blog post, we’ll discuss why buying physical silver and gold bullion coins is a good investment idea, considerations people should make when they are looking to buy gold and silver, the different ways to buy silver and gold in Canada, and the unique benefits of buying precious metals with a registered dealer. 

Why Precious Metals Are Good Investments

Gold and silver have long been used as currency and a store of value. They are rare and they do not deteriorate over time, making them ideal as a long-term investment. Buying gold and silver can also be a great way of diversifying your investment portfolio. These metals act as a hedge against inflation and economic uncertainty, as their values tend to rise when other investments decline.

In terms of historical performance, gold and silver have a track record of outperforming other asset classes during times of economic uncertainty. For example, during the 2008 financial crisis, gold and silver prices surged as investors sought safe havens for their money.

What to Consider Before Buying Gold and Silver

Before you invest in physical gold and silver, there are some important considerations to keep in mind. These include:

  • Purity and Weight: Ensure that you are purchasing gold and silver products that have high levels of purity and that are of the correct weight. Make sure you know the purity of the product you’re buying in advance to avoid getting scammed with impure metals.
  • Storage and Insurance: You’ll need to store your gold and silver in a secure location, and you’ll want to consider insuring your investment against loss, theft, or damage.
  • Liquidity: Gold and silver are highly liquid investments, but you should still consider how easy it will be to sell your investment when you need to and how you will go about selling your metals, as this may impact the form of the metals that you invest in.

Ways to Buy Physical Gold and Silver in Canada

stacked gold bullion

There are several options available to investors who want to buy physical gold and silver in Canada. Here are some of the most common.


Canadian Banks

Buying gold and silver markets via one of the big 5 Canadian banks (TD, Scotiabank, RBC, BMO, and CIBC) has a number of advantages. Most notably, you can count on the quality of the metals purchased, especially compared to third-party vendors that may not have as high standards or oversight from regulators. Banks also make acquiring precious metals easy: many give you the option to buy gold online or in-person at a branch.

Another advantage is that the bank will provide storage options for the metals you purchase, so you can rest assured your investment is being kept safe. The downside is that premiums tend to be higher when buying through a bank than with independent dealers and you may find a more limited selection of products available to purchase.


Pawn Shops

Pawn shops are another avenue through which you can go about physically owning gold and silver. Although convenient, prospective buyers must be cautious as there is no guarantee as to the purity of these metals. In fact, it is quite possible that the metals are counterfeit or of substantially lower quality than desired, putting you at a financial risk. Consumers should thoroughly inspect any metal before making an investment and research the current market value so they are informed when negotiating.


Jewelry Stores

Purchasing gold and silver jewelry from a jewelry store can be an easy way to access these metals, but it may not always be the most cost effective. Jewelers typically charge a premium for the jewelry they produce, which means that buying from them can be significantly more expensive than purchasing the precious metal from a bank or another reputable source.

This does not mean that jewelry stores should be disregarded when looking for gold and silver; rather, buyers should be aware of the potential costs associated with such purchases in order to make an informed decision about where to purchase their physical gold and silver.

Regardless of where you choose to buy physical gold and silver, it’s important to do your research to ensure you’re getting a fair deal and purchasing legitimate products. Be wary of deals that seem too good to be true, and always purchase from a reputable dealer. That being said, there is another avenue for acquiring gold and silver that is quickly becoming the standard: registered dealers.


The Benefits of Working With a Registered Dealer

A registered dealer of gold and silver can offer unique benefits to investors. Here is a description of these advantages.

Legitimacy and Lower Rates

Being a registered dealer in Canada means a company or institution is recognized by the Royal Canadian Mint (RCM) as an official seller of their precious metal products. Registered dealers purchase their gold and silver from the RCM, which means that investors can have peace of mind that they are buying legitimate metals from a reputable source. Registered dealers can also offer pure gold and silver at lower rates due to their direct relationship with the mint.

Access to All the Right Documentation

The purchase of gold can come with long-term financial gain, but to realize that success it is important to have all the right paperwork. When you buy gold from a registered dealer, you can be sure that your paperwork will be taken care of. All registration and verification documents are provided to you at the time of purchase, so when you decide to sell your gold down the line, you won’t have any trouble obtaining a fair price from buyers.

They Offer Gold Coins, Bars and Other Products

A registered dealer may offer a wider range of gold and silver products to choose from, including physical gold bullion (or gold bars), coins, and more with different weights and purities. This can allow investors to tailor their investments to their specific needs and preferences.


Another key benefit of working with a registered dealer is that they may offer more flexibility when it comes to storage and shipping. This is important, as storing and insuring precious metals can be a significant cost for investors. By offering more options for storage and shipping, a registered dealer can help investors save money and make the process of buying and owning physical gold and silver more convenient.


CanAm Can Help With All Your Gold and Silver Investment Needs

Investing in physical gold and silver can be a smart way to diversify your portfolio and protect your money during times of economic uncertainty. Nevertheless, it’s important to do your research before you invest.

As a registered dealer with the Royal Canadian Mint, CanAm offers quality that is on par with the big Canadian banks with silver and gold prices that make seedier suppliers obsolete. When it comes time to buy gold coins, gold bars, or a variety of silver products, look no further than CanAm. We make investing in gold quick and easy, as it should be. Contact us today to speak to one of our representatives.

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