What is Bullion?
Bullion is a term that is used within the precious metal industry to refer to any physical precious metal investment. Bullion can exist in bar (aka wafer, biscuit) form OR coin (aka round) form. It is a physical item you can take home with you and meets certain industry standards. In Canada, gold must be 99.5% pure to be considered bullion, and silver must be 99.9% pure.
Will I be charged tax?
There are no applicable taxes on pure gold and silver. Bullion and collectable coins that meet Canadian purity requirements - 99.5% for gold, 99.9% for silver - will be exempt of all GST/PST/HST/QST in Canada. Bullion and collectable coins that are not pure gold or silver will be subject to all applicable taxes.
What is the spot price and why is your price higher than it?
The spot price of gold and silver is the global commodity price of the respective precious metal used as a reference for various vendors around the globe. The price you pay over the spot price (market value) is known as the "premium". Because these are physical products, there is a production cost involved with each item. The premium over spot exists to cover those production costs and business operation costs.
What is DNA?
DNA Stands for digital non-destructive activation, and is the latest in anti-counterfeiting technology. The Royal Canadian Mint started using DNA anti-counterfeiting technology on all of the 1oz Gold Maple Leaf coins in 2014, and the 1oz Silver Maple Leaf coins in 2015. The DNA anti-counterfeiting technology makes these coins some of the most sought after and secure bullion coins in the world. The DNA feature contains encrypted code located within the privy mark of each coin. Our DNA bullion authentication machines connect directly to the Royal Canadian Mint and can authenticate the bullion coin in seconds.
Does condition matter?
When it comes to bullion, condition is not much of a factor in the value of your precious metals. Unlike collectible coins which are valued based on their condition and rarity, physical gold and silver bullion is valued based on how much gold and silver are in each piece. All bullion products we sell to you will meet the industry standards for good condition bullion.
Bars vs Rounds vs Coins? Why are the coins slightly more expensive?
Bullion bars, rounds, and coins can be made from a variety of minting companies, both sovereign and independent. Physical bullion coins, like the Canadian Maple, are produced by sovereign minting companies, such as the Royal Canadian Mint, and will be produced with a nominal face value, making them non-circulation legal tender. Coins are usually more recognized worldwide, and much more desirable, thus being sold for a slightly higher price due to higher production and acquisition costs. Bars and rounds are not considered legal tender and do not have a nominal face value. They are typically sold for a slightly discounted price due to the production and acquisition costs being lower. A round is simply a bar in the shape of a coin and does not have a face value.
What is a Troy Ounce? How much does it weigh?
31.1 grams. A Troy Ounce is the unit of measurement used in the precious metal industry. All precious metals are priced and calculated in troy ounces. The standard, or avoirdupois, ounce weighs 28.35 grams.
How do I know my gold/silver is real?
Every product we sell will go through a standard verification process to authenticate the purity of gold and silver in each coin/bar. When we acquire new product, everything will be authenticated on the spot so we can ensure we are selling you real gold and silver. If you would like to have your products tested and verified, you may visit any of our physical locations and ask us to test the product.