Buy Gold Canada – Investing in Gold in Canada

If you are thinking about whether or not to buy gold Canada, there are a number of options you should consider when buying gold bullion bars or gold coins for your investment portfolio. For most investors, there are usually three roads to take including gold funds and registered retirement savings plans (RRSP), local gold bullion dealers or online gold dealers and brokers. Below we explain the difference between these 3 types of gold investment so you can make the best decision before investing in gold in Canada.


Invest in Gold – Online Gold Dealers Canada

If you are looking for an option which will provide you with a large variety of bullion products to choose from, online gold dealers are usually the best option for investing in gold in Canada. When buying gold from a reputable online dealer in Canada you will enjoy much lower premiums, as their operating costs are lower than local bullion dealers for example, which allows them to pass on the savings to their customers.
Most Canadian online gold bullion dealers offer additional secured storage, which means you don’t even have to take delivery of your gold. Some online gold dealers even provide a discounted rate where you don’t take physical delivery and use their storage facilities instead. There is also much more to choose from, including a vast array of gold coins and bullion bars, biscuits and ingots.

Gold TFSA / Gold RRSP Canada

Gold registered retirement savings plans are a very popular option for Canadian investors who are looking to invest in Gold for the long term. An investor will purchase RRSP approved physical gold coins or gold bars which are held in custody for a specific time period and at a later date (usually at retirement age) are exchanged for CAD/$. Canada Gold RRSP or Gold TFSA works exactly the same as a regular retirement account except you are investing in physical gold as opposed to paper assets.

To be considered investment grade, gold coins must be at least 99.5% pure and they must be legal-tender coins produced by the Royal Canadian Mint to be RRSP-eligible. Bullion bars are also eligible for RRSP gold investing, as long as they are produced by a metal refinery that is accredited by the London Bullion Market Association. Although all four precious metals RRSP or TFSA accounts are available, a slang term that covers all precious metals is “Gold TFSA”, however, “Silver TFSA”, “Palladium TFSA”, “Platinum TFSA”, and “Precious Metals TFSA” are also used.

When you invest in a Canadian Gold RRSP or TFSA we highly recommend using a company who is recognised in the industry. We only recommended opening Gold RRSP’s with an established company from Canada, ideally with a BCA rating of AAA. It’s also worth noting that there are very strict rules to storing your gold or precious metals in Canada, so make sure you discuss this with your RRSP or TFSA account manager before making any long term gold investments.

Gold Bullion & Gold Coin Dealers Canada

The last, but not as popular option is to buy gold bullion in Canada from local gold bar or gold coin dealers. Although your local gold bullion dealer is perfectly trustworthy and sell legitimate gold, silver and platinum bullion, the issue is a lot of these dealers have small inventories and premiums are usually much higher simply because these smaller businesses have much larger overheads.

The First Capital Gold website lists a number of Canadian local and online gold bullion dealers, if you decide this is how you want to invest in gold in Canada. Simply click anywhere on the Canadian map above to find reputable gold dealers that are local to you.

Invest in Gold Bullion & Gold Coins Canada

History of Gold Investment in Canada

If you want to invest in gold in Canada, investors have a large variety of gold bullion to choose from, but that wasn’t always the case, especially if investors wanted to buy gold for retirement purposes. It wasn’t until the 2005 Canadian federal budget which made investment-grade gold and silver coins, as well as gold or silver bullion bars, eligible to be held in an RRSP.

The Royal Canadian Mint is the only manufacturer for all legal tender Canada gold coins. The U.S. Mint was founded in January, 1908 with headquarters in Ontario and Ottawa. The Royal Canadian Mint are known for their vast collection of bullion coins and have minted prolific gold coins such as the Gold Canadian Elk, Gold Canadian Moose and most notably the Gold Maple Leaf.

The Canadian Gold Maple Leaf is by far the most popular gold bullion coin to invest in Canada and the world alike. Produced by The Royal Canadian Mint and issued by the Canadian Government once a year, the coin features the Maple Leaf, is 999.9 fine gold bullion and comes in 1 oz, 1/2 oz, 1/4 oz, 1/10 oz, 1/20 oz and 1 gm weights.