Buying gold? Jewellery and bullion are different

Decide your purpose first: jewellery to wear, or savings? Then compare purity, weight and final price. The word “gold” alone decides neither the tax nor the price you will resell at later.

1. Where to buy bullion: from an authorized dealer (the Royal Canadian Mint website shows dealers near you) or from your bank if it offers investment services. An authorized dealer is easier to verify.
2. For jewellery, choose an established jeweller or seller with a clear address and a written return policy; if something goes wrong, you know who to go back to.
3. Ask for an invoice showing weight, purity, price, making charges or premium, and taxes. Ask what they would pay to buy it back, and what storage costs; the gap between buying and selling price is your real cost.
4. Know that not all gold is free of GST/HST (sales tax). Exempt forms include bars or coins of 99.5% purity or more, while jewellery may differ; confirm the tax treatment of the item with the seller and against CRA guidance.
5. Check the bar’s security features, make sure the packaging has not been opened, and ask about delivery and shipping insurance. If you want a religious check, ask a specialist about payment, possession and delivery, especially online or deferred purchases.
6. Do not fall for a price far below market, and watch for sales pressure, unsolicited contact and warnings that your savings are at risk; these are common scam tactics.

Caution: Gold prices can fall, and this is not an investment recommendation or a guarantee.

Bottom line: Decide your purpose first: jewellery to wear, or savings? Then compare purity, weight and final price. The word “gold” alone decides neither the tax nor the price you will resell at later.

Last reviewed: 27 September 2026