What you need to know about selling gold
Gold coins (and bars) exist in various sizes, with 1 oz. being the most common. In Canada, gold coins are struck by the government and are produced by a variety of companies, including the Royal Canadian Mint. Different brands come up with unique styles. The Maple Leaf, Kangaroo, and Libertad are all popular gold coins. Gold Coins can be more expensive than other types of gold bullion, such as gold bars, ingots, and rounds, due to increased production costs and, as a result, higher premiums. If you’re researching how and where to sell gold coins in Canada, you should know that in some cases you could be able to get a better price for your unwanted gold coins than you would for other gold bullion.
What determines the value of Gold Bullion
When estimating the value of gold coins & bars, our experts examine a few things. Purity, weight, melt value, condition, and current gold market value are among them. Finding a reputable place to sell Gold coins, bars & bullion will ensure that you receive the maximum payment prices for your gold.
What is Gold Bullion?
In Canada, fine .999+ gold bullion is considered an investment grade product and is not subject to sales tax; you can invest in gold bullion through your RRSP and benefit from the tax benefits. Only gold coins, however, are designed for circulation and are considered legal tender.
What is the price of Gold today?
The spot gold price is when gold will be sold today. This price fluctuates on a daily basis and is the benchmark by which dealers establish their rates when buying from customers. One troy ounce of gold can be purchased or sold at the current price based on an unfabricated form of gold. Unfabricated gold is gold that has not been refined into a coin or poured into a bar. The current price of gold is influenced by a number of variables. Market speculation, current events, supply and demand, and other factors will affect the rise and fall of spot gold prices. It’s important to remember that gold is regularly purchased and traded worldwide.
How much is your Gold bullion worth?
Gold bullion bars or bullion gold coins may often be acquired and sold at smaller price premiums over the changing spot price than numismatic coins. In contrast to collector coins, they have no historical importance. How is the bullion price determined? It is determined by the gold piece’s purity and the current gold market price. The more pure a piece is, the more gold it contains, resulting in a greater price.