Can You Sell Gold Back to Your Bank in Canada? TD, RBC, CIBC, BMO and Scotiabank Compared

Bank policies last checked October 1, 2026, against each bank's published precious metals pages.

Sometimes, but every bank sets conditions. TD says its customers can sell precious metals at any TD branch, subject to TD's assessment. RBC buys back only gold and silver it originally sold to RBC clients, with proof of purchase. CIBC considers buybacks only for products it sells, in pristine condition, with the original receipt. BMO's gold program has said it cannot buy back gold once it has been physically delivered, and Scotiabank closed its precious metals business in 2021.

Jump to: Bank buyback table Bank by bank Why banks restrict buybacks If your bank says no FAQ

Which Canadian banks buy back gold and silver?

The table summarizes what each of the Big 5 banks publishes about buying precious metals back from retail customers. It reflects each bank's own wording; branch practice can vary, so call ahead before you go.

Summary of each bank's published policy as of October 1, 2026. Banks can change these terms; confirm with your branch before relying on a buyback.

Bank by bank

TD Canada Trust

TD has the most open published policy of the five. Its precious metals pages state that TD Canada Trust customers can sell their precious metals at any TD branch, with pricing based on live market rates for gold, silver and platinum. In practice the process runs by appointment: you call a branch, bring the items in, and the branch assesses whether they are fit to buy back before giving a quote. TD reserves the right to decide that at its sole discretion, so an item TD did not sell, or one with damaged packaging, may be declined.

Clients who bought through TD Secure Storage, TD's vault service for its own customers, can sell back online without taking delivery. As with any sale of bullion, a gain may need to be reported for tax purposes. For a broader look at how TD's precious metals offering compares with a dedicated dealer, see TD Precious Metals vs CanAm Bullion, and for TD's bar range specifically, what to know about TD gold bars.

RBC Royal Bank

RBC sells Royal Canadian Mint gold and silver products through its branches and also issues gold and silver certificates, with minimums of 5 ounces for gold and 100 ounces for silver. Its buyback rule is narrow: RBC states that it only purchases gold and silver products that were originally sold to RBC clients by RBC, and that proof of original purchase is required. Coins and bars bought anywhere else, including from the Mint directly, fall outside that policy. See RBC vs CanAm Bullion for the buying side.

CIBC

CIBC sells gold and silver online and in branch, and invites clients to visit any banking centre to sell. Its stated conditions are specific: CIBC considers buying back gold and silver when the client has the original receipt, the product is in pristine condition, and it is a product CIBC sells. CIBC does not buy back collector coins, reserves the right to decline a transaction without giving a reason, and pays only after it or its agents confirm the product's quality. CIBC also notes that the buyback price may be higher or lower than what you originally paid. More on CIBC's range in CIBC vs CanAm Bullion.

BMO

BMO's physical gold offering runs through its wealth channels rather than everyday branch banking, via a gold deposit program available through BMO Nesbitt Burns advisors, BMO InvestorLine and BMO Private Bank. Gold held in the program's custody can be sold back to Bank of Montreal. BMO has stated, however, that once gold has been physically delivered out of the deposit program, it is not in a position to buy it back. If you took delivery, plan on selling elsewhere.

Scotiabank

Scotiabank shut down its precious metals business in 2021 and, as reported by the Financial Post in 2026, does not sell gold to or buy gold from retail customers. Bars and coins bought from Scotiabank before then have to be sold through another buyer.

What about bank gold and silver certificates?

Some banks also sell precious metals certificates, which are a different product from physical bars and coins. RBC, for example, issues gold and silver certificates with minimum purchases of 5 ounces of gold or 100 ounces of silver. A certificate is a record of metal owed to you, backed by the bank's own assets, rather than metal sitting in your hands or allocated to you in a vault.

Certificates are the easiest bank precious metals product to sell, because the bank already holds the position. RBC states that full or partial certificate amounts can be redeemed at any time, and that certificates can be converted to bars or coins. The trade-off is ownership: as a certificate holder you rely on the bank's promise rather than owning specific, identifiable metal. If that distinction matters to you, compare a certificate with allocated storage, where particular bars and coins are held in your name.

Why banks restrict buybacks

Banks sell bullion as a convenience product, not as a two-way trading business. Buying metal back means taking on the job of verifying it, and a bank can only do that easily for products it sold and can trace through its own records. That is why proof of purchase, original packaging and pristine condition come up again and again in bank policies. A dealer, by contrast, tests and handles metal from many sources every day, so it can buy recognized bullion regardless of where it was first purchased.

The price is the other consideration. A bank quotes its own buy price based on the live market, and that price sits below what the bank charges to sell. CIBC's foreign cash and precious metals agreement states plainly that CIBC derives income from the difference between the prices at which it buys and sells. Before accepting any quote, from a bank or a dealer, compare it with the current spot price so you can see the spread you are paying.

What to do if your bank won't buy your gold back

Investment-grade bars and coins from recognized mints remain easy to sell even when the bank that sold them won't repurchase them. The steps below help you get a fair price:

1. Gather the paperwork. Original receipts, assay cards and certificates all help. Bank-branded bars sealed in assay packaging are the simplest to sell; a damaged or opened card can reduce the offer.
2. Know what you hold. Note the product, weight and purity of each item, for example "1 oz Gold Maple Leaf, 99.99%" or "10 g bar, 999.9 fine".
3. Check spot before you call. Quotes are usually expressed relative to spot, so knowing the spot price lets you compare offers on equal terms.
4. Get more than one quote, on the same day. Prices move through the day, so compare buyers within a short window.
5. Bring identification. Precious metals dealers in Canada are regulated by FINTRAC and must verify identity for certain transactions.
6. Keep your records. You may need your original purchase cost to report a capital gain or loss.

The detailed process, including how dealers grade and price what you bring them, is covered in how to sell gold in Canada.

Before you buy from a bank next time

If you are considering bank bullion, ask two questions at the counter: will the bank buy this exact product back, and on what terms? A product the bank won't repurchase is still sellable, but knowing your exit before you buy, and comparing the bank's premium with a dealer's, can make a meaningful difference to what you keep when you eventually sell.

Frequently asked questions