How to Sell Gold in Canada: Compare Quotes and Prepare Your Sale

To sell gold in Canada, identify what you own, request a quote for those exact items, compare the amount you would receive after costs, and agree on assessment, delivery and payment before handing over the metal. The gold spot price is a useful reference, but it is not automatically your payout.

Keep bullion, jewellery and potentially collectible coins separate. The right buyer and valuation approach depend on the item. A detailed inventory and clear transaction terms are more useful than a promise of the best price.

1. Identify your gold before requesting a quote

List the mint or refiner, product, stated weight, purity, quantity and condition. Record serial numbers where present, and whether original packaging and receipts remain available. For coins, include the year and issue if known. Keep photographs and ownership records private.

A bullion bar, a piece of jewellery and a rare coin should not automatically receive the same valuation approach. Ask for a collector assessment before accepting a metal-only offer for an unusual coin. Avoid cleaning coins or opening sealed assay packaging just to prepare for a quote.

Use the exact product specification to establish fine-gold content. Fine content means the weight of gold itself, excluding other materials. If starting from gross weight, account for verified purity and non-gold components. If the specification already states fine-gold content, do not reduce that figure by applying purity again. Markings and home measurements help describe an item; they do not authenticate it.

For bar-specific preparation, serials, assay packaging and selling part of a holding, see our guide to selling gold bars. For mixed silver holdings, use our separate silver-selling guide.

2. Choose a buyer for the items you have

Questions to ask before requesting an offer

Buyer route	What to establish
Bullion dealer	Does it accept your exact bars or bullion coins, including products bought elsewhere?
Coin specialist	Is the assessment based on collector value, metal value or both?
Jewellery buyer or refiner	Which items are accepted, and how are non-gold components, testing and deductions handled?
Original bank or retailer	Is repurchase offered for this product, and what receipt, condition and inspection requirements apply?
Other local or private buyer	How will assessment, payment and secure handover be arranged, and what happens if the sale does not proceed?

The business category alone does not establish the highest offer. Obtain the actual terms. A retailer’s return policy and a market-price buyback are separate arrangements; do not assume your original seller must buy the item back.

3. Compare reference value with net proceeds

Check a current price in CAD and use the same fine-metal units. Fine-gold quantity multiplied by a matching price per unit gives a reference metal value. A product-specific bid can differ because of the product, condition, market and buyer’s terms. Ask for the bid rather than using a dealer’s retail asking price as your expected payout.

Illustration only: assume one fine troy ounce and a hypothetical CAD $4,000 per fine troy ounce. Reference value is $4,000. An imaginary gross bid of $3,920, less $30 in agreed costs, leaves $3,890 net proceeds, equal to 97.25% of that reference.

The $80 difference between reference and gross bid is separate from the $30 deduction. These invented inputs are not a current price, normal spread or CanAm quote. The example excludes any other assessment, transport, insurance or payment costs and any tax consequences. Include applicable costs once when comparing your own offers.

4. Ask the same questions of each buyer

Give each buyer the same inventory and compare quotes close together in time. For mixed holdings, request separate prices by product or category. Ask for:

• The gross offer and the net amount payable after agreed deductions.
• Quote expiry and when, if at all, the price becomes fixed.
• Assessment methods and anything that could change the offer.
• Permission requirements for testing that could alter an item.
• Delivery or drop-off instructions, coverage and responsibility for loss.
• Payment method and the event that starts the payment clock.
• Return arrangements and costs if no sale is completed.

A photograph-based estimate is not evidence that an item has passed authentication. Ask how discrepancies are documented and whether you can decline a revised offer.

5. Arrange assessment and transport before moving gold

For a visit, confirm the current receiving location and appointment requirements. For a shipment, obtain the buyer’s instructions first. Check that the agreed cover expressly includes bullion and the shipment value, along with limits, exclusions and claim procedures. A prepaid label, tracking or signature does not by itself establish full insurance.

Keep the inventory, photographs, agreed quote terms and dispatch or handover records. If you inherited items, bought privately or lack the original invoice, explain what records you have and ask what assessment is needed. Do not assume missing packaging guarantees rejection or acceptance.

6. Prepare identification and sale records

Ask what identification the buyer requires before travelling or shipping. FINTRAC sets identity-verification obligations for dealers in specified circumstances; do not interpret one transaction threshold as a general exemption from identification.

Keep purchase records, ownership information, correspondence, sale confirmations, deductions and payment records. Tax treatment depends on your circumstances. Ask a qualified Canadian tax professional about reporting and cost records, especially for inherited items or business activity. The CRA’s capital-gains guide is linked below; this article does not calculate your tax.

Selling through CanAm Bullion

Start with a free quote enquiry through our selling service page or call +1 (844) 828-4653. Provide the product details, quantity and condition. Confirm acceptance of your specific items; an enquiry does not establish that every jewellery item, collectible or third-party holding will be purchased.

Our published process says shipped packages are opened under camera and the metal verified, followed by direct deposit within one business day after verification. No assessment turnaround is stated. That business day starts after verification, rather than dispatch or arrival.

Before visiting or sending metal, confirm the quote conditions, deductions, identification, receiving instructions and insurance arrangements. For a proposed Windsor visit, our confirmed address is 3854 Dougall Ave, Windsor, ON N9G 1X2, Canada; confirm approved drop-off arrangements with the team first.

Before accepting an offer

• Identify the item and distinguish fine-metal from collector value.
• Compare the actual net offer for the same inventory and currency.
• Understand assessment, price changes, transport and payment.
• Keep the written terms and transaction records.

Sources

• FINTRAC: when dealers must verify identity.
• CRA: Capital Gains guide — consult the applicable year’s guidance for your circumstances.

Related reading: Gold Taxes in Canada: What You Need to Report | How to Invest in Gold | Gold Bars vs. Gold Coins