The Mint doesn't usually sell bullion coins. I think the Maple Leaf currently on sale at the Mint is a special strike, so it is sold as a collectible, not for its gold content.

I've purchased from J&M in the past. I think other members pointed out Border Gold as an alternative.

 

Scotia bank sells coins and bullion, but you are correct that there is a substantial premium over the price of gold for minted coins.

 

http://www.ebay.com/bhp/1-oz-gold-krugerrand-coins

 

For non physical posession there are also firms selling receipts for gold housed in vaults, like Scotia Bank's in downtown Toronto.

I read an intersting construction article on this; the challenges of going one floor deeper underground than any other tower ever built downtown.

 

CIBC also sells bullion these days.

https://www.preciousmetals.cibc.com/gold-GC1RCM.aspx

One member posted that you can buy Maple Leafs at RBC with a $50 (?) premium, which will probably be cheapest.

 

https://store.nwtmint.com/product_details/1033/Gold_Maple_Leaf_1_Ounce/

If you buy $5, they'll drop the price from $1380 to $1290 (all US), which is pretty good.

http://bullion.nwtmint.com/gold_mapleleaf.php

 

Hi Sags, Looks like you're looking at the Grandmother moon mask. http://www.mint.ca/store/coin/pure-...igh-relief-coin-grandmother-moon-mask-mintage-500-2013-prod1670002#.Uupq9zaA2M8 It's just over a troy ounce so, yes, a huge premium over the price of gold. The question is, will it's collector value hold (which is what is giving it the premium). On the plus side: very small issue (500), subject matter is very much in vogue for collectors, and the ultra high relief is also desirable over regular relief. Also the .9999 silver version of the same coin is trading at a slight premium over the issue price a year later.
On the minus side, RCM is issuing so many different designs every year aimed at the collector market that the market is a little saturated. For every home run eg the Superman series, there are probably ten strike outs. Your gamble is that collectors will continue to pay the premium over gold. The stop loss is that it will always be worth it's weight in gold, so to speak. It's a stunning coin with a better than usual chance I would say of maintaining it's collector value, so if you are looking for a collectible, it's not a bad punt I guess. You might be better off looking at the 5 and ten dollar gold circulation coins 1912-14 that are slabbed (ie rated by a third party agency) to be more assured of future collectible value.
If you just want physical gold and don't care what it is then buy "junk" ie gold sovereigns with no numismatic value, but generally, no premium over spot.
good luck

 

i would avoid northwest territorial mint ... why go outside the country ? (among other reasons)

http://silvergoldbull.com/gold/1-oz-2014-canadian-maple-leaf-gold-coin

silver gold bull or border gold are both very good, i use border gold because they are closer to me

the plain old canadian gold maple leaf is one of the purest gold coins you can buy

Guaranteed purity (.9999 fineness*; 24 carats) & weight

if you live in a major city just check out your local coin store or pawn shop, these guys all watch each others prices like hawks

why would you spend 3000 when you can have a gold maple for $1475 delivered and get the purest gold coin you can buy ?

as actor points out above i would avoid the rcm who are now turning out endless crap which will not hold its value

just check out craigslist and look at all the discounts on coins that rcm sold years ago

personally i would buy this over a gold rcm maple: http://silvergoldbull.com/gold-bars/1oz-canadian-gold-wafer
they are totally sealed and serial numbered
maples are hard to counterfeit but these new sealed wafers are very hot right now

 

+1 for Border Gold or Kitco. Just google them for contacts. Their premium is about 5% above spot. So you need to make 5% to break even. These dealers are not charity so they will not buy and sell at spot prices and make zero money. They are a business with rent and employees to pay so there is always a premium spread to pay.

 

right, it makes no sense to buy these coins to flip them because of the spread the dealers must charge, they are only useful for long term holds

 

Yes, it was the Grandmother Moon Mask I was looking at. It looks like a beautiful coin with a face value of $200.

I was thinking of buying the coin, as a keepsake for my Grandson. My dad left us kids $3,000 each in his will and I don't want to spend the money or let it sit in the bank. I want something I can look at.......hold.......show my son and grandson.......and pass it on to them in the future, as a keepsake from their grandfather/great grandfather.

I wouldn't want to see it ever get sold, but that would be out of my control at some point in the future. I just don't want get totally "hosed' on the premium added to the coin.........but I can see where the coin is "special" and for that reason I was somewhat interested.

On the other hand, I could buy 2 gold wafers for a similar price, which I could give one to my son and one to my grandson some day. I think as a non-collector, for my purposes, I would probably be wise to buy 2 of those in the sealed packaging.

Thanks for the links.

I am going to check out all the information provided............thanks for all the replies.

 

A friend of mine uses SPROTT to buy physical gold and silver. Make sure you request the stuff be delivered to you by registered mail not FEDX.
http://store.sprottmoney.com/specials/gold-and-silver-blowout-sale/1-oz-gold-bars.html

 

You could buy a 1 ounce bar right now for $1275 US if you were to walk into Scotia Plaza in downtown Toronto

A few tips. Gold coins cost a lot more (higher premiums) because they're attractive and like a work of art. Bars and wafers get you closer to real gold prices, they have the lowest premiums and are preferred for investments. The bars and wafers are still very attractive, I guarantee you that. If you're talking about a gift or investment, I think a gold bar is just fine.

To ensure maximum liquidity in the future (meaning that other places will buy it from you) only get bars from refiners listed on the LBMA Good Delivery List. Everyone in the world looks at this list to determine whether a gold bar is recognizable. I wouldn't buy from craigslist personally. It's still important to have some documentation of who you bought it from, and you want gold that's in good shape. You want a reputable dealer. If the bar comes with an assay certificate, that's even better.

Whatever you do, check live spot market prices to see how much premium you're paying to the spot price. The cheapest I have found is at Scotia Plaza in downtown Toronto when you go in person (no shipping fees). I recently paid 1285 USD for 1 ounce bar, and spot market was 1255 USD meaning that I paid $30 premium or 2.4%. That's about the lowest premium you'll find in the country.

 

Hmm, well now it seems to me that it is the perfect gift. The grandmother moon mask from the grandfather, I find that poignant and much more touching than anonymous gold wafers. As you are not buying it as an investment, and hopefully it will never be sold in your lifetime, then why not? But I do admit to being sentimental, and also loving that particular coin. It sort of straddles the border between collectible coin and limited edition art piece. You could always buy the silver one instead - 1 troy oz .9999 for around $170, a premium over it's release price of $150.

 

My Grandfather bought us coin collectables when I was a kid. I have no idea where they are now. For all the moving that I've done I might have just thrown them out. Shame because they were probably worth something.

Anyway, that's the problem with collectables, they mean something to the buyer but not always the receiver.

If you have $3000 to spend on these kids, take them on a trip to Costa Rica for a week and take lots of pictures. In my mind those are much better keep sakes.

 

Sprott would be a reputable dealer too. Notice how the bars on their site are from the LBMA's Good Delivery List

 

You should not be paying anywhere close to $3000 for a 1 ounce coin. As others mentioned, if you really want a "coin" then go with the Maple Leafs which have a reasonably small premium over spot, such as

1 oz Maple Leaf at Sprott (appears to be 2.5% premium to spot, before shipping charges)

 

By the way here's what the gold bar, this one is round, looks like from Scotia. I censored the serial #. Click for lage

24K (highest purity), Valcambi Suisse (known refiner), with assay certificate for mark of authenticity, in a hard plastic case.

For gift purposes I would probably opt instead for a Royal Canadian Mint bar or Maple Leaf coin. In any case, it's going to be beautiful

 

Very nice idea when my father in law died we saved the money until we could find something fitting to do for our daughter a few years later, we sent her on a school trip for the 65th anniversary of D day .She got to stand at a grave with a candle with her classmates and really appreciated what her great grandfather and uncles went through.

 

The grandmother moon mask is a very beautiful coin
In 20 years it is likely to be worth about the price of a 1 ounce gold coin
You can buy 2 ounces of gold for less than the moon mask and in 20 years have 2 ounces of gold

RCM coins are very beautiful but 99% of the time end up being poor investments
I would buy a couple of nice sealed and serialed gold bars which are actually also quite beautiful

If your grandson had a special connection and love of First Nations mythology and lore, that would be another story entirely ...

 

I get my gold from the local branch of the Royal Bank. They have the best prices, better than Scotia Mocatta or any other dealer I tried.

It is now 2 or 3 years since I bought gold but, at the time, they charged the 10 AM London Gold Fix price, plus $40 per ounce, plus a flat $15 delivery fee (for any amount of gold).

For some reason they charge sales tax on coins but not on bars. I thought this was backwards since coins are money and bars aren't but that is the way it works.

I was the first to buy gold from my local branch so it took them a day or 2 to figure it out but now, it is more routine.

Suggest you call or drop in at your local branch and inquire.

They sell new coins and bars from the Canadian mint, Johnson Mathey and other well known refiners.

They told me they will buy back the gold without an assay fee if they are the same brands they sell.

Later. I checked today's gold price. The London AM fix was $1254 US = $1400.84 CDN

$1400.84 + $40 = 1440.84 per ounce bar.

Delivery charge, $15.

Total $1454.84 per one ounce bar.

For coins add 13% HST

As I said, this was 2 or 3 years ago. Check with your local bank.

 

Did they sell any fractional gold bars? Or was the smallest size 1 oz?

 

Thanks for all the replies.

I think my mind is made up to buy 2 of the sealed, serial numbered gold bars (wafers).

They will be unique enough for him to look at and ponder.........., although the coins are pretty nice too.

He is at that age where money fascinates him.........storing it, stacking it, finding it under his pillow after the tooth fairy comes.

And he continually wants it counted and asks what the value is..........in terms of buying new Skylanders.

Gold is kind of fascinating.............isn't it?

It holds such a long history..........from the earliest civilizations........King Tut..........Fort Knox............Wells Fargo..............

He won't be taking them to school for "show and tell" without an armed escort though.

 

Rusty: in case you're interested, I got a quote today at an RBC branch for 1 ounce gold bar.

They quoted 1433.60 CAD plus a very reasonable 10.50 for delivery.

Market rate at NY close was 1243 USD = 1389 CAD. So they're taking around $45 premium to spot, slightly higher than the $40 premium you remembered.

 

My price was based on the 10AM London Gold Fix price which is what the bank uses. If you ask tomorrow it should be lower as the price of gold dropped this afternoon.

Your quote of $1433.60 + $10.50 = $1444.10 is pretty close to my estimate of $1454.84. This seems like a very competitive price, delivered to your local bank branch.

 

Do not buy 99.99 (pure) gold, buy 92.5% or something that is not pure. You will have to pay capital gain tax on pure gold purchase/sale. Not pure gold bullion/coin can be considered a personal item. There is another condition - do not buy 1 oz coin (it is over $1000+), buy less than that, because if the personal item is over $1000 you have to pay taxes on the gain when you sell. If you buy 1/2 oz not pure gold bullion/coin you will probably never pay tax. DO NOT BUY FROM CANADIAN MINT, you will overpay!!! If you need a dealer I can refer you to several (I have no vested interest, i do not sell coins and do not benefit from your purchase) If you do not want to deal with dealers EVERY bank in Canada by law has to sell gold coins (most of people including tellers in banks do not know that banks sell gold/silver)

 

Do not buy 99.99 (pure) gold, buy 92.5% or something that is not pure. You will have to pay capital gain tax on pure gold purchase/sale.r)

But .925 gold is subject to sales tax, .999 is not.

 

Rusty I agree that RBC's price looks quite competitive, delivery and everything. I think I may buy my next bar from them but I would first want to check what kinds of bars they're selling, what they look like and which refiner. RCM bar, ideally