Frequently Asked Questions About Buying Gold In Canada
How do I store my gold?
Once youve purchased your gold, youll also need to find a safe place to store it. There are several options to consider, including the following:
- Bullion dealers. Many gold dealers will also offer a storage service where you can keep your gold bars or coins for a fee, so ask about the storage options available when you make your purchase.
- Safety deposit boxes. You can rent a safety deposit box at a bank to securely store your gold bullion.
- Secure vault storage. For high-level security, you may want to research vault storage companies near you and the storage options they offer.
- At home. You can also choose to store your gold at home. This obviously may not be as secure as some other options, so you may want to get a home safe installed. Youll also need to update your home and contents insurance to make sure your precious metal is covered by your policy .
Do banks sell gold?
Some banks do sell gold to customers, but many do not. Canadas Big 5 banks TD Canada Trust, CIBC, BMO, RBC and Scotiabank all sell gold and other precious metals. If youre interested in buying from a bank, talk a local bank representative to find out what your options are, and make sure your investment comes with a secure way of storing your precious metals. Youre also more likely to get a better price if you are a customer of the bank youre buying gold from.
French Rooster Gold Coin
French Gold Rooster reverse design.
Before the era of modern gold, bullion coinage was in use across Europe. Enter the French 20 Franc Roosters, a series of gold coins struck from 1899 through 1914.
The obverse of the coin bears the portrait of Marianne, Frances goddess of freedom and liberty. The reverse carries the visage of the eponymous Gallic Rooster, the nations unofficial national symbol. That’s how this gold coin acquired its name.
20 franc gold coins are roughly the same physical size as a United States nickel. Each coin contains 0.1867 ounces of gold . The French Rooster has become one of the most widely traded classic world gold coins, along with the Sovereign.
While the France 20 Franc is a vintage gold coin, most dates arent rare. These classic French Roosters can be bought for relatively small premiums over the current gold spot price.
Pros And Cons Of 14 Karat Gold
When shopping for jewelry like wedding bands and engagement rings, you cant fail to notice the dominance of 14K gold. It is Americas best choice of jewelry, sold in every state of the country. But why the hype?
14K gold is about 58% gold and jewelers find it a perfect balance of both worlds. Unless with a trained eye, the precious metal looks exactly the same as a piece of 18K gold jewelry. Also, when compared to 14K gold to 18K gold, the former has higher durability and will not easily show signs of wear.
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What Could Those Other Metals Be
Gold Alloys include:
- Pink gold is an alloy of gold and copper. Silver and other metals are sometimes used too, to achieve the exact coloration that a jewelry manufacturer wants.
- White gold is an alloy of gold and at least one white metal sometimes more than one. Those additional metals could be nickel, palladium, or zinc. Sometimes a little copper is added to make the alloy less brittle and easier to shape.
- Green gold relatively rare is an alloy that usually contains only gold and silver.
- Blue gold also rare is an alloy that contains gold and indium.
Secure Storage Is Necessary
As gold bullion is valuable, finding a secure storage vault is essential to prevent theft or loss. You can store your gold at a home vault. Other investors prefer storing their gold in a dealers secure vault.
Off-site storage costs money and doesnt give you instant access to your gold if you need to sell it quickly.
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Does A Higher Karat Mean Higher Quality Gold
To put it simply, no. Whilst 24k is the purest form of gold available, it does not mean it is of a higherquality. It means that there is more gold in it, and therefore it is more valuable. However, 24 karatgold is rarely used in making jewelry, as pure gold is too soft and can be easily damaged. Gold that isblended with more alloys is stronger. This is preferable especially for jewelry as the lower karatsmake a piece of jewelry more durable. The lower the karats in a ring, for example, the stronger it willbe.
The most common karat used in jewelry and generally the most sought after is 18k gold. This meansthat 18 out of 24 parts of the piece is pure gold, a relatively high number. The one quarter thatis not gold will be made up of other alloys, making the jewelry more durable, better for everydaywear and slightly cheaper.
The lower the number of karats, the less amount of pure gold it contains, so the more affordable,more durable and more suited for daily use it will be.
What Type Of Karat Is My Gold
Each piece of jewelry is stamped with the karat designation somewhere on the piece. For jewelry pieces, you probably will need a magnifying glass to find a two-digit number with a k or kt after it. If you dont see a two-digit number but a three-digit number instead, place a decimal point in front of the numbers and youll have the percentage.
- .999 = 24k
- .585, .583, or .575 = 14k
- .417 = 10k
If neither of these options is available to you, Bellatory recommends other tests that you can do to determine the purity of gold.
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Picking The Best Gold Stocks
The best gold mining companies have low cost structures, manageable debt levels, and limited exposure to risky mining projects. Gold streaming companies generally offer the highest return potential among gold-focused investment options because they are well-positioned to benefit from higher gold prices without assuming the risks associated with mining physical gold.
Investors who dont want to be tasked with identifying the best individual gold mining stocks can instead buy shares in gold exchange-traded funds, which are more convenient and cost-effective options for investing in gold stocks. A gold ETF offers broad exposure to the sector by owning either shares of gold companies or physical gold. Because of the wide availability of gold stocks and ETFs, you don’t have to be a stock-picking guru to participate in the gold industry’s upside.
What Are The Different Types Of Gold Jewelry Available
When buying gold jewelry, you should look for the K or karat mark. This denotes the measure of purity of the gold. This K mark will tell you the gold content in the piece of jewelry you are purchasing. The mark 24K or 999 stands for 100% pure gold, which is a very soft metal and not at all practical for use in making gold jewelry. It scratches and gets deformed very easily.
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How To Buy The Perfect Kind Of Gold
In addition to solid 10k, 14k, and 18k gold, you can save money buying other gold jewelry types.
One option is gold-plated jewelry made of base metal covered in real gold. The problem is that the gold plate will wear off in a few months, leaving you with a ring that may turn your finger green.
Gold-filled jewelry uses a much thicker layer of goldby law, 5% of the weight must be goldbut underneath, its still a common and potentially allergenic metal.
Finally, you can choose gold vermeil jewelry, which we sell here at Blush & Bar. Gold vermeil is considered demi-fine because its made entirely of precious metalsilver underneath, coated with a layer of gold thats five times thicker than gold plating.
As a result, the ring is hypoallergenic, made of gold and sterling silver, and yet costs far less than a piece of solid gold jewelry.
Here are Blush & Bar, all of our gold vermeil pieces are made with nickel-free, hypoallergenic 18k gold and 92.5% pure sterling silver.
Check out some of our bestselling pieces below!
Global Production Of Gold
Demand is just the one side of the coin. Supply and production equally affect the price of gold.
According to the latest report of the US Geological Agency there are around 55,000 60,000 tonnes of global gold reserves .
In the last decade , are mined 2,500 3,500 tonnes of gold on an annual level.
As in the case of oil the production of gold is controlled by a handful of companies that are extremely prudent in keeping the price stable.
The largest mining companies by revenue in the world are Glencore , BHP , Rio Tinto , China Shenhua Energy , Anglo American plc . All these companies are public and investors can invest in them through stock markets.
Inevitably, at some point all easily to mine gold will be extracted leading to its scarcity. Remaining gold will be extremely difficult to mine, leading the mining companies to invest in costly mining technologies. This additional operational cost in the long-term will be reflected in increased gold prices.
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When Should You Sell Your Gold Jewelry
You want to make sure youre selling your gold when its the highest in value. Ensuring the best deal is difficult since the price of gold constantly fluctuates based on the condition of the economy. Youre going to get the most money when the economy is in the best shape. Be mindful of this point before moving forward. Once you have determined the economy is in a good spot, track gold prices to determine its selling rate.
You may be wondering which gold is more expensive. The higher the karats in the gold youre selling, the more money youre going to receive in return.
Spdr Gold Minishares Trust
The SPDR Gold MiniShares Trust is a lower-cost product launched by the same investment managers as the SPDR Gold Shares ETF. They created this ETF for cost-conscious retail investors so they didn’t lose market share to rivals such as the iShares Gold Trust. They opted to create a new ETF rather than changing their highly successful SPDR Gold Shares product favored by institutional investors. This gold ETF offers the same direct exposure to the price of gold since it also owns gold bullion, but at a lower cost.
That makes this ETF an ideal option for investors seeking the cheapest way to invest in gold without owning it directly. However, given its smaller size, this ETF has less liquidity than larger gold ETFs. This factor could impact pricing during periods of market volatility. However, thanks to its lower costs, it should do the best job of mirroring the price of gold over the long term since its ultra-low expense ratio won’t have much impact on returns.
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Gold Alloys And Gold Colors
When choosing a gold ring, karats arent your only consideration. Much of your ring will likely be made of an alloying metal – and your choice of metal can make a big difference in how the ring ultimately looks and functions. Some of the most commonly used alloys in gold jewelry include silver, copper, zinc, nickel, palladium, and platinum.
There are four main ways the alloying metal affects the jewelry:
What Karat Gold Is Best For Rings
When you are shopping for gold jewelry, perhaps a wedding band for your fiancée, the higher the karat the better, right? Not necessarily. Its true that 24K gold is the pure choice, and must actually contain 99.95% gold.
But there are drawbacks with pure gold, namely that gold is a soft metal. For that reason, you might want to consider 18K or even 14K gold for your fiancés ring. 18K gold is eighteen twenty fourths gold, which comes out to 75%. 14K gold is around 58% pure, with alloy metals making up the remaining 42%.
How is karat gold made? Jewelers melt gold together with other types of metal to create an alloy. A number of different types of metal can be used to create the alloy. Silver and copper can be used to create yellow gold, a popular traditional color for engagement rings and wedding rings.
Then there is white gold, which is often created by adding nickel .
Palladium is another metal which can be used to create white gold. Rose gold is created in a similar manner to yellow gold, but with a higher percentage of copper.
Anything ranging between 20-24K is considered relatively pure. Gold rings in this range tend to be very soft. Their colors are deep, and they are certainly considered very precious. High karats like these are the standard in certain parts of the world, particularly in Asia and the Middle East, where they are considered traditional.
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The History Of Gold As Stable Medium Of Exchange
Gold coins have been used as a medium of exchange since ancient times.
The use of banknotes as we know it today did not start in Europe earlier than the 17th century.
Nevertheless, in times of war governments were deliberately devaluing the banknotes value in order to finance their increasing debt. For this reason, laypeople were reluctant to hold banknotes and they preferred to trade in gold bullions.
To convince people to use banknotes and copper coins, governments set a gold standard. Through this standard authorities agreed to exchange at any time in any commercial bank, banknotes and copper coins with god at a fixed price.
Based on this standard was born the gold exchange standard and subsequently the Bretton Woods System.
The Bretton Woods System was a system of fixed currency exchange rates. According to this system, the US agreed to link the dollar to gold at a fixed rate of $35 per ounce. All other currencies were connected to the US dollar with stringent exchange rates that could be readjusted only through IMF conferences.
The system collapsed during Nixons Presidency. The devastating war in Vietnam and the increasing US debt forced the US government to abandon the pledge to exchange gold to a fixed rate of $35 per ounce. A flexible exchange regime was adopted that regulates currencies until today.
Even today that the attention of investors shifted to digital currencies as bitcoin the interest for investing in gold increases.
Is White Gold Cheaper Than Platinum
Price. Elizabeth shares, Platinum is roughly 40-50% more expensive than white gold because more platinum is required to make a piece due to its density. Since white gold is a mixture of durable metals, it is much lower in price and more affordable than platinum. However, its not all about up-front costs.
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What Type Of Gold Is Best For Your Wedding Ring
Gold has always been a popular choice when it comes to wedding bands. Made in various shades and various karats, its important to know the ins and outs of our choices before we decide whether to invest in a 10K rose gold design or a 24K white gold band.
This is your forever and ever piece of jewelry, so make sure you learn exactly what youre buying into before you make the final decision.
K Gold: Valuable Classy And Timeless
According to everything-wedding-rings.com, many engagement and wedding rings are made up of 14k gold. One may see 14k bracelets, earrings, and necklaces as well. Gold jewelry that is rated as 14k gold gives off a softer look when comparing 10k vs 14k gold. This gold is a higher-quality blend of gold and other metals and alloys but it is still affordable for purchasing. Similar to 10k, a 14k gold piece is durable and wont easily tarnish.
According to jewelry tradition, 14k gold is the choice for timeless elegance. The 14k white gold option never seems to go out of style thanks to the complementary features next to a white diamond. The only downside is that you as the owner of a 14k gold piece need to be diligent with polishing and maintaining your jewelry.
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What Color Of Gold Is Best Suited For You
This is the million-dollar question. First and foremost, you should always choose jewelry that you will LOVE wearing for whatever reason, and especially if its a sentimental piece. Sadly though, people often buy a brand without considering whether the particular piece or brand compliments them.
Sometimes, people think because someone else was wearing something that looked amazing on them, it will also flatter them. Sometimes it does. But wouldnt you rather know what metal color suits your skin best, both aesthetically and functionally? Because jewelry often rests on skin , the contrast of the metal against your skin is apparent. Understanding which metal compliments your skin tone is, therefore, critical.Skin tone is not the same as your skin color. Skin tone or under-color is unchanging and related to ethnicity and biological composition , while skin color may go from pale to tan depending on exposure to environment.
Chinese Panada Gold Coin
Surprised? Our 2nd ranked coin is Chinas beautiful struck Gold Panda Coin. This coin is the 1st gold coin I ever owned so I am a bit biased towards it. However, I also enjoy the Gold Panda because Chinese coins maintain the highest value appreciation and premiums in the gold coin industry. China is obsessed with gold, and with their large population, you always know your Chinese Panda coin will remain in high demand.
The Gold Pandas were first minted in 1982 in 1 oz, 1/2 oz, 1/4 oz and 1/10 oz coins. In 1983, they introduced the 1/20 oz sized coins. Some years also include 5 oz and 12 oz Gold coins.
In 2016, The Peoples Republic of China began minting Gold Pandas in the metric system sizes to better suit the international appeal of the coins. Each year, the design of the panda changes making them highly collectible. The only year they did not change design was 2002, which used the same design as 2001. Collectors spoke up about this halt in the design changes, and the annual design changes resumed in 2003.
The Peoples Republic of China issues and guarantees the quality of each Gold Panda coin. Gold Panda coins are minted from several mints each year. Those mints include but are not limited to Beijing, Shenzhen, Shanghai and Shenyang.
Unlike the U.S. Mint, these Chinese Mints do not incorporate mintmarks to distinguish the difference between each mint every year. Some years such as 1987 do feature a Y mintmark or S mintmark.
- 30 grams
- 15 grams
- 8 grams
- 3 grams
- 1 grams
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