# Where to buy silver in Toronto?



## Taxsaver (Jun 7, 2009)

I would like to buy about $1000 of silver. I don't want to argue about the idea of buying silver, though. I just need to know where I can buy silver at the best price. I checked out Scotia Bank, and they charge 10$ of the value, so it would cost me $100 on my $1000 purchase.


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## Jungle (Feb 17, 2010)

I just read on another forum that some guy was buying it of kijiji. Not sure how you check if it's authentic.


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## davext (Apr 11, 2010)

This might be a dumb question. When you buy silver/gold is it registered so that when you sell it, you'd have capital gains or losses?

My parents have some silver bars in a safety deposit box and asked me if we should sell them. I think it's a time to hold them right now. 

I have been buying SLV in the money call options. That might be better than holding physical silver? it's working for me so far.


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## ramy98 (Sep 20, 2009)

I buy Physical bullion from www.firstmajestic.com 

Been thinking of making another order for myself... 


BTW, Its great to see people buy physical... I think if you can scounge up the extra coin try to get more than $1k in.

Answering the question regarding registration..... They dont register the owners of bullion would be too time consuming but remember the seller always has his sales invoice records etc...

I personally like physical compared to ETFs, who really knows if the ETFs have the assets that they claim they have... Why risk it when govnts are printing money like there is no tomorrow...


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## Taxsaver (Jun 7, 2009)

Jungle said:


> I just read on another forum that some guy was buying it of kijiji. Not sure how you check if it's authentic.


Please don't do that.


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## Taxsaver (Jun 7, 2009)

If I buy from an American seller, I guess it does not matter that they keep a record of me or not.


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## Taxsaver (Jun 7, 2009)

A video to see about Nova Scotia Bank's silver vault:

http://www.youtube.com/watch?v=DNSakO8Z11o


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## Jungle (Feb 17, 2010)

Taxsaver said:


> Please don't do that.


Do what? I don't buy silver, never have in my life.


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## Taxsaver (Jun 7, 2009)

Jungle said:


> Do what? I don't buy silver, never have in my life.


I'm sorry for not being clear, once again... I was advising everyone not to buy on Kijiat.


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## Jungle (Feb 17, 2010)

all good.


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## fatcat (Nov 11, 2009)

i bought gold maples from www.bordergold.com and would recommend them highly ..

they tend to much cheaper than scotiamoccata

i.e. silver maples 100 or more at bordergold =29.60, less than 100 30.03 each

silver maples at scotia = 31.52

a savings of almost $2 each

their gold maples are a full $100 cheaper each

bordergold has been in business a long time and are very professional

sorry, tired posting .. bordergold is actually in bc ... they do ship quickly via fedex though


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## Taxsaver (Jun 7, 2009)

My waiting for buying is costing me every day. It was at $25 an ounce on Oct 2. Now on Oct 5, it was at $27.


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## Potato (Apr 3, 2009)

davext said:


> This might be a dumb question. When you buy silver/gold is it registered so that when you sell it, you'd have capital gains or losses?





Taxsaver said:


> If I buy from an American seller, I guess it does not matter that they keep a record of me or not.



To be pedantic, you have a capital gain/loss no matter whether a 3rd party keeps copies of the records or not. If you want to evade taxes, then it becomes easier if you're the only one with the records.


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## billiam (Aug 24, 2009)

If you keep your purchases of silver in coins (Silver Maple Leafs, Silver Eagles) then you can use the tax rules to avoid most capital gains/loss issues assuming your coins don't exceed the threshold amount and your not considered a business. Coins qualify as listed personal property.

As far as purchasing physical coins you will always pay more then the spot rate for silver just some dealers are cheaper then others. Remember to factor in shipping & insurance costs if you decide to go with Borders or another online supplier when you do a price comparision to BNS's prices.

I believe the RCM has a list of authorized dealers on their website.


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## davext (Apr 11, 2010)

So do most people declare capital gains after selling gold and silver?


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## johnmaters (Dec 23, 2010)

*Haven't you guys heard of cache in Toronto?*



Taxsaver said:


> I'm sorry for not being clear, once again... I was advising everyone not to buy on Kijiat.


I'm really surprised you guys haven't heard of www.cachemetals.com/store. I've purchased from 3 online stores before i found them this year including buyign on ebay. The great thing about Cache is that they are local to TORONTO on yonge streets and eglinton and they will allow you to take physical possession of the bars or coins but u have to call them. 

I bought a 100 oz silver bar from them 2 weeks ago and saved myself a lot of money on shipping by picking it up. I first found them on kijii, but like everyone else I was trying to find good reviews before i contacted them. I'm not sure if they'd let you pick up a single coin or not. 

They seem to specialize in silver and gold investments but i had to call them as it doesnt say anything on their web store about it. They are apparently launching an rrsp program they tried to convince me to invest in when i showed up to pick up my brick, the BEST THING about the purchase was that the CEO of the company gave me the brick when i arrived. 

Outside of the additional selling, they're prices and service is good. But im sticking to my physical stuff at least for this year. goodluck


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## Taxsaver (Jun 7, 2009)

johnmaters said:


> I'm really surprised you guys haven't heard of www.cachemetals.com/store. I've purchased from 3 online stores before i found them this year including buyign on ebay. The great thing about Cache is that they are local to TORONTO on yonge streets and eglinton and they will allow you to take physical possession of the bars or coins but u have to call them.
> 
> I bought a 100 oz silver bar from them 2 weeks ago and saved myself a lot of money on shipping by picking it up. I first found them on kijii, but like everyone else I was trying to find good reviews before i contacted them. I'm not sure if they'd let you pick up a single coin or not.
> 
> ...


Johmmatters, I'm now ready to buy my first purchase of silver. I will buy at the place you mentionned. I will avoid the shipping and insurance fees, and the agony of the package that never arrives  when you order it by mail. I don't want the UPS coming to the wrong time all the times. 

I will buy a 50oz silver bar and a 1oz gold coin. My goal is to keep them for the long term. I don't care too much about fluctuations. With the relatively low amount I purchase, even having it stolen from me won't steal any sleep from me.


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## Taxsaver (Jun 7, 2009)

davext said:


> So do most people declare capital gains after selling gold and silver?


I think that once you have decided if you want to declare either capital gains or incomes, you have to stick to it.


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## kid5022 (Nov 14, 2010)

ramy98 said:


> I buy Physical bullion from www.firstmajestic.com
> 
> Been thinking of making another order for myself...
> 
> ...


hey ramy98
any chance we can buy it at cad instead of usd?


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## Pandorassilver (Jun 17, 2011)

*gta silver*

Just wondering where everyone buys silver in the Toronto area


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## I'm Howard (Oct 13, 2010)

I'd rather Buy the ETF's, much easier to sell and no risk of losing them.

My Buddy has over ten Maple Leaf's, won as Sales Awards when Gold was $500 an ounce, has hid them so well he can't find them.

Really believe in Silver, Buy a long term Option on SLV, limits your risk.


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## ChrisR (Jul 13, 2009)

Taxsaver said:


> A video to see about Nova Scotia Bank's silver vault:
> 
> http://www.youtube.com/watch?v=DNSakO8Z11o


Did you seriously just sucker me into watching a 911 conspiracy clip?


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## DonOne (Dec 26, 2011)

davext said:


> This might be a dumb question. When you buy silver/gold is it registered so that when you sell it, you'd have capital gains or losses?
> 
> My parents have some silver bars in a safety deposit box and asked me if we should sell them. I think it's a time to hold them right now.
> 
> I have been buying SLV in the money call options. That might be better than holding physical silver? it's working for me so far.


Both selling options and physical you have to pay tax on capitals gains, however, for physical, you only have to pay tax on what you report


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