You can order any gold bars or coin at most Canadian bank branches. They are 999 pure gold from the Royal Mint. If you bank at RBC, they sell the Gold bars at any branches based on the market price that day plus commission, which is about 10 to 15 dollars with shipping (less than $10) to the branch. Usually it takes less than 5 business days to arrive.
If you are also interested in Maple Leaf Gold coins, you would have more choices in terms of weight and value, but for the gold bars, the minimum would be 1oz.
It would also be the same for Silver coins and bars as well.
Hey does anyone know anything about buying gold or silver boullion? I am thinking small 1 oz bars would make nice gifts for my grandkids and such. When a bar comes from the Candian Mint, does it have a fixed price or is the price subject to the fluctuations of the gold on the market?
If you do go to main branch, I would convert your Canadian $ to US$ at any other bank before you go to Scotia . If you pay by Canadian $ at Scotia the exchange rate they used is very high.
Let me knew if you find a better price. I have bought gold from them. I am not a gold bug, but,I put about two percent of my savings in gold bars which I store in a safety deposit box.
Good call. Precious metal has a caché that regular bank notes can't compete with, even a crisp new $100 bill. It's always more memorable than money.
It also allows the recipient to refer to her stash of gold bars. The maniacal laugh is optional.
There are apps you can download that display the up to minute price of gold, silver, etc...
A few years ago I gave a small gold coin as a gift together with a trillion dollar bank note from Zimbabwe. Inside the card I wrote 'Don't depend on paper money.'
I think it was a good gift, not to mention an real life example of the perils of fiat currency.
I've heard of other people buying a sheet of silver coins (25/sheet?) for their kids or grand kids, and then giving one coin each year until there's none left.
Jack if you can afford it I'd purchase coins for them such as Sovereigns, Louis d'or, Napoleons, Rubles, Florins or Ducats or smaller denomination silver coins. Coins have history, artistic design, a track record of value, in some cases a face value and of course the value of the metal itself which is but a fraction of the real value.
Hey does anyone know anything about buying gold or silver boullion? I am thinking small 1 oz bars would make nice gifts for my grandkids and such. When a bar comes from the Candian Mint, does it have a fixed price or is the price subject to the fluctuations of the gold on the market?
I'm a bit late on this, but if I may make a suggestion, an oz of gold is about $1200 at today's market value. With basic anecdotal information (read, I'm not an expert), I imagine gold prices won't be rising anytime soon, and I feel that it's still on the high side of things.
For a long term gift that keeps on giving, an idea would be to invest the same money in their name, and let it grow. Let them have access to it when they turn a certain age. It's a gift that will help them immensely in the long run.
But if your heart is set on precious metals, and you're just going for a tangible gift, then the Royal Canadian Mint has some excellent coins. It does charge well above the market rate for the price of precious metal, but if the gift recipient has any particular interest, you could tailor your coin purchase to that.
You can also purchase gold in person at the Scotia Bank main branch at King and Bay. You get a better rate when you go in person and this is what I do. Remember to bring the proper photo ID that they need.
I personally don't think gold is an investment. I think it is a necessary hedge if the banking system seizes up for a few days or a few weeks. Low risk in Canada for sure but still, it could happen.
