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Thread: Where to Buy Bullion in Canada
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Sat, May 4th, 2013, 09:21 PM #1
So I've started to buy some silver bullion as a hedge against inflation, and as a fun alternative way to putting all my cash into RRSPs.
Unfortunately my local gold & silver store charges way too much over spot. All the online dealers I've found charge far too much for shipping. And importing it across the border has been a pain. Anyone know where i can order some online at a decent cost?This thread is currently associated with: N/A
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Sun, May 12th, 2013, 01:59 AM #2
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check this https://www.store.firstmajestic.com/
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Mon, May 13th, 2013, 02:10 PM #3
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you can go to your bank/any bank and tell the teller that you would like to buy however many ounces. they have it shipped into the branch and then you pick it up, pay going rate + I think $35 charge for "armored vehicle" to drive it to the bank.
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Mon, May 13th, 2013, 10:58 PM #4
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lol @ it being an inflation hedge
Not a bad investment, as long as it makes up less than 10-15% of your portfolio.. Otherwise it's a very bad idea.Last edited by GoStumpy; Mon, May 13th, 2013 at 11:04 PM.
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Wed, May 29th, 2013, 03:17 PM #5
The key is to obviously not deal with dealers. Banks are dealers as well. So run Wanted ads for silver coins and learn how much things are worth. You need to find sellers that are hard up for cash and offer them a little more than the dealer would. You'll save most of the spread as they can't wait for a better deal and you can so you can just walk away if they won't come down to your price
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Fri, May 31st, 2013, 05:49 PM #6
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There are three major issues with purchasing bullion
1. Selling the gold or silver will prove hard and dealers will low ball you to try to get the best price
Think about this, banks won't buy it from you, and you will have to deal with people who want to give you a low price so that they can sell it high. Are you really going to post bullion on Kijiji and have a stranger show up to buy/steal it from you?
2. Prices for gold and silver are a roller coaster right now, you are better off purchasing gold stock and silver stock, this way you can sell the shares right away and not left holding bullion at home.
3. Where are you going to store this bullion? At your home? Bank? In a box, in the ground in your back yard?
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Tue, Jun 4th, 2013, 10:57 PM #7
I have thought about using bullion against inflation as well, but storage is a bit of issue because I am always worrying about it if I am storing them at home, and if I store them in the bank, then I have to pay then there is the cost (inflation). How about just buying jewlery (glod and sliver) from overseas if you have a good place to store them.
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Tue, Jun 4th, 2013, 10:59 PM #8GET $5 OFF Herbal and Nutritional Items Coupon Code: XIF785 http://www.iherb.com Low shipping charges to Canada Save about 30-40% Off retail prices. 14,000+Brand-Name Herbal & Nutritional Items Pay No TAX on items!
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Fri, Dec 8th, 2017, 02:08 PM #9
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An interesting discussion with a number of good questions - most of them are no longer an issue since you can buy and sell precious metals online, have your holdings stored in a vault and follow the price in a number of currencies real-time so you know when to put on your trades and get alerted automatically.
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Sat, Dec 9th, 2017, 07:58 AM #10
Ya I have my holdings in a TFSA through BMO. They sell physical Gold and Silver that allows you the option to have it shipped to you if you want at an extra cost $3 a ounce for silver, but I can't remember the cost for Gold.
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Wed, Jan 3rd, 2018, 04:53 PM #11
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Tue, May 1st, 2018, 03:33 PM #12
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