British Columbia

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Buying Gold and Silver in British Columbia

Gold was first discovered in British Columbia in 1858 and led to both one of Canada’s principal gold rushes and ultimately to the transformation of the area from a wilderness to the wealthy and cosmopolitan province it is now.

British Columbia is home to vast gold mines taking hundreds of tonnes of gold from the ground – and is a region where prospectors still flock to exploit the provinces rich lode and placer deposits.

buying gold in british columbia

It must be said the majority of precious metal investors prefer an easier retail route to gold, rather than the dangerous and back-breaking work of a gold miner. Thankfully buying gold in British Columbia is easy, due to a good spread of local gold silver bullion and coin dealers across the province in addition to the growing selection of national bullion dealers operating in Canada.

Buying from British Columbia Gold Dealers

Due to the high purchase price of gold and silver buying investment bullion from gold dealers in British Columbia should be undertaken with care, and a degree of due diligence, especially when buying for the first time.

Investigate the dealer’s reputation online if possible, reading reviews either here or at other general business review websites, such as the BC Better Business Bureau. Examine consumer protection advice at Consumer Protection BC – and examine listings or request advice from the British Columbia Chamber of Commerce – you may be surprised at what you can find out.

Finally, after you’ve completed your purchase please add to our British Columbia gold dealer reviews, by rating and reviewing your chosen company above – this will help future investors best select a BC gold dealer suited to their needs.

Are Bullion Sales Taxed in British Columbia?bullion sale tax

Most precious metal bullion in Canada is exempt from GST/HST provided the precious metals are defined as bars, ingots, coins or wafers of gold, silver or platinum, refined to a minimum purity of 99.50% for gold and platinum, or 99.9% for silver.

Note that palladium products ARE subject to HST/GST.

For bullion and coins that fall outside of these purities, British Columbia charges HST at 12% (one of the highest in Canada) however there is no PST on bullion in British Columbia.

Bullion and coins are liable to Capital Gains Tax within British Columbia as they are across Canada, subject to Personal-Use Property exemptions. Listed Personal Property (LPP) rules state that coins with a resale value and gain of $1000 or less are exempt from a capital gain.

Have we missed out a gold dealer in British Columbia? Do you run an unlisted company? Please request we add it here – All standard listings are 100% free!

IMPORTANT: The above tax details are listed for information purposes only and are believed correct at time of publication. Bullion.Directory are not tax experts. All enquiries about national and provincial taxes should be addressed to the appropriate local body. Taxes and taxation are subject to change.

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