Buying gold in Newfoundland and Labrador
Investment-grade gold (gold of at least 99.5% purity, in bars, wafers or coins) is exempt from GST/HST everywhere in Canada. In Newfoundland and Labrador, jewellery and other taxable gold items carry 15% HST.
Gold has one national spot price in Canadian dollars: the prices on this page are the same as on the gold price in Canada page. What differs in Newfoundland and Labrador is tax, explained below.
Sales tax on gold in Newfoundland and Labrador
HST follows the federal rule, so investment-grade bullion is exempt from the full 15% HST.
Taxable everywhere: 22K coins such as Krugerrands and American Gold Eagles, collector coins sold above their metal value and all karat gold below 24K, and gold jewellery. In Newfoundland and Labrador these carry 15% HST, charged on the full price including the making charge or premium.
The federal rule
Under the federal Excise Tax Act, gold and platinum of at least 99.5% purity and silver of at least 99.9% purity, in bars, ingots, wafers or coins, are "precious metals" and are exempt from GST/HST. Coins below that purity (for example 22K Krugerrands and American Gold Eagles, or 90% silver coins), collector coins sold above metal value, sterling silver and all jewellery are taxable.
Tax when you sell gold in Newfoundland and Labrador
When you sell, the CRA usually treats a profit on bullion held as an investment as a capital gain: half of the gain is added to your income and taxed at your federal and provincial rates (the 2024 proposal to raise the inclusion rate to two-thirds was cancelled in March 2025). Frequent trading can make profits fully taxable business income. The provincial part of your income tax is Newfoundland and Labrador's, at your provincial marginal rate. Sales tax does not apply when you sell bullion to a dealer.
Gold in Newfoundland and Labrador
Newfoundland has gold mining in central Newfoundland, including the Valentine gold mine.
Buying and selling
Dealers in precious metals and stones must verify your identity for purchases of $10,000 or more and report cash transactions of $10,000 or more to FINTRAC. Dealers sell Maple Leafs and bars at a premium over the spot price shown here and buy back a little under it. The main bullion dealers and jewellers in the province are in St. John's.
Selling gold or jewellery to a dealer in Newfoundland and Labrador
- Licence: No provincial licence for pawnbrokers, second-hand dealers or gold and silver buyers was found. The City of St. John's licence fee list has no licence for second-hand dealers, pawnbrokers or precious metal buyers. Its nearest item is a 'Transient Dealers Licence' at CAD 517.50 a year, which the page does not describe.
- Hold period: No provincial or St. John's hold period was found. The repealed Salvage Dealers Licensing Act used to require salvage dealers to keep goods unaltered for 7 days, but it no longer applies.
- The law: No provincial pawnbroker or second-hand dealer act was found. The province once had a Salvage Dealers Licensing Act, which covered dealers in scrap metal and 'second-hand, used, discarded or surplus' goods who ran a salvage yard, but it expressly excluded pawnbrokers. That Act was repealed in full by the Obsolete Acts Repeal Act in 2006. The 1990 revision of the statutes has no pawnbroker or second-hand dealer act, and no such title appears in the current alphabetical list as far as it could be read. No St. John's by-law on second-hand or pawn dealers was found.
Federal rules (FINTRAC): Dealers in precious metals and stones (DPMS) become reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act when they buy or sell precious metals, precious stones or jewellery worth CAD 10,000 or more in a single transaction. They must run a compliance programme (compliance officer, written policies, risk assessment, training, two-yearly effectiveness review) and verify client identity for large cash, large virtual currency and suspicious transactions.
Quality marks: Quality marking of gold, silver, platinum and palladium articles is voluntary, but any mark used must be truthful and meet the standards and tolerances in the Precious Metals Marking Act and Regulations.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.