Buying gold in Ontario
Investment-grade gold (gold of at least 99.5% purity, in bars, wafers or coins) is exempt from GST/HST everywhere in Canada. In Ontario, jewellery and other taxable gold items carry 13% 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 Ontario is tax, explained below.
Sales tax on gold in Ontario
HST follows the federal rule, so investment-grade bullion is exempt from the full 13% 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 Ontario these carry 13% 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 Ontario
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 Ontario's, at your provincial marginal rate. Sales tax does not apply when you sell bullion to a dealer.
Gold in Ontario
The Royal Canadian Mint's head office and refinery are in Ottawa, where it makes Gold Maple Leaf and Silver Maple Leaf bullion coins and has a public boutique. Ontario is Canada's largest gold-producing province, with major mining camps around Timmins, Red Lake, Kirkland Lake and Hemlo.
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 Toronto and Ottawa.
Selling gold or jewellery to a dealer in Ontario
- Licence: Licensing is municipal. Toronto licenses 'dealers in old gold and precious metals and jewellery' and pawnbrokers under Municipal Code Chapter 545 (Licensing). Ottawa licenses pawnbrokers and second-hand goods shops under Schedule 14 of Licensing By-law 2002-189.
- Hold period: Hold periods are set by each municipality's by-law. Example: Thunder Bay By-law PC8-2005 requires second-hand goods (including gold, silver and platinum items and jewellery) to be held for 30 days, unaltered and not melted, before sale; police may impose an investigative hold of up to 60 days. Toronto and Ottawa periods not confirmed.
- What the dealer records: Example (Thunder Bay): register of each transaction (date and time, seller details, description with serial numbers and marks, price, employee); records to police within 3 business days; larger dealers (100+ transactions a year) use an approved electronic reporting system and photograph sellers.
- What sellers need: Example (Thunder Bay): valid photo ID such as a driver's licence or passport; no dealings with sellers under 18 or who appear intoxicated.
- Who is exempt: Example (Thunder Bay): antique, auction, consignment and flea-market dealers, charity sales, garage and estate sales, and dealers only in books, clothing or large appliances.
- Jewellers: No province-wide licence for jewellers was found; Toronto's Chapter 545 has a specific licence class for dealers in old gold, precious metals and jewellery (Toronto By-law 1515-2019 also bars them from advertising on City property).
- The law: Pawnbrokers Act, R.S.O. 1990, c. P.6 (provincial; Ottawa noted its expected repeal but no repeal date had been set), plus municipal licensing by-laws.
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.