Buying gold in Quebec
Investment-grade gold (gold of at least 99.5% purity, in bars, wafers or coins) is exempt from GST/HST everywhere in Canada. In Quebec, jewellery and other taxable gold items carry 5% GST plus 9.975% QST (14.975% in total).
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 Quebec is tax, explained below.
Sales tax on gold in Quebec
The Quebec sales tax (QST) mirrors the federal rule: gold of at least 99.5% and silver of at least 99.9% purity are exempt from both GST and QST, and other products are charged 5% GST plus 9.975% QST.
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 Quebec these carry 5% GST plus 9.975% QST (14.975% in total), 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 Quebec
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 Quebec's, at your provincial marginal rate. Sales tax does not apply when you sell bullion to a dealer.
Gold in Quebec
Quebec is Canada's second-largest gold producer, with most mines in the Abitibi region around Val-d'Or and Rouyn-Noranda.
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 Montreal and Quebec City.
Selling gold or jewellery to a dealer in Quebec
- Licence: Licensing is municipal. Example: Saguenay requires a permit (certificate of occupancy) for pawnbrokers, second-hand goods dealers and bric-à-brac dealers, and its regulation expressly covers dealers in jewellery, precious stones and metals.
- Hold period: Saguenay's regulation sets no hold period before resale or melting; other cities (e.g. Montréal, Laval) not checked.
- What the dealer records: Saguenay: a numbered register in ink or electronic form (description, model, serial number; seller's name, address, occupation and date of birth), kept at least two years; a monthly list of goods received goes to the police service by the 15th.
- What sellers need: Saguenay: photo ID required; no purchases from minors without written, authenticated parental authorisation.
- Who is exempt: Saguenay: second-hand clothing shops, non-profit and charitable organisations, and office-equipment dealers buying from the trade.
- Jewellers: Saguenay's regulation names dealers in jewellery, precious stones and metals as covered businesses.
- The law: Municipal regulations, e.g. Ville de Saguenay Règlement VS-R-2011-43 (in force 11 October 2011). No provincial dealer act identified.
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.