New Collector To Bullion (Canada) - Coin Community Forum

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Author	Replies: 5 / Views: 1,704
Prevalent New Member Canada 26 Posts	Posted 04/21/2014 8:43 pm Hi everyone, I've been a collector of NCLT but I am interested in collecting bullion as well. I just want to ask what's the best way to start if I don't want to buy great quantities each time? Lots of vendors I see sell to US addresses only. For Canadian vendors, most start shipping at $20 per order so it's not really economical if I'm buying < 10 eachtime. I've looked the the following alternatives: 1. Big 5 Banks: It seems this requires a minimum purchase of 25 coins and that's a bit steep unless I do a group buy. Furthermore, the pricing seems to vary based on spot so I don't have prices to compare. 2. APMEX: The prices here look decent (e.g about 1.99 above spot) but it appears Canadians cannot pay by Credit Card. 3. Canadian Bullion Services/Silver Gold Bull: Good prices but minimum shipping $20 per order. 4. Other Vendors: I'm struggling with finding vendors that sell bullion and quote prices. I came upon Colonial Acres, but the SML is about $26 for the basic versions. However, many years seem out of stock. This price seems quite a bit above spot but I cannot compare until I visit to see what pricing the banks offer. Basically, I was wondering which would likely be the best option if I'm buying low quantities? I don't mind purchasing large quantities of SML but I'd likely only want 1-2 of bullion coins from other countries (e.g. US Eagle seems to be about $28 at CA). Thanks Edited by Prevalent 04/21/2014 9:05 pm Report this Post to the Staff

Fusion555 Valued Member United States 269 Posts	Posted 04/21/2014 9:17 pm There are quite a few bigger dealers who ship to canada, MCM is one that comes to mind, problem is your saying you want to pay by CC? always a premium paying that way, good rates on bank wire and some will accept checks at a better rate. Check out paying by xoom, they have reasonable bank to bank rates Im sure some of our Canadian members will give some good advice also Report this Post to the Staff
cderksen Valued Member Canada 95 Posts	Posted 04/21/2014 10:23 pm I have found that that silver at banks are over priced, I believe if you buy 5oz from the bank, you could probably pay 20 bucks for shipping, anything over 5 oz and you start saving money. Also, I live an hour away from Winnipeg. Gatewest coins is where I go, 24.44 per oz right now, also see my daughter and get to go shopping. If I had no reasons to go to the city, 20 dollars would be a deal for shipping, since I easily pay that for gas. Hope this helps. Report this Post to the Staff
Libertad Pillar of the Community Canada 3692 Posts	Posted 04/21/2014 11:35 pm Pay cash, buy local, bike there if you can. Find someone with whom to trade country for country, mint for mint. Report this Post to the Staff
traevin Pillar of the Community United States 1454 Posts	Posted 04/22/2014 01:48 am I'm a US citizen but I've spent quite a bit of cash on Colonial Acres' coins. They always had good prices and fair shipping fees when I was buying regularly. That was over four years ago, so maybe things have changed. As Lib said, if you can find a LCS, you're golden. Even if you have to travel to a nearby city, it may be worth it. Just call first and get some quotes. They'll tell you prices change daily with market fluctuations but you'll at least get a general idea whether or not the dealers are ripoff artists. ebay Canada, I would think, would also be a good source for bullion. I assume you've checked already, so you'd probably know more than I would. If the deals don't look so palatable today, maybe a little patience will pay off and you'll come across a reputable vendor offering fair prices. After you get so many posts (I don't remember the number) and are a member for so many days, you can also buy and sell coins to other members. If you're new to the game and don't already know this, get a strong magnet and vet every coin you buy. Report this Post to the Staff
AgCoinAu Pillar of the Community Canada 3049 Posts	Posted 04/23/2014 12:28 am I too am in winnipeg and even with Gatewest in my back yard you can still find better deals occasionally... It all depends on what you're looking for and where you're located. There are some coins and rounds offered in the states that it's just a hassle to ship across the border... so for that I have a U.S. address and U.S. account I use for that.. (RBC offers a pretty good service for that now though I haven't checked it out) If you're buying in small quantities I can see that $20 shipping can really eat up the powder.. so my best suggestion is depending on where you live be as resourceful as you can... I know a fella in Swift Current... when I was on my bike tour across the prairies he asked me to stop by and drop off some coins for him.. I was happy to do that for him... I would advise against using the banks to buy bullion... that can really get expensive.. I would also suggest you look on e-bay but be careful... there's some fakes and there's a lot of costs with ebay... I would highly recommend you look into some large coin dealers here in canada... some of the shipping is pretty reasonable.... Good luck and if there's any way I can help please let me know Report this Post to the Staff
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