About Canada Gold » FAQ

cash for gold in canada


Commonly asked gold buying/selling
questions answered here.

How much is my gold worth?

Canada Gold pays up to 98% of the melt value of your gold. This is much higher than most jewellery stores, pawn shops, infomercial gold buyers and online mail-in services, which typically offer only 20% – 60% of melt value. Our prices update daily and scale directly with the spot value of gold and silver. No extra charges or fees. What you see online is what we’ll pay in the store. Check today’s gold prices to see how much your gold is worth.

What kind of gold, silver and other precious metals does Canada Gold buy?

We buy gold, silver and platinum jewelry, dental gold, nuggets, silverware, coins, bullion, diamonds and more. If you’re unsure about an item or it’s broken/damaged, bring it in and check its value with our friendly staff.

How does the process work?

So simple! Just find your nearest Canada Gold location, make an appointment or walk right in without one. Our trained staff will test and weigh your gold and other precious metals in front of you, issue a receipt and pay on the spot. The process only takes about 15-30 minutes.

We also offer a FREE secure mail-in option. Click here to fill out your mailing address, and we will send you an insured GoldPack, with tracking included. Once we receive your GoldPack, we will issue payment the same day. We return any gold plated or magnetic items to you, free of charge.

Do I need to show identification to sell my gold?

Yes. By law, you must be at least 18 years of age and present one of the following: Driver’s License, Passport, Provincial ID, Citizenship, Indian Status Certificate, or Provincial Residence Card. At Canada Gold we respect your privacy and will not share your information with any third party outside of our organization. Your privacy is extremely important to us and we do all we can to earn and protect that trust.

Note: Stolen merchandise will never be considered. We will notify the police if we believe you are attempting to sell stolen goods. We keep detailed records of all transactions. You will be required to sign a form stating you are the lawful owner of the items you are selling, and that they are neither stolen nor the proceeds of crime.

How do I know I am getting the best deal?

To ensure you are getting the best price possible, Canada Gold has a 150% best price guarantee. If you find a price higher than ours, bring in the written estimate (on the same day), and we will beat it by 50% of the difference. After covering our refining, assay, and financing charges, our profit margin is very small–which means more money in your pocket.

How can I tell if my items are solid gold or gold plated?

Solid gold is usually stamped with the purity, and gold-plated items are stamped “GP”, “KP”, “HGE”, “RGP”, “GE”, or “GF”. Unfortunately we are unable to buy gold plated items as they contain very little gold. 

Can I use a magnet to test my jewellery?

Gold, silver and platinum are non-magnetic. Many gold-plated items have a core of nickel or iron, which is magnetic. Therefore a magnet can be used to determine if your item is nickel or iron, with a thin plating of gold. Please note: Some gold-plated items contain a brass core, which is not magnetic.

Do you buy gemstones? 

Yes, however diamonds are the only gemstones we purchase. All Canada Gold stores will buy diamonds under .25 carats. For anything higher than .25 carats, the Vancouver and Surrey stores in British Columbia have an on-site GIA Gemologist who is happy to offer you a free expert diamond evaluation–without any obligation.

If you would like to sell your gold but keep your gemstones, we will remove and return them to you.

Does Canada Gold sell gold, silver or diamonds?

Yes. You can buy gold and silver bullion, jewelry and diamonds at great prices at Canada Gold. Shop anytime at our eBay store, or find rare vintage jewelry and treasures at 100 Ways. Our Vancouver and North Vancouver stores also have in-store sales, just call ahead to check the inventory and your items will be ready for you on arrival. 

How are you different from a pawn shop?

By specializing in precious metals we are able to offer much higher payouts than pawn shops. We deal in larger amounts of gold which affords us the best available rates. We can tell you how much your gold is worth with more than 99.5% accuracy. Our expertly trained staff and gold testing equipment offer us the confidence to pay out the highest prices in the industry.

How do I spot a scam?

Unfortunately, the gold buying industry is a popular target for con artists (both buying and selling gold). Be wary of any gold buyer who offers unreasonably high prices online or over the phone. If a gold buyer is insistent on concealing their testing methods or payout procedure you should approach their business with caution.