Not only do we buy your old gold, but we also sell it in bullion form. Learn more about investing in gold bullion in Canada in this short video.
Stirling: and you also by the way Greg; sell gold and silver coins in bars and such, it’s not all your … it’s a two-way street as far as Vancouver Gold is concerned. You buy gold and a lot of it and other precious metals but you also sell it.
Greg: Sure, yeah – with the price of gold on its trajectory, lots of people becoming interested in investing in is well on they say you know if it’s going to keep on going up then … maybe it’s a good investment so we do sell it uh… in bullion form and coin so that the maple Canadian maple leafs that you mentioned … people can buy gold bars and silver as well, lots of people are investing in silver nowadays.
Stirling: There’s an interesting tax issue, attached to buying gold, Charlie. If you buy one hundred percent pure gold like a Canadian maple leaf gold coin, it’s not taxable. If you buy an American gold coin, well of an ounce it’s taxable. Why? Is it because it’s foreign or because the gold content?
Charlie: Yeah, first of all that’s just sales tax, you’re still capital gains tax can still be, you know, assessed on those pieces.
Stirling: .. at the point of sale
Charlie: Exactly, yeah. Anything in Canada, anything less than ninety nine point five percent pure is subject to sales tax. So that includes jewelry and that’s the main reason, so people can’t get around that tax but it just so happens that a lot of these other kind of investment coins like the American eagle coin.
Stirling: .. and the Krugerrand – South Africa, right yeah?
Charlie: Those ones they are twenty two karat or ninety one percent pure, so they would be subject to sales tax. It’s not just that it’s American; you can buy American coins the American buffalo is that a pure gold American coin, so you can buy that here as well. We don’t see anywhere near as many of those as the Maple Leafs. So the pure gold bars and coins are what you what we would definitely recommend for investing in gold.
Stirling:.. and the better business bureau again; more stuff that I’ve cribbed from your website, the best better business bureau says be smart about this. Keep up with the prices. Know, at least have a feeling for what today’s prices are, when you walk in today so that you’re not alien to the process.