April 25, 2023


How to Buy Gold in Canada

Buying gold has been a popular choice for centuries due to its stability and value. Gold is considered a safe haven product that can protect against inflation and economic uncertainty. With the increase in technology, buying gold has become easier and more accessible. This article will provide a comprehensive guide for those wondering “how do I buy gold in Canada?”.

Why Consider Purchasing Physical Gold in Canada?

Purchasing gold is a popular choice because gold has been considered a valuable commodity for centuries. It has a long history of maintaining its value, even during economic downturns. It is often seen as a safe-haven purchase because it can provide a hedge against inflation and other economic uncertainties. Additionally, gold is a finite resource, which means its supply is limited, adding to its value.

It has been used as currency, jewelry, and decorative art. Gold is also used in technology, such as smartphones and computers. The price of gold has fluctuated throughout history, but it has maintained its value overall. In recent years, gold prices have continued to rise, making it an attractive option.

Before you buy gold, it is important to understand the gold market and your options for acquiring physical gold. The gold market is complex and affected by various factors, such as global economic conditions, geopolitical events, and supply and demand. Understanding these factors can help buyers make informed decisions about purchasing and selling gold.

Types of Physical Gold 

Bullion bars

Bullion bars are the most common form of physical gold. They come in various sizes, ranging from one gram to one kilogram. Bullion bars are produced by private mints and government mints and are sold at a premium above the spot price of gold.


Gold coins are another form of physical gold. They are produced by government mints and come in various sizes and denominations. Gold coins can be bought and sold easily and are highly liquid.

Paper gold products


Exchange-traded funds (ETFs) are a type of paper gold. They are funds that buy gold bullion and trade like stocks on the stock exchange. ETFs offer buyers exposure to the price of gold without the need to store physical gold.

Futures contracts

Futures contracts are agreements to buy or sell gold at a predetermined price at a future date. They are used by buyers to hedge against price fluctuations in the gold market.

Things to Consider Before Buying Physical Gold in Canada

Before purchasing gold, buyers should consider their financial goals. Are they looking for a short-term or long-term purchase? Are they looking for a safe-haven or a speculative purchase?

Make gold purchases also carries some risk, such as fluctuations in the price of gold and the potential for fraud. Buyers should consider their risk tolerance before making a final decision, and always buy through reputable businesses like Matador who store your gold with the most secure facilities. 

Physical gold can sometimes be expensive, and buyers should ensure they have enough funds to cover the purchase and any associated fees.

Where Can I Buy Gold Bars in Canada?

Buyers can get gold bars in Canada from various dealers, including online dealers and local coin shops. It is important to research dealers before making a purchase and ensure they are reputable and accredited. Buyers should also compare prices between dealers to ensure they are getting a fair price for their purchase. However, the traditional model of purchasing gold is outdated, which is why a new generation of gold buying apps like Matador has revolutionized the process, making it easier than ever to buy gold right from your smartphone. These apps are a good first step for gold buyers looking for security, convenience, and the best prices on the market.

Benefits of Buying Physical Gold

Purchasing physical gold offers several benefits, including:

Tangible Asset - Physical gold is a tangible asset that Buyers can hold and store. It is not subject to the same risks as paper investments and can provide a sense of security.

Hedge Against Inflation - Gold has historically maintained its value during times of inflation. Buying physical gold can provide a hedge against inflation and help protect the value of a portfolio.

Diversification - Adding physical gold to a portfolio can provide diversification and reduce risk. It can help balance out the volatility of other options.

Store of Value - Gold is a store of value that can be passed down through generations. It has maintained its value over time and can provide a long-term value opportunity.

Understanding Gold Purity and Measurements

Gold purity is measured in karats (K), with 24-karat gold being the purest form, containing 99.9% gold. Gold is often alloyed with other metals to increase its durability, resulting in various karat ratings such as 18K, 14K, and 10K.

In terms of measurements, gold is commonly weighed in grams (g), ounces (oz), and troy ounces (ozt). A troy ounce, the most commonly used measurement in the gold market, is approximately 31.1 grams. Knowing these measurements and purity levels will help you make more informed decisions when buying physical gold in Canada.

Insuring Your Gold Purchases

Insurance is crucial when buying gold in Canada, as it protects your assets against theft, damage, or loss. Depending on your storage choice, insurance coverage may be provided by the storage facility or require a separate policy. It is important to understand your coverage options and ensure you have adequate protection for your gold purchases. When using the Matador app, your gold is safely stored at the Royal Canadian Mint, which includes insurance coverage for added peace of mind.

Selling Your Gold in Canada

When it comes time to sell your gold in Canada, finding a reputable dealer is essential. Research various dealers and compare their buyback prices to ensure you receive a fair price for your gold. The selling process typically involves providing proof of purchase, verifying the gold's authenticity, and agreeing on a price. The Matador app simplifies the selling process more than any other option, allowing you to sell your gold quickly and easily while ensuring a fair and competitive price.

Gold vs. Other Precious Metals

While gold is a popular choice when purchasing precious metals, it's essential to consider other precious metals like silver, platinum, and palladium. Each metal has its unique properties, historical performance, and market trends. Diversifying your precious metal purchases can help reduce risk and potentially offer additional growth opportunities. Research each metal's market conditions and weigh their potential against your financial goals and risk tolerance.

How to Safely Store Physical Gold

Storing physical gold securely is vital to protect your purchase. There are several storage options available, each with its pros and cons:

Home storage: Storing gold at home offers immediate access, but it may not be the safest option. If choosing this method, invest in a high-quality safe and avoid sharing its location with others.

Safe deposit box: A safe deposit box at a bank offers increased security but may have limited access hours. Additionally, insurance coverage may not be included and could require a separate policy.

Private vaults: These facilities specialize in storing precious metals and often provide insurance coverage. While this option offers high security, it can be more expensive than other methods.

Storage at the Royal Canadian Mint: When buying gold through the Matador app, your gold is stored securely at the Royal Canadian Mint, offering top-tier security and insurance coverage.

Buy Gold With the Matador App

If all of this sounds complicated, that’s because, in the past, it has been. That’s where Matador, the future of hassle-free gold buying comes in!

Say goodbye to the old-fashioned process of buying gold, with its long shipping times, expensive storage fees, and illiquid selling processes. With Matador, you can easily purchase gold straight from your smartphone, starting with a minimum purchase of just 1g.

Your gold is stored safely and securely at the Royal Canadian Mint, eliminating transportation and storage concerns. Alternatively, if you prefer to have your gold in hand, we can ship it directly to your doorstep with just a click of a button.

Don't miss out on the future of gold buying - join our waitlist or download the app today!

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