FAQ

How can I sell gold and other precious metals to Coastal Treasures?
Clients can contact Coastal Treasures to initiate the selling process, where they can arrange to either deliver the metals in person or ship them to us. For shipping, clients can choose to use their own method or take advantage of Coastal Treasures’ secure and insured service. The shipping cost will depend on the weight and value of the items being sold. For more details, please refer to our “How to Sell to Coastal Treasures” services section.

What currencies do you accept and issue for payment?
Coastal Treasures accepts both Canadian and US currencies but issues payment only in Canadian Dollars.

Do I have to pay any sales tax, GST, or HST?
There is no sales tax on pure gold, silver, or platinum if the coin’s purity is greater than 0.995. However, applicable taxes will be required for other items such as copper, junk silver, collectables, supplies, or merchandise.

Who sets the price of gold?
The price of gold is determined by the London gold fix, which happens twice a day on the London bullion market. This fix is established by 15 financial institutions that balance their gold positions, producing a standardized gold price.

What is the Spot Market Price?
The spot price represents the current market price per ounce for gold or silver contracts traded electronically over the counter on exchanges around the world.

Why are silver and gold considered hard assets?
Silver and gold are regarded as hard assets because they are tangible, recognized stores of wealth that can be easily transferred and transported.

How do I know the precious metals I purchase from Coastal Treasures are genuine?
Coastal Treasures has longstanding relationships with reputable mints, such as the Royal Canadian Mint. Most of our products come directly from government mints or trusted refiners. Any items bought over the counter are thoroughly inspected, tested, and verified for purity, authenticity, and quality.

Do I pay taxes when buying gold or silver?
In Canada, gold and silver purchases are tax-exempt. In the USA, tax regulations for precious metals vary by state. Please consult local tax laws before purchasing.

What is the difference between a refinery and a mint?
Both refineries and mints provide bullion to the market. A mint is typically the bullion production arm of a government, while a refinery is a large company that manufactures bullion. As long as they are on the LBMA Good Delivery List, their products are recognized by dealers worldwide and fetch fair market prices.

What is the LBMA Good Delivery List?
The LBMA Good Delivery List includes refiners whose bars meet the high standards required for trading in the global OTC market. These standards ensure the products’ quality and marketability.

Why should I buy from Coastal Treasures?
As one of Canada’s leading precious metals dealers, Coastal Treasures is known for transparency and exceptional service. We are committed to offering competitive prices, fast shipping, and personalized service. Our reputation has made us one of the largest distributors in Canada.

What does Fair, Firm, Fast, and Friendly Service mean to Coastal Treasures?
(Coastal Treasures can explain its approach to customer service here.)

What does Coastal Treasures do to give back to the local community?
(This section can detail the company’s community involvement and charitable activities.)

Why is there a difference between the buying and selling price?
The difference between the buying and selling price, known as “the spread,” reflects the liquidity of the asset. Buy and sell prices are set by the market, which consists of many buyers and sellers.

What are premiums, and how are they calculated?
Premiums are the additional costs over the spot price when buying bullion. They cover factors such as mining, refining, shipping, and the economies of scale involved in producing physical ounces of precious metals.

What does Coastal Treasures do with customer information?
Customer information is kept strictly confidential and used only for marketing and communication with Coastal Treasures and other affiliated companies. We do not share or distribute client information unless legally required.