Hey folks, I just made my first bullion purchase today from a dealer in my home town, north of the border. I paid $2.75 CAD over spot for some 1 oz Scottsdale bars, which is okay. I'd like to explore deals online, but everywhere I look I see that shipping is an extra $20 bucks unless you buy a huge bulk order (ex. silvergoldbull) Have any Canadians had any luck with online distributors? Also, I'm sure there is a small amount of risk buying from a local dealer (i.e. it being fake), any tips on making sure I'm buying the real stuff?
The only way to make buying online worth it is if you order a large amount. See if you know other people in your city that also like collecting silver, maybe splitting with them to share the shipping cost. That's how I do it, I usually join in on with someone else orders and share the shipping fee. There is always a risk when come to purchasing item online (u.s or Canada). Not too long ago, Precious metal house in Toronto gone under and quite a few people lost their money. As for fake or not, I would assume buying from big company would lessen the chance of it being fake. They have a reputation to keep after all and you can chase after them if you discover they are fake. It certainly safer than buying from ebay. If you are near the boarder, have you explore the option of renting a mail box in nearby u.s city or town?
Thanks for the reply. I like the idea of splitting the shipping cost with a friend. If I do the mailbox thing, Id factor in gas money which could jack up the price.
Most of those mail box cost nothing until there's package coming in. Obviously, if you were to do that, you might as well go over there to do some shopping as well to make the trip worth while.
Nevermind, Groucho, a bullion dealer in the area just opened up in the last few weeks! Only just heard about it last night.
I think the best way for Canadian buyers is to buy your own pre-1967 coins. I have got a lot of 80% silver canadian coins at near spot. What's the matter with that? I have even found earlier dated 92.5% for less than spot! Maybe it's just because I live just below the border and nobody knows how much Canadian silver is worth, but I don't think so. I would love to buy more if I could find it. My latest obsession is Newfie coinage, but it's hard to find. If I was trying to bulk up my silver I would buy bags of Canadian "junk silver".
Another thing about pre-67 Canadian silver is that it most likely not counterfeited, since it's not worth much more than its silver value unless it is something special.
