Precious Metals Academy
Sourcing Guide: Where to Buy Gold & Silver
A practical guide to buying gold and silver in Canada, the United States, and internationally — dealer tiers, pricing factors, and red flags to avoid.
In short
- The premium you pay over spot price varies significantly by source — sometimes 5–15% on silver between the cheapest and most expensive channel. Comparing dealers before every purchase matters.
- For Canadian buyers, the top online dealers are Kitco and SilverGoldBull.ca. For US buyers, APMEX, JM Bullion, and SD Bullion are the dominant reputable options.
- As of September 2026, TD and CIBC sell physical bullion bars and coins to retail clients, while BMO and RBC offer bullion through their wealth-management divisions. Bank premiums are generally higher, and offerings change — verify current availability.
- Red flags: prices materially below current melt value, no published buyback policy, pressure to buy numismatic or collectible coins, and dealers without a verifiable physical address.
Knowing what to buy is only half the equation. Knowing where to buy it — and at what cost — determines how much the spot price needs to move before you actually profit. This guide answers the question every new precious metals investor eventually asks: "Where do I actually buy this?" It covers the major sourcing channels for Canadian and US buyers, how to compare all-in costs, and the red flags that separate reputable dealers from problematic ones.
Every precious metals purchase involves two costs: the spot price of the metal and the premium charged above spot. The spot price is set by global commodity markets and is the same regardless of where you buy. The premium is where sourcing decisions make a real difference.
For where that spot price comes from, London’s twice-daily auction, New York’s gold futures and Shanghai’s benchmark in yuan, see our article on who sets the price of gold. It also explains why the price on a dealer’s screen is none of the three.