Buy Silver Coins in Toronto - What you really need to know!

Buy Silver Coins in Toronto - What you really need to know!

So you live in Toronto (or anywhere in Canada really), and you either want to know the best place to buy silver coins in Toronto and or you also want to know what the best silver coin is to buy

Obviously, we believe the best place to buy silver coins in Toronto is here at 401Gold.ca or Troy.ca and you can check out the huge number of 5 star reviews we have on Google.

We can ship anywhere in Canada, or you can come and visit us in our store conveniently located near the 401 and 404, where we have undercover parking right in front of our store and the most advanced gold testing lab in Canada for consumers to use

What is the most important consideration when you want to buy silver coins in Toronto or Canada?

To us, this question is not quite right. The way we see it is that you not going to buy silver coins. What yore actually doing is a currency conversion. You're converting digital or plastic money into money made from silver. And as we all know, FIAT currencies like Canadian dollars goes down in value due to inflation, and precious metals tend to go up during inflation. Cash is worth less over time, and silver is worth more. One is Worthless, and one is worth more!

What is the best silver coin to buy in Canada?

This one is super easy. The big boss of silver coins in Canada is the 1 troy ounce Silver Maple Leaf coin, and there are three key reasons for this.

As mentioned earlier, you're doing a currency conversion. And one day, you will want to convert your silver money back into FIAT currency. And here is the truth about the reselling side of the transaction. Bullion Dealers in Toronto like 401Gold and Troy.ca all have spreadsheets that list all the bullion items they buy back from customers, and how much they pay for each. Typically bullion dealers do not publish these rates, but we do and you can see them here at our silver coin payouts page. And as you can see our our payouts page, Silver Maple Leaf coins have the highest payout above all other silver coins, which means you will get more back from your silver from us and probably every other bullion dealer in Canada as well. So do not believe any bullion dealer that says "its made of silver, so its as good as any other silver - so buy silver coins from us, and any type will do". That's just plain wrong!
Counterfeiters have reproduced every single piece of bullion ever made, and they are truly terrifying on how well they are made. Silver Maple Leaf coins minted after 2014 have truly amazing anti counterfeiting technology built into them, which allows you to see just with your naked eye that the coin is real . More information on this can be found in this article on counterfeit bullion.
All silver coins have the risk of developing white milk spots, especially those that have a purity of 9999 instead of 999. The Royal Canadian Mint developed a proprietary technology called MINTSHIELD™ which is the world's first and only proven solution for reducing white spots on every Silver Maple Leaf bullion coin dated 2018 or later.

What if I want to buy silver coins from other mints, and what factors should I consider?

Moving country - As an example, I would recommend that you buy silver coins like the American Silver Eagles if you were planning on moving to the United States, or Silver Britannia's if you were moving to Europe.

Personal Taste - Some silver coins like the Silver Britannia's have really beautiful eye appeal, and if that's what you like - then you should get them. But you should always remember that you may not get as much back for a Silver Britannia in Canada as you would get for a Silver Maple Leaf coin

Old coins and taxation in Canada - Pure silver coins are NOT taxable in Canada, but old coins that have a lower purity are now deemed taxable by the CRA. For further information about this, please visit our page on the "Risks of buying non-pure gold and silver coins".