Today's Scrap Gold Prices in Canada (CAD)
Gold scrap prices in Canada are determined by the international spot gold price (in USD) converted to Canadian dollars using the current CAD/USD exchange rate. The value depends on the karat purity and weight of your gold items.
Current Canadian Scrap Gold Rates (Per Gram)
| Karat | Purity | Melt Value (CAD/g) | Typical Dealer Offer (80%) |
|---|---|---|---|
| 10K Gold | 41.67% | C$44.00 | C$35.20 |
| 14K Gold | 58.33% | C$61.50 | C$49.20 |
| 18K Gold | 75.00% | C$79.00 | C$63.20 |
| 22K Gold | 91.67% | C$96.50 | C$77.20 |
How Gold Prices Work in Canada
The Canadian scrap gold market operates similarly to other countries, but prices are quoted in CAD:
- Spot Price: International gold price in USD per troy ounce
- CAD Conversion: USD price × current CAD exchange rate
- Karat Adjustment: Melt value × purity percentage (e.g., 58.3% for 14K)
- Dealer Margin: Refiners pay 70-90% of melt value
Example: If gold spot is $3,200 USD/oz and CAD exchange rate is 1.36, then 14K gold scrap is worth approximately C$66 per gram in melt value.
Where to Sell Scrap Gold in Canada
Canadian gold sellers have several options:
1. Local Jewelry Stores & Pawn Shops
Found in most cities. Convenient but may offer lower prices. Common in Toronto, Vancouver, Montreal, Calgary, Edmonton, Ottawa.
2. Specialized Gold Buyers
Dedicated scrap gold buyers in major metropolitan areas typically offer better rates than pawn shops. Look for established businesses with positive reviews.
3. Mail-In Refiners
Send your gold to a refiner via insured mail. Popular among Canadians in remote areas. Most refiners provide free insured shipping kits.
4. Banks (Limited)
Some Canadian banks buy gold coins and bars but rarely accept scrap jewelry. TD, RBC, and Scotiabank may purchase government-minted bullion only.
Canadian Gold Scrap Regulations
- No GST/HST: Gold sales are exempt from Canadian sales tax
- Capital Gains: May apply if selling personal gold for profit
- Anti-Money Laundering: Large transactions (>C$10,000) require ID verification
- Provincial Rules: Some provinces require gold buyers to be licensed
Tips for Selling Gold in Canada
- Get Multiple Quotes: Compare offers from 2-3 buyers
- Verify Weight: Use a gram scale before selling
- Check Purity: Look for karat stamps (10K, 14K, 18K)
- Understand the Offer: Ask what % of spot price they pay
- Avoid High-Pressure Sales: Legitimate buyers give you time to decide
- Request Payment Method: Cash, e-transfer, or cheque
Frequently Asked Questions
What is the scrap gold price per gram in Canada today?
Today's scrap gold prices in Canada vary by karat: 10K gold is approximately C$42-46 per gram, 14K gold is C$61-68 per gram, and 18K gold is C$78-82 per gram. Prices fluctuate with the CAD/USD exchange rate and international gold spot price.
How is scrap gold priced in Canadian dollars?
Scrap gold in Canada is priced by taking the international spot gold price (in USD), converting it to CAD using the current exchange rate (typically 1.30-1.40), then multiplying by the karat purity. Dealers pay 70-90% of this calculated melt value.
Where can I sell scrap gold in Canada?
You can sell scrap gold at: local jewelry stores, pawn shops, specialized gold buyers, mail-in refiners, and some precious metal dealers. Major cities like Toronto, Vancouver, Montreal, and Calgary have numerous options. Always compare offers from multiple buyers.
Do I pay tax when selling gold in Canada?
No GST/HST applies when selling gold in Canada. However, capital gains tax may apply if you sell personal gold items for a profit above their original purchase price. Consult a tax professional for large sales.
What is a fair price for scrap gold in Canada?
A fair offer is 75-90% of the gold's melt value. For 14K gold at current prices (C$66/g melt value), expect C$50-60 per gram from reputable buyers. Mail-in refiners often pay more (85-95%) than local shops (70-80%).
How does the CAD exchange rate affect gold prices?
When the Canadian dollar weakens against USD, gold prices in CAD increase. For example, if CAD moves from 1.30 to 1.40 per USD, the same gold becomes more expensive in Canadian dollars, benefiting Canadian sellers.