Buying gold from Canadian banks (TD, Scotiabank and others)

For many Canadians, the bank feels like the obvious place to buy gold: you already trust it, and the money moves from your own account. But Canadian banks have quietly changed what they offer, and one of the best-known names in bank gold no longer sells it at all. Here is what each of the big banks offers today, checked on their own websites, and what you pay compared with a specialist dealer.

Which Canadian banks sell gold today?

We checked each bank's own website on 12 October 2026. Where a bank's site had no current page about buying gold, we say so rather than guess.

Sources: each bank's own website, the Royal Canadian Mint's guide to buying bullion from banks (24 October 2024), and CTV News Toronto for Scotiabank. Offers change, so confirm with the bank before you go.

TD Precious Metals

TD runs the most complete bank gold service in Canada. Its online store lists 96 gold products, from 1 gram TD bars to 10 oz bars, plus Royal Canadian Mint Maple Leafs and collector coins. Anyone can buy online, but the limits differ: TD customers can spend up to CA$24,999.99 in 24 hours, and non-customers CA$2,999.99. Bigger orders are placed in a branch and must be paid from a TD Canada Trust deposit account.

TD's FAQ explains that the price shown on the site is its "preferred pricing" for TD customers who pay from an eligible TD chequing, savings or line of credit account. The final price is confirmed only once you choose a payment method, so paying by credit card may cost more. Prices refresh every 15 minutes. Shipping inside Canada is free on orders of CA$500 or more, and TD's product pages say orders can take up to five business days to pack, then two to seven business days to arrive.

CIBC Precious Metals

CIBC sells gold bars (1 oz and 1 kg), Maple Leaf coins from 1/10 oz to 1 oz, collector coins and gold e-certificates (minimum 5 oz). You can buy through CIBC Online Banking, up to CA$9,500 in 24 hours including tax and shipping, or at a banking centre for larger amounts. CIBC states there are no transaction fees for buying, and its prices update every two minutes. Online orders go only to a Canadian residential address, not a P.O. box or business.

RBC

We could not find a current page on RBC Royal Bank's personal banking site about buying gold over the counter; its old coins page now returns "page not found". RBC Dominion Securities, RBC's investment arm, describes a Precious Metals Bullion Program that lets clients hold Maple Leafs, bars and wafers inside their investment account, stored at the Royal Canadian Mint. That suits people who already have an RBC investment advisor, not someone popping into a branch for one coin.

BMO

BMO-branded gold bars exist and still trade on the resale market, and the Royal Canadian Mint listed BMO as a bullion seller in October 2024. But we found no current page on bmo.com offering gold to personal banking customers when we checked. If you bank with BMO, ask your branch directly before you go in expecting to buy.

Scotiabank: stopped selling, and won't buy back

Scotiabank was once Canada's best-known bank for gold, through its ScotiaMocatta business. A Scotiabank spokesperson told CTV News Toronto that the bank announced the wind-down of its metals business in the second quarter of 2020, and the Royal Canadian Mint says Scotiabank "no longer offers any precious metal products or services". Its old precious metals page now returns "page not found". In the CTV case, a customer who had bought gold and silver from Scotiabank in 2013 could not sell it back to the bank. Scotiabank-branded bars are still real gold; you simply sell them to a dealer instead.

Is gold cheaper at a bank or an online dealer?

Every gold price is the spot price (the market price of one troy ounce) plus a premium for making, shipping and the seller's margin. We captured TD's price for one 1 oz Gold Maple Leaf automatically from its gold coin page and compared it with our Canadian dealer check from the day before.

GoldVetted automated price checks. Dealers: 11 October 2026, about 12:05 UTC, market closed. TD: 12 October 2026, 06:32 UTC, from TD's gold coin listing, which shows its preferred price for TD customers paying from a TD account; spot from gold-api.com at 06:32 UTC. Because spot differed between the two days, compare premiums, not prices. CIBC sells online through its banking platform and we did not capture a CIBC price, so we do not publish a premium for it. See the Canada premium report and the premium tracker.

What this means for you: TD was not the dearest option. Its customer price was 0.66 points above Canadian PMX's wire price and 2.14 points above Gold Stock Canada's, which works out to about CA$128 more per coin than the cheapest dealer at 12 October spot. But both dealers cost more than TD once you pay by card. So the cheapest route depends as much on how you pay as on where you buy. Run any quote through the premium calculator on our Canada buying guide.

Check Gold Stock Canada's price today

What are the pros and cons of buying gold from a bank?

How do banks handle buyback?

The buyback price is what the seller pays you when you sell. The gap between buying and selling prices is the spread, and it is the real cost of a round trip. Bank buyback rules are tighter than most dealers'.

• TD: TD clients can sell physical metal at any TD branch, with pricing "based on live market rates". You get a quote from a banking specialist and can take the money in Canadian or US dollars. TD "reserves the right to assess" products and decide whether they are fit to buy back. Metal in TD Secure Storage can be sold online.
• CIBC: buys back at banking centres only with the original receipt, in pristine condition, and only products CIBC sells. It may decline without giving a reason, pays after checking quality (usually within 10 business days), and does not buy back collector coins.
• Scotiabank: does not buy back, even its own branded bars.

Keep your receipt and original packaging whichever bank you use. Specialist dealers generally buy any genuine bullion; compare them in our guide to where to sell gold in Canada.

Do you pay GST or HST on bank gold?

The tax rules do not change because a bank is selling. Under section 123(1) of the Excise Tax Act, gold bars, ingots, coins and wafers refined to at least 99.5% purity are "precious metal", and selling them is GST/HST-exempt. A 99.99% Maple Leaf or a TD bar qualifies. Collector coins, such as the proof and specialty Maple Leafs on bank sites, are not bullion and can be taxable. CIBC's help page also flags provincial sales tax: 5% PST on physical precious metal in Saskatchewan, and PST on collector coins in British Columbia (7%) and Manitoba. Manitoba's own guidance gives its general sales tax rate as 7% and exempts pure bullion (Bulletin 043), so check the current rate with the province. If you sell at a profit, half of a capital gain is usually taxable; see our Canadian gold tax guide.

Can you store gold at a Canadian bank?

TD Secure Storage has no purchase minimum, and taking metal out is done at a branch; withdrawals under CA$500 cost CA$10 plus tax. CIBC Precious Metals states plainly that it does not offer storage. Our gold storage guide compares home safes, deposit boxes and vaults. If you want gold inside a registered plan instead, read gold in an RRSP or TFSA; TD's FAQ says registered accounts such as TFSAs cannot pay for its store purchases.

How to buy gold from a Canadian bank, step by step

1. Check the spot price. Look up today's gold price in CAD so you can work out the premium on any quote.
2. Pick the product. For tax-free bullion, choose a 99.99% product such as the Gold Maple Leaf or a 1 oz bar, not a collector coin.
3. Compare with a dealer. Price the same coin at two dealers, paying the way you plan to pay.
4. Mind the limits. Large orders need a branch visit at TD and CIBC.
5. Choose delivery, pickup or storage. Keep the receipt and packaging; both matter for buyback.

Still deciding between a bank and a warehouse store? See Costco gold in Canada, TD vs Costco gold and our list of best places to buy gold in Canada. This page is general information, not financial advice.

Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.