Canadian PMX review: is it a good place to buy gold?

Canadian PMX is part dealer, part coin house. Its collector business, Canadian Coin & Currency, says it has served collectors since 1987; the bullion arm opened its online store on 31 October 2011 and its showroom in a former Bank of Nova Scotia building on Yonge Street days later, according to the company's 2011 launch announcement. That history shows in what it sells: current-year Royal Canadian Mint coins, plus collector coins, bank notes and jewellery that pure bullion dealers rarely touch.

See Canadian PMX's prices today

How does Canadian PMX score on our checks?

We apply the same published criteria to every dealer; see how we review gold dealers. No stars, no testimonials: only what we confirmed from the dealer's policies, our own price checks and independent sources.

How much does Canadian PMX charge?

A dealer's price is the gold spot price in CAD plus a premium, the markup that covers minting, distribution and profit. Our guide to gold premiums explained covers why current-year coins usually cost a little more than random-year ones. Here is what Canadian PMX charged in our two most recent checks, next to other Canadian sellers:

Prices read automatically from each dealer's product page: 11 October at about 12:05 UTC (market closed) and 12 October at about 07:51 UTC. Spot from gold-api.com. A Maple Leaf holds one troy ounce of 99.99% gold, so premium = price / spot - 1. Silver Gold Bull's site does not allow automated price checks, so it is not included. Repeat checks on the premium tracker.

In dollars, Canadian PMX's 2026 coin cost CA$85.33 more than Gold Stock Canada's random-year coin on 12 October, and CA$50.61 less than TD's listing. Part of the gap with Gold Stock Canada is the product: a guaranteed current-year coin usually carries a small premium over "random year" stock. If the year does not matter to you, ask whether a cheaper random-year coin is available.

The card price was exactly 4.0% above the wire price (CA$246.71 more on one coin). In practice, the payment page caps credit card orders at CA$3,000, so a full ounce of gold is out of reach by card anyway. Canadian PMX also runs a price match guarantee against advertised prices from Canadian competitors if you call before you buy; conditions apply.

Payment, shipping and pickup

Canadian PMX accepts more ways to pay than most dealers, and almost all of them earn the 4% cash price:

Your price locks when Canadian PMX sends an order confirmation. After that, the FAQ is strict: cancelling costs a CA$100 fee plus any market loss (the amount gold has fallen since you ordered), and failing to complete a purchase carries a minimum CA$50 penalty. Wires and in-store payments are due within 24 hours of confirmation.

Shipping within Canada is free and fully insured on orders over CA$1,000, usually by UPS, with an adult signature required. Orders typically leave 1 to 3 business days after payment clears, never on a Friday, and gold usually arrives in 1 to 2 business days. Note that it does not supply tracking for bullion parcels unless one has not arrived after 21 business days, and it does not ship to PO boxes. The simplest alternative in the Greater Toronto Area is free pickup in Richmond Hill: bring the confirmation and photo ID matching the billing address. Pure gold bullion is exempt from GST and HST; our Canadian gold tax guide explains the rule.

Royal Canadian Mint products and storage

The Royal Canadian Mint sells most of its bullion through distributors rather than directly to the public, which is why authorized dealers matter if you want current-year Maple Leafs. Canadian PMX says it has held that status for over 25 years, and it also stocks bars and coins from PAMP Suisse, the Perth Mint, the Austrian Mint and others. Our Royal Canadian Mint review covers the other ways to buy the Mint's products.

For buyers who do not want gold at home, the CanadianPMX Storage Program keeps metal in fully insured vaults in Canada. You can sell from storage at a price "locked in upon request acknowledgment", with funds paid within 2 to 3 business days, or withdraw your metal. If the exact product is not available when you withdraw, it promises a "like or better" item. A separate Private Custody service targets advisers and family offices. Neither page names the vault operator or insurer or publishes fees, so ask for all three in writing before you commit.

Selling gold back to Canadian PMX

Canadian PMX describes itself as a two-way market: it buys bullion, plus collector coins, bank notes, jewellery, watches and gemstones. There are three routes, according to its FAQ and sell page:

• In store: items are valued on the spot and paid immediately by cheque. Sales over CA$10,000 need an appointment, and government photo ID is required, with no exceptions.
• By phone: book a price (minimum 1 oz of gold or platinum, or 50 oz of silver), verified by credit card, then deliver the metal within five business days. Booked sales cannot be cancelled.
• Online form: send details and photos for a quote, useful for mixed collections.

Cheque is the free default. Other payouts cost extra: CA$65 for a domestic wire, CA$45 for a bank draft and CA$10 per CA$1,000 for cash over CA$10,000. It does not publish buy prices, so get a written quote and compare it with a buyer that does; our guide to selling gold in Canada shows how.

What customers say

We do not publish testimonials or invent ratings. Independent reviews are scarce:

Two reviews tell you very little. Because the showroom is open seven days a week, a visit is the easiest way to judge service before a large order. The common friction points on its own policy pages are the strict cancellation terms and the lack of parcel tracking.

Who is Canadian PMX best for?

Good fit: buyers in the Greater Toronto Area who want to collect in person or pay cash or debit, anyone who specifically wants current-year Royal Canadian Mint coins, and buyers who want storage in Canada from the same dealer.

Look elsewhere if: price is your main concern (our best places to buy gold in Canada table shows a lower premium), you want to pay by card for a full ounce, or you need flexibility to cancel.

Alternatives to Canadian PMX

• Gold Stock Canada review: 1.76% for a random-year Maple Leaf on 12 October, with a Toronto showroom.
• Silver Gold Bull review: online dealer owned by Gold.com, Inc., with storage in four countries.
• TD Precious Metals review: buy through your bank, at 4.04% for a Maple Leaf on 12 October.
• Canadian PMX vs Silver Gold Bull: the two compared on fees, storage and service.

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.