Top Canadian Gold & Silver Bullion and RRSP Dealers in 2017
There are costs to holding physical gold in your RRSP or TFSA. First, the gold and silver must be purchased and verified by a third party custodian who reports to the Canadian Revenue Agency. Then, it must be transported and securely stored. All of these steps have associated costs that add to the already-high opportunity cost of holding a non-interest earning asset like gold.
At the same time, holding physical gold provides a level of security that other investments cannot. Even gold that is stored in a distant vault can usually be claimed and shipped at any time. Several companies provide Canadians with the services necessary to add physical gold to their retirement portfolios in accordance with the 2005 federal budget laws.
Regal Assets is Canada’s top choice when it comes to investing in physical gold and silver through an RRSP or TFSA. Launched in the U.S. 7 years ago by a Canadian investor and entrepeneur, Regal Assets finally launched its operations north of the border this year. Regal Assets boasts the highest satisfaction rate in the industry and the best storage options. Unlike other Canadian gold companies that made RRSP investments ‘a side offering’, Regal Assets made it its flagship product. This means that they offer an unparalled level of expertise for retirement investors and are able to recommend the best options based on your objectives. Regal Assets is the only Canadian Gold RRSP company that offers an optional offshore segregated storage for investors that prefer to keep their metals in a safer jurisdiction, away from government’s hands.
Questrade is another good alternative when it comes to Gold RRSP investing, but their options and expertise are limited. They were the first Canadian broker to offer the option of holding physical gold and silver coins and bullion bars in registered accounts. An account can be opened with as little as $1000. Any actual precious metal is stored in your name at the International Depository Service of Canada (IDS) or pooled and stored at the Royal Canadian Mint. You can also have it shipped and store it yourself. See our RRSP custodian comparison table for more details.
Silver Gold Bull is one of Canada’s most popular gold dealers offering one of the largest selection of coins abd bars, although beware that most of them are NOT elligible for RRSP investments according to the CRA’s regulations. Silver Gold Bull is a Calgary-based online platform that allows users to trade qualifying gold coins and bars. Assets can be shipped to the purchaser or shipped to one of their secure storage partners in Toronto or Calgary. Once again, Silver Gold Bull will not act as your brokerage for the RRSP. When we spoke with them over the phone, they said that they partner up with Questrade for brokerage part. See our gold dealer comparison table for more details.