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Canadian Bullion Services Review

  • Editor Rating

  • Rated 4 stars
  • Excellent
  • 0/5 Avg. User Rating

  • Rated 0 stars
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  • Quality
    Editor: 65%
  • Pricing
    Editor: 60%
  • Customer Service
    Editor: 50%
  • Editor: %

Review Summary:

Canadian Bullion Services is one of Canada's leading precious metal dealers. Based in Toronto, the company launched its online trading platform in 2013. It was one of the first online bullion dealers to partner with Questrade, allowing Canadians to trade physical gold and silver in TFSA and RRSPs.

Canadian Bullion Services is one of Canada’s leading precious metal dealers. Based in Toronto, the company launched its online trading platform in 2013. They are committed to educating investors and the website is an excellent source of free information and research on gold and silver investments. Canadian Bullion Services is focused on competitive pricing and customer service.

Trading Physical Bullion in Registered Accounts

Canadian Bullion Services was one of the first dealers to partner with Questrade and provide the opportunity to trade physical gold and silver in TFSA and RRSP brokerage accounts. Questrade is a competitively priced, full-service discount brokerage so you can keep your other RRSP assets (stocks, GICs, bonds, ETFs, etc…) in the account with your bullion. Consolidating your investments will allow you to better balance your portfolio and invest more strategically. Bullion purchased from Canadian Bullion Services will be included on your monthly statement.

The first step to buying gold and silver in a registered account is to open and fund a self directed account at Questrade. This can be done online very easily.  Fund your account with cash or transfer another registered account to Questrade. You will also need to open an account with Canadian Bullion Services, which only takes 15 minutes and is done by phone (1-866-901-0600). You will be sent a  dealer authorization form to link your Questrade account with Canadian Bullion Services. When this is finalized, you are ready to start acquiring bullion. To make a trade, you will call Canadian Bullion Services directly and they will access funds in your Questrade account.

Product Availability

Canadian Bullion Services trades gold and silver in  is guaranteed for purity (.9999) and weight and is minted at the Royal Canadian Mint. Canadian Maple leaf silver and gold coins are available and sourced from the Royal Canadian Mint.

Storage and Fees

You physical silver and gold is stored in a fully segregated, allocated storage at Brinks in Ontario. This facility is under 24 hour surveillance, protected by armed guards, a foot of concrete and steel bars. It is monitored by three independent alarm companies. Your metal is also fully insured. This location is approved to store gold and silver for registered accounts in Canada.

You can take delivery of your metal at any time, although you will have to pay the fees associated with liquidating assets from a registered account. Annual storage fees total 1% of the value of your metal and are charged monthly. You will need to keep cash in your Questrade account to cover these fees as they will be automatically deducted.

Canadian Billion Services uses Xignite to updated their website every minute and pricing is very transparent. However, their website does not indicate what coins and bars are RRSP eligible, only the silver Maple Leaf coin is currently listed. There is no standard commission on bullion trades. Questrade’s $19.95 commission for bullion trades is likely factored into the premium. You can call Canadian Bullion Services directly to discuss their current selection of RRSP eligible bullion and request a quote.

Canadian Bullion Services offers a favourable U.S. exchange rate (1% over spot) if you use Canadian dollars. They also accept U.S. funds, which you can keep conveniently in your Questrade account.

 

Canadian Bullion Services Rating & Complaints

BBB Rating: A+ (Details)
BBB Compaints:  Complaints in the past three years. (Details)
Yelp: Not Rated (Details)
Yellow Pages: Not Listed
Google+:  Not Rated (Profile)
Facebook: 4.0 Stars (4.0 / 5) based on 5 reviews (Profile)
TrustLink: Not Listed
SiteJabber: Not Rated (Profile)

Canadian Bullion Services Storage Information

  • Typical Precious Metals storage solutions can cost up to 150 basis points, but CBS fees are just 5 basis points (.5%/year). You will get a invoice each month for the storage fee and first 3 months for free.
  • When you purchase from Canadian Bullion Services they ship your Precious Metals from their vault directly to one of their storage facilities, at no cost to you.
  • Your products are kept separate from others and protected against theft, damage and physical loss.

Canadian Bullion Services Shipping/Delivery Infromation

Shipping:

For shipping within Canada, FedEx, Purolatorand Canada Post Xpresspost are our trusted carriers. On certain occasions we will ship through other carriers such as Brinks.  When shipping to the U.S. Xpresspost USA is used. International shipping calls for either FedEx or UPS. All packages are insured, unless stated otherwise. Your order may qualify for free shipping dependent upon current promotions and your order size/quantity. (Additional Information)

Delivery: 

You always have the option to take possession of your Precious Metals any time you want. Let them know by phone call or e-mail 15 days ahead of time and they will ship your precious metals to your required address.

Canadian Bullion Services Promotions, Discount Coupons, or Vouchers

There are no current known or posted promotions.

Canadian Bullion Services Founders & Management Team

Currently, no information on the founders or management team for CBS can be found.

 

Canadian Bullion Services Store/Branch Locations

Currently, CBS has no physical branches or stores. For more information visit: https://www.canadianbullionservices.com/

Corporate: 1140 Sheppard Ave, W. Unit 12, Toronto Ontario M3K2A2  Canada

 

Canadian Bullion Services on the Web

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Pros

Competitive Pricing. Favorable U.S. exchange rate

Canadian Bullion Services is one of Canada's leading precious metal dealers. Based in Toronto, the company launched its online trading platform in 2013. It was one of the first online bullion dealers to partner with Questrade, allowing Canadians to trade physical gold and silver in TFSA and RRSPs.

Editor rating
Rated 4 stars
User rating
Rated 0 stars

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4 Comments on Canadian Bullion Services Review

    • Rated 1 stars

    HORRIBLE!!!! They don’t deliver until 4-6 WEEKS later, within Canada.
    It really, really looks as if the have NONE of the products they offer, but they trade with YOUR money to try to get the best price in the 6 weeks fluctuation.
    If the market in bullish, you can wait forever!

    You’d better buy from people who: a) assign a physical person all along your purchase process, and takes accountability. b) Have they products in their secured, real, physical vaults.

  1. This new service was created to help individuals accelerate their precious metals holdings. Clients will no longer need to wait for their deliveries. This helps drive more business value for Canadian Bullion Services by lowering insurance costs and delivery costs while enabling clients to receive their product faster.

    • Rated 1 stars

    I have ordered online from Kitco in the past, but lured by the prospect of saving a few bucks I decided to try out Canadian Bullion Services a try with a small first order. What a mistake.

    Like many other customers, CBS was quick to take my money… after the 25 business days had elapsed and no updates from CBS I began to Email as to when my order would ship. I got the same “warehouse problem” excuse as many other reviewers. The order would always ship “next week”.

    I did get replies by Email, but always excuses, only after two months of delay and threatening to engage the BBB did I receive the miraculous reply that my order was coincidentally “already packed for shipment” and “going out today”.

    Speaking of the BBB, take a look at how many complaints have been registered against CBS.

    When I received the coins, they were new and uncirculated.

    Overall, the repeated inquiries, excuses, and worry that I would actually recieve my shipment were not worth saving a few bucks.

    Not recommended. Buyer beware.

    • Rated 1 stars

    Do not use this company.i have spent 6k with them and very unprofessional. after placing an order in November 2016 I waited almost 3 months for my order. instead of receiving 52 bullion coins I only received 50. this company has not issued any refund to date and keeps saying the cheque is in the mail. I keep calling and they keep making excuses. I still have not received a cheque for the two bullion coins that I paid for.

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