Canadian PMX Review: Your Next Gold and Silver Bullion Dealer, or Skippable?
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Canadian PMX started its business in 1987 in Richmond Hill, in the greater Toronto area. They have been an accredited bullion dealer for the Royal Mint for the past 25 years.
They do not offer any of the supplementary services such as storage and TFSAs or RRSPs. However, they do have a very spacious high-end walk-in store.
Canadian PMX Customer Reviews & Ratings
Canadian PMX has a high quality of reviews from customers on NiceLocal and Google. They also have an A+ from the Better Business Bureau with zero complaints over the past three years.
- Better Business Bureau: ⭐⭐⭐ (A+ 3.0 from 2 customer reviews)
- BBB: Customer complaints in 3 years: Zero
- Google: ⭐⭐⭐⭐ (4.0 from 96 customer reviews)
- NiceLocal: ⭐⭐⭐⭐ (4.1 from 66 customer reviews)
Canadian PMX Management & History
We have not been able to find any information on Canadian PMX’s management. Neither have we been able to find anything about the history of the company. And the company has been in the industry for 35 years, and 25 of those as an accredited bullion dealer of the Royal Mint. So, we find the lack of this information reticent.
Canadian PMX Pricing
- Gold Product – Royal Canadian Mint 1 Oz. Gold Bar: $2,483.77 (4.75% markup over spot price)
- Silver Product – Valcambi Suisse 1 Kilo Silver Bar: $1,066.57 (19% markup over spot price)
- Platinum Product – Pamp Suisse Lady Fortuna 1 Oz. Platinum Bar: $1,312.74 (10.5% markup over spot price)
Canadian PMX Products & Services
Canadian PMX is one of the few bullion dealers that can boast immediate availability on all its gold coins. And they also have stock on all silver products except for one item. However, the number of silver items reaches 37.
At the time of writing, among their items, they have 9 gold bars and 15 coins. In silver, 21 bars, 8 Coins, and 8 rounds. Among their platinum offerings, they have 1 coin and 1 bar.
Gold
Gold coins come in four sizes, 2 Oz, 1 Oz, ½ Oz, and 1 gram. Their best-priced coin is the 2022 Canadian Maple leaf 1 Oz Gold Coin. This coin is an investor’s classic, and the Royal Mint started striking these coins in 1979.
Source: Canadian PMX
Among gold bars, Canadian PMX counts 9 items, 7 of which are available for immediate delivery. The smallest bar starts at 1 gram, other sizes available include 5 grams, 10 grams, 1 Oz, 10 Oz, and 1 kilo. Their best-priced 1 Oz. bar is the Perth Mint Gold Bar.
Source: Canadian PMX
Silver
Canadian PMX has a large assortment of silver products. Silver coins come in two sizes 1 Oz. and 5 Oz. Among these, you will find some coins that are not seen so often such as the Armenian Noah’s Ark or the Australian Kookaburra 30th Anniversary.
Source: Canadian Pmx
This bullion dealer also offers a large selection of silver rounds. The rounds come in 5 Oz, 10 Oz, and 20 Oz. However, some are 0.9999 purity, and others are 0.999 purity. As is the case with our favorite rounds from Canadian PMX, the Beaver Bullion Mining Your Own Business. Which is available in 5 oz. and 10 Oz.
Source: Canadian PMX
Platinum
The platinum selection shows a limited number of items with just one bar and one coin. Although it is true most precious metal collectors stick to gold and silver, they could improve their offering to include more options for platinum.
However, both options for coin and bar are well regarded and valid items. The Pamp Suisse Lady Fortuna 1 Oz. Bar and the 2022 Platinum Eagle 1 Oz. Coin.
Discounts
Bulk discounts start from 5 items for gold and silver 1 Oz. coins and bars with no further discounts for larger orders. Other gold and silver products see the bulk order discount start at 10+, with further discounts at 20+, 50+, and 100+.
Some items see discounts start at 25+, with step-ups at 50+ or 75+, and then 100+ or 300+. What we do like about Canadian PMX’s website design is the fact that you can already see the bulk discount sizes before you click on the item.
Source: Canadian PMX
Shipping
As with most bullion dealers, Canadian PMX offers free shipping for orders over $500 within Canada. All orders are shipped fully insured through UPS (Canada) or FedEx and UPS (USA). Depending on the location the dealer may ship via Canada Post or United States Postal Services.
For large orders or purchases that require delivery to a commercial address, they can be shipped via Brinks at an additional cost. All shipments require a signature on receipt.
Payment Options
Various payment options are available from Canadian PMX when it comes to buying bullion. For in-store purchases above $10,000 in cash, Canadian PMX will ask for ID. The list of payment methods includes:
- PayPal – Up to $100,000
- Wire Transfer – Up to $100,000
- Bank draft – Up to $100,000
- Electronic Bill Payment – Limited to $9,999.99
- Credit Card – Limited to $5,000
- For purchases over $100,000, you must call for assistance
Selling Your Precious Metals
You can sell your precious metals back to Canadian PMX whether you bought the bullion from them or elsewhere. You are invited to go to their store location; however, they also accept shipments from the US and Canada as well as other countries.
You can call a trader on 1-888-291-1000 at Canadian PMX to establish their best price. The dealer buys gold from 1 Oz. and silver from 50 Oz. Trades transacted over the phone are considered binding and Canadian PMX will send an email confirming the details.
They also allow you the option to send your precious metals without prebooking the sale price. Once the dealer has received your bullion, they will contact you to acknowledge safe arrival. Within one business day, they will call you with their best buying price. Provided that you find their offer acceptable they will post a cheque the same day.
Do We Recommend Canadian PMX for Your Next Gold Purchase?
Canadian PMX has a large selection of gold and silver bars and coins that are available immediately. Often, we see bullion dealers with large lists of products but only a few of them are available immediately.
So, this bullion dealer gets top marks for ease of access to the bar or coin of your choice, without any extra delays. The bullion is competitively priced when compared to the industry standard. And online reviews are mainly positive, with no complaints to the Better Business Bureau in the last 3 years.
For those investors looking to set up a retirement account to hold their bullion, this may not be the best option as they do not manage such accounts. They also lack storage facilities which may cause headaches when you go to sell your bullion back, especially if you own large quantities.
You may have made up your mind already, in any case, you may want to compare the services of other bullion dealers before you invest your money. You can check out our reviews on the top bullion dealers here.
Canadian PMX Headquarters & Store Location
- 10355 Yonge St, Richmond Hill
- Toronto, Ontario
- L4C 3C1 Canada
- Tel: 1-(905) 787-1700
- Tel. traders: 1-(888) 291-1000
- Email: info@canadianpmx.com
Store opening times
- Monday – Wednesday 9:30am – 5:00pm
- Thursday & Friday 9:30am – 6:00pm
- Saturday 10:00am – 5:00pm
- Sunday Closed
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