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Toronto Gold values itself as a family run Canadian business. Through their wider network managed by Canada Gold, their business model is clearly designed for physical in-store transactions.

This model contrasts with most bullion dealers who favor remote online deals. They aim to give their clients a friendly and knowledgeable experience by attending buyers and sellers of precious metals in person.

And one of their goals is to teach clients as much as possible as per their guidelines detailing the process of selling precious metals to them. To reach their goal of being close to their clients they have stores in 13 locations in the following provinces:

• British Columbia
• Alberta
• Ontario
• Quebec

Toronto Gold Customer Reviews & Ratings

Toronto Gold does not have a wide presence on the internet from social media reviews. However, the review ratings it does have from google are of a high quality. The bullion dealer is accredited by the Better Business Bureau with an A+.

• Better Business Bureau:  A+
• BBB: Customer complaints in last 3 years: Zero
• Google: ⭐⭐⭐⭐⭐ 4.7 from 153 customer reviews
• Facebook: ⭐⭐⭐⭐⭐ 4.7 from 12 reviews

Toronto Gold Management & History

Toronto Gold is part of Canada Gold which owns a network of a dozen bullion dealers across the country. Toronto gold started operating in March 2015, as reported by the Better Business Bureau. Their stated objective is to offer a transparent and professional service with a high level of education.

We were not able to find any publicly available information about the management team or the owners of this bullion dealer or the network of stores it belongs to, which, in our books, is a slight red flag when it comes to family businesses.

Toronto Gold Pricing

At the time of writing, in June 2022, Toronto Gold offers the following prices for their bestselling precious metals products:

• 1 oz. gold bars and coins and .999 Canadian Maples: $2,443.39 (4.5% mark-up over spot price)
• Silver bars and rounds over 10 oz. $31.59 (18% mark-up over spot price)
• 1 oz. platinum bars: $1329.90 (11% mark-up over spot price)

Toronto Gold has some competitively priced items, with mark-ups that are in line with the industry average. And the mark-ups for some gold items are slightly lower than average, since 5% markups tend to be in vogue among gold bullion products. 

In our opinion these prices are in line with or better than some competitors such as Canadian PMX or The Bullion People. However, you may want to check out other competitors such as Silver Gold Bull where you may be able to find slightly lower pricing.

Toronto Gold Products & Services

Toronto Gold has a wide selection of gold items that includes bars, and coins of all sizes. Their silver and platinum selection seems more limited, although it was not possible to determine exactly how many items the have for these two precious metals.

Gold

Toronto Gold’s website does not categorize each item they have on sale, rather they list various types of groups. The image below shows their selection for gold coins and bars. Most noticeable is the fact they cater for small coin sizes down to 1/20^th oz.

It does, however, look like their selection of coins from different mints around the world is limited. It seems they only have Canadian Maple Leaf Gold Coins, albeit in many different sizes. This may actually simplify matters for some gold investors, but for others this may seem a limitation in choice.

 

Silver

Toronto Gold’s silver offering is somewhat limited in both choice of coins and sizes. The image below shows their silver items. As we can see they only have 3 groups, with one choice for silver coins and one size. They also tend to have higher markups for silver products, at about 18% over spot price.

Then they have various sizes of silver bars, below 10 oz. and above 10 oz. and presumably a wide selection of rounds. Although not clear from the website, they may have a varied selection of bars and rounds. However, if they are not from the Royal Canadian Mint or a recognized mint you cannot hold them in your RRSP or TFSA.

Platinum

Their offering in platinum is small but in line with the offerings from other bullion dealers. They only list two groups for platinum as per the image below. Canadian Maple Leaf Platinum 1 oz. coins and platinum 1 oz. bars. It is possible they have more than one type of platinum bar, although we could not establish if that were the case.

Discounts

We presume Toronto Gold offers bulk discounts, as it is very common among bullion dealers. However, a visit to the store would be necessary to determine the size of the discounts and from want quantity they kick in.

Shipping

Toronto Gold does not have any shipping policies as all their transactions are carried out in their store. However, you can opt for a mail in service if you want to sell to them by using their parent site Canada Gold.

Here you will find that they accept mail-in gold items at their Vancouver office. The service is simple and free of charge. Once you have made your request to mail-in your gold items you will receive a GoldPack to mail your gold.

This service is free of charge. And in the pack, you will find free return shipping and insurance together with instructions on how to complete the paperwork. You are under no obligation to sell the items and You will receive documented test results along with your payment.

Selling Your Precious Metals

If you don’t want to sell your gold and silver through the post, you can opt to visit one of their 13 stores. Toronto Gold takes great care to explain the process of how they buy your precious metals. They accept coins and bars but also jewelry and diamonds.

Their buying process is outlined with great detail on their website. They explain the valuation process, which starts with a magnet and continues with an acid scratch test, x-ray testing, and weighing.

Toronto Gold makes their payment by cheque only, for security reasons. They are from CIBC, and you can deposit them directly to your account.

Do We Recommend Toronto Gold for Your Next Gold Purchase?

Toronto Gold, in our opinion, is not for the more sophisticated investor, as they lack a few things to satisfy those needs. First, they have what would seem a smaller than average selection of coins, not weights. 

Second, they have no storage service, and third you cannot buy from them online. Some precious metals investors may give the first feature a pass. Especially if they are not concerned about holding coins and bars from different mints around the world.

However, having no storage services and your only method of purchase is in-store may limit this option to investors with small quantity requirements and who live close enough to one of the various stores.

If you are looking to hold your precious metals in a RRSP or a TFSA then they might not be an ideal choice as they do not offer these services either. Instead, you would have to talk to your self-directed TFSA/RRSP provider to ask about integrating your precious metals purchase into these accounts on your own. Overall, we see Toronto gold as a well-priced traditional bullion dealer with a professional yet friendly service.

Toronto Gold Headquarters & Store Location

Toronto Gold is located in Toronto at the following address:

• 829 Bloor Street W.
• Toronto,
• Ontario, M6G 1M1
• Tel: 416-434-4653
• Email: info@torontogold.com

Store Opening Times

• Monday to Friday 10:00am – 6:00pm
• Saturday: 10:00am – 5:00pm
• Sunday: Closed