Guide · Selling
Selling inherited gold and silver
What to do with gold, silver and coins from an estate in Canada, without losing value or getting the taxes wrong.
Last updated October 7, 2026
Families often find gold jewellery, silver flatware and coins when settling an estate. There is no rush to sell. A few careful steps first can make a real difference to what the estate receives.
Step 1: Do not clean anything
Polishing silver or cleaning coins can wipe out collector value. Leave items as you found them.
Step 2: Make a simple list
Photograph each item and write down what it is, any stamps you can see, and its weight in grams. Keep jewellery, flatware, coins and bars in separate groups. The executor may also need this list for the estate’s records and tax return.
Step 3: Separate “metal value” items from “collector value” items
| Usually sold for metal value | Get a specialist opinion first |
|---|---|
| Broken or plain gold chains and rings | Signed or antique jewellery |
| Modern bullion coins and bars | Old Canadian coins, especially gold from 1912 to 1914 and silver dollars |
| Sterling flatware without a famous maker | Sterling by well-known makers, complete sets |
| Common silver dimes, quarters and halves dated 1967 or earlier | Coins in sealed grading-company holders |
Our coin and bar reference shows the metal content of common coins, with a live melt value in Canadian dollars.
Step 4: Know the value on the date of death
Canada has no inheritance tax. Instead, the person who died is treated as having sold everything at its market value just before death. Any tax on a gain up to that day is dealt with on their final tax return, by the executor.
You are then treated as having bought the item at that same value. If you sell soon after, there is often little or no gain for you to report. Write down the gold and silver price on the date of death. Our gold price history can look up the market price in Canadian dollars on a single day since late 2003.
Property left to a spouse can pass at its original cost instead. See taxes when you sell gold and confirm with a tax professional.
Step 5: Get written offers from more than one buyer
Follow the steps in how to sell gold jewellery. For coins, include at least one coin dealer, not only a jewellery buyer or pawn shop.
Watch out for
- Buyers who come to the house, or travelling “gold buying events” that are in town for a few days.
- Anyone who wants to take the whole lot away to value it.
- Pressure to decide on the spot.