Tax on gold and silver in Canada.

This page is general information. It is not tax advice. Rules change, so check with the Canada Revenue Agency (CRA) or a tax professional before you rely on it.

When you buy

Jewellery is taxed

Gold and silver jewellery is taxed like most goods. Every sale carries the 5% federal GST, on its own or inside a harmonized tax (HST). Four provinces add their own sales tax. There is no city sales tax in Canada.

Rates checked Oct 7, 2026. Current rates: Canada Revenue Agency.

Investment bullion is not

The federal sales tax law treats some gold, silver and platinum as a financial instrument, not as goods. It carries no GST or HST if it is:

• a bar, ingot, coin or wafer, and
• gold or platinum at least 99.5% pure, or silver at least 99.9% pure.

A Gold Maple Leaf or a Silver Maple Leaf qualifies. A 14K ring does not. Nor does a 22K coin, because 22K is 91.7% gold. Collector coins sold for their rarity are usually taxed too. Source: CRA GST/HST Memorandum 17-1.

Provinces with their own sales tax

• British Columbia (7% PST). PST is reported not to apply to gold, silver or platinum bullion. Coins sold for more than their face value may be taxed. Confirm with the BC Ministry of Finance. Source.
• Manitoba (7% RST). Retail sales tax does not apply to bars, ingots, coins or wafers at the same purity as the federal rule (Manitoba Finance bulletin RST 043, revised July 2026). Source.
• Quebec (9.975% QST). QST is reported to follow the federal rule, so qualifying bullion carries no QST. Confirm with Revenu Québec. Source.
• Saskatchewan (6% PST). PST is reported not to apply, since September 1, 2016, to precious metals that qualify for the federal exemption. Confirm with Saskatchewan Finance.

In the HST provinces there is one tax, so bullion that is free of HST carries no other sales tax. Alberta and the three territories charge GST only.

When you sell

You do not charge sales tax

If you sell your own jewellery, coins or bars to a shop, you do not add GST or HST. Only a registered business charges it.

A profit can be a capital gain

If you sell for more than you paid, the difference is usually a capital gain. Half of a capital gain is added to your income for the year, and you pay federal and provincial income tax on that half at your own rate. The other half is not taxed.

Example: you paid $2,000 and sell for $3,000. The gain is $1,000. $500 is added to your income.

The $1,000 rule for jewellery and coins

The tax law calls jewellery and coins you own for personal use “listed personal property”. For these, both the price you paid and the price you sell for are treated as at least $1,000.

• Sell an item for $1,000 or less: no gain to report.
• Paid $300 and sell for $1,400: the gain is $400, not $1,100.
• A loss on jewellery or coins can only be used against gains on other listed personal property.

The rule is applied to each item. A set that is normally sold together can count as one item.

Inherited gold

Canada has no inheritance tax. Gold you inherit is normally treated as if you bought it at its value on the day the owner died. Keep a note of that value: it is the starting point for any gain when you sell.

If you trade often

If you buy and sell bullion regularly to make money, the CRA can treat the profit as business income. Then all of it is taxed, not half.

Keep records

• The receipt from when you bought, or a note of the value when you inherited.
• The buyer’s written offer and receipt when you sell.

Details: CRA guide T4037, Capital Gains. Quebec residents also file with Revenu Québec.

Work it out

The calculator shows the melt value in Canadian dollars. Switch it to “I’m buying” and choose your province to add the sales tax.