AMERICAN GOLD BUFFALO — AUGUST 20, 2004
🪙 99.99% Purity · GST/HST-exempt · RRSP/TFSA: Yes
On Friday, August 20, 2004, the American Gold Buffalo was priced at C$563.15 in Canadian Dollars. This included the spot price of C$536.33 plus a typical dealer premium of C$26.82 (5.0% over spot). Gold rose C$8.52 (+1.61%) from the previous session.
The American Gold Buffalo is the US Mint's 99.99% pure gold coin, introduced in 2006. Unlike the American Eagle, the Buffalo's high purity means it IS GST/HST-exempt in Canada and IS eligible for RRSP/TFSA registration—making it an attractive alternative for Canadian investors who appreciate American coin designs.
In 2004, gold in CAD traded between C$511.73 and C$559.59, with an annual average of C$532.10. This day's price was 0.8% above the yearly average and -4.2% from the year's high.
PRICE BREAKDOWN
| Component | CAD |
|---|---|
| Gold Spot (XAU/CAD) | C$536.33 |
| Premium (5.0%) | +C$26.82 |
| American Gold Buffalo | C$563.15 |
| Per Gram | C$18.11 |
CANADIAN DEALER PRICES — AUGUST 20, 2004
| Dealer | 1 oz Bar (CAD) | Premium |
|---|---|---|
| Kitco | C$601.33 | C$65.00 |
| Sprott Money | C$614.33 | C$78.00 |
| SilverGoldBull | C$591.33 | C$55.00 |
| TD Precious Metals | C$631.33 | C$95.00 |
| Royal Canadian Mint | C$646.33 | C$110.00 |
| Border Gold | C$606.33 | C$70.00 |
📊 Market Analysis — August 20, 2004
❓ Frequently Asked Questions
❓ Can I hold gold in my RRSP or TFSA?
Gold bars and coins with 99.5%+ purity from approved refiners can be held in a self-directed RRSP or TFSA through a qualified custodian. Storage is handled by approved vault facilities like those operated by the Royal Canadian Mint.
❓ Is this product GST/HST-exempt in Canada?
Under the Excise Tax Act, investment-grade gold bullion with 99.5% or higher purity is exempt from GST/HST across all Canadian provinces. Products below this threshold (e.g., American Eagle at 91.67% gold) are subject to full provincial sales tax.
❓ How should I store gold safely at home?
If storing at home, use a UL-rated fire-resistant safe bolted to concrete. Consider a rider on your home insurance policy. For larger holdings, allocated vault storage through Kitco Pool or Sprott Money provides institutional-grade security.
💡 Canadian Gold Investor Guide
Storage Considerations: Home safe (for holdings under C$50,000), bank safe deposit box (limited insurance), or allocated vault storage through dealers like Kitco or Sprott Money (institutional security, insured). Each option involves different cost, convenience, and risk trade-offs.
Dollar-Cost Averaging (DCA): Buy a fixed CAD amount of gold each month — say C$500. This strategy reduces the impact of short-term volatility and removes the stress of timing the market. Over 10+ years, DCA has historically produced returns close to the annual average gold price.
⚖️ Unit Conversions (CAD)
| Unit | Price (CAD) |
|---|---|
| Per Troy Ounce (31.1g) | C$563.15 |
| Per Gram | C$18.11 |
| Per Kilogram | C$18,105.67 |
| Per Pennyweight (1.555g) | C$28.16 |
| Per Tola (11.66g) | C$211.18 |
📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides