AMERICAN GOLD BUFFALO — JANUARY 12, 2024
🪙 99.99% Purity · GST/HST-exempt · RRSP/TFSA: Yes
On Friday, January 12, 2024, the American Gold Buffalo was priced at C$2,875.38 in Canadian Dollars. This included the spot price of C$2,738.46 plus a typical dealer premium of C$136.92 (5.0% over spot). Gold rose C$43.63 (+1.62%) 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 2024, gold in CAD traded between C$2,681.51 and C$3,879.58, with an annual average of C$3,276.79. This day's price was -16.4% below the yearly average and -29.4% from the year's high.
PRICE BREAKDOWN
| Component | CAD |
|---|---|
| Gold Spot (XAU/CAD) | C$2,738.46 |
| Premium (5.0%) | +C$136.92 |
| American Gold Buffalo | C$2,875.38 |
| Per Gram | C$92.45 |
CANADIAN DEALER PRICES — JANUARY 12, 2024
| Dealer | 1 oz Bar (CAD) | Premium |
|---|---|---|
| Kitco | C$2,803.46 | C$65.00 |
| Sprott Money | C$2,816.46 | C$78.00 |
| SilverGoldBull | C$2,793.46 | C$55.00 |
| TD Precious Metals | C$2,833.46 | C$95.00 |
| Royal Canadian Mint | C$2,848.46 | C$110.00 |
| Border Gold | C$2,808.46 | C$70.00 |
📊 Market Analysis — January 12, 2024
❓ 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
Tax-Efficient Gold Investing: Maximize TFSA contributions first — all gold gains are 100% tax-free. Then use RRSP for tax-deductible contributions where gains are tax-deferred. Keep non-registered gold purchases for emergency reserves, as the capital gains inclusion rate is 50%.
When to Buy and Sell Gold: Consider buying when gold-to-stock ratios are low and selling when gold exceeds your target allocation. Profit-taking near historical highs and reallocating to undervalued assets can lock in gains. Avoid panic selling during short-term dips — gold rewards patient holders.
⚖️ Unit Conversions (CAD)
| Unit | Price (CAD) |
|---|---|
| Per Troy Ounce (31.1g) | C$2,875.38 |
| Per Gram | C$92.45 |
| Per Kilogram | C$92,445.48 |
| Per Pennyweight (1.555g) | C$143.77 |
| Per Tola (11.66g) | C$1,078.27 |
📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides