AMERICAN GOLD EAGLE — MAY 3, 2012
🪙 91.67% Purity · NOT GST/HST-exempt · RRSP/TFSA: No (below 99.5%)
On Thursday, May 3, 2012, the American Gold Eagle was priced at C$1,692.92 in Canadian Dollars. This included the spot price of C$1,612.30 plus a typical dealer premium of C$80.62 (5.0% over spot). Gold fell C$17.13 (-1.05%) from the previous session.
The American Gold Eagle is the official US gold bullion coin, produced by the US Mint since 1986. While extremely popular in the United States, Canadian buyers should note that its 91.67% purity (22 karat) means it does NOT qualify for GST/HST exemption in Canada and is NOT eligible for RRSP/TFSA registration. Canadian investors may prefer the Gold Maple Leaf for tax advantages.
In 2012, gold in CAD traded between C$1,546.80 and C$1,784.72, with an annual average of C$1,667.17. This day's price was -3.3% below the yearly average and -9.7% from the year's high.
PRICE BREAKDOWN
| Component | CAD |
|---|---|
| Gold Spot (XAU/CAD) | C$1,612.30 |
| Premium (5.0%) | +C$80.62 |
| American Gold Eagle | C$1,692.92 |
| Per Gram | C$54.43 |
CANADIAN DEALER PRICES — MAY 3, 2012
| Dealer | 1 oz Bar (CAD) | Premium |
|---|---|---|
| Kitco | C$1,677.30 | C$65.00 |
| Sprott Money | C$1,690.30 | C$78.00 |
| SilverGoldBull | C$1,667.30 | C$55.00 |
| TD Precious Metals | C$1,707.30 | C$95.00 |
| Royal Canadian Mint | C$1,722.30 | C$110.00 |
| Border Gold | C$1,682.30 | C$70.00 |
📊 Market Analysis — May 3, 2012
❓ Frequently Asked Questions
❓ 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.
❓ What is the best size to buy for Canadian investors?
For most Canadian investors, 1oz gold bars or Canadian Gold Maple Leaf coins offer the best balance of premium and liquidity. Larger bars (10oz, kilo) have lower premiums per ounce but can be harder to liquidate in smaller amounts.
❓ 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.
💡 Canadian Gold Investor Guide
Portfolio Allocation: Most Canadian financial planners recommend allocating 5–15% of a diversified portfolio to gold and precious metals. This allocation provides downside protection during equity bear markets while maintaining growth potential during inflationary periods.
Physical vs Paper Gold: Physical bullion (bars, coins) provides tangible ownership with no counterparty risk, ideal for long-term holdings. ETFs (CGL.TO, MNT.TO) offer convenience for trading and rebalancing. A combination of both can optimize for both security and flexibility.
⚖️ Unit Conversions (CAD)
| Unit | Price (CAD) |
|---|---|
| Per Troy Ounce (31.1g) | C$1,692.92 |
| Per Gram | C$54.43 |
| Per Kilogram | C$54,428.56 |
| Per Pennyweight (1.555g) | C$84.65 |
| Per Tola (11.66g) | C$634.85 |
📚 Learn more: How to Buy Gold in Canada · Gold Tax Guide · 25 Year Price Analysis · All Guides