FAQ
FAQ – Frequently asked questions about buying & selling gold and other precious metals.
Transaction & Account Process
Canadian issued Government ID is required for every transaction.
Yes! While our business is focused on commercial accounts, we do buy and sell to individuals looking to sell their scrap jewellery and flatware or make a purchase of pure bullion.
No, appointments are not necessary to come into our office. We often recommend out clients Call In before hand to cover any questions they may have or to receive a quick estimate on what they could expect.
We welcome new clients looking to do business with us. Please Give Us A Call so that we can better understand your needs and send you the appropriate account opening documents.
We welcome new clients looking to do business with us. Please Give Us A Call so that we can better understand your needs and send you the appropriate account opening documents.
No, we do not offer home pickup services. If you are located farther from our offices we recommend you Call With Our Team to see if there is anyway we can help.
Yes! We can pay you in either CAD or USD cash. We do NOT offer pay outs in any other currency (EUR, GBP etc.)
No, we are NOT a currency exchange and do not offer any currency exchange services.
Assessment, Pricing & Payout
We do not melt all metals on site but we do melt Gold Scrap to ensure an accurate reading. If you’d like to learn more, read more about our Assay process.
Unfortunately we have seen too much jewellery that was stamped as one purity but when melted and assayed, turned out to be an entirely different and lower purity. This is why we melt all scrap jewellery before we buy it.
We determine purity with our XRF X-Ray Florescent spectrometers, these machines provide fast and non-destructive readings for your metal. If you’re interested in reading more, check out our write up on Purity Analysis.
We melt all gold jewellery in order to get a complete assessment of your allotment of gold. Too often we’ve seen pieces that initially scan as one purity and, after melting, come out something different. This ensures full transparency between our clients and Guardian, making sure you get paid for every penny’s worth that you bring in!
Watches -along with all other items- are purely paid out for their precious metals content.
All businesses and corporations selling scrap metal who require payment of HST must provide, for each transaction, a receipt including the following details: Business Name, Date of Invoice, Amount Payable, Total amount of HST Charged, Goods Description and HST number. The HST number provided must be registered on the day of the transaction and the name with which it is registered must be included in either the account opening documents or on the invoices provided.
All commercial clients selling us scrap must provide a matching invoice for each transaction, including: Business Name, Invoice Date, Amount Payable, Total HST Charged, Description of Goods, and HST Number. The HST number provided must be registered on the day of the transaction and the name with which it is registered must be included in either the account opening documents or on the invoices provided.
Guardian purchases at different margins relative to spot depending on the purity and category of each metal.
Gold Scrap (<99.5% Gold) = 98.5% of Gold Spot
Gold Pure [LBMA] (≥99.5% Gold) = 99% of Gold Spot
Gold Pure [Non-LBMA] (≥99.5% Gold) = 98.5% of Gold Spot
Silver Scrap (<99.9% Silver) = 85% of Silver Spot
Silver Coin (<99.9% Silver) = 85% of Silver Spot
*Silver purchases are currently restricted to select products only – see the newest update at the top banner.*
Silver Pure [LBMA] (≥99.9% Silver) = 97% of Silver Spot
Silver Pure [Non-LBMA] (≥99.9% Silver) = 96% of Silver Spot
Platinum Scrap (<99.9% Platinum) = 85% of Platinum Spot
Platinum Pure (≥99.9% Platinum) = 95% of Platinum Spot
These margins are subject to change and can vary depending on the denomination of bullion.
Gold coins are purchased based on purity and markings. Coins below 99.9% purity or without recognized weight and purity markings are bought at our scrap rate (98.5% of spot). Coins at or above 99.9% purity with official bullion markings are bought at our pure gold rate (99% of spot).
We pay 97% for LBMA Silver and 96% for non LBMA products. 99% for LBMA Gold and 98.5% for non-LBMA Gold.
Yes! Use our gold price calculator to get a current estimate of the value of your scrap, coins, jewellery, and other precious metals items. Our calculator uses real prices that we pay for precious metals items.
Absolutely! We recommend a minimum of 50 grams of sweeps to ensure enough gold to form a bar. We also recommend bringing in some other gold scrap as it helps the metal from the sweeps bind into a more cohesive piece.
Metal Types & Handling
We purchase Gold, Silver, Platinum, Palladium and Rhodium.
Yes, the percentage of precious metals needs to be 30% (8 karat) or higher in order for us to purchase it.
No, there is no minimum quantity required to sell us precious metals.
No, Guardian Gold does not purchase any plated or filled items regardless of quantity.
No, we do not. For more information see our Refining page.
No, we do not purchase any semi-precious or precious stones
All gems and stones that are not removed beforehand are either destroyed or separated from the bar and hammered off with the excess borax after the bar is cooled. All stones are unrecoverable from the excess borax. We recommend our clients bring their jewellery into a jeweller to have them removed before bringing them into our office.
There are many popular hallmarks that indicate an item’s purity, and even more that relate to when and where it was created. This can make assessing hallmarks for purity confusing. We can provide resources to help you identify useful hallmarks so you can better understand what you have, feel free to Call with Our Team to see how we can help.
We carry a range of denominations for bullion, we always recommend clients Call our Office first to make sure we have what you are looking for.
Karat measures gold in jewelry out of 24 parts (e.g., 18k/24k = 75% gold, 24k/24k = 100% gold), while purity is shown as a percentage or decimal (e.g. 75% or 0.750). Both describe how much actual gold is present and are used interchangeably.
We Are Here For You
Our bright, secure, and spacious office is located in downtown Toronto on the south side of Yonge-Dundas Square.
Walk Ins Are Welcome
Address
21 Dundas Square
Suite 1200 – 12th Floor Toronto, ON
M5B 1B7
Hours
Weekdays – 9AM to 4PM
Saturday – Closed
Sunday – Closed