Fractional Gold vs Sovereigns in Canada

[rlingford]

Hi all,

New to stacking, and I've come up with a budget etc for myself, which I don't need to explain too much here, however it's important to note that I will only be in the UK for two years before I head back to Canada permanently.

So with that being understood, I'm looking to bring some gold back with me at that time, and I'm just wondering if Sovereigns are as easily sold in Canada as they are here. My current plan is to work towards sovereigns mostly, for their low premiums. However if they don't sell well in Canada, I'm thinking about going for the 1/4oz gold coins, as a few online resources say that sovs are not as desirable in America, and I'm not sure if that taste has bled in to the Canadian market. 

The reason I'm keeping it fractional is that I read that if you are doing a sale of less than $1000 CAD, there is no need to pay CGT. 

Thanks for the input! If anyone has experience moving a small stack internationally feel free to share as well!

[dicker]

Hi - I have had no problem whatsoever bringing back bullion from the US, and Australia - cant comment on the other direction.

I have kept under the local limits for declaring cash and had no problem.

Best

Dicker

[AppleZippoandMetronome]

You'll be fine bringing the gold back to Canada. I've brought silver and gold both ways without trouble.

If you stick with the Sovs I would perhaps recommend locating some Canada Sovs. Having been minted in Ottawa they should find homes easier in Canada. The best prices I've seen for these have been at auction - dealer prices are generally unrealistic, IMO. The upcoming Coin Cabinet auction includes a number of them so might be worth a look.

[rlingford]

10 hours ago, AppleZippoandMetronome said:

You'll be fine bringing the gold back to Canada. I've brought silver and gold both ways without trouble.

If you stick with the Sovs I would perhaps recommend locating some Canada Sovs. Having been minted in Ottawa they should find homes easier in Canada. The best prices I've seen for these have been at auction - dealer prices are generally unrealistic, IMO. The upcoming Coin Cabinet auction includes a number of them so might be worth a look.

That's some great advice. I'll keep an eye out!

[Alex944]

15 hours ago, rlingford said:

The reason I'm keeping it fractional is that I read that if you are doing a sale of less than $1000 CAD, there is no need to pay CGT.

Are you sure that is a cap of 1000$ CAD on a sale, or 1000$ CAD profit on a sale? There's a notable difference between the two and that may change your strategy.

Can't comment on the liquidity of non-canadian Sovs in Canada, but I will say that sov's are generally well recognized and liquid in many parts of the world.

Best of luck!

[rlingford]

I do believe that it is a cap of $1000, and no profit is considered relevant unless over $1000. I think since there doesn't seem to be any clarity in either direction too much though, eventually I will exchange my stack for 1/4 oz gold, just to be safe. We'll see! 

Thanks for the input everyone!