Due to COVID-19, we are operating with limited hours and procedures.
EGR deals mainly with corporations and businesses, but we will quote on your privately owned material. The payout for individuals differs from our on-going commercial clients. Please call us for quotes or send in a request.
We deal with all sizes of Lots; there is no minimum or maximum.
We verify all the products we purchase with the latest in XRF technology and electric penetration pulses to authenticate the gold and silver. Most of our products are directly delivered from various mints. If you have any specific concerns we will work with you to make you confident that your purchase is true and authentic.
We are a regulated business under Fintrac and we are required to Know our client. So we must do a background check to verify that we are dealing with legitimate individuals or entities. We assure you that your data is kept confidential and not used for any other purposes. Due to the high value of precious metals, some individuals try to use it for illegal purposes. These procedures are put in place to protect the interest of all legal entities. If you have concerns about privacy or security please contact us to discuss further. To make our job easier please provide accurate information to avoid any delays in setting up your account. We do use tools to verify your information, so if we get a mismatch, it does raise certain flags that must be manually verified.
Unfortunately, we can not answer that question for you. We can give you guidance on where prices have been and general trends, but we ask you to consult your financial adviser. We can not give you advice on how to diversify your funds as each individual circumstances are different. We definitely believe in precious metals being a part of your investment portfolio. As with any investment, there are risks associated with purchasing precious metals. We will provide you with market intelligence as to trends, market developments but the decision to buy or sell is for you to make.
You have the option of paying in different methods:
- Cash in store – We accept cash payment and follow all Fintrac regulations regarding cash transactions. We will not accept on behalf of another person. This must be cash that belongs to you.
- Wire – you can send a wire from your Financial institution. We have accounts with Bank of Nova Scotia or CIBC. Once your transaction is verified, we will send you instructions. Please note that there will be a minimum 5-day hold on all incoming wires. Wires must be initiated from the same entity that is doing the transactions. If the information does not match, this will cause delays in processing your transactions.
- Draft / certified Cheque – There will be a minimum 10 business day hold on all cheques until we get the cheque cleared through our financial institution. We would require proof that the cheque was issued from your account. Please provide either a bank account statement with your name on it or a bank receipt. If we are not satisfied that the funds will clear in the allocated days, then we have the right to hold it longer.
- e-transfer / Interac Transfer – You can make multiple payments through e-transfer. As long as you are making constant payments towards your purchase, we will hold your product until payment is fully made. Please quote your order number in all the transfers. Payments must come from the same account as the person receiving the delivery of products.
- Paypal – You can make a Paypal payment but there will be an additional fee for using their service. If your account is not verified or eligible for vendor protection, we will hold goods for a minimum of 2 weeks before delivery.
We make shipment through FedEx unless otherwise instructed by the client. Our insurance will cover the shipment until an adult signs for it. For larger value shipments we can use our local armoured guard service or Brinks for out of town deliveries. If the products are available in stock, we will ship a day after we receive cleared funds. Once shipments leave our location, we will send you a tracking email so you can anticipate when your shipment will be delivered. If you have any special instructions for delivery, please email us. We will only make shipments to the same address as your billing address.
You can keep the metal with us and sell it at any time as the market moves in your favour. There is no extra cost for storage with us or to hold your metal in the pool.
Once you commit to either buy or sell, then you would have to reverse the deal and pay the difference in price. When entering into a buying or selling contract, both parties are bound by its terms. If you do not fulfill your commitment within the allowed time frame, EGR has the right to settle the deal, and it will not be responsible for any losses.
Although, we prefer to complete the entire transaction for you, we can melt your material and charge you for it separately. If you come back to refine the melted bar with us, we will refund you a portion of that fee.
If you are a registered business for HST and have been instructed by the CRA to collect HST on scrap products from refiners, then we will claim your HST. Please check with your accountant on the correct procedure for collecting and paying HST or visit the CRA website for more information.
As per EGR’s standard practices, applicable GST/HST charged to EGR on the sale of taxable unrefined metals by GST/HST-registered customers will be paid within 60 days after the Canada Revenue Agency has approved EGR’s corresponding input tax credit and the CRA has paid EGR its corresponding net tax refund arising from the GST/HST charged.