RRSP gold investing is now easy, but it may not be the best way for you to invest in gold or to save for your retirement.
The 2005 Canadian federal budget made investment-grade gold and silver coins, as well as gold or silver bullion bars, eligible to be held in an RRSP. To be considered investment grade, gold coins must be at least 99.5% pure, and silver coins must be at least 99.9% pure. As well, only legal-tender coins produced by the Royal Canadian Mint are eligible for RRSP gold investing.
When RRSP gold investing, we suggest avoiding buying gold bullion, gold coins (unless you collect them as a hobby) or certificates representing an interest in bullion. That’s because commodity investments such as gold bullion do not generate income. Instead, they come with a continuing cash drain for management, insurance, storage and so on.
Bullion bars are eligible for RRSP gold investing, as long as they are produced by a metal refinery that is accredited by the London Bullion Market Association. Accredited metal refineries include the Royal Canadian Mint and Johnson Matthey.
However, to hold the coins or bullion bars in your RRSP you need to find a third-party custodian of your coins or bars who will verify that you indeed hold the amount of bullion claimed, and report that to the Canada Revenue Agency on your behalf.
For the best overall portfolio returns, we recommend following TSI Network and using our three-part Successful Investor strategy:
Invest mainly in well-established companies;
Spread your money out across most if not all of the five main economic sectors (Manufacturing & Industry; Resources & Commodities; the Consumer sector; Finance; Utilities);
Downplay or avoid stocks in the broker/media limelight.
Investing in gold: gold shares, gold bullion or gold in your RRSP—which is best?
At TSI Network, we’ve long recommended that you stay away from buying gold bullion, coins (unless you collect them as a hobby) or certificates representing an interest in bullion. If you are… Read More
Before we discuss ways you might include gold investing in your RRSP, let’s look more closely at price fluctuations.
Gold is the only commodity that rarely if ever gets permanently lost or consumed. This means that virtually every ounce of the metal that has ever been produced may one… Read More
There are many ways to invest in gold. But we think the best gold stocks are your safest bet.
We recommend that gold investments only make up a limited portion of your portfolio’s resources segment.
However, if you want to hold gold shares, then here are some… Read More
There’s no limit to the range of gold investment questions that members of Pat McKeough’s Inner Circle–although the answers in May 2016 are consistent with those we offered a decade ago. Here’s one recent question from an Inner Circle member.
Learn how to buy gold as an investment in your RRSP
As a rule, we recommend that you hold investments like gold separately and not within your Registered Retirement Saving Plan (RRSP).
That’s because, if you hold speculative investments like gold inside… Read More
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