How silver is priced in Canada
Canadian dealers quote silver in dollars per troy ounce, with bars commonly sold in 10 oz, 100 oz and 1 kilo sizes; scrap and jewellery buyers work per gram. The prices on this page are international spot silver converted at today's USD/CAD rate — the metal value before dealer premiums and any GST/HST.
GST/HST: exempt only at 99.9%
Under the Excise Tax Act, a bar, ingot, coin or wafer of silver refined to at least 99.9% purity is "precious metal" (gold and platinum need only 99.5%), and its sale is exempt from GST/HST. Silver Maple Leafs and most 999 and 9999 bars qualify. Silver below that line is taxable at your province's GST or HST rate when sold by a registered business — sterling jewellery and silverware, and old 80% or 50% circulation coins. Those coins are not treated as "money" either, because the Act excludes currency worth more than its face value.
The Silver Maple Leaf
The Royal Canadian Mint has struck the Silver Maple Leaf since 1988. The 1 oz bullion coin is 99.99% pure, 38 mm across, with a $5 face value, and current issues carry King Charles III. It is one of the most secure bullion coins: precisely machined radial lines that diffract light, a laser micro-engraved maple leaf showing the two-digit year under magnification, Bullion DNA die registration for coins dated 2015 onwards, and MintShield surface protection against white spots from 2018. The Mint sold 11.7 million ounces of silver bullion in 2025.
Pre-1967 Canadian silver coins
Canadian "junk silver" is 80% silver, not the 90% of pre-1965 US coins. Dimes (2.33 g), quarters (5.83 g), half dollars and dollars (23.33 g) from 1920 to 1966 are all 80% silver; earlier coins were sterling, 92.5%. In summer 1967 the dime and quarter were cut to 50% silver, so 1967 exists in both alloys, and in 1968 silver was replaced by nickel, leaving some 1968 dimes and quarters at 50%. Melt values for the common pieces are in the coin table above.
Sterling and quality marks
Canada has no compulsory hallmarking. Under the Precious Metals Marking Act, marking an article's quality is voluntary, but any silver quality mark — "sterling", "silver", "argent", ".925" or "925" — means the article contains at least 92.5% silver. A piece with a quality mark must also carry a Canadian trade mark that is registered or applied for, identifying who stands behind it. Silver-plated pieces have little melt value. To estimate the metal in a sterling item, weigh it and use the 925 setting in the calculator.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.