Buying silver in Saskatoon, SK
Investment-grade silver is exempt from GST/HST everywhere in Canada. In Saskatoon, jewellery and other taxable silver items carry 5% GST plus 6% PST (11% in total), the Saskatchewan rate.
Silver has one national spot price in Canadian dollars: the prices on this page are the same as on the silver price in Canada page. What differs in Saskatoon is tax, explained below and on the Saskatchewan page.
Sales tax on silver in Saskatoon
Canada has no city sales tax, so in Saskatoon you pay Saskatchewan's rates. Investment-grade silver (silver of at least 99.9% purity, in bars, wafers or coins) is exempt from GST/HST. Sterling silver, 90% and 80% silver coins and collector coins sold above their metal value, and silver jewellery and sterling silverware carry 5% GST plus 6% PST (11% in total), charged on the full price including the making charge or premium.
Since 1 September 2016 Saskatchewan's PST does not apply to gold and platinum of at least 99.5% or silver of at least 99.9% purity in bar, ingot or wafer form, or to government-issued coins of that purity; collector coins sold above face value and metal below that purity are taxed at 6% (PST bulletin PST-32).
Full provincial rules: silver price and tax in Saskatchewan.
Silver in Saskatoon
Saskatoon is Saskatchewan's largest city and the base of many of the province's mining companies.
Tax when you sell silver in Saskatoon
When you sell, the CRA usually treats a profit on bullion held as an investment as a capital gain: half of the gain is added to your income and taxed at your federal and provincial rates (the 2024 proposal to raise the inclusion rate to two-thirds was cancelled in March 2025). Frequent trading can make profits fully taxable business income. The provincial part of your income tax is Saskatchewan's, at your provincial marginal rate. Sales tax does not apply when you sell bullion to a dealer.
Selling silver or jewellery to a dealer in Saskatoon
- Licence: Licensing is municipal. Example: Regina's Licensing Bylaw No. 2006-86 has licence categories for coin dealers, pawnbrokers and secondhand dealers; each owner and employee needs a Certificate of Approval from the Chief of Police (renewed within 12 months for pawnbrokers and secondhand dealers, every five years for coin dealers).
- What the dealer records: Regina: coin dealers, pawnbrokers and secondhand dealers must keep a registry; pawnbrokers record and report pawn transactions electronically under The Pawned Property (Recording) Act; secondhand dealers report manually or electronically.
- Jewellers: No provincial jeweller licence found.
- The law: The Pawned Property (Recording) Act (provincial, electronic recording and reporting of pawn transactions, as cited by Regina); City of Regina Licensing Bylaw No. 2006-86.
Federal rules (FINTRAC): Dealers in precious metals and stones (DPMS) become reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act when they buy or sell precious metals, precious stones or jewellery worth CAD 10,000 or more in a single transaction. They must run a compliance programme (compliance officer, written policies, risk assessment, training, two-yearly effectiveness review) and verify client identity for large cash, large virtual currency and suspicious transactions.
Quality marks: Quality marking of gold, silver, platinum and palladium articles is voluntary, but any mark used must be truthful and meet the standards and tolerances in the Precious Metals Marking Act and Regulations.
Buying and selling in Saskatoon
Dealers in precious metals and stones must verify your identity for purchases of $10,000 or more and report cash transactions of $10,000 or more to FINTRAC. Dealers sell Maple Leafs and bars at a premium over the spot price shown here and buy back a little under it; compare a few dealers' buy and sell prices on the same day.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.