Buying silver in Surrey, BC
Investment-grade silver is exempt from GST/HST everywhere in Canada. In Surrey, jewellery and other taxable silver items carry 5% GST plus 7% PST (12% in total), the British Columbia 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 Surrey is tax, explained below and on the British Columbia page.
Sales tax on silver in Surrey
Canada has no city sales tax, so in Surrey you pay British Columbia'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 7% PST (12% in total), charged on the full price including the making charge or premium.
We could not find a BC Ministry of Finance bulletin that addresses PST on investment bullion, so ask your dealer whether PST is charged and confirm with the Ministry before a large purchase. Jewellery is taxed at 7% PST plus 5% GST.
Full provincial rules: silver price and tax in British Columbia.
Silver in Surrey
Surrey has one of Canada's largest South Asian communities, and jewellery shops are common. Silver jewellery and sterling silverware are not investment-grade silver, so GST and PST apply to the full price.
Tax when you sell silver in Surrey
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 British Columbia'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 Surrey
- Licence: The Metal Dealers and Recyclers Act requires businesses buying 'regulated metal' to register with the Registrar of Metal Dealers and Recyclers, but gold, platinum and silver are expressly excluded from 'non-ferrous metal', so buying precious metals or jewellery is not covered by default. Buyers of second-hand jewellery are regulated by municipal business licence by-laws.
- Hold period: The provincial Act sets no hold period. Municipal by-laws do: e.g. Kelowna Bylaw 9227 makes second-hand dealers and pawnbrokers keep tagged goods unaltered and out of sight for 30 days (or up to 90 days if police direct).
- What the dealer records: Provincial Act (base metals only): description, weight and marks of the metal, date and time, value, staff name, seller's name, address, phone and ID; sent to local police; kept on site at least one year. Kelowna by-law (all second-hand goods incl. jewellery except costume jewellery): electronic register sent to the police database immediately after each purchase or pawn; kept 24 months on site and seven years in BC.
- What sellers need: Provincial Act: prescribed ID checked by the dealer. Kelowna: photo ID; no purchases from anyone under 19 or between 8 p.m. and 8 a.m.
- Who is exempt: Gold, platinum and silver are excluded from the provincial Act. Kelowna excludes dealers selling only clothing, furniture, costume jewellery, footwear, housewares and books/records.
- Jewellers: No provincial licence for jewellers found; municipal by-laws apply.
- The law: Metal Dealers and Recyclers Act, S.B.C. 2011, c. 22 (scrap/base metals only); municipal second-hand dealer and pawnbroker by-laws.
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 Surrey
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.