Frequently Asked Questions

Explore the present market rates and historical data of precious metals

Opening An Account

Why do you ask for my birth date and other information?

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 them 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 get in touch with us to discuss further. Please provide accurate information to avoid any delays in setting up your account. We use tools to verify your information, so if we get a mismatch, it does raise certain flags that must be manually verified.

What documents do I have to have to open an account?

For an Individual Ac:

Valid ID (Driver’s license or passport)
At the store, the customer must fill out the application form

For a Business Account:

Your Valid ID (Driver’s license or passport) and, if possible, the IDs of all others partners, shareholders, directors.
Company’s Certificate of Incorporation or equivalent document
At the store, the client must fill out the application form

Orders

When an order has been placed, can it cancel and/or change to another product?

We can’t cancel an order; we can only buy it back. Please call us at once if you can’t fulfil your order. You will be liable for any losses incurred and may lose your full deposit.

REFINING & SCRAP METALS

What materials do you usually process?

Karated Scrap
Dental Scrap
Stone Removal
Bench Sweeps
Crucibles & Slags
Scrap Silver
Polishings
Filings & Grindings
Tools
Carpet
Floor Sweeps

How long does it take to refine the material I send to Express Gold Refining?

We will refine scrap gold and settle on the same day. Other materials like dust or diamond recovery will take longer. Please call us at 416-366-4000 for more information.

Do you smelt/fuse ore?

No, we don’t.

What are your refining procedures and steps?

1- You collect your material to refine. It may be from the sweeps of your workshop, old jewellery or even scrap metal.

2- You book your appointment online and bring the material you want to refine.

3- Make sure to set up an account. If you don’t already have one, call us, and we send an application. Otherwise, you can open your account when you come to the store for your appointment.

3- We will examine your material to determine the best method to either melt it or buy it as is.

4- After evaluating/assaying the precious metals, we determine the market price for GOLD or SILVER

Please visit our Refining webpage to understand what we have to offer, or access our Refining Services and Charges webpage to understand the charges policy.

How can I figure out the value of the material I have?

Please visit the scrap calculator page for details.

If I have gold nuggets, will you melt them in gold bars?

Yes, we melt all gold into bars

After refining with you, can I sell the precious metal to you?

After we melt it, we assay it, and if we agree on the price, we can buy it from you. The price depends on two things: The metal price of the day and the Assay results.

Can I melt with you and not sell my material?

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.

Do you buy scrap from individuals?

EGR deals mainly with corporations and businesses, but we will quote on your privately owned material. The payout for individuals differs from our ongoing commercial clients. Please call us for quotes or send in a request.

Do you process/refine computer chips, circuit boards, phone cards or any other technological hardware that holds metals?

No, we do not refine computer chips, only material that can be melted.

ONLINE SALES

Do you sell bullion to individuals?

We sell all bullion to individuals at very competitive prices. You can order online or call us to reserve the price of your investment products.

PRODUCTS

Do you have minimum quantities to buy or sell?

We deal with all sizes of Lots; there is no minimum or maximum.

Are your Products Authentic?

We verify all the products we purchase with the latest 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 ensure that your purchase is genuine and authentic.

What do you think of precious metals prices?

Unfortunately, we cannot answer that question for you. We can guide you on where prices have been and general trends, but we ask you to consult your financial adviser. We cannot provide you with 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.

Do we sell 18 K, 24 K gold?

Yes, we do.

Do we sell 24 K casting grains?

Yes, we do. Price of Gold + HST

Do we sell jewellery, diamond rings and so on?

Yes, we do have jewellery like diamond rings. Please call us to get more info.

Do you manufacture Gold and Silver items?

No, we do not manufacture products.

Do you recover diamond from jewellery?

Yes, we do. The process is done chemically, so there is no chance to break any of your stones.

Do you buy coins and bills?

Only Gold and Silver coins.

Do you assay gold from rocks?

No, we do not assay gold from rock. We suggest sending it to a fire assay lab.

What is the difference between Karat and the 99.9% or 99.99% gold purity?

The karat is a fractional measure of purity for gold alloys, in parts fine per 24 parts whole. Below is a comparison chart between the karat rating and its purity:

10 Karat – Gold that is 41.7% pure.
14 Karat – Gold that is 58.33% pure.
18 Karat – Gold that is 75% pure.
22 Karat – Gold that is 91.67% pure.
24 Karat – Gold that is 99.99% pure.

PAYMENT & PRICES

How can I pay for my order at the store?

You have the option of paying in different methods:

Cash at the store – We accept cash payment and follow all FINTRAC regulations regarding cash transactions. We may request additional information or documents to clarify the source of funds. We will not accept on behalf of another person. This must be cash that belongs to you.
Debit Card – You can pay using your Debit Card at the store. No extra fees.
e-transfer / Interac Transfer – You can make multiple payments through e-transfer. If you make regular payments towards your purchase, we will hold your product until payment is entirely completed. Please quote your order number in all the transfers. E-transfers must be initiated from the same entity (person or company) that is doing the transactions. Payments must come from the same account as the person receiving the delivery of products.
Draft / Certified Cheque – There will be a minimum 10 business days 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.
Personal or Company Cheque – There will be a minimum 30 days 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.

How can I pay for my order on the website?

You don’t have min or max limit for your transactions in any method of payment:

Bank Wire – You can send a wire from your financial institution. We have accounts with the 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 (person or company) that is doing the transactions. If the information does not match, this will cause delays in processing your transactions. Wires must come from the same account as the person receiving the delivery of products.
e-Transfer / Interac Transfer – You can make multiple payments through e-transfer. If you make regular payments towards your purchase, we will hold your product until payment is entirely completed. Please quote your order number in all the transfers. E-transfers must be initiated from the same entity (person or company) that is doing the transactions. 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 (%4) 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.
Credit Card / Visa Debit Card – Even though we are using the PayPal platform for payments with a credit card or Visa debit card, you don’t have to have a PayPal account; only choose PayPal as the payment method and after clicking on “Pay with a credit or Visa Debit card.” There is an additional fee (%4) for using the PayPal service. We only accept credit cards issued in Canada, and for those accepted, it may take 5 business days for the customer to pick up the order or for us to deliver it.

If the prices change in my favour, can I change my mind?

Once you commit to either buy or sell, you would have to reverse the deal and pay the price difference. 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.

What is your policy on paying HST?

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.

How can I participate in the market price?

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.

What types of payments do we accept?

Cash (at the store)
Wire or Draft
PayPal or Credit Card (There is a charge of 4% on the total)

Do you accept International Credit Cards?

No, we only accept credit cards issued in Canada.

How much is the down payment in an online purchase? Why do I have to pay for it?

You must pay a 10% max of $100 via PayPal to hold the price.

Can I make the total payment via e-transfer?

Yes, you can. However, you must be aware of the limits sets by your bank. If your order exceeds your daily limit, you can split your payments into multiple payments.

Does the “wire” payment included Interact e-transfers?

Yes, it does include.

Are EGR considered as billing/payee on online banking options?

No, we only accept Interact e-transfers.

If I pay in cash does the price be less?

No, the price is the same.

During the weekends, can I lock a product price on the website by paying the down payment?