Now available at http://www.scotiamocatta.com/eStore
See today’s press release and their FAQ for more information.
Initial product offering: 5 varieties of gold coins (Canadian Maples from 1/20 oz. to 1 oz.), 7 gold bars (Scotiabank bars from 1/4 oz. to 5 oz.), 1 silver coin (1 oz. Canadian Maple), and 4 silver bars (from 1 oz. to 100 oz.)
Advantages over branch purchases:
- Product and price browsing 24/7
- Can buy from anywhere in Canada and ship to any registered Canadian address
- Can buy from 8:30 a.m. – 5 p.m. EST — an hour earlier and half an hour later than most branches are open on most days
- Can buy in CAD, instead of having to buy in USD
Disadvantages compared to branch visit:
- More limited product inventory
- Can’t buy platinum or palladium products
- Can’t buy gold, silver, or platinum certificates
- Can’t sell
- Have to pay GST and PST (if applicable) on the shipping costs
- Maximum purchase limit of $6000 CAD (excluding taxes, shipping) per 24-hour period
- Slower delivery time — an extra day or two
- Currently only available to Canadian residents
For price comparisons and other online buying options, see Kitco and Bullion Direct. Be sure to compare prices (including taxes and shipping), in Canadian dollars.
Platinum and palladium products now available for purchase as early as January 2010.
Maximum 24-hour purchase limit increased from $6000 to $9500 CAD, subject to change based on market volatility, according to their December 4, 2009 “Quick Facts.”