OTTAWA - The Royal Canadian Mint is offering the public the unique chance to buy part of a rare collection of Canada's first gold coins, produced by the Mint from 1912 to 1914 and not seen since the outbreak of the First World War. The coins have been stored at the Bank of Canada for over 75 years after becoming part of the government of Canada's Exchange Fund Account.
The highest quality of these $5 and $10 gold coins are now being offered for sale to convert the proceeds into quality fixed income securities, while less visually appealing examples will be refined into 99.99% pure gold to liquidate the balance of the coin holdings.
"The 1912-14 $5 and $10 Canadian gold coins are at the source of the Royal Canadian Mint's reputation as a world class refiner and producer of gold coins, and we are delighted that these pieces of our history are back in the spotlight after a nearly century-long absence," said Ian E. Bennett, president and CEO of the Royal Canadian Mint.
When it opened its doors for business in January 1908 as the Canadian branch of Britain's Royal Mint, the Mint's Ottawa facility was mandated to produce Canada's circulation coinage as well as convert Canada's growing gold resources into dollar denominated gold circulation coins. From 1912 to 1914, the Mint therefore produced $5 and $10 coins of 90% pure Canadian gold and proudly displaying national symbols.
While a small number of coins bearing the date 1912, 1913 or 1914 have remained in the hands of individual collectors, the bulk of these coins were kept out of circulation at the beginning of the First World War as the government accumulated gold reserves to help finance the war effort.
Today, the Mint is offering these historical coins in highly exclusive premium hand-selected sets of all six denominations produced from 1912 to 1914, in addition to selling single coins in premium hand-selected and hand-selected quality. The proceeds of this sale, less a fixed management fee, will be returned to the Exchange Fund Account for the purchase of high credit quality, marketable fixed-income securities, in compliance with the fund's mandate.
Due to limited quantities, these products can only be ordered directly from the Mint at Mint.ca/1912gold, or by calling at 1-800-267-1871 in Canada and 1-800-268-6468 in the US.
Comments
Ryan Mills
We are selling our gold to buy banker paper? “High credit quality, marketable fixed income securities,” is code for bankster garbage. The fact that these coins were worth $10 dollars (paper)in 1912 and are worth over $1700 dollars (paper) today should be a clue. These people are criminals. Stealing our gold is a crime against the people of Canada. This amounts to an act of treason.
Ace Ventura
http://pennystockjournal.blogspot.ca/2012/12/rcm-releases-gold-coins-update.html
The prime single coins are virtually gone.