In 1979, the Canadian Maple Leaf was first introduced. The government guarantees purity of the gold coin and it marks it as being the official bullion coin of the country. Walter Ott was the one who paved the way for the coins introduction. He came up with the idea when he sought to find an alternative to the Krugerrand of South Africa. Since the Krugerrand was relatively rare because of all the boycotts against the policies of the civilized countries, Ott decided to come up with another alternative.
All of the Maple Leaf Coins feature gold bullion that came from the mines in Canada. The Royal Canadian Mint manufactures these coins. During the initial four years of release, the coin was minted with 99.9 percent purity. Since this coin is composed of 24 parts pure gold, virtually no other metals were used in the creation of this coin.
In 1983, the gold’s fineness increased to 99.99 percent. As of today, the fineness has increased yet again to 99.999 percent fineness. Due to how fine the coin is, the Maple Leaf is considered the purest coin throughout the history of the world. Due to its purity and extravagant quality, the coin is easy to display signs of wear and tear. It is also prone to scratches with relative ease.
During 2007, the Canadian Mint released a Maple Leaf coin that was valued at one million dollars, even though the gold content within the piece was over two million dollars at that time. This particular coin measured in at 50 centimeters in diameter and three centimeters thick. Purity in this coin was 99.999 percent for a 100-kilogram piece. Stanley Written introduced this coin as a promotional item to help provide the mint with an enhanced profile internationally. This coin was introduced as a one-off piece to help promote the introduction of the 99.999 percent pure coins offered in Canada. After numerous buyers came out and said they would manufacture the coins that people ordered and sell them for upwards of $2.5 million, people began placing orders for the coin. At the time of its introduction, there were already five confirmed orders for this coin.
Physical Characteristics of the Coin
Just like all of the other Canadian coins in circulation, it has the bust of Queen Elizabeth II on the obverse side. On the top of the coin, the legend Elizabeth II appears. Underneath the queen’s portrait are the issuance date and its denomination. During the initial coin release, the portrait on the obverse side of the coin displays a younger version of the queen. In 1990, the picture was replaced with an older portrait of the queen. The opposite side of the coin displays an engraved maple leaf, which is the national symbol of Canada. Canada is also engraved on the reverse side of the coin.
Purchasing the Coin
For numerous years, gold has long been reviewed as one of the more precious metals for investment purposes. As time passes and the crisis begins to grow amongst western countries, more and more people flock to gold as an investment to combat the uncertainty of both the economic and financial situations at large. Gold coins are one of the more tangible assets that you can feel in your bare hands. It can be easily retained, unlike other non-cash items.
Since the coins are easy to carry and ready to trade, they can easily be converted into cash. Canadian Maple Leaf coins are a valuable investment tool. The government has already vouched for the coins purity, tender value and weight. According to all of the central banks in the world, this coin’s worth is now highly recognized.
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