How Much Gold is in Canadian Gold Maple Leaf Coins?
The Canadian Gold Maple Leaf coins were the world’s first 0.999 fine or 24 carat pure bullion gold coin when it launched in 1979. The most recent version of the Canadian gold bullion coin has a gold content of 99.99%, making it almost pure 24 carat gold. The purity or fineness and authenticity of the bullion coin is backed by and guaranteed by the Canadian government.
The Maple Leaf gold coin has a weight of exactly 1 troy ounce or 31.103 grams - meaning that there is almost exactly one troy ounce of pure gold in each 1 oz Maple Leaf Gold Coin.
Learn more before making your Purchase: What are Gold coins?
What is the Description of a Gold Maple Coin?
The Canadian Maple Leaf gold bullion coins (1 oz) have a diameter of 30mm and a thickness of 2.87mm.
The front or obverse of the coin has the head of Queen Elizabeth II, surrounded by the words “ELIZABETH II” and “50 DOLLARS”, as well as the year of issue. The Queen is the Canadian Monarch in addition to being the Queen of England.
On the reverse of the coin is a highly detailed near proof quality representation of a Maple Leaf, Canada’s national emblem.
To each side, the fine gold content 9999 is specified, with “CANADA “in a circular inscription across the top, and “FINE GOLD” “1 OZ OR PUR” in French, below. Interestingly, “Maple Leaf” is not written anywhere on the beautiful bullion coin.
What is the History of the Canadian Gold Maple Leaf Coin?
The idea of a 1oz gold Maple Leaf coin was first was studied by Canadian government officials from as early as 1977. The motivation was that it would create a source of demand for Canadian mined gold and compete with South Africa’s 1oz gold Krugerrand coin.
In fact, the Canadian federal cabinet specified that the Maple Leaf had to be minted from gold mined within Canada.
Originally the Canadian Gold Maple Leaf was planned to be minted on a three-year trial basis with a production of 5 million over 3 years, 1 million coins in 1979 and 2 million in each of 1980 and 1981. The Maple Leaf was aimed at both the international and Canadian markets with 4 million of the original 5 million planned production coins being targeted at the US and European markets, and within Europe, the West German market was earmarked for a 1.6 million allocation.
The Maple Leaf proved so popular that in 1981 the Canadian Government renewed legislation to continue production of the coin. When the Maple Leaf was launched in 1979 it had a fineness of .999 or 99.9% gold. This was, at the time, the highest gold content of any bullion coin ever produced, since other gold coins were typically 22 carat, with a fineness of .9167. In 1982, The Royal Canadian Mint went one step further and improved the purity to a fineness of .9999 gold. All Gold Canadian Maple Leafs produced since 1982 are 99.99% pure gold.
What is the History of the Royal Candian Mint?
The Canadian Gold Maple Leaf is manufactured by one of the best-known mints in the world which is owned by one of the most natural resource-rich countries in the world. The Canadian Government as owner of The Royal Canadian Mint guarantee the authenticity and purity of all Gold Maple Leafs produced by the Mint.
The Royal Canadian Mint (RCM) has operated as a Canadian Crown Corporation since 1969. It has an independent board of directors but is fully owned by the Canadian Government and operates under Canadian legislation.
Originally the RCM was a branch mint of the British Royal Mint when it first opened in Ottawa in 1908. The RCM produces circulating coinage for Canada and other countries at its Winnipeg branch and operates the world-famous gold and silver refinery in Ottawa, where it produces high-quality bullion bars and coins.
The RCM is a member of the London Bullion Market Association’s good delivery list for both gold and silver good delivery bars, and CME’s Comex exchange recognises The Royal Canadian Mint on its approved refinery list for gold bars.
Why Buy Gold Canadian Maple Leaf Coins?
The Canadian Gold Maple Leaf is the highest purity 1oz gold coin on the market, with a .9999 fineness making an investment in a Maple Leaf an investment in pure gold. It is good for exposure to the gold price but more importantly, they provide the diversification and financial insurance benefits of physical gold bullion.
The coin is very well known in the UK and internationally and more recently, the coins have become popular in Asia. There is, therefore, a well-developed trading network internationally for buying and selling the Maple Leafs.
Thus, the secondary market for Gold Maple Leafs is very liquid given that tens of millions of 1oz Maple Leaf coins have been produced in nearly forty years. The high liquidity means premiums over the spot price and the spread are competitive.
The 1oz denomination makes Maple Leaf very easy for investors to value and price using the internationally quoted spot price of gold.
The Maple Leaf, since it’s a 1oz coin, is portable and easy to store, and the small denomination brings benefits of divisibility such as being able to sell part of your gold holding, without selling an entire gold portfolio.
GoldCore has supplied the best price Canadian maple leaf gold coinsto British investors since our inception in 2003.
