The Canadian Gold Maple Leaf is the official bullion gold coin of Canada, and is produced by the Royal Canadian Mint. The brainchild of Walter Ott, it is one of the purest gold regular-issue coins in the world with a gold content of .9999 millesimal fineness (24 carats), with some special issues .99999 fine. That is, it contains virtually no base metals at all—only gold, from mines in Canada.
The coin was introduced in 1979. At the time the only bullion coin was the Krugerrand, which was not widely available because of the economic boycott of apartheid-era South Africa. Coins minted between 1979 and 1982 have a gold content of .999.
The coin is offered in 1⁄25 oz., 1⁄20 oz., 1⁄10 oz., 1⁄4 oz., 1⁄2 oz., and 1 oz. denominations and is guaranteed to contain the stated amount (in troy ounces) of .9999 fine gold (24- carat). The coins have legal tender status in Canada for their face values ($1, $5, $10, $20 and $50), subject to the Canadian Currency Act and the Royal Canadian Mint Act. Although categorized as "non-circulating bullion coins" in the Mint Act, these coins are still legal tender under the Currency Act.
The 1⁄20, 1⁄10, 1⁄4, and 1⁄2 troy ounce coins are identical in design to the one-troy-ounce coin, except for markings on the obverse and reverse sides indicating the weight and face value of the coin. In 1994, 1⁄15 oz. ($2.00 face value) gold and platinum coins were issued, possibly for use in jewellery. They were not very popular, and 1994 remains the only year in which 1⁄15 oz gold and platinum bullion coins were produced.
Starting in 1988 Maple Leaf coins have also been struck in .9995-fine platinum, having the same weights and face values as the gold coins. Since 1988, a one-ounce .9999-fine silver Maple Leaf has also been struck, with a face value of $5. In 2005, a .9995-fine palladium Maple Leaf 1 oz coin was introduced, with a face value of $50. This palladium coin is subject to the federal Goods and Services Tax in Canada.
On May 3, 2007, the Royal Canadian Mint unveiled a Gold Maple Leaf coin with a face value of $1 million, though the gold content was worth over $2 million at the time. It measures 50 cm in diameter by 3 cm thick and has a mass of 100 kg, with a purity of 99.999%. The artist is Stanley Witten. The coin is mainly a promotional product, to give the mint a higher international profile. The hundred-kilogram coin was conceived as a one-off showpiece to promote the mint's new line of 99.999-percent-pure one-ounce Gold Maple Leaf bullion coins, but after several interested buyers came forward the mint announced it would manufacture them as ordered and sell them for between $2.5 and $3 million. As of May 3, 2007 (2007 -05-03) there were five confirmed orders.
All weights are in troy ounces.
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Famous quotes containing the words leaf, maple, canadian and/or gold:
“Thus it seemed that this one hillside illustrated the principle of all the operations of Nature. The Maker of this earth but patented a leaf. What Champollion will decipher this hieroglyphic for us, that we may turn over a new leaf at last?”
—Henry David Thoreau (18171862)
“We had not gone far before I was startled by seeing what I thought was an Indian encampment, covered with a red flag, on the bank, and exclaimed, Camp! to my comrades. I was slow to discover that it was a red maple changed by the frost.”
—Henry David Thoreau (18171862)
“Were definite in Nova Scotiabout things like ships ... and fish, the best in the world.”
—John Rhodes Sturdy, Canadian screenwriter. Richard Rossen. Joyce Cartwright (Ella Raines)
“The enquiring fields, courtesies
And tribulations of the air
Be still and give them peace:
The girl in the gold hair
With her young man in clover
In shadow of the days glare ...”
—Allen Tate (18991979)