Canada is getting a $50 coin made of pure gold and it's dazzling (PHOTOS)
Canada is about to get a $50 coin made of pure gold, but you won’t be able to get your hands on them that easily.
The Royal Canadian Mint unveiled the dazzling new coin on Wednesday in partnership with the world’s leading gold producer, Newmont Corporation.
It was made in response to more demand for greater transparency about the origins of precious metals.
“With this new single mine coin, made of directly traceable gold from Newmont’s ÉlĂ©onore mine to our gold refinery in Ottawa, we are demonstrating continued excellence in terms of precious metal sourcing, refining, and manufacturing,” said Marie Lemay, president and CEO of the Royal Canadian Mint, in a news release.
The 2023 $50 1 oz 99.99% Pure Gold Maple Leaf Singe-Sourced Mine bullion coin is made entirely of the precious metal sourced from Newmont’s ÉlĂ©onore gold mine in northern QuĂ©bec and is expertly refined by the Mint.
The Royal Canadian Mint
The pure gold definitely shines through the design of the coin.
Its reverse (tails side) features a detailed engraving of a sugar maple leaf, which is a hallmark of the Mint’s series of Maple Leaf bullion coins.
The background is an array of precisely machined radial lines, bringing your focus toward the intricate maple leaf.
Underneath is a micro-engraved maple leaf-shaped security mark with the number 23, which is only visible under a magnifying glass. It marks the year the coin was issued.
Across from the security mark is a privy mark of a hand cradling a globe, symbolizing the single-source origin of the coin’s 99.99% pure gold.
The Royal Canadian Mint
This precious metal coin is also protected by Bullion DNA technology.
If you want to add it to your collection, it’ll take more than going to the Mint’s site.
There will be a limited stock of this coin at the Mint’s Ottawa and Winnipeg boutiques. Other than that, the crown corporation says it does not sell bullion directly to the public.
“This practice is consistent with the distribution model common to the world’s major issuers of bullion coins,” said the Mint. “Interested buyers are encouraged to contact a reputable bullion dealer to order new bullion coins.”
It’ll also cost you more than $50.
While the Mint hasn’t disclosed the price of this specific coin, this $359 pure gold coin from the Maple Leaf bullion series gives you a glimpse at how much it could cost.
If you are able to get your hands on it, it’ll be packaged with a certificate of purity and authenticity signed by the Mint’s chief assayer.
The Royal Canadian Mint
Official bullion distributors will also sell this coin in tubes packed in 500-coin boxes. The Mint did not provide a date for when it’ll go on sale.
Not everyone has hundreds of dollars of cash lying around to buy a pure gold coin.
If you’re one of those people, not to worry. There’s also a new toonie circulating with the design of one of Canada’s most influential artists, and it could land in your wallet — for free!
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