When gold prices lingered near record highs of $1,700, many who are considering Buying Gold Coins were interested to hear that the Royal Canadian Mint announced in November 2011 that it would sell the yellow metal for $20. Of course, $20 would not be able to purchase even a grain of gold. Instead of physical gold, the buyer would receive an Exchange Trade Receipt (ETR) that would be proof of the ownership of gold which would be held in the Mint. The Canadian Mint subsequently issued a statement that investors would be “entitled to redeem their ETRs for physical gold products in the form of 99.99 percent pure gold bars or coins”.

The Canadian Mint hopes to realize $250 million in sales from the initial public offering of the new ETRs under this latest Canadian Gold Reserves program. The new ETRs would compete with gold and other precious metal funds. This comes as great news for investors who may find they cannot afford to purchase an entire gold bar or even gold coins. The Canadian Maple Leaf, however, remains for those interested in buying gold coins, one of the most popular gold bullion options.

Buying Gold Coins: Four Things to Know About the Maple Leaf

The Maple Leaf gold coins are made by the Royal Canadian Mint and are the most popular Canadian gold coins. They are the official bullion gold coins of Canada and were first made in February 1979, primarily for the purpose of private ownership. Here are some things that you may need to know to make a decision to purchase a Maple Leaf gold coin:

1. Designer: The Canadian Maple Leaf was created by Walter Ott in 1979.
2. Composition: It comprises of .9999 millesimal fineness (24 karats) gold content and special issues which are .99999 fine, making it one of the purest gold coins issued across the globe. It is made from gold extracted only from Canadian mines without any hint of any other base metal.
3. Design: The design of the coin on the reverse side consists of the Canadian maple leaf and is similar to the design that can be seen on the one cent coin of Canada since 1937. This design was selected since it a national symbol of Canada and is immediately associated with Canada around the world.
4. Legal Tender Status: The Maple Leaf coins have been classified in the Mint Act as non-circulated bullion coins. However, they enjoy legal tender according to the Currency Act jurisdiction. These coins have face values of $1, $5, $10, $20 and $50 under the Royal Canadian Mint Act and Canadian Currency Act. They are available in five denominations, which are 1/20oz, 1/10oz, 1/4oz, 1/2oz and 1oz. All these sizes are in troy ounce which contain 24 karat gold.

In May 2007, the Royal Canadian Mint unveiled a Maple Leaf gold coin with a face value of $1 million. At that time, the gold content of the coin was worth more than $2 million. This coin is 50 cm in diameter and is 3 cm thick. It has a mass of 100 kg and a purity of 99.999%. This coin was designed by Stanley Witten and was primarily a promotional product. Having received a huge demand for this coin, the Canadian mint decided to accept orders and in May that year, three such coins were minted.

Maple Leaf coins which are produced by Canada are very popular in several countries, especially in the United States. This is mainly due to their purity, design and value. These Canadian bullion coins are available in palladium, silver and platinum as well as gold for those interested in buying gold coins.