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Introduced in 1979, the Gold Maple Leaf coin has established itself as the world’s most popular 24 karat bullion coin.
The obverse portrays the effigy of Queen Elizabeth II. The reason for picturing Her Majesty the Queen stems from Canada’s membership of the United Kingdom’s Commonwealth of Nations. By being a member of the Commonwealth, Canada has Queen Elizabeth II as its reigning constitutional monarch. Above the Queen’s effigy is her name “ELIZABETH II” and inscribed at the bottom of the coin is the nominal face value of 50 dollars and the year of mintage.
The reverse depicts Canada’s national symbol, the Maple Leaf, and above it the text “CANADA”. On each side of the Maple Leaf are four nines visible, underneath the tiny security mark is engraved and likewise the text “FINE GOLD 1 OZ OR PUR”, where the latter part of the sentence means “1 ounce of pure gold”.
The price of Canadian Gold Maple Leafs is determined by their 24 karat gold content
The introduction of the 24 karat Gold Maple Leaf coin in 1979 by the Royal Canadian Mint marked a major change in the investment gold production industry. Until 1979, all popular gold coins were made with alloys containing other metals. The reason gold coins have been minted for centuries in this manner is because pure gold is exceptionally soft, thus coins made out of pure gold would be unfit for circulation since they would be prone to dents and scratches. The idea behind introducing the Gold Maple Leaf coin was the belief that investors would in the future rather hoard physical gold as a form of long-term savings than use it for settling commercial transactions, thus the need for handling would become unnecessary. To some extent this assumption has proven to be correct since in recent years the global sales of legal tender 24 karat gold coins have outpaced the sales of similar gold coins of 22 karats. Although the Gold Maple Leaf was the world’s first gold coin to be exclusively made of pure gold, the coin originally contained a purity of only .999. By witnessing the success of the coin, the Royal Canadian Mint decided to make another world first by improving the coin’s purity to a gold fineness of four nines. After 1982, all minted Gold Maple Leaf coins have reached a purity of .9999.
|1 oz Canadian Maple Leaf Gold Coin||Gold weight|
|Weight||Nominal||Diameter in mm||Sample||Weight in g||Grams||Ounces|
|1 oz||50 dollars||30||24 karat||31.10659||31.10348||1|