Canada’s Royal Canadian Mint has launched a .99999 fine 1-oz Gold `Maple Leaf coin. The new coin will not replace the Mint’s standard .9999 Gold Maple Leaf coin but is a limited edition coin that basically is being produced to exhibit the RCM’s engineering excellence in coin minting. Producing .99999 is a difficult task that indeed requires engineering excellence.
$1 million gold coins for sale
To kickoff the new coin, the RCM also is producing a limited number of 100 kilogram $1 million gold coins for sale to a few collectors who expressed interest in the coins. Production of the 100 kg coins is clearly a promotional ploy designed to draw attention to the RCM products, sales of which have faltered as problems with the coins’ designs have surfaced.
However, it appears that the Mint has come up with great packaging for its new 1-oz .9999 fine Gold Maple Leafs. The coins will be suspended on 4″ X 6″ cards, much as one-ounce gold bars are packaged. However, the protective plastic will be much heavier, and to keep the edges from cutting through the plastic, the new coin features a 12-sided flat edge and interrupted serrations.
(No photo of the coin in its packaging has been released, although one is expected soon. When it is released, we will post on our new blog. Or, perhaps the photo will be inserted in this article.)
A new, elegant maple leaf design graces the reverse, and the reverse design will change with each annual issue. Presently, it looks like the five 9s 2007 dated 1-oz Gold Maple Leaf will be the first in a three-year series, but that is not guaranteed. So far, sales of the new coin have been good and if sales continue to be good, the Mint will be tempted to produce .99999 coins after three years.
The new .99999 fine 1-oz Gold Maple Leaf will carry a $200 face value, whereas the .9999 1-oz Gold Maple Leaf has a $50 face value.
Limited number of 1-oz .99999 fine gold coins for sale
Although production will be limited, the Mint has not set a specific number and has said that it will not release mintages after it has ceased production of the coins. From our perspective, there does not appear to be a good reason for keeping the mintages secret. We have been told, though, what really limits the number of coins minted is the amount of .99999 gold the Mint can turn out. The guesstimate is 30,000 coins.
Buyers can expect to pay about 1% more for the new .99999 Gold Maple Leaf coins than they now have to pay for the RCM’s standard .9999 1-oz Gold Maple Leaf coins. Ordinarily, the minimum first-time purchase of gold at CMIGS is five ounces. However, for a limited time we will waive the minimum for those buyers who want to buy less than five coins.