Today, the Royal Canadian Mint has announced the sale of the surviving samples of the first gold coins ever minted in Canada. These rare 1912-1914 series of $5 and $10 Canadian Gold Coins have spent nearly 100 years in the vaults of the Bank of Canada as part of the nation's gold reserve.
First produced in 1912, these coins were the first gold coins minted in Canada. Their circulation was short-lived, as the outbreak of World War I meant that the Canadian government needed gold bullion to finance their war efforts. All the circulating coins were gathered up and, along with all the unreleased coins that were already minted, were locked in the vaults of the Bank of Canada. Until today, that is.
Ottawa, Ontario, November 28, 2012 – The Royal Canadian Mint is delighted to put a national treasure back in the hands of Canadians by offering the public the unique chance to buy part of a rare collection of Canada’s first gold coins, produced by the Mint from 1912 to 1914 and not seen since the outbreak of the First World War. Stored at the Bank of Canada for over 75 years after becoming part of the Government of Canada’s Exchange Fund Account, the highest quality of these $5 and $10 gold coins are now being offered for sale to convert the proceeds into quality fixed-income securities, while less visually appealing examples will be refined into 99.99% pure gold to liquidate the balance of the coin holdings.
The Royal Canadian Mint has hand-selected the best of the approximately 245,000 gold $5 and $10 coins for individual sale as well as in various sets. The premium-selected 1912 $10 gold coin will only be available as part of a six-coin set.[youtube http://www.youtube.com/watch?v=3nzLTAqzVsA]
Due to the historical value and limited number available, these coins will only be sold directly through the Royal Canadian Mint. The coins which did not pass inspection will be melted down and used to mint new .9999 gold coins.