The Canadian Gold Maple Leaf is the official bullion gold coin of
Canada and is produced by the Royal Canadian Mint. The brainchild of
Walter Ott, it is one of the purest gold coins of regular issue in the
world, with a gold content of .9999 millesimal fineness (24 carats),
with some special issues .99999 fine. That is, it contains virtually no
base metals at all – only gold exclusively from gold mines in Canada.
The coin was first introduced in 1979. At that time, the only available
bullion coin was the Krugerrand, which was not widely available because
of an economic boycott of apartheid-era South Africa. Coins minted
between 1979 and 1981 have gold content of .999.
The coin is offered in 1/20 oz, 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz
denominations and is guaranteed to contain the stated amount (in troy
ounces) of .9999 fine gold (24 carat). The coins have legal tender
status in Canada, but as is often the case with bullion coins, the face
values of these coins (C$1, C$5, C$10, C$20 and C$50) are purely
symbolic and are much lower than their market value.
The 1/20, 1/10, 1/4, and 1/2 troy oz coins are identical in design to
the 1 troy oz coin except for the markings on the obverse and reverse
sides that indicate the weight and face value of the coin. In 1994,
1/15 oz ($2.00 face value) gold and platinum coins were issued,
possibly for use in jewelry. They were not very successful, and so 1994
remains the only year in which 1/15 oz gold and platinum bullion coins
were produced.
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