The E-Sylum:  Volume 10, Number 6, February 11, 2007, Article 27

CANADA AUTHORIZES MILLION-DOLLAR GOLD COIN?

The Times-Colonist of Canada reported a bizarre story this week,
far too soon for April Fool's Day:

"In a move some see as downright loonie, the federal cabinet has
authorized the Royal Canadian Mint to produce $1 million gold
coins for collectors with deep pockets.

"Not to mention a wheelbarrow to get the hefty thing home."

"Currently, the most expensive non-circulation coin offered by the
mint is the 2007 Gold Maple Leaf, a $1,900 memento with gold content
so pure its vulnerability to marks and scratches has generated
negative reviews among collectors.

"Mint spokesman Alex Reeves was coy about the scheme.

"'All we have, by way of this order in council (cabinet) from
government, is a green light to produce it. The very least I can
say is it's not something that's in the cards for 2007.'"

"Dennis Bevington said even if the once-bustling gold mines near
Yellowknife were still at peak production, it would take a week
for them to produce enough gold to make just one of the coins.

"Bevington joked at the estimated 1,200 ounces (34 kilograms) of
gold it would take to produce the coin if the mint establishes
the same level of purity it has for the Gold Maple Leaf.

"'You don't want it to roll out of your pocket when you sit down,
do you?' he said."

To read the complete article, see: Full Story

John Regitko, editor of the Canadian Numismatic Association E-Bulletin
obtained a comment from the Royal Canadian Mint Manager of Communications
about the possibility of such a coin. In the latest issue of the
E-Bulletin (February 9, 2007) he writes: "Alex Reeves told me that
the Mint was receiving calls from the press from around the world and
although work on it is indeed proceeding, they still have to conduct
a feasibility study and investigate the potential market demand. “We
will let the world know when we make a decision,” he added."

  Wayne Homren, Editor

	coinbooks.org Web

The Numismatic Bibliomania Society is a non-profit organization 
promoting numismatic literature. See our web site at coinbooks.org.

To submit items for publication in The E-Sylum, write to the Editor 
at this address: whomren@coinlibrary.com

To subscribe go to: https://my.binhost.com/lists/listinfo/esylum