Gold Coins Canada
In the Eastern Townships of Quebec, along the Rivière Chaudière, the first gold in Canada was discovered in 1823. This precious metal has an interesting history in our country, and Canadian gold coins are still being minted today. Many of these coins today are minted with commemorative art that honours aspects of Canada's culture and history. To truly understand why collectors seek out gold coins it is helpful to know more about gold in Canada and how its value and availability have shifted over time.
The History of Gold Production in Canada
While some of Canada's gold comes from base-metal mines, the majority of it is extracted via open-pit and hard-rock underground mines. For years after gold was first discovered, several gold rushes led to massive increases in gold production. By 1941, Canadian mines were producing as much as 166 tonnes in a good year. However, the costs of production continued to rise faster than the value of gold, which led to a decrease in production until 1970.
This was the year when international economic policy changes led to gold skyrocketing in value. Another "gold rush" of a sort happened after that, with Canada seeing a resurgence of exploration and mining. This culminated in 1981 with the discovery of the Hemlo deposit in northern Ontario. As usually happens with mines, however, these new ones began to dry up with time, which led to a sharp decrease in production. As less and less gold was being produced, it started to become more valuable. New mines are still being discovered, but today gold is more valuable than it has ever been, and it continues to gradually rise.
How Gold Maintains Its Value
For a long time, countries fixed the value of their currencies to weights in gold, meaning that the value of gold remained stable in proportion to the inflation and deflation of these currencies. After the gold standard was dropped, this freed the process of inflation from proportionality with gold. Without the standard, currencies can inflate while gold maintains its value. The same amount of gold is worth much more now than it was 10 years ago mainly because the value of the Canadian dollar has dropped, as happens with all currencies during inflation. Gold is thus an excellent investment for anyone who wants capital that maintains its value even through recessions and economic collapses. Here are the things that you should consider when investing in Royal Canadian Mint gold coin. Read here.
Gold Coins Canada Collectors Will Love
Gold coins minted today can be just as pure as their antique counterparts. Modern minting techniques allow coins to be minted with 99.999% purity, and other unique properties can be added to the coins as well. Consider the Fractional Pure Gold Set recently released. Not only does this set of coins come with unique art on both sides of every coin, but they are also minted with a special hologram on the reverse proof.
When you turn the coin side-to-side, the holographic colour shift dynamically refracts across all of the coin's features. These coins put a modern spin on Canadian gold coins while also looking back respectfully at our nation's history. Each piece features a sugar maple in commemoration of coins minted between 1876 and 1901 that always had maple leaves in their designs. The obverse side displays an effigy of Her Majesty Queen Elizabeth II.
Limited Releases Make Perfect Collectibles
Another thing that makes coin collecting rewarding and fulfilling is the rarity of some of these coins. Consider the recent collection of coins from the Royal Canadian Mint made in honour of the toonie. This set, which reflects upon the point in Canada's history when the two-dollar banknote was replaced with the toonie, only has 150 units struck. Coin sets like these are more valuable when kept together, and full sets can only be in the possession of 150 people at most.
Buying from Reliable Vendors
Even if you are more excited about gold coins than ever before, make sure to hold your horses before going off to make your investments. Some dealers sell only partial coin sets, and even worse, some could be selling counterfeits. You want to find a reputable dealer with years of a solid reputation in the market. We at Colonial Acres Coins pride ourselves on our flawless record. See our selection of rare and historic Canadian gold coins today.