Royal Canadian Mint promotes new line of 99.999% pure gold bullion coins by unveiling world's purest, largest and highest denomination gold coin

The Honourable Lawrence Cannon, Minister of Transport, Infrastructure and Communities and Minister responsible for the Royal Canadian Mint (left) and Ian E. Bennett, President and CEO of the Royal Canadian Mint today unveiled the world's first 100-kg, 99999 pure gold bullion coin with a $1 million face value, as well as the 99999 pure one-ounce Gold Maple Leaf bullion coin. (CNW Group/Royal Canadian Mint)


    100-kg, 99999 pure gold bullion coin with a $1 million face value is
    issued as flagship of the Royal Canadian Mint's new line of one-ounce,
    99.999% pure Gold Maple Leaf bullion coins

    OTTAWA, May 3 /CNW Telbec/ - The Royal Canadian Mint (RCM) today proudly
introduced two exciting new products to the international gold bullion market:
the world's first 100-kg, 99999 pure gold bullion coin with a $1 million face
value and a 99999 pure one-ounce Gold Maple Leaf bullion coin. These coins,
representing the highest achievement in gold purity in the bullion market,
were unveiled at the RCM's Ottawa facility, where the coins were made.
    The 100-kg, 99999 pure gold bullion coin with a $1 million face value was
originally conceived as a unique showpiece to promote the RCM's new line of
99999 pure one-ounce Gold Maple Leaf bullion coins. After several interested
buyers came forward, the RCM decided to make a very limited quantity available
for sale.
    The 99999 pure one-ounce Gold Maple Leaf bullion coin joins the existing
family of Gold Maple Leaf products which are internationally renowned for
their purity and quality. It is being released for general sale to the public
after a successful trial production of a 99999 pure gold bullion coin and
positive marketplace reaction. Although this coin presents a new standard in
investment products, there are currently no plans to replace the 9999 pure
Gold Maple Leaf bullion coins.
    "The Royal Canadian Mint has long been recognized as one of the most
innovative in the world, with a tradition of technical perfection and superior
craftsmanship," said the Honourable Lawrence Cannon, Minister of Transport,
Infrastructure and Communities and Minister responsible for the Royal Canadian
Mint. "These new 99.999% pure Gold Maple Leaf bullion coins now take Canada's
reputation in the gold bullion industry to an unprecedented level."
    "The Royal Canadian Mint operates in a very competitive environment,
which is especially true of the international gold bullion market," said Ian
E. Bennett, RCM President and CEO. "Our 100-kg and one ounce 99999 pure gold
bullion coins are an achievement which separates the RCM from a large field of
competitors. By producing the best quality products in the world, the RCM is
enhancing its global reputation for excellence."
    The Gold Maple Leaf bullion coin was first launched in September 1979, as
a one ounce investment coin, the first coin to be struck of pure gold. The
Gold Maple Leaf coin was 999 pure until 1982, when its purity was raised to
9999, setting a new benchmark for gold bullion coins. The RCM has maintained
its tradition of leadership in the gold bullion industry by raising the bar
once more, to 99999.
    Gold Maple Leaf coins are distributed through an extensive network of
bullion dealers and offer investors a simple and easy way to add precious
metals to their investment portfolios. Interested buyers seeking additional
information about these new investment products are invited to visit the RCM
web site at www.mint.ca or to call 1-866-677-1477.
    The reverse of both these coins features an elegant maple leaf designed
by RCM artist and Senior Engraver Stan Witten and the obverse bears the effigy
of Her Majesty Queen Elizabeth II by celebrated Canadian portrait artist
Susanna Blunt.

    The Royal Canadian Mint, an ISO 9001-2000 certified company, is the Crown
Corporation responsible for the minting and distribution of Canada's
circulation coins. In operation since 1908, the Royal Canadian Mint is
recognized as one of the largest and most versatile mints in the world,
offering a wide range of specialized, high quality coinage products and
related services on an international scale. For more information on the Royal
Canadian Mint, its products and services, visit www.mint.ca.BULLION EXPLAINED
                              -----------------Precious metals in bulk form are known as bullion, and are traded on
commodity markets. Bullion metals may be cast into ingots, bars and wafers, or
minted into coins. The defining attribute of bullion is that it is valued by
its mass and purity rather than by a face value as currency. Several nations
compete with Canada in the minting of gold bullion coins, including the
U.S.A., South Africa, Austria and Australia. Although some offer gold bullion
coins of 99.99% purity, Canada is the first and only country to sell gold
bullion coins of 99.999% purity.

    BULLION GLOSSARY
    ----------------

    ASSAY: The testing of gold or silver to determine its fineness or purity.

    BULLION COINS: Contemporary precious metal coins minted by official
    agencies in unlimited numbers for investment purposes. A legal tender
    coin whose market price depends on its gold content, rather than its
    rarity or face value.

    CARAT OR KARAT: A measure of the proportion of gold in an gold alloy, on
    the basis that 24 karats is pure gold, often expressed as K or k (e.g.,
    22k is roughly 92% pure gold). This scale indicates the measurement of
    purity in gold, from 1 to 24. One karat is therefore 1/24 (or just over
    4%) pure gold.

    FACE VALUE: The value struck on all legal tender coins. As legal tender,
    a 1-oz. Gold Maple Leaf gold bullion coin has a face value of $50, but is
    sold at a price based on the current market value of one ounce of pure
    gold.

    FINENESS: The purity of a precious metal measured in 1,000 parts of an
    alloy: a gold bar of .995 fineness contains 995 parts gold and 5 parts of
    another metal. For example: a Canadian Maple Leaf has a fineness of
    .9999, meaning that it is 99.99% pure.

    FINE WEIGHT: The weight of gold contained in a bar, coin or bullion as
    determined by multiplying the gross weight by the fineness.

    INTRINSIC VALUE: The value of a coin's metal content.

    LBMA: The London Bullion Market Association was formally incorporated in
    December, 1987 to represent the interests of the participants in the
    wholesale bullion market and to encourage the development of the London
    market in every possible way.

    LBMA GOOD DELIVERY LISTS: Lists of acceptable refiners of gold and silver
    whose bars meet the required standard (of fineness, weight, marks and
    appearance) of the London Bullion Market Association.

    MARKET VALUE: The price at which a coin or bullion item trades.

    NUMISMATICS: The specialised sector of the coin business for the study
    and collection of rare coins and other media of exchange, particularly
    those with archaeological and historic interest.

    OBVERSE: Obverse refers to the "heads" or face-up side of a coin. In
    Canada, it is the side of a coin which contains the Queen's effigy.

    PRECIOUS METALS: Metals of great value being gold, silver, platinum and
    other platinum group metals.

    PREMIUM: The price of a coin over the value of its actual gold content.
    Also the dollar amount or percentage a coin sells over its intrinsic
    value. Example: Coins sell at a premium of 3 to 25%.

    REFINING: The separating and purifying of gold and silver from other
    metals.

    REVERSE: Reverse is the opposite of obverse and refers to the "tails"
    side of a coin.

    SCRAP GOLD: The broad term for any gold which is sent back to a refiner
    or processor for recycling.

    SPOT: Used in commodities trading to denote something which can be
    delivered readily. The spot price is the price required for immediate
    settlement.

    TROY OUNCE: The traditional unit of weight used for precious metals which
    was attributed to a weight used in Troyes, France, in medieval times. One
    troy ounce is equal to 1.0971428 ounces avoirdupois. A unit weight equal
    to about 1.1 ordinary ounces. The word ounce when applied to gold, always
    refers to troy ounces.


    /NOTE TO PHOTO EDITORS: A photo accompanying this release is available on
    the CNW Photo Network and archived at http://photos.newswire.ca.
    Additional archived images are also available on the CNW Photo Archive
    website at http://photos.newswire.ca. Images are free to accredited
    members of the media/



For further information: or to obtain images of these new gold bullion
coins, please contact: Alex Reeves Manager, Communications, (613) 949-5777,
(613) 991-5342, Cell: (613) 884-6370, Fax: (613) 991-2628, reeves@mint.ca