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The Canadian Gold Maple Leaf (GML) is a gold bullion coin that is issued annually by the Government of Canada. It is produced by the Royal Canadian Mint. The Gold Maple Leaf is legal tender with a face value of 50 Canadian dollars. The market value of the metal varies, depending on the spot price of gold.
Canada is the 4th largest producer of gold in the world, only behind China, Australia, and Russia. [6] 2.2% of the world's total gold reserves belong to Canada. [2] Canada mainly trades gold with the United Kingdom. In 2021, 47% of exported Canadian gold went to the United Kingdom. [2]
Gold prices became deregulated and rose from $35 per ounce in 1971 to $800 per ounce in 1980. [8] In 1987, owners Kerr-Addison Ltd sold the mine for $38 million to Golden Shield Resources Ltd, who started an ambitious exploration program. [8] [16] [17] Shortly after, the global gold price sharply dropped, forcing Golden Shield into bankruptcy ...
From 2000 to 2019, there were various technological achievements in Canadian coin minting. The first RCM gold coin to be directly laser etched was the $100 Gold Leduc Oil Fields coin from 2002. [1] The technique would later be used for the 2003 $100 Gold Marquis Wheat coin and the 2004 $20 Iceberg coin.
Gold prices (US$ per troy ounce), in nominal US$ and inflation adjusted US$ from 1914 onward. Price of gold 1915–2022 Gold price history in 1960–2014 Gold price per gram between Jan 1971 and Jan 2012. The graph shows nominal price in US dollars, the price in 1971 and 2011 US dollars.
The Red Lake mine is a Canadian gold mine located in northwestern Ontario at Red Lake. [1] It was one of the largest gold mines in Canada and in the world. [1] The mine had estimated reserves of 3.23 million oz of gold in 2013. [1]
Expansion in the numismatic line was a key element of the 1990s. The first significant sign was the creation of the two-hundred dollar gold coin. Starting in 1990, this coin was sold for a higher price than its face value. The first coin commemorated the Silver Jubilee of Canada's flag and sold for $395.00.
Although it was widely expected that Canada would return to the gold standard after the War, it was not until 1926 that the government did so. [80] Following the return to the gold standard, British and United States gold coins, government of Canada notes, and Canadian coins were legal tender. Bank notes ceased to be legal tender.