Gold’s Lost Century
The so-called Canada Hoard is one of the most important and remarkable numismatic stories of the century. Read on to find out the history of these incredible gold coins.
Canada’s First Gold Coins
Set up in 1908, as a branch of the Royal Mint, the Ottawa Mint produced UK Gold Sovereigns to be circulated within Canada. They were set at a value of four Canadian dollars, eighty six cents and two thirds of a cent- Pre-decimalisation is a nightmare. In 1912 they struck the first truly Canadian gold coins. These coins have a face value of $5 and $10. These coins were made using native gold, mostly taken from the Klondike River Valley which was the site of one of the largest gold rushes in human history. The coins were struck at a purity of .900 fine gold, with the $10 coin containing 0.4838Oz of gold, and the $5 half of that, with a coin weight of 16 and 8 grams respectively. They feature King George V’s portrait by Sir Edgar Bertram MacKennal on the obverse and the 1868 Canadian coat of arms on two crossed maple leaf branches on the reverse. Above the shield is inscribed CANADA, and below is the year of production and denomination.
Hidden By War
They were minted between 1912-1914. At the outbreak of war, the Canadian government stopped production of all gold coins and switched to making gold bars. The Canadian Government also recalled all gold coins from circulation to help build and maintain their war chest. The conflict meant that the government moved 200,000 of these uncirculated gold coins into the vaults of the Bank of Canada. They were stored in cloth bags and had not been seen since the outbreak of the war.
Uncovered by Financial Crisis
Laying forgotten, This hoard became a myth to gold collectors, with people debating its location, existence and value. These incredible coins were rediscovered in the early 2000’s when Canada began selling its gold reserves to balance the budget. Spared the initial rounds of sale, these coins were finally set to be melted down and sold off in 2012.
Spared Destruction
Realising the historical and numismatic importance of these coins, the Canadian Mint handpicked 30,000 of the discovered hoard that, were deemed to be of the highest quality, and released them to collectors.The average grade of these released coins was MS-63. The rest were melted down and sold.
Own an Important Piece of History
This is an incredible, once-in-a-lifetime chance to own a coin with this level of significance, rarity, and provenance. Talk to one of our specialists now to secure yours; as stocks are incredibly limited.
