In the world of gold bullion coins, the Canadian Gold Maple Leaf is one of the purest and most sought-after in the world. With its gold content at 0.9999 millesimal fineness, equivalent to 24 golden carats, the Gold Maple leaf contains nearly zero other base metals but is almost entirely pure gold from the mines of Canada.
The Gold Maple Leaf is a fairly recent design in the world of gold coins, the first issue being in 1979. Practically every single nation had abandoned the gold standard during the Great Depression as governments sought flexibility for implementing policies in response to the economic disaster. President Franklin Roosevelt actually ordered the confiscation of all privately-held gold, including coins, in 1933. As governments feared losing gold to hoarders and the markets, they were in no mind to mint new coins for circulation.
The Bretton Woods agreement after the war decreed that instead of returning to a gold standard, nations would instead fix their currencies to the US Dollar. In principal, the US government agreed to keep the dollar fixed to the price of gold and allowed the conversion of dollars to gold at that fixed price. Economic troubles in the 1970s finally caused the US to finally sever the tie between gold and the US dollar. Since then, all major currencies are not physically backed by any commodity but are ensured solely by the full faith of the issuing government.
Another reason for the lack of gold coin production was the lack of new substantial gold discoveries during this time period. As gold production slowed, only one major gold producer was minting coins. South Africa issued the Krugerrand coin in 1967. However, due to the legal racial discrimination known as apartheid, most other developed economies imposed economic sanctions upon the nation. The Krugerrand was an illegal import during this time despite the widespread success of the coin.
It was primarily the success of the Krugerrand as well as the increasing gold production in its own country that led Canada to issue the Canadian Gold Maple Leaf. While the Maple Leaf is officially considered “non-circulating”, it is still legal tender in Canada.
There are actually two designs for the Canadian Gold Maple Leaf for 2010. The traditional motif shows a profile picture of Queen Elizabeth II of the United Kingdom on the obverse and a maple leaf on the reverse. In commemoration of the 2010 Winter Olympic games held in Vancouver, Canada, the Canadian Royal Mint issued special Gold Maple Leaf coins bearing the emblems of the Games.
With the substantial increase in gold prices, the 1 oz. weight of the Canadian Gold Maple Leaf has skyrocketed as well. Since gold in its purest form is prone to markings and damage, a Canadian Gold Maple Leaf coin in excellent condition will fetch premium prices. Currently, these coins are selling for over $1600, a great investment for anyone interested in owning gold in its purest available form.