Canadian Platinum Maple Leaf
Canada | |
Value | 50 Canadian dollars (face value only) |
---|---|
Mass | 31.110[1] g (1.00 troy oz) |
Diameter | 30[1] mm |
Edge | Serrated |
Composition | 99.95% Pt[1] |
Years of minting | 1988–2002 (five denominations) 2009–present (1 oz only) |
Obverse | |
Design | Queen Elizabeth II |
Designer | Susanna Blunt |
Design date | 2003 |
Reverse | |
Design | Maple Leaf |
Designer | RCM engravers |
Design date | 1988 |
The Canadian Platinum Maple Leaf is the official
Background
The
History
The production of Platinum Maple Leaf coins began on September 22, 1988, at a "special striking ceremony" organized by the RCM,[5] where the first Canadian Silver Maple Leaf was also made. The president of the largest precious metal distributor in Japan, Junichiro Tanaka, was given the honor of striking the first platinum coin with a coin press weighing 140 tonnes.[5] At the time, the Gold Maple Leaf was extremely popular in Japan, with 1.1 million ounces of the coin sold there from 1984 onwards. This represented more than 70% of the market share in that country.[5]
Both coins were first made available for sale to the public on November 17 of that same year.
On December 15, 1988, almost a month after the Platinum Maple Leaf was first sold, Ford Motor Company announced that it was testing out a new material for its catalytic converters that would replace platinum. This led to fears that the sale of the platinum coins would decrease, as the automotive industry was responsible for approximately a third of platinum consumption.[7] Although the sales of the Platinum Maple Leaf more than doubled from 1990 to 1991 – increasing from 18,000 ounces to 39,000 ounces – this was primarily because the price of the precious metal had "dropped substantially".[11] For a short time during the earlier part of 1991, platinum had actually become less valuable than gold.[11] However, the situation reversed by the latter part of the decade, when the increased interest in platinum caused the coin's prices to rapidly increase.[12][13] Because of this, the platinum market suddenly cooled off, and the RCM stopped minting Platinum Maple Leaf coins after 2002. However, they began producing the coin again in 2009,[13] this time featuring the effigy of Queen Elizabeth II designed by Susanna Blunt back in 2003. In 2012, the Platinum Maple Leaf was "the world's best selling platinum coin".[1]
Series
Years | Denominations | Purity | Obverse |
---|---|---|---|
1988–1989 | 1 oz, 1⁄2 oz, 1⁄4 oz, 1⁄10 oz | .9995 | 39-year-old Queen |
1990–1992 | 1 oz, 1⁄2 oz, 1⁄4 oz, 1⁄10 oz | .9995 | 64-year-old Queen |
1993 | 1 oz, 1⁄2 oz, 1⁄4 oz, 1⁄10 oz, 1⁄20 oz | .9995 | |
1994 | 1 oz, 1⁄2 oz, 1⁄4 oz, 1⁄10 oz, 1⁄15 oz, 1⁄20 oz | .9995 | |
1995–1999 | 1 oz, 1⁄2 oz, 1⁄4 oz, 1⁄10 oz, 1⁄20 oz | .9995 | |
2002 | 1 oz, 1⁄2 oz, 1⁄4 oz, 1⁄10 oz, 1⁄20 oz | .9995 | |
2009 | 1 oz | .9995 | 79-year-old Queen |
See also
- American Platinum Eagle
- Bullion
- Bullion coin
- Inflation hedge
- Platinum as an investment
- Platinum Koala
- Platinum Panda
References
- ^ a b c d "Platinum Maple Leaf Coin". Royal Canadian Mint. Government of Canada. Archived from the original on October 13, 2014. Retrieved October 14, 2014.
- ^ ISBN 9781440221446.
- ^ a b c d Rochette, Ed (August 21, 1988). "Canada turns to platinum for Maple Leafs". Chicago Sun-Times. p. 29. Retrieved October 12, 2014. (subscription required)
- ^ Rochette, Ed (October 15, 1989). "Canada marks Maple Leaf's 10th year". Chicago Sun-Times. p. 13. Retrieved October 12, 2014. (subscription required)
- ^ a b c d e f "Canadian mint launches silver, platinum coins". Toronto Star. The Canadian Press. September 23, 1988. p. F3. Retrieved October 12, 2014. (subscription required)
- ^ a b "Platinum Maple Leaf launched". Toronto Star. The Canadian Press. November 18, 1988. p. C5. Retrieved October 13, 2014. (subscription required)
- ^ a b McCarthy, Shawn (December 16, 1988). "New platinum coin suddenly not quite so precious". Toronto Star. p. E3. Retrieved October 13, 2014. (subscription required)
- ^ Royal Canadian Mint (February 5, 2013). "Royal Canadian Mint offers pennies to mark the end of distribution as it launches its latest collector coin offering". PR Newswire. Archived from the original on October 13, 2014. Retrieved October 13, 2014.
- ^ Aaron, Robert (June 30, 2003). "Golden opportunity for a regal portrait". Toronto Star. p. E7. Retrieved October 13, 2014. (subscription required)
- ^ Packard, Jimmy (August 15, 1993). "Canadian Mint Introduces New Gold and Platinum Coins". Richmond Times-Dispatch. p. J8. Retrieved October 13, 2014. (subscription required)
- ^ a b "Canadian collector coin sales slump". The Record. Kitchener, Ontario. The Canadian Press. December 7, 1991. p. A12. Retrieved October 14, 2014. (subscription required)
- ^ "The Platinum Maple Leaf". NWTMint.com. Northwest Territorial Mint. Retrieved October 14, 2014.
- ^ a b "Canadian Platinum Maple Leaf Coins". SBC Gold. Scottsdale Bullion & Coin. Retrieved October 14, 2014.