Steve Higgins, Director of Storage and Refining at Royal Canadian Mint speaks about direct ownership of silver or gold.
The Royal Canadian Mint is a Canadian Crown corporation for profit. We take metal from mines and fabricate it into investment products. We have four main areas of business, Canadian Circulation Coins, Foreign Circulation Coins, Numismatic Coins and Bullion and Bullion Province. We’re always working on Anti Counterfeiting. We now have laser dye markings that through our DNA technology people can actually take their one ounce gold and silver maple leaf coins into dealers and have them authenticated with the authentication unit that takes a look at the unique signature that is on each coin. Exchange traded receipt is direct ownership in gold or silver. It is a unique type of security, 100 percent backed by precious metals, stored at the mint. Investors can withdraw that metal on a monthly basis and have the option of taking either the big trade bars or mid-sized bars or right down to the to the one ounce coins. We think it’s the most flexible of the Redemption features that are out there because we are a fabricator of precious metals. It’s a good way to trade because you could you can do it instantly through a brokerage account with low fees. So it’s point four five per cent per year for silver and point three five percent for gold which is very competitive. And of course it allows people to get in and out of their positions very quickly.
The Royal Canadian Mint established the Canadian Gold Reserves Program in order to provide an exchange-traded investment vehicle that tracks the price of gold and makes investing directly in physical gold available to institutional and retail investors. Exchange-Traded Receipts (“ETRs”) are listed on the Toronto Stock Exchange (the “TSX”) and may be bought and sold on the TSX like any other exchange-listed securities.
The Mint is a commercial federal Crown Corporation producing circulation, numismatic and bullion coins for the domestic and international markets. Since 1908, the Royal Canadian Mint has earned a world-renowned reputation for quality, excellence and security. The Mint operates full-service gold and silver refineries with a range of services from refining to assaying and secure storage. Subject to the terms of the ETRs, each ETR will constitute a direct unconditional obligation of the Mint, an agent of Her Majesty in right of Canada and as such will constitute a direct unconditional obligation of Her Majesty in right of Canada. ETR holders will have no recourse to the Mint or the Government of Canada for any loss on their investment.
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