Director of Storage & Refining Solutions of the Royal Canadian Mint (MNT:TSX, MNS:TSX), Steve Higgins, explains exchange traded receipts that allow investors the ability to take out actual metal.
The Royal Canadian Mint is a crown corporation. We produce all the domestic coins supply for Canada. We also have a large collector coin business and we refine and produce billion products so we refine gold and silver coming from mines turn it into high purity metal and sell that off as different types of investment products.
The Mint has issued gold and silver exchange traded receipts we call them. It’s a little bit different than an exchange traded fund in that the investors directly own the precious metals and there is no entity structure involved. It’s a hundred percent backed by physical metal and all stored at the Mint, it trades on the Toronto stock exchange, gold is MNT and MNT.U and Silver is MNS and MNS.U.
Additionally, investors have the ability to take out the metal in different types of formats so they can get anything from a large trade bar down to a one-ounce old silver coin.
If an investor wants to have exposure to gold or silver, and they want to know that it’s a physical metal investment that’s held on their behalf. This is a great product for them to take a look at. In terms of structure, it is unique globally, it’s the only product that’s out there that’s backed up a sovereign federal government and is a good way to get exposure of precious metals.