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 Replies: 58 / Views: 11,857 |
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Pillar of the Community
 Canada
9864 Posts |
Not to stray off topic, I wonder how many dealers have more than 77 ounces of BOC gold hoard coins in their inventory.
"Dipping" is not considered cleaning...
-from PCGS website
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Pillar of the Community
Canada
3049 Posts |
After Sandy ... probably not many... perhaps Ian and one other dealer in the States who also did most of buying of that hoard
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Pillar of the Community
Canada
9864 Posts |
77 ounces would only be about 40 of each year and denomination. Do you really think there would be so few holding that amount or more?
"Dipping" is not considered cleaning...
-from PCGS website
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Valued Member
Canada
252 Posts |
whoops wrong topic  Edited by collector67
03/04/2016 6:59 pm
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Pillar of the Community
Canada
541 Posts |
the RCM must have a ton of gold on hand to carry out their program...how else would they be able to satisfy the demand for Canada Bullion coinage?...and RCM gold NCLT coins |
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Pillar of the Community
Canada
5324 Posts |
The RCM is a crown corp. not an arm of the BOC, part of the government. |
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Pillar of the Community
Canada
541 Posts |
So when they buy gold for the RCM where will it come from? Presumably it must come from Canada. The idea that the BOC is out of gold doesn't make sense..We produce tons of gold in Canada in 2014 Canada produced 150,852 Kilos of gold which is approx 150.8 tons..Of course this is mined by private corporations...China must be jealous... Edited by Cassidy77
03/04/2016 10:50 pm
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Pillar of the Community
Canada
2845 Posts |
Quote:The RCM is a crown corp. not an arm of the BOC, part of the government. While the following reference is not current, I don't believe anything has changed. The Minster of Finance holds direct responsibility over the Royal Canadian Mint, plus controlling interest in the Bank of Canada. "Traditionally, the President of the Royal Canadian Mint is known as the Master of the Mint. The current president is Ian E. Bennett, who was appointed to the position in June 2006 and was re-appointed to a further three-year mandate effective June 12, 2011. The Board of Directors, through the Chair, is accountable to the Minister of Finance (Canada). The Minister serves as the link between the Mint, Cabinet and Parliament." https://en.m.wikipedia.org/wiki/Roy...anadian_MintBank of Canada "The Minister of Finance holds the entire share capital issued by the bank. "The capital shall be divided into one hundred thousand shares of the par value of fifty dollars each, which shall be issued to the Minister to be held by the Minister on behalf of Her Majesty in right of Canada."  " https://en.m.wikipedia.org/wiki/Bank_of_CanadaEdited by wildflowerAB
03/04/2016 7:30 pm
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Pillar of the Community
Canada
2845 Posts |
Some of Canada's disappearing gold may also be currently held by RCM in support of its publically traded EFT fund, created in 2011 if I recall correctly. Perhaps that's what was seen in the YouTube video earlier posted by Aghawk. But it really makes no sense for the BofC to use the risk of physical holdings as a reason Canada no longer holds gold reserves, at the same time RCM holds gold supporting it's EFT fund. "Each ETR will represent an undivided beneficial interest in gold bullion to be held in custody by the Mint. The gold bullion will be beneficially owned by the ETR Holders and not by the Mint." http://www.reserves.mint.ca/Gold/Home/About |
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Pillar of the Community
Canada
5324 Posts |
Basically the BOC takes orders from minister of finance, the RCM is a crown corp who also I guess knows who is the boss. Sure hope much of the RCM's bullion is bought from Canadian sources. |
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Pillar of the Community
Canada
2845 Posts |
That's is one of my personal reasons for preferring 1912 - 1914 $5 or $10 gold coins that were never part of the hoard....they're somewhat like renegades.  |
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Pillar of the Community
Canada
2845 Posts |
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Pillar of the Community
Canada
541 Posts |
i guess about 800 lbs gold for the 30k release so the total estimate would be about 6400 lbs or 3 ton...just a guess..im sure theres an exact figure somewhere.....thats a lot of gold hiding aways undisturbed for 100 years!
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Pillar of the Community
Canada
3234 Posts |
Quote:Quote:
.....thats a lot of gold hiding aways undisturbed for 100 years The world sure does play a lot of games with hoarding gold over so many centuries... What a crap shoot it always will be.... |
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Pillar of the Community
Canada
2845 Posts |
Thanks for the estimate Cassidy77, close enough!
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Replies: 58 / Views: 11,857 |
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Posted 03/04/2016 3:13 pm
