Royal Canadian Mint To Sell Gold For $20

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Author	Replies: 5 / Views: 1,903
SilverBug Pillar of the Community Canada 862 Posts	Posted 11/02/2011 4:31 pm ...And the buyer won't actually receive gold, he or she will only receive an Exchange Trade Receipt that provides evidence of ownership of gold held in the Mint in Ottawa. But the Mint says in a statement investors "will be entitled to redeem their ETRs for physical gold products in the form of 99.99 per cent pure gold bars or coins." ... What do you think? http://ca.news.yahoo.com/blogs/dail...4243928.html Report this Post to the Staff

bjones Valued Member United States 304 Posts	Posted 11/02/2011 6:33 pm How much 99.99% gold will $20 buy you? Enough to gold plate a Loonie? Report this Post to the Staff
littlemoney Pillar of the Community Canada 902 Posts	Posted 11/02/2011 6:45 pm If you're lucky Report this Post to the Staff
Lithanial Valued Member Canada 451 Posts	Posted 11/02/2011 8:18 pm I don't think I am the type of person that would invest in this, but I do like the idea. I just don't understand why the Mint doesn't sell their bullion directly. They can sell ETR's and exchange the ETR's for bullion, but they can't sell bullion directly? huh? Report this Post to the Staff
poboxw Pillar of the Community Canada 1502 Posts	Posted 11/03/2011 12:28 pm easier to do this than to set up shipping department and tick off all the dealers that they've authorized to sell on their behave. ETRs can essentially be all electronic if no delivery is taken, which means they get a cut from both the bullion sales and ETR sales together without really having to do much except for record keeping, and housing the gold (which they do already anyways). Smart move, cutting out the middleman, Report this Post to the Staff
SilverBug Pillar of the Community Canada 862 Posts	Posted 11/03/2011 1:27 pm if I buy $100 ETR monthly, after the account reaches 1oz gold price, I ask for a gold maple leaf, will it be cheaper than saving up in bank and buy 1 GML from dealer? Report this Post to the Staff
	Replies: 5 / Views: 1,903

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