Canadian Platinum Maple Leaf: Difference between revisions

{{Infobox coin

| Denomination = Platinum Maple Leaf

| Country = Canada

| Value = 50

| Unit = [[Canadian dollar]]s {{small|(face value only)}}

| Mass = 31.110<ref name=RCM/>

| Mass_troy_oz = 1.00

| Diameter = 30<ref name=RCM/>

| Diameter_inch =

| Thickness =

| Thickness_inch =

| Edge = Serrated

| Composition = 99.95% [[Platinum|Pt]]<ref name=RCM/>

| Years of Minting = 1988–2002 {{small|(five denominations)}}<br>2009–present {{small|(1 oz only)}}

| Catalog Number =

| Obverse =

| Obverse Design = Queen Elizabeth II

| Obverse Designer = Susanna Blunt

| Obverse Design Date = 2003

| Reverse =

| Reverse Design = Maple Leaf

| Reverse Designer = RCM engravers

| Reverse Design Date = 1988

}}

The '''Canadian Platinum Maple Leaf''' is the official [[bullion]] [[platinum coin]] of [[Canada]]. First issued by the [[Royal Canadian Mint]] in 1988, it was available until 2002 in five different denominations, all of which are marked as containing .9995 pure [[platinum]]. The [[bullion coin]] was partly reintroduced in 2009 in the form of the 1 [[troy ounce]] denomination in .9999 purity, featuring a new portrait of [[Elizabeth II|Queen Elizabeth II]] on the [[Obverse and reverse|obverse]]. The coins have [[legal tender]] status in Canada, but as is often the case with bullion coins, the [[face value]]s of these coins is lower than the market price of the material they are made from.

==Background==

The [[Canadian Maple Leaf coins|Canadian Maple Leaf]] series began in 1979, when the [[Royal Canadian Mint]] (RCM) introduced the [[Canadian Gold Maple Leaf]] coin. It consisted of 1 [[troy ounce]] of .999 [[Carat (purity)|pure gold]] – later refined to .9999 pure in 1984 – and contained no [[alloy]]s within it; a rarity at the time.<ref name=Berman>{{cite book|url=https://books.google.com/books?id=4Lmtvt7CdWgC&dq=canadian+platinum+maple+leaf&pg=PA159|title=Warman's Coins And Paper Money: Identification and Price Guide|publisher=Krause Publications|date=December 3, 2008|last=Berman|first=Allen G.|page=159|isbn=9781440221446}}</ref> Due to the widespread success of the coin on the international bullion market<ref name=Berman/><ref name=turns>{{cite news|title=Canada turns to platinum for Maple Leafs|url=http://docs.newsbank.com/openurl?ctx_ver=z39.88-2004&rft_id=info:sid/iw.newsbank.com:AWNB:CSTB&rft_val_format=info:ofi/fmt:kev:mtx:ctx&rft_dat=0EB36DF5C97DA3A0&svc_dat=InfoWeb:aggregated5&req_dat=105B9A93AF33E3E3|date=August 21, 1988|first=Ed|last=Rochette|page=29|accessdate=October 12, 2014|newspaper=Chicago Sun-Times}} {{subscription required}}</ref> – which saw the Gold Maple Leaf secure "the top sales spot"<ref name=tenth>{{cite news|title=Canada marks Maple Leaf's 10th year|url=http://docs.newsbank.com/openurl?ctx_ver=z39.88-2004&rft_id=info:sid/iw.newsbank.com:AWNB:CSTB&rft_val_format=info:ofi/fmt:kev:mtx:ctx&rft_dat=0EB36E7FDEE21332&svc_dat=InfoWeb:aggregated5&req_dat=105B9A93AF33E3E3|date=October 15, 1989|first=Ed|last=Rochette|page=13|accessdate=October 12, 2014|newspaper=Chicago Sun-Times}} {{subscription required}}</ref> to become "the world's most successful gold coin"<ref name=launches>{{cite news|title=Canadian mint launches silver, platinum coins|url=http://docs.newsbank.com/openurl?ctx_ver=z39.88-2004&rft_id=info:sid/iw.newsbank.com:AWNB:TRSB&rft_val_format=info:ofi/fmt:kev:mtx:ctx&rft_dat=10C2C344880AF9A8&svc_dat=InfoWeb:aggregated5&req_dat=105B9A93AF33E3E3|date=September 23, 1988|page=F3|agency=The Canadian Press|accessdate=October 12, 2014|newspaper=Toronto Star}} {{subscription required}}</ref> – the Mint decided to introduce [[Silver coin|silver]] and [[Platinum coin|platinum]] bullion coins to the series in 1988.<ref name=turns/><ref name=launches/> In that year, [[Canada]] ranked third in the world in platinum production, trailing only [[South Africa]] and the [[Soviet Union]].<ref name=turns/>

==History==

The production of Platinum Maple Leaf coins began on September 22, 1988, at a "special striking ceremony" organized by the RCM,<ref name=launches/> 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 [[Coining (mint)|coin press]] weighing 140 [[tonne]]s.<ref name=launches/> 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.<ref name=launches/>

Both coins were first made available for sale to the public on November 17 of that same year.<ref name=launched>{{cite news|title=Platinum Maple Leaf launched|url=http://docs.newsbank.com/openurl?ctx_ver=z39.88-2004&rft_id=info:sid/iw.newsbank.com:AWNB:TRSB&rft_val_format=info:ofi/fmt:kev:mtx:ctx&rft_dat=10C2C6312542F890&svc_dat=InfoWeb:aggregated5&req_dat=105B9A93AF33E3E3|date=November 18, 1988|page=C5|agency=The Canadian Press|accessdate=October 13, 2014|newspaper=Toronto Star}} {{subscription required}}</ref> The platinum coins were made of .9995 pure platinum<ref name=precious>{{cite news|title=New platinum coin suddenly not quite so precious|url=http://docs.newsbank.com/openurl?ctx_ver=z39.88-2004&rft_id=info:sid/iw.newsbank.com:AWNB:TRSB&rft_val_format=info:ofi/fmt:kev:mtx:ctx&rft_dat=10C2C74E32ECC228&svc_dat=InfoWeb:aggregated5&req_dat=105B9A93AF33E3E3|date=December 16, 1988|page=E3|first=Shawn|last=McCarthy|accessdate=October 13, 2014|newspaper=Toronto Star}} {{subscription required}}</ref> in four denominations of different sizes, consisting of 1 [[troy ounce]] (oz), {{frac|1|2}} oz, {{frac|1|4}} oz, and {{frac|1|10}} oz. bearing the [[face value]]s of [[Canadian dollar|$]]50, $20, $10, and $5, respectively.<ref name=turns/><ref name=launched/> Their actual value, however, is determined by the daily market price of platinum.<ref name=launches/> These coins featured the effigy of [[Elizabeth II|Queen Elizabeth II]] designed by [[Arnold Machin]],<ref name=pennies>{{cite news|title=Royal Canadian Mint offers pennies to mark the end of distribution as it launches its latest collector coin offering|url=http://www.prnewswire.com/news-releases/royal-canadian-mint-offers-pennies-to-mark-the-end-of-distribution-as-it-launches-its-latest-collector-coin-offering-189835601.html|date=February 5, 2013|author=Royal Canadian Mint|agency=PR Newswire|accessdate=October 13, 2014|archiveurl=https://web.archive.org/web/20141013124843/http://www.prnewswire.com/news-releases/royal-canadian-mint-offers-pennies-to-mark-the-end-of-distribution-as-it-launches-its-latest-collector-coin-offering-189835601.html|archivedate=October 13, 2014}}</ref> which was also used in the [[United Kingdom]] and throughout the [[Commonwealth of Nations]], and continued to be used on [[Coins of the Canadian dollar|Canadian coins]] until 1989.<ref>{{cite news|title=Golden opportunity for a regal portrait|url=http://docs.newsbank.com/openurl?ctx_ver=z39.88-2004&rft_id=info:sid/iw.newsbank.com:AWNB:TRSB&rft_val_format=info:ofi/fmt:kev:mtx:ctx&rft_dat=10C7CA585E132C48&svc_dat=InfoWeb:aggregated5&req_dat=105B9A93AF33E3E3|date=June 30, 2003|page=E7|first=Robert|last=Aaron|accessdate=October 13, 2014|newspaper=Toronto Star}} {{subscription required}}</ref> Coins made of {{frac|1|20}} oz platinum with a face value of $1 were subsequently released in 1993, with the intention of attracting the small investment and jewelry sectors.<ref>{{cite news|title=Canadian Mint Introduces New Gold and Platinum Coins|url=http://docs.newsbank.com/openurl?ctx_ver=z39.88-2004&rft_id=info:sid/iw.newsbank.com:AWNB:RTDB&rft_val_format=info:ofi/fmt:kev:mtx:ctx&rft_dat=0EB4F943D4EFFE5A&svc_dat=InfoWeb:aggregated5&req_dat=105B9A93AF33E3E3|date=August 15, 1993|page=J8|first=Jimmy|last=Packard|accessdate=October 13, 2014|newspaper=Richmond Times-Dispatch}} {{subscription required}}</ref>

On December 15, 1988, almost a month after the Platinum Maple Leaf was first sold, [[Ford Motor Company of Canada|Ford Motor Company]] announced that it was testing out a new material for its [[catalytic converter]]s 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.<ref name=precious/> 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".<ref name=slump>{{cite news|title=Canadian collector coin sales slump|url=http://docs.newsbank.com/openurl?ctx_ver=z39.88-2004&rft_id=info:sid/iw.newsbank.com:AWNB:OKRB&rft_val_format=info:ofi/fmt:kev:mtx:ctx&rft_dat=10B4ECC65EAC14D0&svc_dat=InfoWeb:aggregated5&req_dat=105B9A93AF33E3E3|date=December 7, 1991|page=A12|agency=The Canadian Press|accessdate=October 14, 2014|newspaper=The Record|location=Kitchener, Ontario}} {{subscription required}}</ref> For a short time during the earlier part of 1991, platinum had actually become less valuable than [[gold]].<ref name=slump/> 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.<ref>{{cite web|title=The Platinum Maple Leaf|url=https://bullion.nwtmint.com/platinum_mapleleaf.php|accessdate=October 14, 2014|work=NWTMint.com|publisher=Northwest Territorial Mint}}</ref><ref name=SBC>{{cite web|title=Canadian Platinum Maple Leaf Coins|url=http://www.sbcgold.com/buy-gold-and-silver/canadian-platinum-maple-leaf-coins/|accessdate=October 14, 2014|work=SBC Gold|publisher=Scottsdale Bullion & Coin}}</ref> 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,<ref name=SBC/> 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".<ref name=RCM>{{cite web|title=Platinum Maple Leaf Coin|url=http://www.mint.ca/store/content/bullionProductDetails.jsp?itemId=prod1660006&cat=Products&nId=7400002&parentnId=1300002&nodeGroup=About+the+Mint|accessdate=October 14, 2014|work=Royal Canadian Mint|publisher=Government of Canada|archiveurl=https://web.archive.org/web/20141013171941/http://www.mint.ca/store/content/bullionProductDetails.jsp?itemId=prod1660006&cat=Products&nId=7400002&parentnId=1300002&nodeGroup=About+the+Mint|archivedate=October 13, 2014 }}</ref>

==Series==

!| Years

!| Denominations

| 1988&ndash;1989 || 1 oz, {{frac|1|2}} oz, {{frac|1|4}} oz, {{frac|1|10}} oz || .9995

| 1990&ndash;1992 || 1 oz, {{frac|1|2}} oz, {{frac|1|4}} oz, {{frac|1|10}} oz || .9995

| 1993 || 1 oz, {{frac|1|2}} oz, {{frac|1|4}} oz, {{frac|1|10}} oz, {{frac|1|20}} oz || .9995

|-

| 1994 || 1 oz, {{frac|1|2}} oz, {{frac|1|4}} oz, {{frac|1|10}} oz, {{frac|1|15}} oz, {{frac|1|20}} oz || .9995

| 1995&ndash;1999 || 1 oz, {{frac|1|2}} oz, {{frac|1|4}} oz, {{frac|1|10}} oz, {{frac|1|20}} oz || .9995

| 2002 || 1 oz, {{frac|1|2}} oz, {{frac|1|4}} oz, {{frac|1|10}} oz, {{frac|1|20}} oz || .9995

| 2009 || 1 oz || .9995

| rowspan=1 | 79-year-old Queen

*[[Bullion]]

*[[Bullion coin]]

*[[Inflation hedge]]

*[[Platinum as an investment]]

*[[Platinum Koala]]

*[[Platinum coin#Platinum Panda|Platinum Panda]]

==References==

{{Reflist|colwidth=30em}}

{{Canadian currency and coinage}}

{{Portal bar|Canada|Money|Numismatics}}

[[Category:Bullion coins of Canada|Platinum Maple Leaf]]

[[Category:Platinum bullion coins]]