Mint offering Canadians a chance to buy into gold
Barry Critchley Oct 31, 2011 – 5:48 PM ET
Sprott, Central Gold and Claymore move over. You now have some competition in products that are backed by gold.
And the competition comes from the Royal Canadian Mint, a federal crown corporation responsible for the minting and distribution of the coins circulated in Canada.
Through TD Securities and National Bank Financial, the Mint is now undertaking an initial public offering of the Royal Canadian Mint Canadian Gold Reserves Program. Investors will be offered exchange-traded receipts each priced at $20 per receipt. According to TD Waterhouse’s web site, each retail investor is required to purchase at least 100 units – equal to an investment of $2,000 – and a maximum of 50,000 units, or $1-million. The product is eligible for RRSP’s and the hope is to raise $250-million.
Financial Post
