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This is a near flawless gem uncirculated 1997 $50 one ounce fine gold coin marking the 125th anniversary of the RCMP. The coin has a unique 10 sided shape, and features a mounted RCMP officer holding a flag as they would appear in the RCMP Musical Ride. The obverse features an image of Queen Elizabeth, the nominal denomination of $50, and engraved lettering stating "US $310 GUARANTEED BY THE RCM TO JAN. 1ST 2000". As a pure gold coin issued by the Royal Canadian Mint, this item is exempt from HST or GST.
While the original mintage of this coin was not especially low, the vast majority of these coins were redeemed and melted down by the Mint by late 1999, leaving the few surviving pristine examples as scarce and highly sought after collectibles. This gem uncirculated coin is one of the highest quality surviving examples, with a sharp full strike, superb mint luster, and near flawless surfaces.
When this coin was originally issued in 1997, it was priced as a bullion coin at a small premium above the market spot price, with gold trading at about $350 US dollars per ounce. The Mint anticipated increasing gold prices, and as a marketing program, the coins were guaranteed redeemable by the Mint for $310 USD up to January 1, 2000. Between the date of issue and the deadline for redemption, the price of gold dropped to modern record lows, with prices dipping to near $250 USD per ounce. As the coins remained redeemable by the Royal Canadian Mint for $310 USD, the vast majority of these coins were in fact redeemed by investors, and the Mint melted the coins down to reuse in other products. It is estimated that more than 95% of these coins were redeemed and destroyed before the redemption deadline of January 1, 2000.
Today, this is an elusive issue for collectors to find, and most surviving examples have been handled without regard to keeping them in perfect condition. This scarce and pristine coin will come presented in a mahogany finish display case, and survives as one of the best remaining coins of this issue.
• 1997 $50 Pure Gold RCMP Musical Ride Coin Delivery Information:
Physical address required - no P.O boxes please.
Please allow 7-15 business days for delivery. Warranty Information:
This product comes with a 30-day warranty.