Archives

LIVE ONLINE AUCTION SALE

LAUNCH LIVE ONLINE AUCTION CATALOGUE

Auction Network’s family of professional auctioneers, Allen, Ryan and Zach, are proud to bring you a true live online auction experience every Wednesday, Saturday and Sunday. We waste no time, with an energetic pace and always something new and exciting.

Sunday Live Online Auction, April 2nd, 2017

Auction start 12:00pm EST. | Preview from 11:00am EST.

Studio: Auction Network, 501 Alden Road, Markham, Ontario

Full catalogue listing available at: www.auctionnetwork.ca

This weekend’s sales will include but is not limited to:

Gold and Silver Coins, Certified Coins & Paper Money, Collector Medal and Token Lots, Original Mint Rolls, Searched and Unsearched Ancient Coins (Scarce Periods), Banking Script Certificates, World Currency, Bulk Coin and Banknote Lots Including Canadian Silver Dollars, 50c, 25c and 10c, German Mint Low Edition Silver Coins,

Royal Canadian Mint (Current, Subscription, Sold Out and Archived Issues), World Gold Coins, Coin and Paper Money Collections from across Canada, the United States, the UK and Europe: Silver & Gold Collector Bullion Including Johnson Matthey,

Die-cast Collectibles, Sculptures and Carvings, Collector Stamp Collection, Brand New Jewellery Store Liquidation Inventory: Watches, Gold, Silver, Diamonds, Gemstones and Swarovski Elements; Sports Memorabilia, Nostalgia, Collectibles, Die-cast Collector Vehicles (Corgi, Matchbox), Comic Books, Gallery Artwork and Much More!

New items arrive daily, please check back for catalog updates.

All bidders to be approved for this auction. The approval process is prompt, you may pre-register now. Please visit www.auctionnetwork.ca for more information. Thank you.

ONLINE BIDDING

Catalogues will be posted prior to each auction sale for pre-bidding.

LAUNCH LIVE ONLINE AUCTION CATALOGUE

TERMS & CONDITIONS

Please review Terms & Conditions of sale prior to bidding.

VIEW TERMS & CONDITIONS

CONSIGN FOR THIS SALE

We are always accepting consignments for upcoming auction sales.

CONSIGN NOW

LIVE ONLINE AUCTION SALE

LAUNCH ONLINE AUCTION CATALOGUE

Auction Network’s family of professional auctioneers, Allen, Ryan and Zach, are proud to bring you a true live online auction experience every Wednesday, Saturday and Sunday. We waste no time, with an energetic pace and always something new and exciting. Join us live online (video/audio) or live in our studio.

Saturday Live Online Auction, April 1st, 2017

Auction start 12:00pm EST. | Preview from 11:00am EST.

Studio: Auction Network, 501 Alden Road, Markham, Ontario

Full catalogue listing available at: www.auctionnetwork.ca

This weekend’s sales will include but is not limited to:

Royal Canadian Mint (Current, Subscription, Sold Out and Archived Issues), World Gold Coins, Coin and Paper Money Collections from across Canada, the United States, the UK and Europe: Silver & Gold Collector Bullion Including Johnson Matthey,

Die-cast Collectibles, Sculptures and Carvings, Collector Stamp Collection, Brand New Jewellery Store Liquidation Inventory: Watches, Gold, Silver, Diamonds, Gemstones and Swarovski Elements; Sports Memorabilia, Nostalgia, Collectibles, Comic Books, Gallery Artwork,

Gold and Silver Coins, Certified Coins & Paper Money, Collector Medal and Token Lots, Original Mint Rolls, Searched and Unsearched Ancient Coins (Scarce Periods), Banking Script Certificates, World Currency, Bulk Coin and Banknote Lots Including Canadian Silver Dollars, 50c, 25c and 10c, German Mint Low Edition Silver Coins and Much More!

New items arrive daily, please check back for catalog updates.

All bidders to be approved for this auction. The approval process is prompt, you may pre-register now. Do you have something interesting to sell? Send us an email at info@auctionnetwork.ca. Please visit www.auctionnetwork.ca for more information about this sale and future Auction Network live online auction sales. We look forward to seeing you online or in-person.

ONLINE BIDDING

Catalogues will be posted prior to each auction sale for pre-bidding.

LAUNCH ONLINE AUCTION CATALOGUE

TERMS & CONDITIONS

Please review Terms & Conditions of sale prior to bidding.

VIEW TERMS & CONDITIONS

CONSIGN FOR THIS SALE

We are always accepting consignments for upcoming auction sales.

CONSIGN NOW

The National Postage Stamp and Coin Show  is pleased to partner with Auction Network, who will be presenting a live auction of philatelic and numismatic materials at the Spring Show.

Live viewing of the auction items will be available on Saturday, March 25 from 10 a.m. until 5 p.m., in the Britannia Room of the hotel. The auction will start at 6 p.m. The auctioneers will be accepting live and online bids.

For a complete listing of the auction items, click here.

Auction Network:

Auction Network is located in Toronto, Ont., and conducts live online auctions on a regular basis, including a full time auction consignment house. We are a full service auction company, servicing thousands of clients across North America and buyers from around the globe.

Auction Network is fully equipped with the latest technology in the auction business. In addition to live in-house auctions, we also stream our auctions live over the internet with spirited real-time online bidding (webcast with audio and video).

Our family of auctioneers are proud National Auctioneers Association members and graduates of the world-renowned World Wide College of Auctioneering.

We bring you coin and banknote auctions, Inuit art auctions, jewellery auctions, gold and silver bullion, sports memorabilia, collectibles,  estate auctions, liquidation auctions, art auctions, Christian Morrisseau Original Art Auctions, general merchandise and so much more!

COIN AND STAMP AUCTION
Live & Online Auction

THE NATIONAL POSTAGE STAMP AND COIN SHOW
The Hilton/Mississauga/Meadowvale Hotel

Address: 6750 Mississauga Rd, Mississauga, ON L5N 2L3

Phone: (905) 821-1981

LAUNCH ONLINE COIN & STAMP AUCTION CATALOGUE

Auction Network is honoured to bring you this year’s National Postage Stamp and Coin Auction Sale.

Saturday Evening Live & Online Auction, March 25th, 2017

Auction start 6:00pm EST.
Preview All Day On March 25th 10:00 AM to 6:00 PM EST

Full catalogue listing available at: www.auctionnetwork.ca

Live online or in-person this Saturday Evening, March 25th, 2017 at 6:00pm EST. The 9,000-sq.ft. hall will feature coin and stamp dealers from across Canada including a stamp and coin show.

The auction sale will will include but not be limited to: Private Estate Coin Collections, Royal Canadian Mint Issues, Gold and Silver Collector Bullion, ICCS Graded Coins, Paper and World Currency, Ancient Coins, Medal, Tokens, Rare Printing Plates, German Mint Issues, World Stamp Collector Albums and Much More!

Auctioneers: Allen, Ryan and Zachary Fleishman – Over 40 Years Selling Experience.

For more information about the show, please visit: stampandcoinshow.com.

All bidders to be approved for this auction. The approval process is prompt, you may pre-register now. Do you have something interesting to sell? Send us an email at info@auctionnetwork.ca. Please visit www.auctionnetwork.ca for more information about this sale and future Auction Network live online auction sales. We look forward to seeing you online or in-person.

ONLINE BIDDING

Catalogues will be posted prior to each auction sale for pre-bidding.

LAUNCH ONLINE COIN & STAMP AUCTION CATALOGUE

TERMS & CONDITIONS

Please review Terms & Conditions of sale prior to bidding.

VIEW TERMS & CONDITIONS

CONSIGN FOR THIS SALE

We are always accepting consignments for upcoming auction sales.

CONSIGN NOW

LIVE AUCTION : ONLINE AUCTION SALE

Auction Network’s family of professional auctioneers, Allen, Ryan and Zach, are proud to bring you a true live auction and online auction experience every Wednesday, Saturday and Sunday. We waste no time, with an energetic pace and always something new and exciting.

Sunday Live Auction | Online Auction, March 19th, 2017

Auction start 12:00pm EST. | Preview from 11:00am EST.

Studio: Auction Network, 501 Alden Road, Markham, Ontario

Full catalogue listing available at: www.auctionnetwork.ca

Preview the live auction and online auction here. 

This weekend’s sales will include but is not limited to:

Royal Canadian Mint (Current, Subscription, Sold Out and Archived Issues), World Gold Coins, Coin and Paper Money Collections from across Canada, the United States, the UK and Europe: Silver & Gold Collector Bullion Including Johnson Matthey,

Gold and Silver Coins, Certified Coins & Paper Money, Collector Medal and Token Lots, Original Mint Rolls, Searched and Unsearched Ancient Coins (Scarce Periods), Banking Script Certificates, World Currency, Bulk Coin and Banknote Lots Including Canadian Silver Dollars, 50c, 25c and 10c, German Mint Low Edition Silver Coins,

High-End Designer Estate including Name Brand Purses, Shoes and Watches, Die-cast Collectibles, Sculptures and Carvings, Collector Stamp Collection, Brand New Jewellery Store Liquidation Inventory: Watches, Gold, Silver, Diamonds, Gemstones and Swarovski Elements; Sports Memorabilia, Nostalgia, Collectibles, Die-cast Collector Vehicles (Corgi, Matchbox), Comic Books, Gallery Artwork and Much More!

New items arrive daily, please check back for catalog updates.

All bidders to be approved for this live auction and online auction. The approval process is prompt, you may pre-register now. Please visit www.auctionnetwork.ca for more information. Thank you.

LIVE ONLINE AUCTION SALE

ONLINE BIDDING

Auction Network’s family of professional auctioneers, Allen, Ryan and Zach, are proud to bring you a true live online auction experience every Wednesday, Saturday and Sunday. We waste no time, with an energetic pace and always something new and exciting. Join us live online (video/audio) or live in our studio.

Saturday Live Online Auction, March 18th, 2017
Online Bidding

Auction start 12:00pm EST. | Preview from 11:00am EST.

Studio: Auction Network, 501 Alden Road, Markham, Ontario

Full catalogue listing and online bidding available at: www.auctionnetwork.ca

This weekend’s sales will include but is not limited to:

Gold and Silver Coins, Certified Coins & Paper Money, Collector Medal and Token Lots, Original Mint Rolls, Searched and Unsearched Ancient Coins (Scarce Periods), Banking Script Certificates, World Currency, Bulk Coin and Banknote Lots Including Canadian Silver Dollars, 50c, 25c and 10c, German Mint Low Edition Silver Coins,

Royal Canadian Mint (Current, Subscription, Sold Out and Archived Issues), World Gold Coins, Coin and Paper Money Collections from across Canada, the United States, the UK and Europe: Silver & Gold Collector Bullion Including Johnson Matthey,

High-End Designer Estate including Name Brand Purses and Watches, Die-cast Collectibles, Sculptures and Carvings, Collector Stamp Collection, Brand New Jewellery Store Liquidation Inventory: Watches, Gold, Silver, Diamonds, Gemstones and Swarovski Elements; Sports Memorabilia, Nostalgia, Collectibles, Comic Books, Gallery Artwork and Much More!

New items arrive daily, please check back for catalog updates.

All bidders to be approved for this auction. The approval process is prompt, you may pre-register now. Do you have something interesting to sell? Send us an email at info@auctionnetwork.ca. Please visit www.auctionnetwork.ca for more information about this sale and future Auction Network live online auction sales. We look forward to seeing you online or in-person.

ONLINE BIDDING
Webcast Live In Real-Time with Audio and Video

Catalogues will be posted prior to each auction sale for pre-bidding.

LAUNCH ONLINE AUCTION CATALOGUE

TERMS & CONDITIONS

Please review Terms & Conditions of sale prior to bidding.

VIEW TERMS & CONDITIONS

CONSIGN FOR THIS SALE

We are always accepting consignments for upcoming auction sales.

CONSIGN NOW

LIVE ONLINE AUCTIONS

LAUNCH ONLINE AUCTIONS CATALOGUE

We are Toronto’s Trusted, Live Online Auction House. Bid in confidence with our family of professional auctioneers, Allen, Ryan and Zach. We waste no time, with an energetic pace and always something new and exciting.

Wednesday Live Online Auctions Sale – March 15th, 2017

Auction start: 6:00pm EST. | Preview from: 5:00pm EST.

Studio: Auction Network, 501 Alden Road, Markham, Ontario

Full catalogue listing available at: www.auctionnetwork.ca

This special Wednesday evening sale will include but not be limited to:

Estate Coin Collections, Royal Canadian Mint Issues (Including: Subscription, Sold Out & Archived), Gold & Silver Bullion, World Currency, Paper Money, Silver, Gold and Platinum Coins,

Identified and Unidentified Ancient Coins, Medal and Tokens Lots, World Stamp Albums, Bulk Coin and Paper Money Lots including: Canadian Silver Dollars, 50c, 25c and 10c, Original Mint Rolls, Find Silver Kilo Coins, Mixed Mint Sets,

Brand New Jewellery & Accessories: Gold, Silver, Diamond, Gemstones; Sports Memorabilia, Nostalgia, Dealer Comic Book Lots and Much More.

Check back for updates!

All bidders to be approved for this auction. The approval process is prompt, you may pre-register now. Do you have something interesting to sell? Send us an email at info@auctionnetwork.ca. Please visit www.auctionnetwork.ca for more information about this sale and future Auction Network live online auction sales. We look forward to seeing you online or in-person.

ONLINE BIDDING

Catalogues will be posted prior to each auction sale for pre-bidding.

LAUNCH ONLINE AUCTIONS CATALOGUE

TERMS & CONDITIONS

Please review Terms & Conditions of sale prior to bidding.

VIEW TERMS & CONDITIONS

CONSIGN FOR THIS SALE

We are always accepting consignments for upcoming auction sales.

CONSIGN NOW

Coin and Stamp Online Auction

LAUNCH ONLINE COIN AND STAMP AUCTION CATALOGUE

Auction Network is honoured to bring you this year’s National Postage Stamp and Coin Auction Sale.

Saturday Evening Live & Online Coin and Stamp Auction, March 25th, 2017

Auction start 6:00pm EST. | Preview from 5:00pm EST.

Studio: Auction Network, 501 Alden Road, Markham, Ontario

Full catalogue listing available at: www.auctionnetwork.ca

Live online or in-person this Saturday Evening, March 25th, 2017 at 6:00pm EST. The 9,000-sq.ft. hall will feature coin and stamp dealers from across Canada including a stamp and coin show.

The auction sale will will include but not be limited to: Private Estate Coin Collections, Royal Canadian Mint Issues, Gold and Silver Collector Bullion, ICCS Graded Coins, Paper and World Currency, Ancient Coins, Medal, Tokens, Rare Printing Plates, German Mint Issues, World Stamp Collector Albums and Much More!

ACCEPTING QUALITY CONSIGNMENTS UNTIL MARCH 17th, 2017.

Auctioneers: Allen, Ryan and Zachary Fleishman – Over 40 Years Selling Experience.

For more information about the show, please visit: stampandcoinshow.com.

Check back soon for updates!

All bidders to be approved for this auction. The approval process is prompt, you may pre-register now. Do you have something interesting to sell? Send us an email at info@auctionnetwork.ca. Please visit www.auctionnetwork.ca for more information about this sale and future Auction Network live online auction sales. We look forward to seeing you online or in-person.

ONLINE BIDDING

Catalogues will be posted prior to each auction sale for pre-bidding.

LAUNCH ONLINE COIN AND STAMP AUCTION CATALOGUE

TERMS & CONDITIONS

Please review Terms & Conditions of sale prior to bidding.

VIEW TERMS & CONDITIONS

CONSIGN FOR THE ONLINE COIN AND STAMP AUCTION SALE

We are always accepting consignments for upcoming auction sales.

CONSIGN NOW

LIVE ONLINE AUCTION SALE

LAUNCH SUNDAY’S ONLINE AUCTION CATALOGUE

Auction Network’s family of professional auctioneers, Allen, Ryan and Zach, are proud to bring you a true live online auction experience every Wednesday, Saturday and Sunday. We waste no time, with an energetic pace and always something new and exciting.

Sunday Live Online Auction, March 12th, 2017

Auction start 12:00pm EST. | Preview from 11:00am EST.

Studio: Auction Network, 501 Alden Road, Markham, Ontario

Full catalogue listing available at: www.auctionnetwork.ca

This weekend’s sales will include but is not limited to:

Royal Canadian Mint (Current, Subscription, Sold Out and Archived Issues), World Gold Coins, Coin and Paper Money Collections from across Canada, the United States, the UK and Europe: Silver & Gold Collector Bullion Including Johnson Matthey,

Gold and Silver Coins, Certified Coins & Paper Money, Collector Medal and Token Lots, Original Mint Rolls, Searched and Unsearched Ancient Coins (Scarce Periods), Banking Script Certificates, World Currency, Bulk Coin and Banknote Lots Including Canadian Silver Dollars, 50c, 25c and 10c, German Mint Low Edition Silver Coins,

High-End Designer Estate including Name Brand Purses, Shoes and Watches, Die-cast Collectibles, Sculptures and Carvings, Collector Stamp Collection, Brand New Jewellery Store Liquidation Inventory: Watches, Gold, Silver, Diamonds, Gemstones and Swarovski Elements; Sports Memorabilia, Nostalgia, Collectibles, Die-cast Collector Vehicles (Corgi, Matchbox), Comic Books, Gallery Artwork and Much More!

New items arrive daily, please check back for catalog updates.

All bidders to be approved for this auction. The approval process is prompt, you may pre-register now. Please visit www.auctionnetwork.ca for more information. Thank you.

ONLINE BIDDING

Catalogues will be posted prior to each auction sale for pre-bidding.

LAUNCH ONLINE AUCTION CATALOGUE

TERMS & CONDITIONS

Please review Terms & Conditions of sale prior to bidding.

VIEW TERMS & CONDITIONS

CONSIGN FOR THIS SALE

We are always accepting consignments for upcoming auction sales.

CONSIGN NOW

LIVE ONLINE AUCTION SALE

LAUNCH ONLINE AUCTION CATALOGUE

Auction Network’s family of professional auctioneers, Allen, Ryan and Zach, are proud to bring you a true live online auction experience every Wednesday, Saturday and Sunday. We waste no time, with an energetic pace and always something new and exciting. Join us live online (video/audio) or live in our studio.

Saturday Live Online Auction, March 11th, 2017

Auction start 12:00pm EST. | Preview from 11:00am EST.

Studio: Auction Network, 501 Alden Road, Markham, Ontario

Full catalogue listing available at: www.auctionnetwork.ca

This weekend’s sales will include but is not limited to:

Gold and Silver Coins, Certified Coins & Paper Money, Collector Medal and Token Lots, Original Mint Rolls, Searched and Unsearched Ancient Coins (Scarce Periods), Banking Script Certificates, World Currency, Bulk Coin and Banknote Lots Including Canadian Silver Dollars, 50c, 25c and 10c, German Mint Low Edition Silver Coins,

Royal Canadian Mint (Current, Subscription, Sold Out and Archived Issues), World Gold Coins, Coin and Paper Money Collections from across Canada, the United States, the UK and Europe: Silver & Gold Collector Bullion Including Johnson Matthey,

High-End Designer Estate including Name Brand Purses and Watches, Die-cast Collectibles, Sculptures and Carvings, Collector Stamp Collection, Brand New Jewellery Store Liquidation Inventory: Watches, Gold, Silver, Diamonds, Gemstones and Swarovski Elements; Sports Memorabilia, Nostalgia, Collectibles, Die-cast Collector Vehicles (Corgi, Matchbox), Comic Books, Gallery Artwork and Much More!

New items arrive daily, please check back for catalog updates.

All bidders to be approved for this auction. The approval process is prompt, you may pre-register now. Do you have something interesting to sell? Send us an email at info@auctionnetwork.ca. Please visit www.auctionnetwork.ca for more information about this sale and future Auction Network live online auction sales. We look forward to seeing you online or in-person.

ONLINE BIDDING

Catalogues will be posted prior to each auction sale for pre-bidding.

LAUNCH ONLINE AUCTION CATALOGUE

TERMS & CONDITIONS

Please review Terms & Conditions of sale prior to bidding.

VIEW TERMS & CONDITIONS

CONSIGN FOR THIS SALE

We are always accepting consignments for upcoming auction sales.

CONSIGN NOW

LIVE ONLINE AUCTION SALE AT THE
NATIONAL POSTAGE STAMP AND COIN SHOW


SATURDAY EVENING, MARCH 25TH AT 6:00 PM EST.

PREVIEW ON SATURDAY, MARCH 25TH AT 11:00 AM EST.


PRIVATE ESTATE COIN COLLECTION – ROYAL CANADIAN MINT (SOLD OUT, RARE ISSUES) – GOLD & SILVER COLLECTOR BULLION – ICCS GRADED COINS, PAPER MONEY & WORLD CURRENCY – ANCIENT COINS, MEDALS, TOKENS – RARE PRINTING PLATES, GERMAN MINT ISSUE – WORLD STAMP COLLECTOR ALBUMS – ORIGINAL CHRISTIAN AND NORVAL MORRISSEAU ARTWORK AND MUCH MORE!

ACCEPTING QUALITY CONSIGNMENTS
0% COMMISSION ON CONSIGNMENTS


Items must be received by: March 17th, 2017
Free Pick-Up in the local GTA Area.
Email Your Listing To: info@auctionnetwork.ca

By Bret Evans

Although a great thing for collectors, Canada’s effort to create circulating gold coins was probably doomed from the outset.

Plans for circulating gold coins are almost as old as Canada.

In the late 1890s, the Klondike gold rush was in full swing. It was the biggest gold rush North America had even known, and most of the precious metal was finding its way to Seattle or San Francisco instead of Canada.

Advocates of circulating gold coins were keen to see a domestic market for gold, and there were issues of national dignity.

Canadian banks, on the other hand, were not interested in the idea of gold coinage at all, seeing it as competition for their lucrative revenue from printing banknotes.

As early at 1901, the Canadian government committed to gold coins. Finance Minister William Stevens Fielding even went as far as asking Lyman George, head of the U.S. Treasury, if it was possible to make Canadian gold coins legal tender south of the border, offering to make U.S gold coins legal tender in Canada.

Fielding saw it as an advantage for international trade. At this time, debts between banks were settled by transferring ownership of gold or by using government notes backed by gold, and debts between nations were usually paid in gold.

The idea of gold coinage was soundly rejected, and these plans were put on hold.

OTTAWA BRANCH OPENS

When the Ottawa branch of the Royal Mint set up operations, one of its stated objectives was to produce gold coins. In the absence of any Canadian gold coins, British sovereigns were struck, with the first issue being struck in 1908. The Mint regulations of 1909 stated gold producers sending ore to the Mint for refining would be paid in sovereigns as far as possible, with any fractional balance being paid by cheque.

That didn’t mean the government had given up on Canadian gold coins. In 1907, it had reaffirmed the idea, planning to produce coins with values of $2.50, $5, $10, and $20, copying the U.S. system.

In 1908, Fielding asked the Royal Mint in Britain to work on designs for a series of gold coins using the Canadian coat of arms on the reverse.

At the same time, alternate designs were sought from the Paris Mint as well as Henri Dubois, designer of the 1908 Quebec Tercentenary Medal, and several other medalists.

THE DETAILS

The coat of arms design continued to be the favourite, and discussions began to focus on details. Because Fielding wanted the denomination spelled out in words, the $2.50 value was abandoned.

Even so, in 1910, when the Currency Act was amended to include gold coins, all four aforementioned values were included in the legislation. The act also specified for the coins to have a purity of .900 and the same weight as their U.S. counterparts.

The death of King Edward VII in 1910 meant the Mint had to focus on new coin designs and master tools, so the idea of making gold coins was put on hold. Designs were approved, but there was no time to produced master tools.

In any case, it was not a pressing issue. Delays in the construction of the refinery at the Ottawa Mint meant the supply of gold was limited. Metal was being sent to government assayers for refining, but the refinery would not be completed until January 1911.

At this point, the government was keen to start and pressured the Royal Mint for master tools for $5, $10, and $20 gold coins.

Tools were sent for the two lower denominations only. The Royal Mint explained Fielding had ordered the tools in 1909 to focus on $5 and $10 coins and never rescinded that advice.

MORE DELAYS

The designs still required government approval, but once again there were delays. By late 1911, it was clear it would be another year before Canada saw circulating gold coins.

Production began in July 1912. While there was a brief surge of interest, most Canadians didn’t seem interested in carrying gold coins around.

The vast majority of them ended up in the government’s hands, eventually being held by the Bank of Canada as part of Canada’s strategic gold reserve.

But with the First World War came changes to the Finance Act. Banks were authorized to pay their debts using their own notes, and the redemption of government notes in gold coins was suspended.

While visitors at the Ottawa Mint could still buy gold coins as souvenirs, no gold coins were released into the banking system. Concerned about wartime costs, the federal government was holding as much gold as possible to pay foreign suppliers. Those suppliers, mostly in the U.S., redeemed government cheques at banks in that country, and those banks preferred to be paid in standard gold bars rather than Canadian gold coins.

In January 1915, the Finance Department cancelled all orders for gold coins and instructed the Mint to produce only gold bars.

The production of gold coins was never resumed. Most of the coins produced remained in bank vaults for the better part of a century.

Recently the Bank of Canada divested itself of the coins, melting most of them but selling the remainder to collectors through the Royal Canadian Mint.

After the war, most nations returned to the gold standard, but just a few years later they again suspended the redemption of notes for the precious metal.

The Great Depression saw a rush to redeem government notes for bullion, which reduced the money supply. In Britain there were several speculative runs on the Bank of England, and in the U.S. the situation became so bad that private ownership of gold coins and bullion was made illegal from 1934-75.

By the end of the Second World War, a new system, the Bretton Woods system, all but eliminated the individual’s right to redeem paper money for gold while allowing governments to exchange currency for gold at fixed rates.

Initially the value of an ounce of gold was set at $35 US. This system, which often saw the exchange rate lower than the market value for gold, was untenable. Starting in the late 1970s, more nations abandoned the gold standard, letting their currencies float on the market.