The Royal Canadian Mint has revealed the fifth coin in their immensely popular $20 for $20 silver coin program.
This new $20 coin has been struck in 7.96 grams of 99.999% fine silver and pays tribute to the one cent penny, which was struck for the last time by the Royal Canadian Mint on 4th May 2012 and will be withdrawn from circulation in Canada next year from 4th February 2013.
The reverse of the coin features a maple leaf design by Jesse Koreck that featured similarly on the Canadian penny, but with the added flourish of water ripples on the silver coin. Susanna Blunt’s famous portrait of Queen Elizabeth II features on the obverse, which has appeared on many other Royal Canadian Mint coins, including the four previous coins of this $20 for $20 series.
Previous releases in the series have included Maple Leaf, Canoe, Polar Bear and Diamond Jubilee designs. Astonishingly, all of them have sold out within around a month of release. This is despite the mintage figure being raised from an initial 200,000 for the Maple Leaf coin to a massive 250,000 for the following three coins and also a limit of three per household for the North American market being applied by the Royal Canadian Mint.
Even with such an obviously strong sell out history, this latest coin likewise has a mintage of ‘just’ 250,000 and is limited to three per household in North America. Consequently, we can almost certainly look forward to this new coin completely selling within a matter of weeks.