For more than 10 years, the South African Krugerrand dominated the world’s bullion coin market. The 22-karat coin stood alone and tall as the most accessible means for the private citizen to own gold.

The Royal Canadian Mint decided to push back in 1979 when it introduced its Gold Maple Leaf. At the time, the RCM believed that minting the coin to be 99.9% pure gold would serve as ample differentiation from the Krugerrand.

However, mint officials believed that their technical prowess was capable of something greater – something truly remarkable. So, three years later, in 1982, the Royal Canadian Mint began to issue the Maple Leaf with a fineness not previously achieved.

The Gold Maple Leaf was the first widely available sovereign bullion coin to feature a .9999 fine gold composition. To date, it remains the purest coin in the world – although others have tied it since then.

This page is your guide for investing in the world’s original ultrapure gold coin. Let’s discuss this most important response to the Krugerrand in greater detail.

Key Specs at a Glance

History & Background

The South African Krugerrand was the first bullion coin to be mass-produced for the general public. For 12 years, there was no competition to the RSA’s coin.

However, many of the world’s countries grew increasingly dismayed at South Africa’s apartheid policy. Canada sensed an opportunity to present the market with a different sovereign bullion coin option. So, it became the first country to compete against the Krugerrand when it released the Gold Maple Leaf in 1979.

Initially, the Royal Canadian Mint issued the coin in a single size – 1 oz. It was also issued with 99.9% pure gold, or .999 fine.

At the time, this iteration of bullion coin was significantly purer than the Krugerrand. The RCM did not rest on its laurels, though.

Three years later, it made history with the first publicly available bullion coin minted to be 99.99% pure, or – as the cool kids say – “four nines fine.” Other sovereign mints, including the US Mint and the Austrian Mint, have added their ultrapure coins since then, but the Royal Canadian Mint put itself on the world’s map with its .9999 fine gold Maple Leaf.

The RCM has also distinguished itself in the field of coin security. In 2014, it issued the Maple Leaf with a new proprietary technology called Bullion DNA™. Bullion DNA™ engraves a micro-privy mark into each Maple Leaf, which, combined with laser-etched radial lines and other elements invisible to the naked eye, generates a virtual fingerprint for each Maple Leaf.

Once again, other sovereign mints have since joined the party with respect to laser micro-engraving their coins as security and authenticity features. However, the RCM has proven itself to be the early adopter and pioneer in bullion coin innovation several times throughout the production run of the Gold Maple Leaf.

Why .9999 Purity Matters

Now, to those of us investing in the present day, the notion of a four-nines fine gold coin or gold bar is not terribly noteworthy. Gold vehicles bearing this highest purity level are growing more common, and the Maple Leaf is not the only .9999 fine gold bullion coin on the market anymore.

However, at the time of the four-nines fine Maple Leaf’s 1982 release, 99.99% pure gold was simply not an option for many refiners, sovereign or otherwise. For investors seeking to maximize the purity of their gold holdings, it was nothing short of a revelation.

In terms of the elemental masses involved, the difference between three-nines fine and four-nines fine is incredibly small. If you compared two 1-oz coins, the .9999 fine coin would have only 28 milligrams more gold within its composition than its .999 counterpart.

The difference between four-nines fine and 22-karat gold (.9167 fine) is much greater. In two coins of equal size with those purities, you would have around 2.6 grams more gold in the .9999 coin.

HOWEVER, 22-karat gold bullion coins like the South African Krugerrand and the American Gold Eagle are made with a full troy ounce of gold, just like the Canadian Maple Leaf. The impurities within these coins mean that the coin weighs more overall, but the absolute amount of gold in each is the same.

Now, while you may be more able to preserve the purity of your gold investment with Canadian Maple Leafs, you do need to be aware of the tradeoff that comes with a purer gold coin. Gold is a very soft metal, and pure gold is quite malleable. So, you’ll find that the Maple Leaf is much more susceptible to deformation and smudging than the 22-karat bullion coins.

Canadian Gold Maple Leaf vs. American Gold Eagle

Many North American investors like to purchase the products of their native land. Naturally, that means that they must compare the pros and cons of buying a Canadian Gold Maple Leaf against those of an American Gold Eagle.

Here is a quick look at the relevant specs:

In terms of their designs, the clear winner is the American Gold Eagle. While the Gold Maple Leaf includes detailed portraits of the current British monarch and its namesake leaf, the Eagle’s Walking Liberty on its obverse, and depictions of the bald eagle (especially the newer Type 2s) are quite beautiful and pleasing to the eye.

However, the most likely buyers for the Canadian Maple Leafs are not as concerned with aesthetics. A Canadian Maple Leaf buyer’s starting point is the ultrapurity and lower relative premium, not how pretty the maple leaf appears. For that matter, if you live outside the US, it may seem strange to have a bird on a coin, anyway.

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If you are ready to get started with high-purity investing, we’re here to help. We have a wide selection of Canadian Maple Leafs available to you.