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Wednesday, January 01, 2014

Bank Of Canada's Gold Coins To Be Liquidated In Push To Balance Books

http://www.theglobeandmail.com/news/politics/bank-of-canadas-gold-coins-to-be-liquidated-in-federal-push-to-balance-books/article16141316/

Canada’s first gold coins had barely been minted before Ottawa yanked them out of circulation a hundred years ago in an effort to stop gold from leaving the country during the First World War.
After a century of sitting in cloth bags inside the Bank of Canada vault, they are among a wide range of assets the Conservative government is liquidating – in this case literally – to save taxpayers a few dollars and help balance the books. The plan is to melt down more than 200,000 gold coins from the years 1912 to 1914, when Ottawa suspended the gold standard.


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