Royal Canadian Mint launches 10-ounce silver bullion bar
- Published: Jul 28, 2014, 12 PM
The Royal Canadian Mint has begun delivery of 10-ounce .9999 fine silver bullion bars to distributors.
The RCM announced the new product on July 24.
Each bar is machine-struck with a reeded edge, and features individual serial numbers to “add security to the renowned quality and purity of the Mint’s silver bullion bars,” according to the announcement.
The bars are being sold through the RCM’s network of bullion distributors at a slight premium over their metal value. Though the RCM does not disclose the premium they charge on bullion coins, a distributor confirmed that the price for a 10-ounce silver bar would be less than for 10 Maple Leaf 1-ounce silver $5 coins, the RCM’s flagship bullion issue.
The face of the bar features the RCM’s name, in English and French, between circles of beads surrounding the maple-leaf-style logo. Inscriptions relating to the metal fineness and purity appear between and below two maple-in-maple leaves (each having an incuse leaf centered within another leaf silhouette that is in relief). The serial number appears on a bar or plank below.
The reverse features a repeating design of the standard maple leaf logo.
The bars measure 90.022 millimeters tall and 51.92 millimeter wide, and are 4.76 millimeters thick.
The bars are being struck to order and feature the RCM’s signature bullion (or “paperline”) finish, where striations, or fine parallel lines, fill the field.
The RCM strikes its bullion at the Ottawa, Ontario, minting facility.
The new 10-ounce silver bullion bars are packaged in individual vinyl sleeves.
In keeping with a distribution model common to the world’s major issuers of bullion coins, the RCM does not sell bullion directly to the public. Interested buyers should contact a reputable bullion dealer to order the Royal Canadian Mint 10-ounce silver bullion bar. However, unlike the U.S. Mint, the RCM does not make public its list of authorized purchasers of bullion products.
Full details of the RCM’s bullion program may be found at a special section of the RCM website.
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