1912 Canada's First Gold Coin 5 dollars EF-45 RARE

Description

Coin is encapsulated and presented in a sealed Hard Holder
Condition as seen on pictures. This is the actual coin you will receive.
Coin was graded by Canadian Coin Certification Service (CCCS)
Rare - Low Mintage 165 680
The project to mint Canadian gold coins was considered when Canada joined the world gold standard system with the intention to simplify trade. The gold standard is a monetary system in which the monetary unit is defined with reference to a fixed weight of gold and each national currency is freely convertible into gold. To ensure this convertibility, the amount of money issued by the central bank is strictly limited by its gold reserves.
Production of the gold coins started in 1912 and continued until 1914, when it was decided to hoard the vast majority of the gold to fund the war effort. At the same time, the call was made asking people who held gold coins to exchange them for paper money so that the government could control the country's gold supply. Without being able to predict it, the Mint was producing the last series of gold circulation coins that would ever be created. The gold coin program was canceled in favor of gold bullion in 1915. In 1929, Canada ceased converting Dominion notes into gold, ended its adherence to the gold standard, and relinquished its plans to issue gold coins again.
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