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The Royal Canadian Mint Report
by Jack Wogan
The Royal Canadian Mint 2008 report has finally been made public after a year-long delay. This delay was cause by the 15 million dollars of missing gold. The 2008 annual report actually showed an increase of 266% in bullion and refinery revenues of 1.04 billion dollars.
The report revealed that gold bullion sale rose at 896.000 ounces. The mint declared that this huge increase in gold bullion sale was determined by the strong demand for Gold Maple Leaf coins, waters and bars. The Royal Canadian Mint representatives declared that the stress on their operations created some significant inventory problems.
The mint also recognized that because the accounts were kept open until the precious metal content could be accurately determined also created a number of problems. When they conducted a precious metal count they discovered a difference of 17.500 ounces of missing metals. A company was hired to investigate the problem and their conclusion was that this difference was not the result of account or transactional errors.
When this happened the mint hired firms to conduct forensic reviews. The Royal Canadian Mounted Police also decided to start an investigation but realized that there was actually no need for a criminal investigation.
Last year the mint implemented refinery counts once at each quarter and more processes and procedures were consolidated.
This internal problem of the Royal Canadian Mint should not stop you to invest in the Gold Maple Leaf Coins. Owning physical gold is the best thing to do in our days. This precious metal can guarantee you the financial comfort that you need. Investing in this precious metal is on of the best decisions one could take in these times of financial worries. Economists advise the population to purchase the yellow metal with all or part of their savings. This can turn out to be the sanest financial decision that everybody could take.
About the Author
Learn from professionals how buying gold can help you in times of recession.
Colin Oberst's CBC video profile
was the winner of the CBC Hockey Night In Canada Anthem Challenge with his song, entitled "Canadian Gold". ... hockey song anthem challenge ...
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