New Royal Canadian Mint 2024 Single-Sourced Gold Maple Leaf Coin Features Agnico Eagle's Detour Lake Mine

If you ever wanted to own gold poured right here in Northern Ontario, now’s your chance.

The Royal Canadian Mint has unveiled its 2024 single-sourced gold maple leaf bullion coin, making history as the first time a Northern Ontario mine is featured in the program.

The coin is crafted entirely from gold poured from Agnico Eagle's Detour Lake mine, situated about 300 kilometres northeast of Timmins. This marks the second collaboration between Agnico and the Royal Canadian Mint for the bullion — a coin made from highly refined precious metal.

One side of the coin features King Charles III, while the other showcases a maple leaf design by Walter Ott.

Andre Leite, Agnico Eagle's vice president of Ontario operations, highlighted the sustainable practices employed at the Detour Lake mine.

"This coin is made from gold produced sustainably, adhering to high standards of environmental and community engagement,” Leite said.

“We’re proud northern miners, and it’s rewarding to see our work now supporting this initiative.”

The single-sourced gold maple leaf bullion was launched by the Royal Canadian Mint in 2022, beginning with Agnico's Meliadine mine in Nunavut. Subsequently, Newmont’s Élénore mine in northern Québec was chosen last year.

"This initiative demonstrates our ability to showcase the quality of gold and aligns with growing customer demand for transparency in sourcing,” said Alexandre Reeves, senior manager of public affairs at the Royal Canadian Mint.

"We’re the first mint in the world to refine gold to four nines and issue bullion in 99.99 per cent purity. Our products also include advanced security features to confirm authenticity, adding to the appeal of controlled sourcing."

With a personal connection to the coin, Leite expressed his intention to purchase a coin for each of his children, considering them valuable investments.

"I have three kids, and I want each of them to have one coin, given the time I’ve spent working at this mine making it,” he said.

Currently, Detour Lake operates as an open pit mine, but Agnico Eagle has plans to ramp up production at the site by 50 per cent over the next seven years, primarily through an underground expansion.

Moreover, the company is exploring the development of the Upper Beaver project, a gold deposit located near Kirkland Lake.

"We expect to produce around one million ounces of gold a year. There aren’t many mines capable of that,” Leite said.

The coin is valued at $50, yet as of Friday (Oct. 11), it retails for over $3,840. The retail price is subject to change, reflecting the market value of gold.

Those interested in purchasing the coin can do so online here. It is not yet clear when the coin will be available at Costco.