NEW YORK — With more than two years of testing and development behind them, the world’s first gold coins will begin appearing in stores on Jan. 1.
New “Gilt” coins will be issued by the Royal Canadian Mint (RCM) for the first time.
The coins, a design based on the iconic Gilt Archipelago design by artist John Banks, will be minted for the next five years, with the first coin scheduled for 2020.
Each coin will feature a gold eagle on the reverse, a maple leaf on the obverse, and a cross on the other side.
“The Gilt” name is an acronym for the Gilt Famine of 1845.
In the late 1800s, as the world was struggling to cope with a famine in Europe, the Gilts of the British Isles became a refuge for fleeing refugees from the Gilded Age, according to the Mint.
After being lost in the sea, they were finally rescued by a shipwreck in Newfoundland in 1912 and named “Gilts” in honour of the islanders.
As the British Empire was dissolved by the First World War, the island of Newfoundland was taken over by the Dominion of Canada.
Following the end of the war, the islands were given to the Queen of the United Kingdom, and the island’s name was changed to Gilt.
Today, the Island of Gilt is one of the most visited destinations in the world, with millions of tourists each year visiting the island and enjoying the stunning scenery, food, and culture.
More information about the new coins will soon be available, the mint said.
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