Canadian Mint Has “Lost” Millions Worth of Gold

The mint’s missing stock of precious metals is worth tens of millions of dollars, the Star has learned.

[efoods]While officials at the Royal Canadian Mint have not publicly released a value, insiders have confirmed that auditors are trying to track precious metals, believed to be gold, worth in the “double digits” of millions.

At today’s prices, $10 million worth of gold would weigh more than 250 kilograms.

An external audit, launched in early March, is trying to reconcile the mint’s records with the physical stocks of gold, silver, platinum and palladium, the four precious metals used by the Crown corporation in its production of coins and collector sets.

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This article was posted: Tuesday, June 9, 2009 at 10:43 am

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