Royal Canadian Mint Introduces New Silver Investment Product

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The Royal Canadian Mint has issued a public offering of exchange-traded receipts (ETRs) under the new Canadian Silver Reserves Program. Each ETR is the proof of ownership of physical silver bullion, held with the Mint at its reserve facilities. The Canadian Silver Reserves Program, denotes further expansion of the Mint and its success in core bullion as well as refinery.

President and CEO of the Royal Canadian Mint, Ian E. Bennett, stated the hope that the program will boost the image of the Mint as a reputable custodian of silver bullion, and bring ownership of silver to the market in creative and innovative ways. The Canadian Gold Reserves Program, running along the same lines has already proved to be a success. The same convenience is offered for investors who wish to possess silver.

Unlike other silver products, ETRs, the investor actually owns the physical silver, rather than a unit or share in a company that owns silver. ETRs can be traded through both Canadian and US currencies.

ETR owners can redeem their ETRs in physical silver in the form of pure silver bars, Maple Leaf coins and also for cash which will dependent on the future silver price or the silver market price.

ETRs are convenient for an investor, though they do possess a certain risk, as regards to the volatile and fluctuating price of silver, in the market.

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