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 and refinery.

President and CEO of the Royal Canadian Mint, Ian E. Bennett, stated that the program would 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 successful. 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 pure silver bars, Maple Leaf coins, and cash, which will depend on the future silver price or the silver market price.

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