What is the difference between allocated storage and unallocated storage?
Allocated storage is when a customer’s precious metals are held in specific physical form of trade bars or bullion coins and are segregated in inventory from other customers’ precious metal.

Precious metals held within an unallocated storage account is the same as holding a pool account of precious metals. The precious metals are fungible and are not segregated from other customer holdings.

What does fungible mean?
A good is fungible if one unit of the good is substantially equivalent to another unit of the same good of the same quality at the same time and place. As an example, one Canadian $10 bank note is interchangeable with another. Cash is fungible.

What is a pool account?
A pool account is also known as an unallocated storage or non-segregated account. It is in effect a precious metal account in which a client owns a defined but unallocated interest in a pool of precious metals. The client does not have title to specific (allocated) bars or coins.

What is considered a precious metal? What types of precious metals can I store in an RCM Prestige Account?
A precious metal is a rare metallic chemical element of high economic value. Ex: Gold, silver, or a platinum group metal (PGM). RCM Prestige Account holders are permitted to store gold or silver with the RCM.

What is bullion?
Precious metals valued by mass and purity rather than by face value. The metal is cast into trade bars or minted into coins of various weights.

What is a crown corporation?
A crown corporation is a legal entity created by a Commonwealth government to exercise some of the powers of the government. It can be a not-for-profit corporation or established as a for-profit business. The Royal Canadian Mint is a for-profit crown corporation, and acts as an agent of Her Majesty.

Is the Mint engaged in a dealership agreement with each of its authorized RCMPA Dealers?
No, the Mint has not entered into a dealership agreement with any of its authorized RCMPA Dealers. The Royal Canadian Mint has a collaborative arrangement with each distributor. Customers enter into an agreement to buy and sell precious metals with an authorized RCMPA Dealer. The customer then enters into a separate agreement with the Mint, who acts as custodian to the customer’s precious metals.

What is a collaborative arrangement?
A collaborative arrangement is an arrangement between two parties, where there exists an explicit agreement to work cooperatively, in order to achieve each of the parties’ objectives. Note: the Mint has not entered into a dealership agreement with its authorized Dealers, but has established a collaborative arrangement for the purposes of distributing the RCMPA program.

What does custodian mean?
A custodian is one who is entrusted with safe guarding and maintaining property. The Mint acts as a custodian for all precious metals held within RCM Prestige Accounts.

I want to purchase Gold Maple Leaf products from the Mint. Will this program facilitate the process?
No, the RCMPA program is not a trading program, nor is it intended to facilitate customer’s purchase of Gold or Silver Maple Leaf products. The RCMPA program is an unallocated storage program, which offers its customers an economical method of storing precious metals.

What happens if an authorized RCMPA Dealer goes out of business?
During the application process, customers are asked to accept the terms of separate agreements. One agreement is made with the customer and the authorized RCMPA dealer to establish the terms of buying the precious metals, and a second agreement is entered into between the Mint and the customer regarding the storage of the precious metals. This is not a tri-party agreement. The customer has a direct relationship with the Mint. As an RCM Prestige Account holder, the Mint has the custodial responsibility for the credits in your account. This means that debt collectors for any authorized RCMPA dealer who goes out of business cannot seize the credits from your RCMPA account. Your precious metals will remain safeguarded within the Mint’s facilities in the event that an RCMPA dealer goes out of business.

What does “finished product” mean?
Finished product is gold which has been cast into its final form. Example: 400 oz bars, grain, bullion coin, wafers, etc.

Can I request finished product directly from the Mint?
While typically customers sell credits through the authorized RCMPA dealers, a customer can request physical outturn directly from the Mint. However, the Mint is permitted a peroid of ten (10) business days before providing physical to the customer. There are also fabrication fees associated with this method (please refer to your contract for further details). Payment for fabrication fees and applicable taxes must be received before or at the time of pick up or the Mint will not release the material. Customers are required to coordinate their own arrangements for transportation, and insurance for the physical goods, at their own cost. For hassle-free delivery of finished product, we highly recommend that customers direct the sale of credits in exchange for physical through an authorized RCMPA Dealer.

Who can I contact if I have further questions?
If you have further questions, please send an e-mail to RCMPA@mint.ca, where your e-mail will be reviewed and responded to by the RCM Prestige Account Manager who is an employee of the Royal Canadian Mint.

Does the Mint share my personal information with its authorized Dealers?
Due to legislative requirements, the Mint and authorized Dealers do communicate essential personal information to one another. As per the recent amendments to Canada’s Proceeds of Crime (Money Laundering) Terrorist Financing Act (PCMLTFA), dealers of precious metals must now implement a “Know Your Customer” (KYC) policy. The Mint and its authorized Dealers are subject to this legislation and require certain key pieces of personal information during the RCMPA application process. The personal identification information that you provide is used solely for verification purposes.

Is my personal information safe?
Your personal information will only be used to satisfy legal requirements. It is considered strictly confidential. Access to your personal identification information is limited to key RCMPA program administrators. Only employees who partake in the verification process will have access to your personal information.

Who are the Mint’s authorized RCMPA Dealers?
The Mint currently has one authorized RCMPA Dealer: Kitco Metals Inc. Please visit http://www.kitco.com/ to apply for an RCM Prestige Account.

I am interested in opening a joint RCM Prestige Account. Is this possible?
The RCM Prestige Account is not designed to be a true joint account. The account holder’s username is the e-mail address provided by the primary contact during the application process. We will only communicate with the primary contract of the account through this e-mail address. If the purchase of the precious metal credits within the account is a joint investment, we can list one other individual on the account to indicate the joint ownership of the account’s contents. However, we cannot establish separate usernames or passwords, and therefore can only take directives from the primary contact person.

I live outside of Canada. Can I still open an RCM Prestige Account?
The Mint currently accepts applicants from a limited number of countries. For further information on the list of acceptable countries, please visit an Authorized RCMPA Dealer’s website. In addition, please note that it is the responsibility of the applicant to ensure that they are in compliance with all laws and regulations within their jurisdiction when opening an RCM Prestige Account to store their precious metals.

What happens if the Mint goes bankrupt?
The Mint is a financially stable Crown corporation, in existence for more than 100 years. The Mint is owned by, and is an agent of, the federal Crown. Therefore, in the unlikely event that the Mint was to file for bankruptcy, the Government of Canada would be held accountable for the quantity of precious metals held in the RCMPA.

There is a discrepancy between my RCMPA balance at the Mint’s site and the balance on the authorized RCMPA dealer’s site.
If you have recently made a purchase through an RCMPA Dealer’s site, please note there may be a delay of up to 48 hours to reflect the changes in the balance your RCMPA account. If the balance is still not updated after 48 hours, please contact the Authorized RCMPA Dealer with whom you placed the transaction.

How do I find out the monetary value of my account holdings?
The Mint does not calculate the monetary value of your account holdings, as the value of precious metals are subject to market volatility. The RCMPA program is not an investment program, and the Mint does not reflect the value of your precious metals based on the date of purchase. This is a storage program only. All balances are recorded and displayed in fine troy ounces.

What is a troy ounce?
A troy ounce is the unit of weight traditionally used for precious metals and gemstones. The troy ounce differs from the more commonly used ounce (the avoirdupois ounce) used in the U.S. and Canada for sugars, grains, etc. It is slightly heavier than the avoirdupois ounce, weighing approximately 10% more. A troy ounce is the equivalent of approximately 1.1 avoirdupois ounces.

Does the Mint use my precious metals to hedge its own investments?
No, the Mint does not use any of its customer’s precious metals to hedge its own investments. The Mint does not invest in precious metals nor does it speculate by knowingly assuming metal price exposures or positions for which there is no underlying requirement, for the purpose of trading for a profit or capital gain.