Last updated on May 2nd, 2024 at 03:37 pm
Last Updated on May 2, 2024 Posted by Colonial Acres Coins
Why the Royal Canadian mint produced the Montreal Olympic coins
The Montreal Mayor in the initial stages of cost planning for the 1976 Olympic Games believed that most of the money to host the event could be raised through the sale of the Olympic coins, stamps, and lottery tickets. However, by the times the games were over, the cost had risen astronomically. The cost for the Olympic Stadium alone was $1.5 billion. At the government’s request in 1973, the Royal Canadian Mint agreed to help with the financing of the Montreal Summer Olympics with a production of thirty coins, twenty-eight in Silver and two in Gold. This would also be the first time that coins with face values of $5 and $10 would be issued by the Mint. The Olympic coins were issued to sell in seven series, with each of the sets configured into four coin sets of two five dollars and two ten dollar coins.
The seven series
- Early Canadian Sports
- Olympic Track and Field Sports
- Geographic
- Olympic Motifs
- Olympic Team and Body Contact Sports
- Olympic Water Sports
- Olympic Souvenirs
Standardized Designs and Unique finishes
The twenty-eight silver coins were similarly styled with the obverse all containing the Olympic logo, the denomination, and wording in the same spot on the coin. The styled finishes of a satin, frosted effect, were also new for Canadian coinage. Proof sets came with a cameo of details and full mirrored surfaces. As often happens with scheduled release sets, the later releases are far scarcer than the earlier ones. The reason for this is that people collecting coins do not always complete their sets, or sell silver coins from the sets. This is particularly true of the proof issues of the six and seven series. For one reason or another, or simply demand, people do sell Olympic sets.
The Montreal Olympic 1976 coin sets are considered as one of the best known Royal Canadian Mint issues. This is due to extensive promotion both in Canada and abroad as a commemoration of the 1976 Montreal Olympics and proving to be very popular at its issue with many sets ordered by the collecting public. The sets consisted of 14 $5 coins and 14 of $10 coins depicting different events of the Olympic Games held at venues around Montreal and Eastern Canada and were arranged in seven series of four coins each. The packaging ranged from single coins, to full hinged boxes, and walnut cabinets that came with sliding trays.
At Colonial Acres Coins our knowledgeable and pleasant staff are here to appraise your valuables. All you need to do is bring in your old Jewellery, Silverware, Coin and or Paper money collections to our store for our assessment. We will pay you top dollar if you decide to sell. Contact us today!
