Logo Title
obverse
reverse
CoinArchives
Context
Years: 1990–2003
Issuer: Canada Issuer flag
Currency:
(since 1858)
Total mintage: 4,705,485
Material
Diameter: 30 mm
Weight: 31.1 g
Gold weight: 31.10 g
Thickness: 2.93 mm
Shape: Round
Composition: 99.99% Gold
Standard: Silver ounce
Magnetic: No
Technique: Milled
Alignment: Medal alignment
Obverse
OBVERSE ↑
flip
Reverse
REVERSE ↑
References
KM: #Click to copy to clipboard191
Numista: #7501
Value
Exchange value: 50 CAD = $36.57
Bullion value: $5184.80
Inflation-adjusted value: 108.23 CAD

Obverse

Description:
Queen Elizabeth II at 64, wearing the royal diadem and jewels, facing right.
Inscription:
ELIZABETH II

50 DOLLARS 1998
Script: Latin
Designer and engraver: Dora de Pédery-Hunt

Reverse

Description:
Maple leaf emblem
Inscription:
CANADA

9999 9999

FINE GOLD 1 OZ OR PUR
Script: Latin
Designer: Walter Ott

Edge

Reeded

Mintings

YearMint MarkMintageQualityCollection
1990815,000
1991290,000
1992368,900
1993321,413
1994180,357
1995208,729
1996143,682
1997478,211
1998593,704
1999627,097
2000
2001138,878
2002344,883
2003194,631

Historical background

In 1990, Canada's currency situation was dominated by the lingering effects of the Bank of Canada's aggressive battle against inflation under Governor John Crow. Having officially adopted a policy of price stability as its primary goal in 1988, the central bank maintained a tight monetary policy with high interest rates throughout 1990. This approach successfully reduced inflation from the highs of the previous decade but came at a significant economic cost, contributing to a slowdown that would deepen into a severe recession by the year's end. The high interest rates also attracted foreign capital, which propped up the value of the Canadian dollar, keeping it relatively strong despite weakening economic fundamentals.

The Canadian dollar traded in a range roughly between 85 and 89 cents U.S. for much of the year, a level considered high by historical standards at the time. This strength was a double-edged sword: it helped control inflation by making imports cheaper but simultaneously hurt the crucial export sector, particularly manufacturing and forestry. Businesses struggling to compete internationally due to the high "loonie" added to the growing political and public pressure on the Bank of Canada to ease its restrictive policy. The currency's value became a focal point in the national debate over the trade-offs between conquering inflation and fostering economic growth.

By the close of 1990, the economic landscape was shifting decisively. The recession, compounded by the new Goods and Services Tax (GST) implemented in January 1991, forced a policy pivot. With inflation visibly receding and unemployment rising, the Bank of Canada began a gradual easing of interest rates in late 1990, a process that would accelerate in 1991. This marked the start of a long decline for the Canadian dollar, which would lose substantial ground against the U.S. currency throughout the following years as monetary policy focused on stimulating a stagnant economy rather than defending the currency's value.

Series: GML 3rd portrait

5 Dollars obverse
5 Dollars reverse
5 Dollars
1990-2003
10 Dollars obverse
10 Dollars reverse
10 Dollars
1990-2003
20 Dollars obverse
20 Dollars reverse
20 Dollars
1990-2003
50 Dollars obverse
50 Dollars reverse
50 Dollars
1990-2003
1 Dollar obverse
1 Dollar reverse
1 Dollar
1993-2003
2 Dollars obverse
2 Dollars reverse
2 Dollars
1994
Rare