Royal Canadian Mint

Coordinates: 45°25′53″N 75°41′57″W / 45.43135°N 75.699282°W / 45.43135; -75.699282

Royal Canadian Mint
Monnaie royale canadienne
Crown corporation
Industry Coin mintage
Founded January 2, 1908 (1908-01-02)
Headquarters Ottawa, Ontario, Canada
Number of locations
 3 [1]
Area served
 Worldwide
Key people
 Sandra Hanington (CEO)
Products Coins
Services Precious metal storage, assay, refinery and coin production
Revenue Increase CAD$ 3,375.2 million (2013)[2]
Increase CAD$ 47.158 million (2013)[2]
Profit Increase CAD$ 36.230 million (2013)[2]
Total assets Increase CAD$ 458.421 million (2013)[2]
Total equity Increase CAD$ 303.187 million (2013)[2]
Owner Government of Canada
Number of employees
 Approx. 800 (2012)[3]
Website mint.ca

The Royal Canadian Mint (French: Monnaie royale canadienne) is a Canadian Crown corporation, and operates under the legislative basis of the Royal Canadian Mint Act.

The shares of the Mint are held in trust for Her Majesty in right of Canada.

The Mint produces all of Canada's circulation coins,[4] and manufactures circulation coins on behalf of other nations. The Mint also designs and manufactures: precious and base metal collector coins; gold, silver, palladium, and platinum bullion coins; medals, as well as medallions and tokens. It further offers gold and silver refinery and assay services.

It also serves the public’s interest while mandated to operate “in anticipation of profit”, meaning that it functions in a commercial manner and does not rely on taxpayer support to fund its operations.[5] Like private sector companies, the Mint has a Board of Directors consisting of a Chair, the President and CEO of the Mint and eight other Directors.

Traditionally, the President of the Royal Canadian Mint is known as the Master of the Mint. The current president is Ian E. Bennett, who was appointed to the position in June 2006 and was re-appointed to a further three-year mandate effective June 12, 2011. The Board of Directors, through the Chair, is accountable to the Minister of Finance (Canada). The Minister serves as the link between the Mint, Cabinet and Parliament.

The Mint was named one of “Canada’s Top 100 Employers” by Mediacorp Canada Inc. for four consecutive years (from 2007 to 2010).[6]

In March 2012 the Canadian Government decided to cease the production of pennies.[7] The final penny was minted at the RCM's Winnipeg, Manitoba plant on the morning of May 4, 2012.[8]

In April 2012, the Mint announced that it was developing MintChip, a digital currency[9] to allow anonymous transactions backed by the Government of Canada and denominated in a variety of currencies.[9][10]

History

The Royal Canadian Mint logo until June 2013.

Ottawa facility

Royal Canadian Mint Historic Buildings at Sussex Drive, Ottawa

For the first fifty years of Canadian coinage (cents meant to circulate in the Province of Canada were first struck in 1858), the coins were struck at the Royal Mint in London, though some were struck at the private Heaton Mint in Birmingham, England. As Canada emerged as a nation in its own right, its need for coinage increased. As a result, a branch of the Royal Mint was authorized to be built in Ottawa in 1901[5] after being first proposed in 1890.[11][12]

During a short ceremony, Lord Grey and his wife, Lady Grey, activated the presses for the Canadian Mint on January 2, 1908, officially opening the Ottawa branch of the Royal Mint. When the facility first opened, it had 61 employees.[13] Three years later the Mint began refining gold by electrolysis in its assay department. This method proved to be too time-consuming and in 1915 the Mint introduced a new chlorination process developed in Australia to reduce processing times and increase the Mint’s gold refining capacity.[5] Since then, the Mint’s refinery has undergone several changes and expansions. Today’s process is a combination of chlorination and electrolysis.

Over the years the Mint had used different processes to recover and sell the silver often found in unrefined gold, but, in 2006, the Mint opened a new, state-of-the-art silver refinery that finally allowed it to refine silver. The silver is first upgraded in an oxygen converter and then refined by electrolysis.

It wasn’t until the Great Depression that the Ottawa Mint negotiated its independence from the British Royal Mint. In 1931, the Ottawa Mint was renamed the Royal Canadian Mint and began reporting solely to the Department of Finance. Although the Mint continued to rely on the Royal Mint to produce the master tools required for the creation of its punches and dies, the Mint was finally under Canadian control. In 1969, the Government of Canada reorganized the Mint as a Crown corporation.[5] As such, the Mint was no longer a branch of the Department of Finance. It would operate like a corporation with its own Board of Directors and increased decision-making powers.

In 1979, the Royal Canadian Mint building in Ottawa was designated a National Historic Site of Canada, on the grounds that the building is representative of the federal government’s approach to using the Tudor Gothic architectural style to create a distinctive identity in Canada's capital, and of the patriation of control over Canada’s currency from Britain.[14]

The Mint’s facility in Ottawa is currently responsible for producing collector and commemorative coins, bullion in the form of coins, bars, wafers and grain, medals and medallions. This is also where the master tooling is done to create the dies that strike coin designs for both circulation and commemorative issues. The Mint's gold and silver refineries and assay labs are also located in Ottawa, as is a full-time Advanced Engineering Research team dedicated to R+D projects.

The last surviving member of the Mint’s original staff was Owen Toller. He started in the Mint as a Junior Clerk and retired as an Administrative Officer. He retired after 45 years of service on January 6, 1953.[13] Mr. Toller died in November 1987 at the age of 102.

Winnipeg facility

The Winnipeg Royal Canadian Mint

In November 1960 the Master of the Mint, N.A. Parker, advised the Minister of Finance that there was a need for a new facility. Capacity had already been reached in Ottawa. The Philadelphia Mint was producing a large number of Canadian 10¢ coins and all numismatic coins were being produced in Hull, Quebec. It was finally recognized that the Mint required an additional facility. In 1963 and 1964, the government discussed the possibility of building a new facility, which would be functional within two years. Prime Minister Lester B. Pearson suggested building the facility in Elliot Lake, Ontario.[5] A 1968 study indicated that the Ottawa Mint facility was truly antiquated. When the Royal Canadian Mint became a Crown corporation in 1969, many believed that a decision would be reached.[7] But although funds had been allocated for a new facility, no real planning had begun. Emphasis was made on finding space in Ottawa. It was decided that the Royal Canadian Mint would keep the historic building but have a new facility for the manufacturing of circulation coins.

The federal government of the time, led by Pierre Trudeau, decided to decentralize many public services. The result was a claim for restitution from the province of Manitoba, complaining about its loss of many military bases.[5] In February 1970, Supply and Services Minister James Richardson, the Minister responsible for the Mint, proposed the possibility of a new facility in Winnipeg.

This proposal was cause for debate because it was legally stipulated that the Mint was unlike any other government operation and that money should be produced in Canada’s capital region. Another point of tension was that the Cabinet Minister was from Winnipeg. Plants that are over 1,000 miles apart would endure communication and distribution difficulties.[5] A study had shown that the division had merit because raw materials could be purchased from a supplier in Alberta, rather than a competitor outside of Canada.[5] Eventually, it was agreed upon in December 1971 that the Mint would build a facility in Winnipeg. The land was purchased in 1972 and construction began at the end of the year.

The new facility was completely different in appearance from the facility in Ottawa. Architect Étienne Gaboury designed a striking triangular building that rises up dramatically from the surrounding prairie. (Note: E. Gaboury was Design Architect; Number Ten Architectural Group was Project Architect.) The Mint facility in Winnipeg was officially opened in 1976. The Winnipeg branch of the Royal Canadian Mint allowed the Ottawa facility to concentrate solely on collector coins while Winnipeg would produce the entire supply of circulation and foreign coins.

The Winnipeg facility is also responsible for producing the circulation currency of other nations. Since opening its doors in 1976, the Mint’s Winnipeg facility has produced coinage for over 70 countries: centavos for Cuba, kroner for Norway, fils for Yemen, pesos for Colombia, kroner for Iceland, baht for Thailand, and a thousand-dollar coin for Hong Kong. Other client nations include Barbados, New Zealand and Uganda.

Organizational structure

Executive and Board of Directors

The Royal Canadian Mint is a Crown corporation and operates under the Royal Canadian Mint Act. In serving the public’s interest, a Crown corporation has greater managerial independence than other government entities, meaning that it may operate in a commercial manner. Like private sector companies, the Mint has a Board of Directors composed of a chairman, the President and CEO of the Mint and eight other directors.

Traditionally, the President and CEO of the Royal Canadian Mint is known as the Master of the Mint. The current president is Ian Bennett (appointed in 2006), and the Chairman of the Board is James B. Love. In descending chronological order, the individuals who have served as the Mint’s Master Engraver are: Cosme Saffioti, Sheldon Beveridge, Ago Aarand, Walter Ott, Patrick Brindley, Myron Cook, and Thomas Shingles.

The government department responsible for the Royal Canadian Mint is the Department of Finance. There are currently 10 members of the Mint’s Board of Directors, and 12 members on its Executive Team.[15] The Royal Canadian Mint has four lines of business: Bullion and Refinery Service, Canadian Circulation, Foreign Business, and Numismatics.[16]

A listing of all the Masters of the Mint is as follows:

Name Term
James Bonar 1908–1919
Arthur H.W. Cleave 1919–1925
John Honeyford Campbell 1925–1937
Henry Edward Ewart 1938–1944
Alfred Percy Williams 1946–1947 (acting)
Walter Clifton Ronson 1947–1953
Alfred Percy Williams 1954–1959
Norval Alexander Parker 1959–1968
E.F. Brown 1968–1970 (acting)
Gordon Ward Hunter 1970–1975
Yvon Gariepy 1975–1981
D.M. Cudahy 1981–1982 (acting)
James C. Corkery 1982–1986
M.A.J. Lafontaine 1986–1993
M.R. Hubbard 1993–1994
Danielle Wetherup 1994–2002
Emmanuel Triassi 2002–2003 (acting)
David C. Dingwall 2003–2005
Marguerite Nadeau 2005–2006 (acting)
Ian Bennett 2006–2014
Marc Brûlé 2014–2015 (acting)
Sandra Hanington 2015–present

[5]

A listing of all the Mint's current Board of Directors is as follows:

Name Year Appointed
Ghislain Harvey 2003
Keith Meagher 2005
Ian Bennett 2006
Susan Dujmovic 2006
James B. Love (Chairman) 2006
Claude Bennett 2007
Kirk MacRae 2007
Carman Joynt 2007
Bonnie Staples-Lyon 2008
John K. Bell 2009
Guy P. Dancosse. 2011
Carol Skelton 2015
N. William C. Ross 2015

[17]

Bullion products and refinery

The Mint produces and markets a family of high purity gold, silver, palladium and platinum Maple Leaf bullion coins, wafers and bars for the investment market as well as gold and silver granules for the jewellery industry and industrial applications. The Mint also provides Canadian and foreign customers with gold and silver processing, including refining, assaying and secure storage.[18]

Additionally, the Royal Canadian Mint operates a technically advanced refinery in which it refines precious metals from a variety of sources including primary producers, industry, recyclers and financial institutions. The Mint refines raw gold to 995 fine through the Miller chlorination process.[5] The gold is then cast into anodes for electrolytic purification to 9999 fine using the Wohlwill process.

In May 2007, the Mint produced the world’s first and only 99.999% pure gold Maple Leaf Bullion (GML) coins. Offered in limited-edition one–troy ounce gold bullion coins, three series of these special GML coins were produced (2007, 2008, 2009) in addition to the 99.99% pure GML coin, which is produced on demand. A 100 kilo version of the 99.999% pure GML coin was produced as a promotional tool and was later sold as a product when interested buyers came forward.[19]

Canadian circulation

The Mint’s core mandate is to produce and manage the distribution of Canada’s circulation coinage and provide advice to the Minister of Finance on all matters related to coinage.

Recently, up to two billion Canadian circulation coins are struck each year at the Mint’s facility in Winnipeg. While the effigy of the reigning monarch has appeared on every Canadian coin produced by the Mint since 1908, reverse designs have changed considerably over the years. The Mint often introduces new commemorative designs which celebrate Canada’s history, culture and values.

Since 2000, all of Canada’s circulation coins have been produced using the Mint’s patented multi-ply plated steel technology except for the $1 and $2 circulation coins, which started using this technology as of April 10, 2012.[20][21]

Foreign circulation coins

Many foreign countries have had coinage struck at the Royal Canadian Mint, including circulation coins, numismatic coins, and ready-to-strike blanks. In 1970, Master of the Mint, Gordon Ward Hunter, relaunched the Foreign Circulation division. A contract for Singapore was won in January 1970, to produce six million rimmed blanks in a copper-nickel alloy.[22] This was their first export contract since a contract for the Dominican Republic 32 years earlier. The second contract came in April 1970 with the Central Bank of Brazil. The RCM produced 84 million blanks for the 50-centavo piece.[22] In August 1971, the People's Democratic Republic of Yemen placed an order for 2 million five-fil pieces. This was followed by an order from Iceland for 2.5 million one-crown pieces.

In October 1971, the Bank of Jamaica asked the RCM to produce a commemorative ten-dollar coin in sterling silver, and a twenty-dollar gold coin of proof quality. Also in 1971, the RCM made coins for the Bahamas, Bermuda, Cayman Islands, Iran, and the Isle of Man.[23] An order for 100 million general circulation five-centime and ten-centimo coins for Venezuela was received as well. By 1973, orders totalled 65 million coins, and seventy million blanks. By 1974, the Ottawa facility produced a total of 1.2 billion coins (foreign and domestic), a facility record.[23]

Part of the Winnipeg Mint's legacy is its role in producing the circulation currency of other nations. 50 million units of the 20¢ Australian coin featuring a platypus were minted in 1981.[24] These have included centavos for Cuba, kroner for Norway, fils for Yemen, pesos for Colombia, kroner for Iceland, rupiah for Indonesia, baht for Thailand, and a thousand-dollar coin for Hong Kong. Other client nations include Barbados and Uganda.

More recently, the Mint has produced coins for a variety of other countries such as New Zealand and Papua New Guinea.[25]

In 2005, the Mint was awarded a contract valued at US$1.2 million to produce 50 million toea coins for Papua New Guinea. The circulation coins were produced in denominations of 5 toea, 10 toea and 20 toea, and were manufactured at the Mint’s facility in Winnipeg.[26]

In 2008, the Mint produced over three million coloured 50-toea coins for Papua New Guinea. These were the world’s first coloured coins to circulate outside of Canada. In addition to adding a painted design to more than three million coins, the Mint was required to identically orient the design on every coin. To accomplish this, the Mint, in collaboration with Canadian robotic equipment manufacturer PharmaCos Machinery, developed its own robotic arm to “pick and place” each coin on the painting line, creating a new technical capability unique to the Royal Canadian Mint.[27]

The Mint has also supplied 230 million low-denomination coins to the Reserve Bank of New Zealand in 2006. The Reserve Bank chose to reduce the size of its existing 50-, 20- and 10-cent coins and manufacture them using the Mint’s multi-ply plating technology.

The customers have included governments, central banks, and treasuries. In 2005 alone, the RCM manufactured 1.062 billion coins and blanks for 14 countries.[28] From 1980 to 2005, the RCM has manufactured approximately 52 billion coins for 62 countries.[29] These coins are manufactured at the Royal Canadian Mint's facility in Winnipeg.

The Mint produces circulation and numismatic coins, ready-to-strike blanks, medals, medallions and tokens for customers around the world. They also offer dies, die coatings, master punches and tooling, plus roll and wrap and other coin packaging. The Mint has the capacity to produce over 2 billion circulation coins or blanks per year for foreign governments.

Numismatic coins

The Mint makes collector coins and related products for collectors and enthusiasts in Canada and all over the world. Several of these coins have earned international industry awards and in 2010, the Mint sold out the entire mintage of a record 25 collector coins.[30]

Made of base and precious metals, several of the Mint’s numismatic coins are enhanced by special technologies including holograms, enamelling, lasering and embedded crystals. The Mint also produces medals, medallions and tokens as part of this business line.

The Mint produces a great number of military decorations for the Department of National Defence including: the Sacrifice Medal, the Canadian Forces Decoration and Clasp, the General Campaign Star, the International Security Assistance Force (ISAF) and Bars, the General Service Medal, the Special Service Medal, the Operational Service Medal, the Memorial Cross and the Canadian Victoria Cross. It also produces military decorations for Veterans Affairs Canada, as well as long-service medals for the RCMP and artistic achievement awards for the Governor General of Canada.[31]

The Mint is also proud to have produced the athlete medals of the Montreal 1976 Olympic Games and, most recently, the Vancouver 2010 Olympic and Paralympic Winter Games. The Mint produced 615 Olympic and 399 Paralympic medals at their headquarters in Ottawa for the 2010 Winter Games.[32]

The Mint also designed and produced the 4,283 medals for the Toronto 2015 Pan Am and Parapan Am games.[33]

Notable coins

Royal Canadian Mint sign.

Bullion coins

In 1979, the Mint began producing its own branded bullion coins, which feature a Maple Leaf on the reverse. Since 1979, the fineness of the gold used to strike to the Gold Maple Leaf (GML) coins has increased from .999 to .9999, and, finally, to .99999 (for a special series from 2007–2009). In addition, GMLs are produced in fractional sizes: 1 ounce,  1⁄2 ounce,  1⁄4 ounce,  1⁄10 ounce,  1⁄15 ounce,  1⁄20 ounce,  1⁄25 ounce, and in sets that combine some or all of these weights. Special edition designs have commemorated the tenth anniversary of the GML (1989), the 125th anniversary of the RCMP (1997) and the 25th anniversary of the GML (1994). A three-coin set was released to commemorate the Vancouver 2010 Olympic Games (2008–2010) and a fractional GML set was issued in 2011 to commemorate the centennial of the Mint’s gold refinery. Renowned for its unrivalled purity, the Mint’s Gold Maple Leaf remains one of the world’s most popular bullion coins.[34]

Silver Maple Leaf

The Royal Canadian Mint’s Silver Maple Leaf (SML) was first issued in 1988 and featured the same design as the Gold Maple Leaf bullion coin. These coins are available to investors in 1 ounce,  1⁄2 ounce,  1⁄4 ounce,  1⁄10 ounce, and  1⁄20 ounce sizes.[35]

In 2004–05, the coins were sold in sets of four coins that featured two wildlife species: the Arctic fox (2004), and the Canada lynx (2005). Each coin was of a different value and depicted the animals in a separate pose. Colour and selective gold plating have also been applied to special issues of SML. Holograms have proved popular applications, having been featured on SML coins in 2001, 2002, 2003, and 2005.[35]

In 2010, the Mint introduced a new series of silver 9999 fine one-ounce bullion coins featuring Canadian wildlife. The first coin, launched in late 2010, depicts a wolf, while the second features a grizzly bear. The third design, depicting a cougar, was released on September 24, 2011, for public sales. The fourth in the series was a moose. The fifth coin was the pronghorn antelope The sixth and final coin was the wood bison.

Platinum and Palladium Maple Leafs

While the Silver and Gold Maple Leafs have proved endearingly popular among investors and bullion collectors, the Mint has also produced limited numbers of Platinum and Palladium Maple Leaf coins. From 2005 to 2009, Palladium Maple Leaf coins were offered in one ounce coins of .9995 fineness.[36]

Platinum Maple Leafs were struck in 1 ounce,  1⁄2 ounce,  1⁄4 ounce,  1⁄10 ounce,  1⁄15 ounce, and  1⁄20 ounce weights, between 1988–1999 and again in 2009. In addition, the Platinum Maple Leafs were sold in special issue sets in 1989 to commemorate the 10th anniversary of the GML, and in 2002 as a five-coin set featuring holograms. In 1999, the coins featured the polar bear design appearing on the inner ring of the $2 circulation coin.[36]

Canadian circulation coins

V nickel

World War II saw low mintages of most coins, as the metals (especially copper and nickel) were needed for the war effort. The composition of the 5¢ coin was changed to tombac in 1942; and the design was changed to a V for Victory in 1943. The composition was changed again to nickel-chromium-plated steel in 1944.

The concept for the V design came from Winston Churchill's famous V sign, and the V denomination mark on the US 5¢ pieces of 1883–1912.[37] A novel feature was an inscription of Morse code on the coin. This International Code message meant "We Win When We Work Willingly" and was placed along the rim on the reverse instead of denticles.[37] The regular reverse and composition were resumed in 1946. Chromium-plated steel was again used for the 5¢ coin from 1951 to 1953 during the Korean War, but the reverse was unchanged.

Centennial of Confederation

In 1967, the mint introduced a series of commemorative coins in honour of the Canadian centennial. Designed by Alex Colville, every coin produced that year featured a creature that is native to Canada: a rock dove on the 1¢ coin, a rabbit on the 5¢ coin, a mackerel on the 10¢ coin, a lynx on the 25¢ coin, a howling wolf on the 50¢ coin, and a Canada goose on the dollar. A commemorative gold $20 coin was also struck for collectors' sets, with a coat of arms on the reverse. It is worth noting that the Royal Canadian Mint actually wanted to commemorate Canada's 60th anniversary in 1927 with variant coin designs.[5]

Royal Canadian Mounted Police

For 1973, the usual 25¢ coin reverse depicting a caribou was replaced with a Royal Canadian Mounted Police officer astride a horse, to celebrate the centennial of the founding of the North-West Mounted Police (now the RCMP).

In 2007, the mint also released a $75 coloured gold coin featuring RCMP officers astride their horses, as part of an extensive program of collector coins celebrating the Vancouver 2010 Winter Games. This coin, designed by Cecily Mok, is composed of 58.33% gold and 41.67% silver.

The mint has also issued two bullion coins in celebration of the RCMP. The first is a 1997 one-troy-ounce gold coin, which was produced for the 125th anniversary of the RCMP. The second is a 2010  1⁄25-troy-ounce gold coin and was designed by Janet Griffin-Scott.

"Loonie" and "toonie"

The major change to Canadian coinage in the 1980s was the introduction of a circulating $1 coin, widely known as the loonie because of the common loon gracing its reverse. A voyageur canoe had been planned initially, but the master reverse die was lost in shipment between Ottawa and Winnipeg, so a new design was necessary. This coin was introduced in 1987, replacing the $1 banknote completely beginning in February 1989. In 1996, a $2 circulating coin (known widely as the toonie) was introduced, featuring a polar bear on the reverse, and the $2 banknote was withdrawn. The $2 coin was also a first for the mint in that it used a bi-metallic structure – the centre of the coin is bronze-coloured and the circumference is nickel-coloured.

Saskatchewan Roughriders

In September 2010, the Mint released 3 million $1 circulation coins in celebration of the Saskatchewan Roughriders’ centennial. This coin’s reverse is engraved with the Saskatchewan Roughriders’ logo and a stylized ‘100’ framed by the dates 1910 and 2010.

Foreign coins

In October 1971, the Bank of Jamaica asked the RCM to produce a commemorative ten-dollar coin in silver, and a twenty-dollar gold coin of proof quality. Also in 1971, the RCM made coins for the Bahamas, Bermuda, Cayman Islands, Iran, and the Isle of Man.[23] An order for 100 million general circulation five centime and ten centimo coins for Venezuela was received as well. By 1973, orders totaled sixty five million coins, and seventy million blanks. By 1974, the Ottawa facility produced a total of 1.2 billion coins (foreign and domestic), a facility record.[23]

Two years later, the Monetary and Foreign Exchange Authority of Macau commissioned the Royal Canadian Mint to create a commemorative coin to recognize the transfer of the Macau region to the People’s Republic of China. The coin is silver and featured a gold cameo. The face value is 100 patacas and had a diameter of 37.97mm and a guaranteed weight of at least 1 troy ounce (31.1034768 grams), while most 1 oz silver R.C.M. coins weigh 31.3 grams. The Royal Canadian Mint item number is 644309 and the issue price is $102. The coin features a Portuguese ship and a Chinese barque sharing coastal waters. The historic Ma Gao Temple (Pagoda de Barra) appears in the cameo.

In 2009, the Mint produced coins and blanks for 18 countries, including the Decimo de balboa (10-cent coin) for Panama.[38]

Numismatic coins

In 2006, the Royal Canadian Mint issued the $50 Four Seasons 5 ounce 0.9999 silver coin. This was the first 5oz pure silver coin issued by the mint, and had a limited mintage of only 2,000 coins worldwide. High-grade examples of this coin fetch $1500 to $5000 at auction. Demand for the coin has been unprecedented, and it was the lowest mintage 0.9999 silver coin ever produced by the Royal Canadian Mint until the 2009 release of "Surviving the Flood", a 1 kilo 0.9999 silver coin which has a worldwide mintage of only 1500.[39]

On October 19, 2007, the Royal Canadian Mint issued ten new collector coins, including a 25¢ coin minted to commemorate the 60th wedding anniversary of Elizabeth II, Queen of Canada, and Prince Philip, Duke of Edinburgh; and a $15 sterling silver coin bearing the effigy of Victoria, the first from the series of five coins illustrating the effigies of the previous Canadian monarchs.[40]

Toronto Transit Commission tokens

From 1954 to 2006, the Mint supplied the Toronto Transit Commission with 24 million tokens. These tokens were taken out of service in 2007 for official use. The lightweight token was replaced due to the ease in duplicating counterfeit versions. Current TTC tokens are manufactured in the United States by Osborne Coinage.

Canadian Tire

In October 2009, the Mint produced trade dollars for Canadian Tire which temporarily replaced their regular $1 coupons. The initiative called for the production of 2.5 million nickel-plated steel tokens, as well as 9,000 brass-plated steel tokens. As part of the limited-time offer, the trade dollars were distributed in 475 stores nationwide.[41]

Notable medallions

Notable innovations

Multi-ply plating

In 2000, the mint patented an improved, money-saving production method called multi-ply plating technology. Since that year, this technique has been used to produce 5¢, 10¢, 25¢, and 50¢ pieces of Canadian circulation coinage, all of which were previously minted from nearly pure nickel alloys. Similarly, a copper-plated steel blank was used to produce the 1¢ coin until production ceased in 2012. Also in 2012, multi-ply plating was introduced for the $1 and $2 coins.

This particular plating process uses a steel core that is electro-magnetically plated with a thin layer of nickel, then a layer of copper and finally another layer of nickel.[43] As a smaller quantity of copper and nickel is required, this process has reduced circulation coin production costs. The composition of plated coins is more durable, thereby reducing the number of damaged coins in circulation and increasing their overall efficiency. By varying the thicknesses of the alternating layers of nickel and copper, the Mint can also create coins with unique electromagnetic signatures, preventing fraud and producing the most secure circulation coins on the market.

Coloured coins

In 2004, the Royal Canadian Mint made numismatic history by issuing the world's first coloured circulation coin. The 25¢ coins were produced at the Mint’s facility in Winnipeg and feature a red-coloured poppy embedded in the centre of a Maple Leaf over a banner that reads: “Remember / Souvenir.” The obverse features the portrait of Her Majesty Queen Elizabeth II by Susanna Blunt. The process of adhering colour to the coins surfaces involved the utilization of a high-speed, computer-controlled and precision inkjet process. Approximately 30,000,000 coins went into circulation in October 2004 and were available exclusively at Tim Hortons locations across the country.

In 2006, the Mint produced a second colourized circulation coin in support of a future without breast cancer. The 25¢ coin features the iconic pink ribbon symbolizing breast cancer awareness.

More recently, the Mint produced two other 25¢ poppy circulation coins in 2008 and 2010, both of which feature colourized designs.

In 2008, the Mint also produced 50-toea colourized coins for Papua New Guinea. These coins are particularly unique because they were manufactured using a robotic mechanism that oriented the coins in such a way as to ensure that all the colourized designs faced the same direction.[44]

This new technology was also used to produce the “Top Three Moments” coins. These 25¢ coins were part of the Mint’s Vancouver 2010 circulation coin program and featured designs celebrating the top three favourite moments in Canadian Winter Games history. The men’s hockey gold medal at Salt Lake City in 2002 was voted by fans as the No. 1 Canadian Olympic Winter Games Moment of all time – out of 10 moments — in an online contest hosted in 2009 by the Mint and Canada’s Olympic Broadcast Media Consortium. Coming in at No. 2 was the Canadian women’s hockey gold medal at Salt Lake City 2002, followed by Cindy Klassen at No. 3 and her five long-track speed skating medals at Turin 2006. The coins marking these top three favourite moments were launched into circulation on September 29, 2009, November 17, 2009 and January 5, 2010 respectively.

Physical vapour deposition

The Mint succeeded in extending the life of the die beyond that of past chrome-coated dies, with the adaptation of the physical vapour deposition (PVD) technology to coat its dies.

Vancouver Olympics

In 2006, the Mint entered a partnership with the Vancouver Olympic Committee and became an Official Supporter of the Vancouver 2010 Winter Games. As such, the Mint embarked upon an extensive three-year program of circulation and collector coins in honour of both the Olympic and Paralympic Winter Games.

Their Vancouver 2010 coin program included the largest circulation coin series in relation to the Olympic and Paralympic Games ever conceived by any mint worldwide. It included the production of 17 circulation coins, 15 of which were of the 25¢ denomination and two of which were $1 ‘Lucky Loonies.’ The Mint was the first Mint in the world to commemorate the Paralympic Games on a circulation coin. These commemorative 25¢ coins were distributed across the country through participating Petro-Canada and Royal Bank of Canada locations.

Regarding the circulation coins, one of the novelties is that D.G. Regina (dei gratia regina, or "by the grace of God queen") will be removed from the Queen's effigy, making the 25¢ coins the first "godless circulating coins" since the 2001 International Year of the Volunteer 10¢ piece. On the 1911 issue of King George V, the inscription was accidentally left off.[45] The first circulating $1 coin will be dated 2008 but the obverse will be the standard effigy of Queen Elizabeth II by Susanna Blunt with the wording "ELIZABETH II" and "D.G. REGINA" with the Circle M privy mark.[45]

In addition to its circulation coin program, the Mint introduced a series of 36 collector coins ranging from multi-coloured sterling silver Lucky Loonies to premium gold coins. Most notably, two $2500 Kilo Gold Coins were produced as part of this program, marking the first time the Mint has issued a pure gold coin with a guaranteed weight of one kilogram.[46]

The program also included the production of two Sterling silver Lucky Loonies in 2008 and 2010, with mintages of 30,000 and 40,000 respectively.

Vancouver 2010 Winter Games medals

The Mint also produced the athlete medals for the 2010 Olympic and Paralympic Winter Games. The Vancouver 2010 gold medals are each made of sterling silver plated with six grams of 24KT gold. The silver medals are sterling silver while the bronze medals are composed mostly of copper. Their composition is governed by International Olympic Committee regulations.

Each medal features a piece of one of two contemporary Aboriginal artworks and weighing 500 to 576 grams each. The design appearing on each of the Vancouver 2010 medals is based on two large master artworks of an orca whale (Olympic) and raven (Paralympic) by Corrine Hunt, a Canadian artist of Komoyue and Tlingit heritage based in Vancouver, BC. Each medal features a unique, hand-cropped section of her artwork. The Vancouver 2010 medals are also undulating rather than flat. They had to be struck nine times each in order to achieve this unusual shape.

The medals were on display throughout the 2010 Winter Games at the Royal Canadian Mint Pavilion in Vancouver. There, visitors waited in line to see and hold the medals, sometimes for over seven hours. During the Olympics, the Mint Pavilion at the Segal Centre entertained 140,639 visitors, while the medal display at the Vancouver Public Library during the Paralympics saw 30,000 visitors. With so much interest generated by their Vancouver 2010 program, the Mint opened an additional retail outlet in Vancouver. This store is located at 752 Granville Street, between Georgia and Robson streets.

Award-winning coins

Coin markings, including mint marks and privy marks

Revenues

Revenue by segment 2004[50]

Business Line Revenue (in millions)
Canadian Circulation  63.4
Foreign Coin    25.1
Cdn. Numismatic    52.6
Bullion and Refinery  183.9

Revenue by segment 2005[51]

Business Line Revenue (in millions)
Canadian Circulation  111.2
Foreign Coin    43.8
Cdn. Numismatic    56.5
Bullion and Refinery  224.4

Revenue by segment 2006[52]

Business Line Revenue (in millions)
Canadian Circulation  131.2
Foreign Coin    25.3
Cdn. Numismatic    56.7
Bullion and Refinery  280.7

Revenue by segment 2007[53]

Business Line Revenue (in millions)
Canadian Circulation  174.3
Foreign Coin    115.0
Cdn. Numismatic    56.3
Bullion and Refinery  286.3

Revenue by segment 2008[54]

Business Line Revenue (in millions)
Canadian Circulation  186.5
Foreign Coin    98.7
Cdn. Numismatic    67.5
Bullion and Refinery  1,039.6

Revenue by segment 2009[55]

Business Line Revenue (in millions)
Canadian Circulation  185.3
Foreign Coin    65.0
Cdn. Numismatic    72.3
Bullion and Refinery  1,700.0

Revenue by segment 2010[56]

Business Line Revenue (in millions)
Canadian Circulation  133.1
Foreign Coin    39.8
Cdn. Numismatic    71.3
Bullion and Refinery  1,965.4

Revenue by segment 2011[57]

Business Line Revenue (in millions)
Canadian Circulation  136.7
Foreign Coin    34.0
Cdn. Numismatic    93.0
Bullion and Refinery  2,895.7

Revenue by segment 2012[58]

Business Line Revenue (in millions)
Canadian Circulation  152.5
Foreign Coin    30.3
Cdn. Numismatic    145.1
Bullion and Refinery  2,255.4

Revenue by segment 2013[59]

Business Line Revenue (in millions)
Canadian Circulation  133.4
Foreign Coin    78.2
Cdn. Numismatic    167.0
Bullion and Refinery  2,996.5

Revenue by segment 2014[60]

Business Line Revenue (in millions)
Canadian Circulation  123.9
Foreign Coin    72.8
Cdn. Numismatic    177.3
Bullion and Refinery  2.1 (billion)

Security

Royal Canadian Mint Protective Services employs full-time and casual security officers who are responsible for the security and inspection of RCM facilities. They wear a distinctive black uniform with body armour and carry a 9 mm Glock Model 17 while on duty. These officers are required to re-qualify their CPR and firearm annually.[61] Their duties include:[62]

Recent issues concerning Royal Canadian Mint assets include:

Notable firsts

See also

References

  1. ↑ Royal Canadian Mint locations
  2. 1 2 3 4 5 Annual Report 2013
  3. ↑ Case Study: Royal Canadian Mint
  4. ↑ "Canadian coins" Check |url= value (help). Royal Canadian Mint's Official web site. Royal Canadian Mint. Retrieved 22 November 2011.
  5. 1 2 3 4 5 6 7 8 9 10 11 Haxby, James A. (1983). Striking Impressions. ISBN 0-660-91234-1.
  6. ↑ "Canada's Top 100 Employers". Mediacorp Canada Inc.
  7. ↑ "The penny's days are numbered". CBC. 2012-03-29. Retrieved 2012-03-29.
  8. ↑ "Canada's Last Penny: Final Cent Struck In Winnipeg Friday As Currency Killed". Canadian Press/Huffington Post Canada. 2012-05-04. Retrieved 2012-05-04.
  9. 1 2 Jackson, Emily (11 April 2012). "Royal Canadian Mint to create digital currency". Toronto Star. Retrieved 2012-04-11.
  10. ↑ "CurrencyCode Enumeration". Royal Canadian Mint. Retrieved April 17, 2012.
  11. ↑ "Untitled (after article on "The Verdict of the World")". Hardware. 14 Feb 1890. Retrieved 19 April 2013.
  12. ↑ Debates of the Senate of the Dominion of Canada. Queen's Printer. 1890. p. 170.
  13. 1 2 The CN Journal, The Official Publication of the Canadian Numismatic Association, Markham, Ontario, Vol. 53, No. 1, January–February 2008, p.29
  14. ↑ Royal Canadian Mint National Historic Site of Canada. Canadian Register of Historic Places. Retrieved 11 November 2013.
  15. ↑ Royal Canadian Mint 2009 Annual Report, page 27
  16. ↑ Royal Canadian Mint 2005 Annual Report, page 10
  17. ↑ http://www.mint.ca/store/mint/about-the-mint/board-members--executive-team-1400006
  18. ↑
  19. ↑
  20. ↑ "Order Amending Part 2 of the Schedule to the Royal Canadian Mint Act". Canada Gazette. Government of Canada. Retrieved 2012-01-14.
  21. ↑ "Material change in store for loonies, toonies". Montreal Gazette. Postmedia News. January 14, 2012.
  22. 1 2 Royal Canadian Mint: 100 Years of History, p.148, Published by Les Éditions Stromboli in 2008, St. Lambert, Québec, Canada, Project Co-Oridnator: Francesco Bellomo, Project Manager for Royal Canadian Mint: Susan Aubry, Legal Deposit: Library and Archives Canada, ISBN 2-921800-26-8
  23. 1 2 3 4 Royal Canadian Mint: 100 Years of History, p.149, Published by Les Éditions Stromboli in 2008, St. Lambert, Québec, Canada, Project Co-Oridnator: Francesco Bellomo, Project Manager for Royal Canadian Mint: Susan Aubry, Legal Deposit: Library and Archives Canada, ISBN 2-921800-26-8
  24. ↑ The Royal Canadian Mint has produced coins for more than 74 countries
  25. ↑
  26. ↑
  27. ↑
  28. ↑ Royal Canadian Mint 2006 Annual Report, page 25
  29. ↑ Royal Canadian Mint 2006 Annual Report, page 27
  30. ↑
  31. ↑
  32. ↑
  33. ↑ http://www.mint.ca/store/news/to2015-unveils-oneofakind-medals-a-unique-product-of-the-americas-24200044?cat=News+releases&nId=700002&nodeGroup=About+the+Mint
  34. ↑ Charlton Start Catalogue of Canadian Coins, Volume Two, Collector Issues First Edition 2010, p. 259-275
  35. 1 2 Charlton Start Catalogue of Canadian Coins, Volume Two, Collector Issues First Edition 2010, p. 281-296
  36. 1 2 Charlton Start Catalogue of Canadian Coins, Volume Two, Collector Issues First Edition 2010, p. 276-280
  37. 1 2 Charlton Standard Catalogue of Canadian Coins 2006, p.89
  38. ↑ Royal Canadian Mint 2009 Annual Report, page 10
  39. ↑ Charlton Standard Catalogue of Canadian Coins, Volume Two Collector Issue First Edition 2010, p. 183
  40. ↑ The Royal Canadian Mint Issues a 2007 Line of Collector Coins
  41. ↑ Royal Canadian Mint Annual Report 2009, p. 14
  42. ↑ http://www.geocities.com/erik_mccrea/linksGH.html
  43. ↑ Charlton Standard Catalogue of Canadian Coins, 60th Edition, 2006
  44. ↑ Royal Canadian Mint Annual Report 2008
  45. 1 2 "14 circulating coins included in 2010 Olympic program", Bret Evans, Canadian Coin News, January 23 to February 5, 2007 issue of Canadian Coin News
  46. ↑ "Olympic commems to sport $25 face", Canadian Coin News, p.1, Bret Evans, January 9 to 22, 2007
  47. 1 2 3 4 http://www.mint.ca, Path on site: The Passion, The Museum, Award Winning Coins
  48. ↑ Canadian Coin News, http://www.canadiancoinnews.ca/previous/jun13_06.html
  49. ↑ Coin World, Vol. 47, Issue 2417, Page 74, August 7, 2006
  50. ↑ Royal Canadian Mint Annual Report "Appreciating Value" 2004, page 4
  51. ↑ Royal Canadian Mint Annual Report "Thriving" 2005, page 4
  52. ↑ Royal Canadian Mint Annual Report "External Forces, Internal Strength" 2006, page 4
  53. ↑ Royal Canadian Mint Annual Report "In Anticipation of Profit" 2007, page 4
  54. ↑ Royal Canadian Mint Annual Report "Making History" 2008, page 4
  55. ↑ Royal Canadian Mint Annual Report "World Class Performance" 2009, page 4
  56. ↑ Royal Canadian Mint Annual Report "We Are Here" 2010, page 2
  57. ↑ Royal Canadian Mint Annual Report "From Main Street To Bay Street and Beyond" 2011, page 2
  58. ↑ Royal Canadian Mint Annual Report "Breaking Traditions" 2012, page 30
  59. ↑ Royal Canadian Mint Annual Report "Global Leadership" 2013, page 26
  60. ↑ Royal Canadian Mint Annual Report "Tomorrow's Mint" 2014, page 6
  61. ↑ Royal Canadian Mint Collective Agreement 2008-2010
  62. ↑ Assessment of Royal Canadian Mint Security: With Respect to the Un-Reconciled Differences of Precious Metals Reported by the MINT
  63. ↑ http://www.canada.com/Business/Mint+account+missing+gold/1656084/story.html
  64. ↑ http://www.mint.ca/store/news/gold-fully-accounted-for-at-royal-canadian-mint-7500002?cat=News+releases&nId=700002&parentnId=600004&nodeGroup=About+the+Mint
  65. ↑ Charlton Standard of Canadian Coins, p.440
  66. ↑ Charlton Standard of Canadian Coins, p.441
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