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The Royal Canadian Mint (RCM, French: Monnaie royale canadienne) produces all of Canada's circulation coins, and manufactures circulation coins on behalf of other nations. The mint also designs and manufactures: collector coins; gold, silver, palladium, and platinum (1989–1999) bullion coins; customized medals, tokens, trade dollar watches, and, for a brief time, high end jewellery featuring coin designs. It further offers gold and silver refinery and assay services.
The RCM is a Crown corporation that operates under the legislative basis of the Royal Canadian Mint Act. All monies in Canada are technically issued with the authority of the Canadian monarch; however, all operations are overseen by the President and CEO, or Master of the Mint, who is the senior executive officer of the organization, reporting to a Board of Directors appointed by the Minister of Public Works and Government Services.
The mint has been at the forefront of currency innovation. Among the mint's technical innovations have included its plating process, which consists of a multi-ply technology that allows electromagnetic signatures to be embedded in the coins, assuring readability in the coin-processing industries.[2] Another innovation was the world's first coloured circulation coin, the 2004 Remembrance Day 25¢ piece, with a red poppy on the reverse. Further innovation was achieved with the adaptation of the physical vapour deposition (PVD) technology to coat its dies, extending the life of the die beyond that of past chrome-coated dies.[3]
In 2007, the Royal Canadian Mint was named one of Canada's Top 100 Employers, as published in Maclean's magazine, one of only a handful of Crown corporations to receive this honour.[4]
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 not struck in Canada. For the most part, they were struck at the Royal Mint in London, though some were struck at the private Heaton mint in Birmingham, England. With greater coinage needs, as well as Canada's emerging status as a nation in its own right, a need was seen for coinage to be struck within Canada. A branch of the Royal Mint was authorized to be built in Ottawa.
Established as the Ottawa branch of the Royal Mint, Governor General Lord Grey and Lady Grey activated the presses for the Canadian Mint on January 2, 1908. When the facility first opened, it had 61 employees.[5] Three years later, the refinery opened, and in 1915 the mint chlorine method of gold refining was introduced. In its first years, both Canadian gold coins and British sovereigns were struck, but the disuse of gold as a coinage metal meant it was not until 1967 that gold coins were again struck.
The Ottawa facility on Sussex Drive passed from British into Canadian control in 1931, reporting to the Department of Finance. The mint struck medals for military and volunteer war service between 1945 and 1947 and began producing commemorative and collector coins during Canada's centennial in 1967.
In 1969 the Government of Canada reorganized the Royal Canadian Mint as a Crown corporation. In 2006, the Royal Canadian Mint's new silver refinery was commissioned.[6] Customers bringing their gold to Ottawa for refining now have the opportunity to have the silver refined too.
The last surviving member of the RCM’s original staff was Owen Toller.[5] He started in the RCM as a Junior Clerk and retired as an Administrative Officer. He retired after 45 years of service on January 6, 1953.[5] At the age of 102 years, Mr. Toller died in November 1987.
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. It was recognized that there was a need to have an additional facility to produce coins. The Philadelphia Mint produced some 10¢ coins, and all numismatic coins were produced in Hull, Quebec. The facility in Ottawa served as a refinery.
In 1963 and subsequently, in 1964, the government discussed the possibility of producing a new facility, which would be functional within 2 years. Prime Minister Lester B. Pearson suggested building the facility in Elliot Lake, Ontario.[7]
Despite these discussions, nothing had yet occurred. A 1968 study indicated that the Ottawa Mint facility was truly antiquated. When the Royal Canadian Mint became a Crown Corporation in 1969, the belief was that a decision would be reached. Ironically, there was no need for a new facility because most of the workload was a carryover from the high demand of 1968.[7]
Funds had been allocated to a new facility, but no real planning had begun. Once more, the emphasis was to search for a facility in Ottawa. Initially, the first consideration was to replace the existing facility altogether. In May 1969, the idea flickered out. 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.[7] In February 1970, Supply and Services Minister James Richardson, the Minister responsible for the RCM, proposed the possibility of a new facility in Winnipeg.
This proposal was cause for debate because it was legally stipulated that the RCM 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. The belief was based on logistical philosophies. Plants that are over 1,000 miles apart would endure communication and distribution difficulties.[7] 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.[7] Eventually, it was agreed upon in December 1971 that the RCM would build a facility in Winnipeg. The land was purchased in 1972 and construction began at the end of the year.
Upon completion, it was very clear that this new facility was completely different from the facility in Ottawa. Architect Etienne Gaboury designed a striking sight with its triangular form soaring above the flat prairie. (Note: E. Gaboury was Design Architect; Number Ten Architectural Group was Project Architect.) The RCM facility in Winnipeg started to manufacture coins, and the facility was officially opened in 1976. The Winnipeg branch of the Royal Canadian Mint allowed Ottawa to concentrate solely on collector coins while the Winnipeg mint would produce the entire supply of circulation coins.
The Winnipeg facility is open to the public for guided tours each weekday from 9AM to 5PM. During the summer (Victoria Day to Labour Day) they are also open on weekends. Reservations are recommended, especially for large groups. Tour prices range depending on age, group and day of week (weekends are cheaper because coins are not struck then). A number of the mint's products are also available for sale.
Many foreign countries have had coinage struck at the Royal Canadian Mint, including circulation coins, numismatic coins, and ready-to-strike blanks. The customers have included governments, central banks, and treasuries. In 2005 alone, the RCM manufactured 1.062 billion coins and blanks for 14 countries.[8] From 1980 to 2005, the RCM has manufactured approximately 52 billion coins for 62 countries.[9] These coins are manufactured at the Royal Canadian Mint's facility in Winnipeg.
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.[10]
The Royal Canadian Mint has produced coinage for over 74 countries: 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.
Traditionally, the President 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 Max C. Lewis (also appointed in 2006). The Chief Engraver is Cosme Saffioti, who follows Ago Aarand, Walter Ott, Patrick Brindley, Myron Cook, and Thomas Shingles.
The government department responsible for the Royal Canadian Mint is the Department of Transport, Infrastructure, and Communities, led by the Honourable Lawrence Cannon. There are 10 members that comprise the Board of Directors, and 13 members that comprise the Executive Team.[12] The Royal Canadian Mint's business lines are structured into four divisions: Bullion products and refinery, Canadian Circulation Coins, Foreign Circulation, and Numismatics.[13]
A listing of all the Masters of the Mint is as follows:
Revenue by segment
In 2006, the RCM generated revenue of $493.9 million and earned net income of $11.2 million. It had also delivered $93.1 million in seignorage to its shareholder – the Crown in right of Canada.[14]
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.[15] 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.[15] 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.
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.[7]
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).
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 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.
In 1999 the mint developed a new multi-ply plating process, and began producing circulation coins using the new process in 2001. As of 2001, all circulation coins (excluding the 1¢ piece) have a mint mark with a P on the obverse of the coin. The plating process is acid based and electroplates a thin coating of nickel, then copper, then nickel again on to a steel core.[16]
In the late 1990s the mint held a contest, soliciting designs for a set of commemorative 25¢ pieces. Twenty-four winners were selected. Twelve coins were issued in 1999 and again twelve in 2000. All winners had their initials appear somewhere on the coin.[17]
The coins for 1999 represented Canadian achievements and milestones, while the coins released in 2000 featured Canadians' vision of their culture and their hopes for the future. Demand for issues was high.[citation needed]
The mint issued more commemorative circulating coins since 2000, including a commemorative 10¢ coin in 2001 and a commemorative 60th anniversary Victory nickel in 2005.
In 2004, the Royal Canadian Mint made numismatic history by issuing the world's first coloured circulation coin. The coins were produced at the Royal Canadian Mint's Winnipeg plant. The technology involved the utilization of a high-speed, computer-controlled and precision inkjet process. Approximately 30,000,000 coins went into circulation in October 2004, with Tim Hortons doughnut chain assisting with the distribution.
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.[18]
In 2006, a partnership was reached with the Vancouver Olympic Committee, in which the RCM will produce commemoratives for the event. The non-circulating, legal-tender commemorative coins will have a face value of $25, a Canadian first.[19]
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.[20] 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.[20]
In conjunction with Petro-Canada and the Royal Bank of Canada, commemorative Olympic 25¢ coins will be distributed from 2007 to 2009. The first and second coins for general circulation featured a curling and ice hockey motif. The third coin was made to commemorate the 2010 Winter Paralympics. The reverse featured wheelchair curling.
On May 3, 2007, the Royal Canadian Mint unveiled a Gold Maple Leaf coin by artist Stanley Witten, with a face value of $1 million Canadian dollar. The weight of the coin is 100 kilograms, and measures 50 cm in diameter by 3 cm thick. The coin is mainly a promotional product to give the RCM a higher international profile. The 100-kilogram coin was conceived as a showpiece to promote the RCM's new line of 99.999 per cent pure, one-ounce gold maple leaf bullion coins. The coin is made only to order and so far five have been produced as of September 2007.
It is not 'struck' like a conventional coin, but is instead cast then machined to the right size and shape. The coin drew many comparisons with an oversized coin from Austria, a €100,000 gold coin, worth about C$153,000. The Austrian coin is 37 centimetres across and weighs 31 kilograms.[27]
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