Every Circulation Coin Produced by the Royal Canadian Mint Saves Canadians MoneyBack to Listing
Ottawa, Ontario, February 5, 2013 - A day after the official retirement of Canada’s one-cent circulation coin, the Royal Canadian Mint confirms that every denomination being produced for Canada’s coinage system costs less than face value to manufacture. For example, the five-cent circulation coin costs 2.5 cents to produce, positively contributing to the Government of Canada’s bottom line by delivering outstanding value to Canadians. This is made possible by the Mint’s multi-ply plated steel (MPPS) technology which, unlike expensive alloys or single-layer plated coins, has minimized the need for metals such as copper and nickel, while delivering superior quality, durability and security. These same benefits have been realized by over 30 foreign countries which, by purchasing MPPS coins from the Mint over the last 12 years, have followed Canada’s lead in managing a cost-effective, high-quality coinage system.
About the Royal Canadian Mint
The Royal Canadian Mint is the Crown Corporation responsible for the minting and distribution of Canada’s circulation coins. An ISO 9001-2008 certified company, the Mint is recognized as one of the largest and most versatile mints in the world, offering a wide range of specialized, high quality coinage products and related services on an international scale. For more information on the Mint, its products and services, visit www.mint.ca
For more information, please contact:
Senior Manager, Communications
Telephone: (613) 949-5777