Not only does the Mint produce all of Canada’s circulation coins, it also manages the national coin supply. From weekly forecasting, to production, recirculation and eventual retirement, our end-to-end oversight of inventories across the country enables us to effectively deliver a reliable and accessible payment option for all Canadians.
In any given year, the Mint is able to access and leverage coins already in circulation to meet financial institution coin demand. Typically, more than 85% of annual financial institution demand is met this way, limiting new coin production volumes to the minimum required. Other key elements of the Mint’s sustainability initiatives are our coin recycling recirculation and redistribution programs, which have reduced the average annual new coin requirements to support trade and commerce.
To further reduce our Scope 3 emissions and overall environmental footprint, the Mint completed trials to produce circulation coins from recycled steel, which reduces the need for new steel manufactured from iron ore. Following successful trials, the Mint plans to expand its use of recycled steel for both Canadian and international circulation coins.
