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Complete Guide to the Royal Canadian Mint
By GovMint:
Are you a coin collector or enthusiast wanting to know more about the Royal Canadian Mint? Then, this guide is for you as we will cover everything you need to know about the Royal Canadian Mint including its purpose, functions, and the coins it produces. Let’s get right into it.
Table of Contents
- The History of the Royal Canadian Mint
- Where Does the Royal Canadian Mint Operate?
- How Secure is the Royal Canadian Mint?
- What Is Made at the Royal Canadian Mint?
- What Coins Does the Royal Canadian Mint Produce?
- Are Canadian Coins Legal Tender in the US?
- Are Canadian Pennies Discontinued?
- Where to Buy Canadian Coins
The History of the Royal Canadian Mint
Founded in 1908, the Royal Canadian Mint makes and distributes circulation coins for Canada and other international countries. They also produce collector and bullion coins at their various branch mints.
Before 1908, Canada’s currency was minted in other countries, such as Britain and the United States. In 1850, the government of the Province of Canada passed legislation that permitted the establishment of a mint due to a shortage of circulating coins. However, the British government rejected this legislation as there was debate around whether the coinage should be in dollars and cents (similar to the United States) or if it should be consistent with the British Empire’s pounds, shillings, and pence.
In 1858, Britain’s The Royal Mint began producing some of the first Canadian coins denominated in cents, with a private mint known as Ralph Heaton & Sons producing Canadian coins when the Royal Mint became too busy. These coins were identical to the ones produced by The Royal Mint, except they had a small letter “H” mint mark. This practice continued for 50 years before Canada established its own mint.
Where Does the Royal Canadian Mint Operate?
The Royal Canadian Mint has two mint branches located in Ottawa and Winnipeg. The Ottawa branch has operated since 1908, minting coins for collectors. It also produces gold and silver bullion and other commemorative medals and medallions celebrating important events and people in Canada’s history. The Winnipeg Mint branch is responsible for minting circulation coins for Canada and circulation coins for other countries around the world. It has been designing and minting coins since 1976.
How Secure Is the Royal Canadian Mint?
Regarding coin security, the Royal Canadian Mint utilizes unique and precise design features to implement highly secure coins to prevent counterfeiting and quality. In the past, silver bullion sometimes developed white spots on the surface. While this would not affect the coin’s composition or purity, consumers were concerned about the impact it would have on their coins’ aesthetics. However, the Royal Canadian Mint has since implemented a solution known as “MINTSHIELD” to reduce and prevent these white spots in combination with its anti-counterfeiting technology.
What Is Made at the Royal Canadian Mint?
The functions of the Royal Canadian Mint include producing a variety of precious and base metal coins for collectors, including gold, silver, palladium, and platinum bullion, as well as medals, medallions, and tokens, in addition to striking coins for circulation.
Are Canadian Pennies Discontinued?
Canadian pennies were discontinued in 2012 due to the high cost of production. As a result, consumers and businesses are supposed to round their cash transactions to the nearest nickel as pennies are still being physically removed from circulation. Despite its discontinuation, the Canadian penny remains legal tender in Canada.
What Coins Does the Royal Canadian Mint Produce?
The Royal Canadian Mint designs and produces a diverse range of coins for circulation. In this section, we will explore the types of coins currently produced or still in production by the Mint, detailing a bit about their history, designs, and specifications.
Canadian 1 Cent (1908-2012)
Although the Canadian penny is no longer manufactured and distributed by the Royal Canadian Mint, it is still worth mentioning as it can still be found in circulation. First minted in 1908 and lasting until 2012, the Canadian penny has included one or two maple leaves on the reverse side. Over the years, it was made from various compositions, including copper, tin, zinc, steel, and nickel, all in varying percentages.
Canadian 5 Cent (1858-present)
The Canadian 5-cent coin was first minted in 1858. Initially made from silver, its composition has varied over the years, including silver, copper, zinc, nickel, and steel. The coin features an image of a beaver on the reverse side, a design introduced in 1937, symbolizing Canadian wildlife and industriousness. On the obverse side, it traditionally displays the reigning British monarch.
Canadian 10 Cent (1858-present)
The Canadian 10-cent coin is another coin that was introduced in 1858. Over its history, its composition has changed from a silver-copper alloy to nickel and later to a steel, copper, and nickel alloy. The coin features the iconic Bluenose schooner on the reverse side, a design introduced in 1937, celebrating Canada's maritime heritage. Like the 5-cent coin, the obverse side traditionally features the reigning British monarch.
Canadian 25 Cent (1870-present)
Featuring an iconic caribou design on its reverse side, a design that was adopted in 1937, the Canadian 25-cent coin has been in circulation since 1870. Its composition has evolved from silver to nickel and, more recently, to nickel-plated steel. Billions of 25-cent coins have been produced and distributed since its first appearance.
Canadian 50 Cent (1858-present)
The Canadian 50-cent coin, first issued in 1858, has been minted in silver to nickel and later to nickel-plated steel. Unlike other coins, its reverse side prominently features the Canadian Coat of Arms, a design introduced in 1937 that was part of an initiative to modernize Canada’s circulation coins. Although this coin is considered popular, only a few thousand are minted each year.
Canadian 1 Dollar ‘Loonie’ (1987-present)
The Canadian 1-dollar coin, commonly known as the ‘Loonie,’ was introduced in 1987 as a cost-saving replacement for the one-dollar bill, although it has been around since 1935. The reason for its nickname is due to the solitary loon design that can be found on its reverse side. This coin has been made from a variety or mix of precious metal materials, including silver, copper, nickel, bronze, steel, and brass.
Canadian 2 Dollar ‘Toonie’ (1996-2012)
The ‘Toonie’ is another Canadian 2-dollar coin introduced in 1996 to replace the 2-dollar bill. Featuring an adult polar bear on the reverse, this Canadian coin is manufactured using a bi-metallic coin-locking mechanism designed and patented by the Royal Canadian Mint. Initially, from 1996-2012, the 2-dollar coin was made with an outer ring of 99% nickel and an inner core of 92% copper, 6% aluminum, and 2% nickel. Since 2012, the coin’s composition has been updated to feature a nickel-plated steel outer ring with a brass-plated aluminum bronze inner core.
Canadian Gold Maple Leaf (1979-present)
When it was first minted in 1979, the Canadian Gold Maple Leaf coin was an instant success. With a purity of 99% gold, it surpassed its competitor, the Krugerrand, which had dominated the market since 1970 with a purity of 91.67%. Today, the Gold Maple Leaf remains highly trusted by stackers and collectors for its exceptional purity and security. It is available in denominations of 1/20, 1/10, 1/4, ½, and 1 ounce of 99.99% pure gold and is considered legal tender in Canada though it does not circulate.
Canadian Silver Maple Leaf (1988-present)
Shortly after the introduction of the Gold Maple Leaf, the Canadian Silver Maple Leaf coin was introduced in 1988. With a purity of 99.99% silver, this coin features a maple leaf on the reverse and is available in a one ounce size. And like its gold coin counterpart, the Silver Maple Leaf also comes with anti-counterfeiting features, making it a popular choice among coin enthusiasts.
Canadian Commemorative Coins
The Royal Canadian Mint is renowned for minting a wide array of commemorative coins that celebrate significant events, anniversaries, and cultural milestones. As part of their Commemorative Circulation Program, these coins are crafted with exceptional artistry and often include precious metals such as gold, silver, and platinum. Here are some examples of their notable commemorative coins:
$1 – 150th Anniversary of the Birth of L. M. Montgomery
$2 – National Indigenous Peoples Day
$2 – 1972 Summit Series
10-cent - 100th anniversary of Bluenose
$2 - 75th anniversary of the End of the Second World War
$2 - 75th anniversary of D-Day
$2 - 100th anniversary of Armistice (end of the First World War)
$1 - 100th anniversary of the Toronto Maple Leafs
$1 – 100th anniversary of Women’s Right to Vote
Award-Winning Canadian Coins
As a renowned and respected organization, the Canadian Royal Mint has a history of minting artistic and innovative coin designs that have won awards internationally.
Below, we’ve listed a few of their award-winning coins:
Black Nickel-Plated $2 Circulation Coin Honoring Queen Elizabeth II (2023)
2022 5 oz. Pure Silver Coin – Canadian Ghost Ship
2023 Fine Silver Puzzle Coin Set - The Celestial Circle
2021 $20 Fine Silver Coin - Black and Gold: The Grey Wolf
2021 Ten-Cent Coloured Commemorative Circulation Coin – 100TH Anniversary of Bluenose
2019 “R+D Lab”
2016 $20 Pure Silver Coin – Mother Earth
2014 1 oz. Pure Silver Coin – Maple Canopy: Autumn Allure
2012 25‑Cent Prehistoric Animals – Pachyrhinosaurus Lakustai
Are Canadian Coins Legal Tender in the U.S.?
Canadian Coins are not considered legal tender in the U.S., but in some places, vendors will accept them (at their discretion) or exchange them for U.S. currency. It is not uncommon to find Canadian coins in U.S. towns next to the Canadian border, but you will likely need to find a coin exchange to switch your U.S. dollars for Canadian dollars or vice versa.
Where to Buy Canadian Coins
If you are interested in purchasing Canadian coins, GovMint should be your top consideration. With over 30 years of experience in the numismatic industry, we have established a reputation for offering authentic and high-quality coins. We provide a diverse range of Canadian coins, including both collectible and gold and silver bullion.
Our inventory includes not only gold and silver bullion coins but also bars and other collectible merchandise. We are committed to ensuring coin collectors receive precisely what they are looking for. Visit GovMint today to start your Canadian coin collection.
References:
https://www.mint.ca/en/company
https://ottawatourism.ca/en/see-and-do/royal-canadian-mint
https://www.historicplaces.ca/en/rep-reg/place-lieu.aspx?id=9212
https://www.mint.ca/en/visit-the-mint/ottawa-mint
https://www.mint.ca/en/blog/2018-04-world-s-most-secure-bullion
https://www.mint.ca/en/blog/2018-03-solving-silver-bullion-white-spots
https://www.mint.ca/en/blog/2022-06-legacy-of-the-penny
https://www.mint.ca/en/discover/canadian-circulation
https://www.mint.ca/en/discover/canadian-circulation/1-cent
https://www.numismaticnews.net/world-coins/canadas-5-cent-coin-might-be-next
https://www.mint.ca/en/discover/canadian-circulation/5-cents
https://www.mint.ca/en/discover/canadian-circulation/10-cents
https://www.mint.ca/en/discover/canadian-circulation/25-cents
https://www.mint.ca/en/discover/canadian-circulation/50-cents
https://www.mint.ca/en/discover/canadian-circulation/1-dollar
https://www.mint.ca/en/discover/canadian-circulation/2-dollars
https://www.mint.ca/en/blog/2018-04-world-s-most-secure-bullion
https://www.mint.ca/en/discover/canadian-commemorative-circulation-program
https://www.mint.ca/en/discover/award-winning-coins
https://thefinancialgeek.com/blog/will-the-us-accept-canadian-coins/
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