According to the Royal Canadian Mint’s second-quarter report, the supply for Canadian circulation coins decreased 65 per cent and 38 per cent, respectively, for the 13 and 26 weeks ended June 27 (compared to the same periods in 2019).
The total circulation coin supply for the previous 26 weeks (ended June 27) is 922 million compared to 1.49 billion in the same period in 2019.
“Sales of new coins to financial institutions were lower compared to the same periods last year as more financial institution inventory was available to meet the demand from the decrease in coin usage in 2020 due to COVID-19,” reads the Mint’s second-quarter report, which can be read in full at bit.ly/2YPLtw9.
“Coin production began to increase toward the end of the second quarter in response to the decrease in financial institution deposits and growing demand for circulation coins as COVID-19 pandemic restrictions begin to ease and businesses re-open.”
The Crown corporation produces all of Canada’s circulation coins – more than a billion each year – at its Winnipeg plant.