RCM Q2 report shows ‘strong results’

The Royal Canadian Mint has released its second quarter (Q2) financial report.

Across the four main business lines, Canadian circulation revenue and demand increased by 14 per cent and 17 per cent, respectively; foreign circulation revenue and volume decreased by 11 per cent and 23 per cent, respectively; bullion revenue and production decreased by 14 per cent and 18 per cent, respectively; and numismatic revenue increased by 29 per cent.

“The Mint continues to demonstrate resilience and stability by generating strong results in the midst of challenging market conditions,” said Mint Master Marie Lemay, whose five-year term will end in 2024. “The outstanding response to our new Opulence Collection has introduced the Mint to a new category of customers. We will continue to meet customer needs across all our businesses as we strive to reach new audiences and seize new opportunities.”

Mint media relations manager Alex Reeves sorts coins at this July’s Royal Canadian Numismatic Association Convention in Ottawa.

The increase in numismatic revenue was “largely attributable to sales related to the Mint’s new Opulence coin collection, as well as higher sales of international resale coins and premium bullion products,” according to the Q2 report.

To read the full report, visit bit.ly/3eJA3oz.

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