‘The strategy is working,’ says Mint Master

A refined numismatic strategy unveiled by the Royal Canadian Mint amid COVID-19 has paid dividends for both the Crown corporation and the countrys federal government.

In the nearly 30 months since the pandemic began, the Mint has issued a more targeted numismatic offering, which really is tailored to our customers,Mint Master Marie Lemaysaid at this Julys Royal Canadian Numismatic Association Convention.

This refined approach that we have now is really helping us achieve revenues that we need to have a robust and engaging numismatic coin program, and the strategy is working.

According to the Mints 2022-26 corporate plan, the numismatic business line will concentrate on premium products and customers, strategically explore new opportunities and continue to celebrate Canada and produce high-value medals.Because the Mint saw strong interest from precious metal collectors last year, officials also plan to continue focusing its offerings on high-value customer segments and developing premium products to maintain a strong and profitable numismatic business.

As for circulation coins, the Mint noted in its five-year plan the countrys ongoing transition to a cash-light society.In 2020, the pandemics first year, the Mints profits generated a $20 million dividend for the federal government while supporting 1,130 jobs. 

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