The Royal Canadian Mint saw revenue decline by 36.1% and profit fall by 44.4% during the third quarter of fiscal 2012. The declines were driven by continued weakness in demand and strong global competition in the global bullion market. This was partially offset by the exceptional performance of the numismatic segment which saw revenue increase […]
Royal Canadian Mint Revenue and Profit Fall in Second Quarter
During the 13 weeks period ending June 30, 2012, the Royal Canadian Mint saw a 19.1% decline in revenue to $541.9 million and a 24.8% decline in profit before taxes to $7.6 million. The declines were driven by continued weakness in the bullion & refinery and foreign coinage business lines, which was partially offset by […]
ECB Euro Counterfeiting Statistics Show Decline
The European Central Bank have released their statistics today on the levels of counterfeit currency entering or being detected before it enters circulation. In the first half of 2012, a total of 251,000 counterfeit EURO banknotes were withdrawn from circulation and / or reported to ECB authorities. This means that the overall quantity of counterfeit […]
Royal Canadian Mint Bullion and Refinery Revenue Declines 24% in First Quarter
The Royal Canadian Mint recently released their financial results for the first quarter. During the 13 weeks ending March 31, 2012, revenue fell by 18% to 542.7 million, although profit after taxes remained flat at $6.5 million. The decline in revenue was driven by weaker demand for bullion products. Revenue from the bullion and refinery […]
Royal Canadian Mint Revenue Reaches $3.2 Billion
The Royal Canadian Mint achieved record revenue of $3.2 billion for 2011, representing an increase of 42.9% from the prior year. The increase in revenue was driven primarily by the bullion and refinery segment, although numismatics and collectibles also put in a strong performance. Despite the higher revenue, total profit before income tax declined by […]
GAO Provides Updated Analysis on Replacing $1 Bills with $1 Coins
In March 2011, the Government Accountability Office (GAO) had issued a report indicating that replacing $1 bills with $1 coins would provide a financial net benefit to the government of $5.5 billion over 30 years. This month, the GAO has issued a new report revising their estimated benefit to $4.4 billion over 30 years. They […]
US Mint FY 2011 Numismatic Program Revenue and Profits Surge
The United States Mint reported a jump in numismatic program revenue for the fiscal year ending September 30, 2011, driven by the sales of both 2010 and 2011-dated numismatic American Gold and Silver Eagles. Overall revenue rose by 74.70% to a record $721.7 million, while net income and seigniorage jumped by 127.31% to $113.2 million. […]
US Mint Bullion Product Revenue Reaches Record $3.47 Billion in FY2011
The United States Mint achieved record bullion program revenue of $3.47 billion for the fiscal year ending September 30, 2011, representing an increase of 21.57% compared to the prior year. The results were driven by a sharp increase in revenue generated from silver bullion coins, which offset a decline in revenue from gold bullion coins. […]
US Mint Circulating Coin Shipments Rise 37%, Unit Cost of $1 Coin Drops to 18 Cents
For the fiscal year ending September 30, 2011, the unit volume of United States Mint shipments of circulating coins to Federal Reserve Banks increased by 37%. The seigniorage generated from the shipments increased by 15.96% to $348.8 million. The reported unit costs for producing and manufacturing each denomination changed significantly following a change in accounting […]
Cost to Make Penny and Nickel Rises, Annual Loss Reaches $116.7 Million
The cost for the United States Mint to produce and distribute the cent and nickel rose to their highest levels, and are now more than double the respective face values. For the fiscal year ending September 30, 2011, the unit cost for the cent was 2.41 cents and the cost for the nickel was 11.18 […]
