The Royal Canadian Mint recorded revenue of $2.6 billion and pre-tax profits of $40.7 million for 2012. Both figures represented declines from the prior year, when revenue was $3.2 billion and pre-tax profits were $43.8 million. The highlight for 2012 was the numismatic segment which saw revenue surge by 56% to a record $145.1 million.
Ian E. Bennett, President and CEO of the Royal Canadian Mint, said, “In 2012, our ongoing efforts to innovate and diversify contributed to the Mint’s success with highest-ever numismatic sales and the launch of new products, such as our new Canadian Silver Reserves Exchange Traded Receipt. Our employees continue to surpass customer expectations while we remain at the forefront of new technologies and vision to be the best Mint in the world.”
2012 Royal Canadian Mint Revenue By Segment
|Numismatic and Collectibles||93.0||145.1||56.02%|
|Bullion and Refinery||2,895.7||2,255.4||-22.11%|
Revenue for the bullion and refinery segment declined by 22.1% compared to the prior year. Sales of the Gold Maple Leaf coins declined by 29.8% to 883,048 ounces, while Silver Maple Leaf sales declined by 21.6% to 18.1 million. In late 2011, the RCM reintroduced the Platinum Maple Leaf, which saw total sales of 34,650 ounces in 2012 compared to just 5,000 ounces in 2011. The Mint introduced five custom bullion coins during 2012 which helped support overall sales in a slower market.
The Canadian circulating coin segment saw revenue increase by 11.56% to $152.5 million. This revenue represents the amount paid to the Mint by the Department of Finance for the production and distribution of coins. It also includes amounts generated through the Alloy Recovery Program, which recovers nickel from coins minted prior to 2001. During 2012, the volume of coins collected through the recycling program increased by 24.3% to 1.274 billion pieces. Revenue generated from the program grew to $35.6 million.
The numismatic and collectibles segment saw revenue increase by a substantial 56.02% to $145.1 million, representing the highest figure in the Mint’s history. During 2012, the Mint released a record 136 new products, which achieved 60 sell outs. This compares to 110 new products and 30 sell outs during the prior year. During 2013, the Mint plans to issue more than 200 numismatic products.