Canada 150 buzz pushes Royal Canadian Mint to profitable quarter

The Royal Canadian Mint produced more than 96 million Canadian coins and shipped 269.7 million foreign coins and blanks en route to a profitable quarter, according to financial results released by the corporation Wednesday.

Consolidated profit before and after income taxes were $14.9 million and $11.1 million, respectively, while Numismatics revenues increased $7.1 million to $46.9 million (2016 – $39.8 million) in the quarter on the strength of Canada 150 product sales.

“With a wide range of appealing collector products including entry level-priced coins, the Mint’s Numismatics business is benefiting from the early success of our Canada 150 program in the first quarter of 2017,” Sandra L. Hanington, president and CEO of the Royal Canadian Mint, said in a release that accompanied the results. “While demand in the bullion market has slowed, the Mint’s diversified model continues to drive overall profitability.”

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