Royal Canadian Mint: Difference between revisions
No edit summary |
|||
| Line 32: | Line 32: | ||
The major change to Canadian coinage in the 1980s was the introduction of a circulating 1 dollar coin, widely known as the [[Loonie]] because of the [[common loon]] gracing its reverse. (A Voyageur canoe had been planned initially, but the master dies were lost in shipment between Ottawa and Winnipeg, so a new design was necessary.) This coin was introduced in [[1987]] and almost immediately met with poor favour by Canadians. It did not become widely accepted until the 1 dollar [[banknote]] was withdrawn from circulation, which began in February 1989. Thereafter, the coin became widely, if reluctantly, accepted. In [[1996]], a 2 dollar circulating coin (known widely as the [[Toonie]]) was introduced, featuring a polar bear on the reverse, and the 2 dollar banknote withdrawn. It too was met with reluctant acceptance by the vast majority of Canadians. The 2 dollar coin was also a first for the mint in that it used a bi-metallic structure—the centre of the coin is [[bronze]]-coloured and the circumference is nickel-coloured. |
The major change to Canadian coinage in the 1980s was the introduction of a circulating 1 dollar coin, widely known as the [[Loonie]] because of the [[common loon]] gracing its reverse. (A Voyageur canoe had been planned initially, but the master dies were lost in shipment between Ottawa and Winnipeg, so a new design was necessary.) This coin was introduced in [[1987]] and almost immediately met with poor favour by Canadians. It did not become widely accepted until the 1 dollar [[banknote]] was withdrawn from circulation, which began in February 1989. Thereafter, the coin became widely, if reluctantly, accepted. In [[1996]], a 2 dollar circulating coin (known widely as the [[Toonie]]) was introduced, featuring a polar bear on the reverse, and the 2 dollar banknote withdrawn. It too was met with reluctant acceptance by the vast majority of Canadians. The 2 dollar coin was also a first for the mint in that it used a bi-metallic structure—the centre of the coin is [[bronze]]-coloured and the circumference is nickel-coloured. |
||
==Master of the Mint== |
|||
Traditionally, the President of the Royal Canadian Mint is affectionately known as the Master of the Mint. A listing of all the Masters of the Mint is as follows: |
|||
James Binar 1908-1919 |
|||
AHW Cleave 1919-1925 |
|||
JH Campbell 1925-1937 |
|||
HE Ewart 1938-1944 |
|||
AP Williams 1946-1947 (acting) |
|||
WC Ronson 1947-1953 |
|||
NA Parker 1959-1968 |
|||
EF Brown 1968-1970 (acting) |
|||
GW Hunter 1970-1975 |
|||
Y Gariepy 1975-1981 |
|||
DM Cudahy 1981-1982 (acting) |
|||
J Corkery 1982-1986 |
|||
MAJ Lafontaine 1986-1993 |
|||
MR Hubbard 1993-1994 |
|||
Danielle Wetherup 1994-2002 |
|||
Emmanuel Triassi 2002-2003 (acting) |
|||
David C Dingwall 2003-2005 |
|||
Marguerite Nadeau 2005-2006 |
|||
Ian E. Bennett 2006-present |
|||
==See also== |
==See also== |
||
Revision as of 19:48, 20 July 2006
The Royal Canadian Mint produces all of Canada's circulation coins, and manufactures circulation coins on behalf of other nations. The Mint designs and manufactures: collector coins; gold, silver and platinum bullion coins; customized medals, tokens and trade dollars; and watches and jewellery featuring coin designs. It also offers gold and silver refinery and assay services.
The President and Master of the Mint is the senior executive officer of the organization, reporting to a Board of Directors appointed by the Minister of Public Works and Government Services. The Mint operates under the legislative basis of the Royal Canadian Mint Act.
The Mint has been at the forefront of currency innovation. Among the Mint's technical innovations was the world's first coloured circulation coin, the 2004 Remembrance Day 25 cent piece, with a red poppy on the reverse.
Many foreign countries have had coinage struck at the Royal Canadian Mint.
History
The Ottawa branch of the Royal Mint was formed in 1908. Prior to that, Canada's currency was produced in Great Britain at the Royal Mint and the Heaton Mint. In Ottawa the castellated Gothic style home for the mint was built from 1905 to 1908. The castle-like structure is one of the most unique buildings in Ottawa.
After the Ottawa branch opened, Canada could create its own coinage and create coinage for many other nations and territories including Newfoundland. The first coin to be produced at the new facility was the 50 cent coin on January 2, 1908. The other denominations minted were the 1, 5, 10 and 25 cent coins, and the gold sovereign. From 1912 to 1914, gold 5 and 10 dollar coins were also struck. A pattern coin was struck in 1911 for a silver dollar, but this denomination did not enter circulation at that time.
During the years following its opening, the Mint offered collector coin sets. Most of the sets issued prior to the 1950s are worth thousands of dollars. During the 1920s, there was a large surplus of circulating currency; virtually no silver coinage was struck from 1921 to 1928. 1921 also marked the change from the silver 5 cent coin to the familiar nickel, which had the same size and composition as the American coin that had been introduced in 1866.
In 1931, the Royal Mint was made a Canadian government corporation and renamed the Royal Canadian Mint. As it was now Canadian owned, the mint was no longer allowed to produce gold sovereign coins, although none had in fact been struck in Ottawa since 1919. In 1935, a silver dollar coin was introduced with a Voyageur canoe on the reverse. The accession of King George VI in 1937 marked a complete redesign of the coin reverses to the well-known current circulating designs—a maple twig on the 1 cent coin, a beaver on the 5 cent coin, a schooner on the 10 cent coin, a caribou on the 25 cent coin, and a coat of arms on the 50 cent coin. The dollar's reverse was not changed.
World War 2 saw low mintages of most coins, as the metals (especially copper and nickel) were needed for the war effort. The reverse of the 5 cent coin was changed to a V for Victory in 1942, and its composition was changed to tombac; the composition was changed again to nickel-chromium-plated steel in 1944. The regular reverse and composition were resumed in 1946. Chromium-plated steel was again used for the 5 cent coin from 1950 to 1953 during the Korean War, but the reverse was unchanged.
In 1967, the Mint introduced a series of commemorative coins in honour of the Canadian centennial. Every coin produced that year, excepting the exotic rock dove or pigeon, featured a creature that is native to Canada—a rock dove on the 1 cent coin, a rabbit on the 5 cent coin, a mackerel on the 10 cent coin, a bobcat on the 25 cent coin, a howling wolf on the 50 cent coin, and a Canada goose on the dollar. A commemorative gold 20 dollar coin was also struck for collectors' sets, with a coat of arms on the reverse. The Royal Canadian Mint has continued to be at the forefront of placing commemorative coin designs in circulation. In 1973, the usual 25 cent coin reverse was replaced with a Royal Canadian Mounted Police officer astride a horse, to celebrate the centennial of the North West Mounted Police. This practice became more popular in the 1990s and the 2000s, with numerous circulating commemorative 1 dollar and 25 cent coins, a commemorative 10 cent coin in 2001 and a commemorative 60th anniversary Victory nickel in 2005. Criticism has arisen, however, that the Mint has issued so many recent commemoratives that Canadians are oversaturated with, and blasé about, them. The Poppy commemorative of 2004, although innovative in its use of coloring, was also criticized because the colour wore off too quickly.
Due to the rising price of silver, the fineness of silver coins was reduced from 80% to 50% in 1967, and silver was eliminated entirely from circulating coins in 1968. The formerly silver coins began to be struck in pure nickel. The diameters of the 50 cent and 1 dollar coins were reduced at this time to lengthen die life, since nickel is a much harder metal than silver. Starting in 1999, the rising cost of nickel led the Mint to strike all circulation coins from nickel-plated steel (copper-plated for the 1 cent).
In 1971, the Mint began a series of commemorative silver dollars, issued for collectors, that continues to this day; each year, a new reverse design is featured. A slew of other collectible coin series has since followed, most notably the gold 200 dollar coins. In 1976, the Winnipeg branch of the Royal Canadian Mint opened, allowing Ottawa to concentrate solely on collector coins while the Winnipeg mint would produce the entire supply of circulation coins.
In 1979, the Mint began issuing gold bullion coins known as Maple Leaf coins, because of the reverse design. Gold Maple Leafs have been struck in 1, 1/2, 1/4, 1/10 and 1/20 troy ounce weights. In 1988, platinum Maple Leaf coins were introduced in the same weights as the gold versions, and in 1989, a 1 troy ounce silver bullion Maple Leaf coin was introduced.
The major change to Canadian coinage in the 1980s was the introduction of a circulating 1 dollar coin, widely known as the Loonie because of the common loon gracing its reverse. (A Voyageur canoe had been planned initially, but the master dies were lost in shipment between Ottawa and Winnipeg, so a new design was necessary.) This coin was introduced in 1987 and almost immediately met with poor favour by Canadians. It did not become widely accepted until the 1 dollar banknote was withdrawn from circulation, which began in February 1989. Thereafter, the coin became widely, if reluctantly, accepted. In 1996, a 2 dollar circulating coin (known widely as the Toonie) was introduced, featuring a polar bear on the reverse, and the 2 dollar banknote withdrawn. It too was met with reluctant acceptance by the vast majority of Canadians. The 2 dollar coin was also a first for the mint in that it used a bi-metallic structure—the centre of the coin is bronze-coloured and the circumference is nickel-coloured.
Master of the Mint
Traditionally, the President of the Royal Canadian Mint is affectionately known as the Master of the Mint. A listing of all the Masters of the Mint is as follows:
James Binar 1908-1919
AHW Cleave 1919-1925
JH Campbell 1925-1937
HE Ewart 1938-1944
AP Williams 1946-1947 (acting)
WC Ronson 1947-1953
NA Parker 1959-1968
EF Brown 1968-1970 (acting)
GW Hunter 1970-1975
Y Gariepy 1975-1981
DM Cudahy 1981-1982 (acting)
J Corkery 1982-1986
MAJ Lafontaine 1986-1993
MR Hubbard 1993-1994
Danielle Wetherup 1994-2002
Emmanuel Triassi 2002-2003 (acting)
David C Dingwall 2003-2005
Marguerite Nadeau 2005-2006
Ian E. Bennett 2006-present