Ottawa, Ontario, December 13, 2007 – The Royal Canadian Mint (RCM) is crediting its patented multi-ply plating technology for a record year in its foreign circulation business line. The Mint’s Winnipeg, Manitoba facility has already set a new production volume record with one month left to go in 2007, having struck almost 1.2 billion multi-ply plated circulation coins for countries from around the globe.
“In an age of rising base metal costs, there is a compelling need around the world for a coinage solution which saves money without compromising quality,” said RCM President and CEO, Mr. Ian E. Bennett. “Only the Royal Canadian Mint can offer a solution to meet this need, which has led us to become one of the most innovative in the world.”
Among the countries which have recently adopted the Royal Canadian Mint’s multi-ply plating are Papua New Guinea, New Zealand, Ghana, Oman, Paraguay, Barbados and the Bahamas. As well, RCM multi-ply plating is generating strong interest among other countries in the Caribbean region.
RCM Multi-ply plating is a unique electroplating process which deposits thin, alternating layers of nickel and copper over a steel core, or “blank”, to produce the best quality, most economical nickel and copper based coins circulation coins available. RCM Multi-ply plated circulation coins are proudly produced by the skilled technicians of the Mint’s Winnipeg facility, where all circulation coins, for Canada and countries from around the globe are produced.
There are many advantages to using the Mint’s superior multi-ply plating technology, for coins and for blanks supplied to coin manufacturers, including:
- Substantial savings in time and materials: multi-ply plating uses less nickel, copper or bronze than other minting techniques, and is dramatically faster than single-ply plating;
- Superior performance: nickel plate resists tarnishing better than cupronickel and ferritic stainless steel; and
- Heightened security: varying the thickness of each copper and nickel layer to custom specifications gives multi-ply plated coins a unique electromagnetic signature, which ensures security and prevents vending machine fraud
“The international contracts we have won so far this year are a ringing endorsement of our multi-ply plating technology and support the case for the continued growth of the Royal Canadian Mint,” added Ian E. Bennett. “We are proud to be Canada’s Mint and delighted that, thanks to unique abilities such as multi-ply plating, we have become a mint to the world”.
In 2006, the Royal Canadian Mint also licensed its multi-ply plating technology to long-time partner Jarden Zinc Products Incorporated of Greeneville, Tennessee, USA. This leading metal products supplier manufactures multi-ply plated coin blanks for customers world-wide and helps the RCM meet increasing demand for its circulation coins.
The RCM competes against other Mints for international contracts and has produced coins and coin blanks for over 60 countries in the last 25 years.
About the RCM
The Royal Canadian Mint, an ISO 9001-2000 certified company, is the Crown Corporation responsible for the minting and distribution of Canada’s circulation coins. In operation since 1908, the Royal Canadian Mint is recognized as one of the largest and most versatile mints in the world, offering a wide range of specialized, high quality coinage products and related services on an international scale. For more information on the Royal Canadian Mint, its products and services, visit www.mint.ca.