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 Replies: 25 / Views: 4,579 |
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Pillar of the Community
Canada
650 Posts |
My question is the mint any more or less profitable now than say 20 years ago.
I did a little loose number crunching just for fun, these numbers are not scientific because it is rather daunting to go through but I counted some 110 products from the mint without bullion coins or circulating and I am sure I missed some in 2009. I think you could buy 3 sets in 1989 and pretty much have it covered.
I picked on dollars and came up with 380,000 in 1989 not sure if mintage includes sets if it does not, than add 120000 or so. There were maybe 4 pcs.
In 2009, by contrast there are around 300,000 dollars in total minted, but there are at least 20 1 $ coins in 2009.
The mint numbers are disturbing in that there has to be much higher cost for these small mintage's can it be sustainable?
Have they killed the golden goose?
Any one know if they , the mint, is doing better now than 20 years ago.
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Valued Member
Canada
250 Posts |
Hmmm, I have read somewhere recently (within a couple months) that the RCM actually IS profitable again. Thanks in large part to their commemorative coins. I'll try to find and link the article. |
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Valued Member
Canada
250 Posts |
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Valued Member
Canada
250 Posts |
It's my understanding that they do in fact lose money printing Canadian currency for circulation, however they do make money printing coinage for other countries as well as selling their commemorative coins.
Cheers
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Valued Member
Canada
276 Posts |
It's a crown corp, so being profitable isn't it's goal - it's just a good thing when it is.
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Valued Member
United States
380 Posts |
Quote:
...it's just a good thing when it is. Says who? This profitability question is a direct line to why we have junk coinage today. (I am not saying its all junk) Clad this and Zinc that... it has ALWAYS been about profitability or we would still have REAL (silver/gold) money in all of North America. (rodime... please do not take as an attack... just venting a bit) |
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Pillar of the Community
United States
2408 Posts |
From a collector's perspective, I think the current flow of releases is unsustainable. I've said this in the past, there is just too many NCLT produced. The RCM tries to increase sales by introducing more exotic materials / designs. Admittedly, this has worked well up to now. I know there is demand and therefore lies a market for NCLT and there is nothing wrong with that. If the RCM is profitable doing so then I'm OK with it too. In the end, nobody is forced to buy. But they may eventually run out of buyers. |
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Valued Member
Canada
276 Posts |
@Remmy: I suppose. But on the other hand, if we still had gold coinage (and the rest of teh world didn't) our money wouldn't stick around for very long. Or, we'd have money that was "worth" $0.25, including the gold content ...
Anyways, profitability is good in a crown corp, when that profit comes from people who have money to spend. Basically a head-tax for the rich.
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New Member
Canada
34 Posts |
I'm pretty sure the RCM was never in the red and is still the only Crown corporation that is profitable. |
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Pillar of the Community
Germany
992 Posts |
Quote:From a collector's perspective, I think the current flow of releases is unsustainable. I've said this in the past, there is just too many NCLT produced. The RCM tries to increase sales by introducing more exotic materials / designs. Admittedly, this has worked well up to now. I know there is demand and therefore lies a market for NCLT and there is nothing wrong with that. If the RCM is profitable doing so then I'm OK with it too. In the end, nobody is forced to buy. But they may eventually run out of buyers. I completely agree with those statement, especially that the Mint is producing way too many NCLT. Edited by redlock
10/12/2010 05:07 am
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Pillar of the Community
United States
2408 Posts |
Actually kyrio, the Mint was going down crashing back in 2000. The Mint had red ink in 2001, 2002 and 2003. Reorganizations took place during 2003 when Dingwall was brought on board. The Mint returned to profitability in 2004, largely due to their numismatic coins.
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Pillar of the Community
Germany
992 Posts |
Quote:
The Mint returned to profitability in 2004, largely due to their numismatic coins. Which is, of course, the reason why they make so many of them... |
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Pillar of the Community
 Canada
650 Posts |
To add to the question and further speculation when they produce regular circulation coins and they mint some 20 million loons and 250 million quarters in an average year plus other denominations and assume they are replacing coins lost where does the difference between the face value and the cost go?
If having people collect commemoratives and take them out of circulation if it wasn't profitable I doubt they would do it.
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New Member
Canada
34 Posts |
Meaning that the RCM was in the red for a couple of years over the entirety of it's existence and is still the only Crown corporation making profit. |
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Pillar of the Community
United States
2408 Posts |
Quote:
...the only Crown corporation making profit Somebody has to finance the Senate... |
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Pillar of the Community
Canada
1248 Posts |
redlock...
kannst du einen weg finden um mir eine nachricht zu schicken?
sieh ma meine webseite wenns nicht anders geht..
H
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Replies: 25 / Views: 4,579 |
Posted 10/11/2010 11:43 am
