Royal Canadian Mint Revenue Surges in Second Quarter | Silver Coins

Royal Canadian Mint Revenue Surges in Second Quarter

RCM ResultsThe Royal Canadian Mint reported a surge in revenue and profitability for the second quarter of 2013. Revenue increased by 93.8% to $ 1.05 billion, even though profit elevated 93.% to 11. million. This represented the initial time in the Mint’s history that quarterly income exceeded $ 1 billion.

The strong benefits have been driven by a sharp improve in bullion demand, the accelerated fulfillment of a main foreign circulating coin contract, and continued powerful demand for numismatic merchandise.

Throughout the quarter, the Bullion, ETR, and Refinery organization line generated revenue of $ 963.1 million, far more than doubling the income from the year ago period. The volume of Gold Maple Leaf sales rose 144% to 403,000 ounces. Sales of Silver Maple Leaf coins rose by 60% to 6.four million ounces.

The larger sales were driven by the decline in the industry prices of the metals, which served to stimulate demand from institutional and retail investors. From a high of $ 1,693.75 in the 1st quarter, gold fell to a low of $ 1,192 in the second quarter. The price of silver had declined from a higher of $ 32.23 in the first quarter to a low of $ 18.61 in the second quarter.

For the 26 weeks ended June 29, 2013, Gold Maple Leaf sales have reached 664,000 ounces, even though Silver Maple Leaf sales have reached 12.1 million ounces.

Royal Canadian Mint Income by Company Line (in millions)

Q2 2013Q2 2012Alter
Canadian Circulation33.four32.6two.5%
Foreign Circulation13.5.8124.1%
Numismatics40.731.429.6%
Bullion, ETR and Refinery963.1472.1104.%
Total1,050.2541.993.8%

The Royal Canadian Mint made and shipped 499.8 million coins and blanks to ten foreign countries throughout the second quarter. This was up considerably from the 135.1 million units shipped in the year ago period and drove a revenue enhance of 124.1%. Despite a surplus in international mining capacity and a competitive marketplace, the Mint has managed to win significant contracts with both current and new clientele.

The numismatic segment continued to provide robust final results, with income of $ 40.7 million, representing an increase of 29.6% from the year ago period. For the duration of the quarter, the Mint released 51 new numismatic goods and saw 13 sell outs. The most popular coins have been these using new technologies and unique features such as ultra higher relief, niobium, and glow in the dark application.

The Mint released its very first “$ one hundred for $ 100” fine silver coin during the quarter, constructing on the good results of the “$ 20 for $ 20” silver commemorative system. The new $ one hundred silver coin characteristics an image of 3 Bison and carried a mintage of one hundred,000 pieces. A sell out was accomplished within 26 days.

For the whole fiscal year, the Mint anticipates releasing 202 numismatic coins as they continue to create their buyer base in current markets and open new markets.

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