RCM, also known as the Royal Canadian Mint, has existed since 1908 and is known for producing all monetary coins for Canada and more recently other foreign nations as well. While many believe that RCM’s expertise is limited to solely gold and silver coins, the reality is that in addition to silver and gold they produce palladium and platinum coins too.
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With a name like the “Royal Canadian Mint”, many believe that this Canadian company is funded by taxpayer money but in reality it operates like any other business does. The presence of a Board of Directors means that RCM is a corporation and not some entity of the Canadian government. In fact, it is one of the most renowned companies in all of Canada and is reputed to be an upper tier employer year after year.
Facilities & History
RCM operates out of two main facilities, one in Ottawa and another in Winnipeg. While these two main facilities are the lifeblood of RCM, they didn’t always exist. Prior to the 1900s all Canadian coins were actually minted at the Royal Mint in the UK.
In 1901 however, the Royal Mint of England decided to build a facility in Ottawa that was completed 7 years later. In 1931 the RCM gained its freedom of dependency on the Royal Mint of England after thorough business negotiations.
By the time the year 1960 came, RCM had outgrown their Ottawa facility and were looking to expand. Unfortunately the expansion process took a large amount of time and it was not until 1976 that RCM’s WInnipeg facility actually opened.
In addition to simply producing coins, the RCM serves to provide Canada’s Finance Minister with all relevant advice on Canada’s coins and coin production.The two facilities combined produce in upwards of 2 billion coins in each calendar year with different styles and designs coming out annually. RCM is such an expansive mint that they have, since 1971, produced coins for a variety of countries including Iran, Jamaica, Venezuela, and many others.
More recently, RCM has produced a special series of coins for the Vancouver Winter Olympics which is one of their most popular special editions. In addition to the Vancouver Games coins, RCM has and continues to produce a multitude of special edition coins which are popular with investors and collectors alike.
Silver Bars Produced
RCM offers a fairly limited selection of silver bars. Most retailers only carry the 100 oz RCM silver bar, which is a .9999 fine piece that is stamped with the RCM logo. Below you can see an image of the 100 oz RCM silver bar:
Many investors prefer the RCM silver bars for several reasons:
- Wide availability – RCM produces mass quantities of the 100 oz silver bars each year, so they are widely available in the market and rarely experience supply issues.
- Trusted name – RCM is a very trusted name in the bullion industry, so investors are confident when they see the RCM stamp on the bar.
- Low premiums – Even though the bars are so widely in demand, they have very low premiums over the spot price of silver, typically a dollar or two per ounce in the retail sector.
To purchase RCM silver bars, visit www.JMBullion.com. JMB is our preferred dealer for RCM product, as they offer 100 oz RCM silver bars at the best prices online.