To put it simply: the Mint makes coins and the Bank makes bank notes
“Is this the place I can pick up that gold bar? “
“So you guys make the coins, right?”
If we had a nickel for every time people asked questions like that, we’d have… Well, I suppose we have roughly that number of nickels already; we have a long history as a currency museum after all. When the museum was open, somebody would ask a similar question several times a week. We’ve even had visitors argue with us, convinced that we were the Mint and they had made reservations for a tour. It was also a regular occurrence for a busload of school children to come see us when they were meant to go to the Mint and vice-versa.
It seems that the Royal Canadian Mint and the Bank of Canada get easily confused in the minds of the public. Both are crown corporations that produce currency and the Bank’s museum featured dozens of display cases stuffed with coins. Who can blame our visitors for being confused, really? All that’s required is a little education.
That’s what we’re here for and that’s why our new museum will be showcasing the four functions of the Bank of Canada - functions that, important as it is in its own right, the Mint does not share with us.
- Designing, producing and distributing Canada’s bank notes, replacing worn notes, deterring counterfeiting through leading-edge bank note design, public education and collaboration with law-enforcement agencies.
- Contributing to solid economic performance and rising living standards for Canadians by keeping inflation low, stable and predictable. Since 1991, the Bank’s monetary policy actions toward this goal have been guided by a clearly defined inflation target.
- Promoting a stable and efficient financial system in Canada and internationally.
- Providing effective and efficient funds-management services for the Government of Canada, as well as on its own behalf and for other clients.
All that being said, the Mint really is a great place to visit. We strongly recommend you take a tour. In a few years, you can tour us too. Please remember, though, we’ll be the ones on Wellington Street where they don’t make the coins.
We want to hear from you! Do you have an idea for a blog post you’d like to see?
Content type(s):
Blog posts
The Museum Blog
February 11, 2025
Money’s metaphors
Buck, broke, greenback, loonie, toonie, dough, flush, gravy train, born with a silver spoon in your mouth… No matter how common the expression for money, many of us haven’t the faintest idea where these terms come from.
Content type(s):
Blog posts
Subject(s):
History,
Social studies
August 6, 2024
Treaties, money and art
The Bank of Canada Museum’s collection has a new addition: an artwork called Free Ride by Frank Shebageget. But why would a museum about the economy buy art?
Content type(s):
Blog posts
Subject(s):
Arts,
History
July 16, 2024
Rai: big money
By: Graham Iddon
An item is said to have cultural value when it can be directly associated with the history, people, beliefs or rituals important to a society. It’s the same with a rai—its value can be greater depending upon who authorized it, who carved it and who subsequently owned it.
Content type(s):
Blog posts
Subject(s):
Economy,
Geography,
History
Grade level(s):
Grades 11 and 12 / Secondary 5 and CEGEP
April 18, 2024
Lessons from the Great Depression
By: Graham Iddon
What the stock market crash of 1929 did was starkly reveal the weaknesses of economic systems that had evolved from the unregulated capitalism of the late 19th century.
Content type(s):
Blog posts
Subject(s):
Financial literacy,
History
Grade level(s):
Grade 09 / Secondary 3,
Grade 10 / Secondary 4,
Grades 11 and 12 / Secondary 5 and CEGEP
