Order Amending Part 2 of the Schedule to the Royal Canadian Mint Act, 2026: SOR/2026-224

Canada Gazette, Part II, Volume 160, Number 22

Registration
SOR/2026-224 October 23, 2026

ROYAL CANADIAN MINT ACT

P.C. 2026-1011 October 23, 2026

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, makes the annexed Order Amending Part 2 of the Schedule to the Royal Canadian Mint Act, 2026 under section 6.6footnote a of the Royal Canadian Mint Actfootnote b.

Order Amending Part 2 of the Schedule to the Royal Canadian Mint Act, 2026

Amendments

1 Part 2 of the schedule to the Royal Canadian Mint Actfootnote b is amended by adding the following after item 1.1:

1.2 A two dollar coin of which

2 Part 2 of the schedule to the Act is amended by adding the following after item 2.2:

2.3 A one dollar coin of which

Coming into Force

3 This Order comes into force on the day on which it is registered.

REGULATORY IMPACT ANALYSIS STATEMENT

(This statement is not part of the orders.)

Issues

Canada’s one- and two-dollar coins were last modernized in 2012 with cost-effective composition changes and strengthened security features. Advancements in coin manufacturing processes have presented the Royal Canadian Mint (the Mint) with new opportunities to improve Canada’s one- and two-dollar coins to provide Canadians with more secure, efficiently produced and environmentally responsible coinage.

Background

The Mint is mandated to produce and distribute circulation coins to support and facilitate daily trade and commerce in Canada by efficiently and sustainably producing and distributing Canada’s coinage. The Mint manages Canada’s circulation coin ecosystem in collaboration with partners from the National Coin Committee (NCC) — comprised of financial institutions and armoured car carriers — through the Mint’s proprietary software that provides a real-time view of circulating coin inventories. With a focus on sustainability, the Mint prioritizes the recirculation of coins over the production of new coins. The Mint prides itself on many innovations demonstrating global leadership in sustainability, cost effectiveness and security.

In response to the Government’s direction to modernize and strengthen the integrity of Canada’s high-denomination coinage in 2012, the composition of one- and two-dollar circulation coins was changed from alloy to multi-ply plated steel (MPPS). This change significantly reduced production costs and improved the security features. In the period since, the Mint has continued to work on improving the efficiency and sustainability of coin production, including the development of a world-first cyanide-free bronze-plating process. Additionally, the Mint has a responsibility to preserve the integrity of Canada’s currency system. To continue providing the Canadian public with confidence that the country’s monetary supply is genuine and secure, proactively enhancing the coins with more advanced, world-leading security features will further safeguard the integrity of Canada’s high-denomination coins.

Objective

The objectives are to authorize the Mint to more efficiently and sustainably produce and distribute one-dollar and two-dollar circulation coins in new compositions and bearing enhanced security features in the forthcoming years, with only the date of issue changing.

Description

The existing yellow-coloured brass components of Canada’s one- and two-dollar circulation coins will be updated: the one-dollar coin will be bronze-plated steel (one-dollar coins have been produced in multi-ply brass-plated steel since 2012); the two-dollar coins’ inner core will be aluminum bronze (two-dollar coins’ inner cores have been produced in multi-ply brass-plated aluminum bronze since 2012). The two-dollar coin retains an outer ring of multi-ply nickel-plated steel. All one- and two-dollar circulation coin compositions currently approved under the Royal Canadian Mint Act remain valid.

Enhancing the coins’ security features will ensure continued high levels of protection and further safeguard Canada’s high-denomination coinage against counterfeiting. These enhancements modify the one-dollar coin’s standard reverse design, and the two-dollar coin’s standard reverse and standard obverse designs.

The updated one- and two-dollar designs appear as follows:

One-dollar coin:

The reverse design retains the standard design of a common loon at rest on a lake with an islet in the background and the following inscriptions: the artist’s initials “RRC”, “CANADA” and “DOLLAR”. It bears the following enhanced security features: sixty-seven beads and ten maple leaves, two of which are in sunken relief, around the circumference; a pulsating maple leaf near the top; and, beneath the loon, a dynamic surface texture.

The obverse design retains the effigy of His Majesty King Charles III, and “CHARLES III”, “D G REX”, the year of issue, and the artist’s initials “SR” are inscribed on its obverse. Beading appears around the circumference.

Two-dollar coin:

The reverse design retains the standard design of a polar bear standing on an ice floe surrounded by water and other ice floes on the coin’s inner core with the following inscriptions: the artist’s initials “BT”, “CANADA”, and “2 DOLLARS”. It bears the following enhanced security features: appearing on the outer ring, at the top, two virtual images of a maple leaf that appear as the number “2” when the coin is tilted, between which appears a maple leaf in sunken relief; and, at the bottom of the outer ring, two pulsating maple leaves.

The obverse design retains the effigy of His Majesty King Charles III. “CHARLES III”, “D G REX”, the year of issue, and the artist’s initials “SR” are inscribed on the obverse. The obverse includes the following enhanced security features: on the left-hand side of the year of issue appears a new maple leaf struck in positive relief within which the word “CANADA” is repeated in micro-text; and on the right-hand side of the year of issue appears a maple leaf struck in sunken relief within which the word “CANADA” is repeated in micro-text.

The edge of the coin featuring this design retains the inscriptions “CANADA” and “2 DOLLARS”, with a maple leaf before and after the inscription “CANADA”.

Regulatory development

Consultation

These orders have been exempted from prepublication in the Canada Gazette, Part I, because coin characteristics do not have a regulatory or legislative impact on the Canadian public and these changes will have no impact on day-to-day transactions.

Internal and third-party testing indicated that these coins generate the same electromagnetic signature (EMS) as existing coins — EMS is a crucial security feature determined by a coin’s composition and structural design that coin-operated equipment must be able to recognize. Testing also confirmed the updated coins’ acceptance by existing coin-operated equipment, including pay phones, coin redemption machines, vending machines and parking meters. Therefore, the updated coins function the same way as existing coins with no impact on trade and commerce, day-to-day transactions, and/or coin users.

In addition, the Mint consulted with the organizations listed below, inviting them to provide their feedback on the updates to the coins between March and April 2026. The organizations included: the Bank of Canada; Canadian Automatic Merchandising Association; Canadian Federation of Independent Grocers; Canadian National Institute for the Blind; Canadian Parking Association; Canadian Urban Transit Association; Coinstar; Convenience Industry Council of Canada; National Anti-Counterfeiting Bureau; National Coin Committee; Restaurants Canada; and the Retail Council of Canada.

No concerns were raised during these consultations, and stakeholders were keen to receive more information regarding the appearance of the updated security features and for information packages they could share with their networks, which the Mint will provide prior to distribution. In addition, the Mint will send sample coins to coin acceptance mechanism manufacturers and vending equipment operators in anticipation of the coins’ distribution.

Broader public awareness will be generated and supported by a news release, social media content, and information on the Mint’s website to ensure Canadians are aware that these updated coins perform the same function in trade and commerce as previously issued coins, which also remain legal tender.

Indigenous engagement, consultation and modern treaty obligations

Following the completion of the assessment of modern treaty implications, no adverse impacts on potential or established Indigenous or treaty rights, which are recognized and affirmed in section 35 of the Constitution Act, 1982, were identified.

Instrument choice

Pursuant to sections 6.4, 6.5, and 6.6 of the Royal Canadian Mint Act (the Act), the Governor in Council may, by order, authorize the issuance of circulation coins of a denomination listed in Part 2 of the schedule to the Act and determine the characteristics and design of any circulation coin to be issued. These orders are the only instrument choice available under the Act to authorize the issuance and characteristics of circulation coins and approve their design.

Regulatory analysis

Benefits and costs

Costs related to the production and distribution of coins made in the new compositions and bearing enhanced security features will be consistent with the present costs of producing and distributing one- and two-dollar coins. There are no incremental process, resource or equipment costs because the process has already been established and all necessary investments to produce coins have already been made due to its use for international customers. Other related costs are not unique to this process and would have been incurred regardless.

Producing Canada’s one- and two-dollar circulation coins in these updated compositions will improve tarnishing resistance over the coins’ lifespan, eliminate a toxic chemical from the manufacturing stream with direct health and safety benefits, and enable process improvements that will lower the Mint’s greenhouse gas emissions (GHG) while enhancing the resilience of the production process.

It is important to note that the legal tender status of existing one- and two-dollar circulation coins will not be affected by the introduction of a new composition and security features. All coins presently in circulation will continue to be accepted as valid forms of payment.

Small business lens

Analysis under the small business lens concluded that these orders will not impact Canadian small businesses.

One-for-one rule

The one-for-one rule does not apply, as there is no incremental change in the administrative burden on business and no regulatory titles are repealed or introduced.

Regulatory cooperation and alignment

Given that these orders authorize the issuance of new characteristics and designs for standard circulation coins, there is no regulatory cooperation or alignment component associated with it.

Effects on the environment

In accordance with the Cabinet Directive on Strategic Environmental and Economic Assessment, a preliminary scan concluded that a strategic environmental and economic assessment is not required.

The amendments introduce a more environmentally responsible manufacturing process for the coins by enabling the removal of legacy equipment that will lower the Mint’s Winnipeg facility’s annual GHG emission generation by approximately 100tCO2e/year, based on information from a 2022 study. It will also remove a toxic chemical (cyanide) from the production process.

Gender-based analysis plus

No gender-based analysis plus (GBA+) impacts have been identified for these orders.

Implementation, compliance and enforcement, and service standards

These orders come into force upon their approval. Coins are to be produced and distributed on an as-needed basis to meet market demand for newly produced coins through the Mint’s national coin distribution system, in collaboration with financial institutions and armoured car carriers.

There are no compliance and enforcement requirements associated with these orders.

Contact

Andrea Kniewasser
Vice-President, General Counsel and Corporate Secretary
Corporate and Legal Affairs
Royal Canadian Mint
320 Sussex Drive
Ottawa, Ontario
K1A 0G8
Telephone: 613‑867‑9746
Email: kniewasser@mint.ca