Product Owner: Royal Canadian Mint
Describe the project nominated
As part of an ongoing pursuit at increasing coin security and reducing costs, the Royal Canadian Mint has developed and launched a Tri-Metal Security Token. The Tri-Metal Security Token is made from 3 metallic pieces comprising one metal ring and 2 inserts each of which is approximately half the thickness of the outer ring. This novel geometry results in a coin with 2 different metals on each side and allows for an increased level of security at a cost effective price. Security is increased with both visual and electromagnetic distinction on each side. The inserts can be homogenous coinage alloys like Cupronickel and Copper, Multi-ply electroplated steel, or a combination of plating on alloys. The Tri-Metal token launched as part of a Research and Development Security set has a multi-ply brass plated steel outer ring, a multi-ply nickel plated steel insert for the obverse side, and a multi-ply copper plated steel insert for the reverse side. The plating on the inserts was strategically designed to provide a different electromagnetic signature on each side of the coin. Since side specific electromagnetic signatures cannot be read by some of the coin validation industry equipment, there is an option for different colors on each side with the same electromagnetic signature. By combining electroplating with traditional coinage alloys new opportunities for ever increasing coin security can be achieved. Multi-ply plating has a proven historical record of cost savings that can readily be applied to the new tri-metal geometry. 10,000 sets sold out very quickly.
Efficiency is increased several ways. Material efficiency is increased by minimizing blanking waste. Clad “Flip flop” coins have expensive waste in the form of scissel where clad material is wasted in an attempt to make a coin with 2 different materials on each side. Multi-ply plated steel inserts only has cost effective steel scissel which is basically pure iron and is very easily recycled. Process efficiency is achieved by sequentially loading the inserts into the outer ring ensuring the properly material is always with the proper coin effigy. Other systems like flip flop need inspection to sort and flip the clad insert to ensure the proper material is with the proper coin effigy. Over 10,000 Security Test Tokens were coined on existing Tri-Metal coining presses at over 400 coins per minute. With increased focus and trials the speed can be increased to maximum coining press speeds of 750 per minute.
Safety or Environmental Protection
The Tri-Metal Security Test Token utilyses Multi-Ply plating that is an environmentally friendly and safe process as compared to dangerously toxic cyanide plating.
Notably Improved Quality of a Product or Process
What is Quality? A consumer product does not need to be expensive to have high quality. For instance, a quality pen does not need to be luxurious like Mont Blanc. The ubiquitous Bic pen is a quality pen because it effectively and reliably puts ink to paper and does so at a cost effective price. With Quality being defined as “meeting customer value expectations” and coinage customers expecting security and cost effectiveness, then the Tri-Metal token marks a notable improvement in Quality of both product and process. The Tri-Metal Security Token meets a coinage customers value expectations by increasing coin security with a complex coin structure, advanced electromagnetic signature (EMS), cost effective materials and leveraging established coining processes. The Tri-Metal Security Token can have advanced electromagnetic signature to work with the latest coin validation equipment, or it can have traditionally compliant electromagnetic signature to work with existing coin validation technology. The two sided color uniqueness is an immediate visual security feature for the most traditional and important of cash transactions – person to person. Another standout feature for customers that are football enthusiasts (or soccer in North America), the traditional pre-match coin flip question can now be expanded from “Heads or Tails?” to “Copper or Nickel?”. As you grade this question, please consider the pen that you might use to make notes to score this 250 word response. Does your pen effectively mark a full score on paper? If so, it truly is a pen of very very very high quality.
Product or feature uniqueness
As described above, The Tri-Metal Security Token is unique and novel product that is patent protected in several jurisdictions.