Really well, as a matter of fact
“Key performance indicator.” That’s business lingo for measuring how well we’re doing. Unlike many of the Bank’s departments, it’s easy to measure the Museum’s success: visitor numbers. Not to brag (Ha, who am I kidding?) we had 2,823 people visit the Museum on Canada Day. The following Sunday and holiday Monday yielded a further 933 and 756 visitors, respectively. Visitorship has stayed extremely healthy since then, averaging between 350 and 400 visitors a day. For the month of July and the first three weeks of August, that adds up to just over 25,000 visitors (wow). As an unfair comparison, the Currency Museum (as the Museum used to be called) pulled in just under 9,000 visitors for the same period in 2012. I say “unfair” because Ottawa had an unprecedented influx of tourists this summer. There was just so much going on. One day this month we recorded a whopping 902 visitors when “La Machine” roared through the neighbourhood. So, it would seem that when a giant, fire-breathing mechanical dragon-horse battles a two-story-tall spider near the Museum, it’s a boost for our attendance numbers. Or maybe it was our fine display of share certificates that was the draw. There’s just no way to tell.
Complicating these straightforward statistics is the attendance we recorded at our information kiosk on both Canada Day and Colonel By Day. Together, the two events drew 4,300 people to the kiosk. If you add this to the visitors in July, nearly 30,000 people (from all over Canada and the world) know we are here and have taken an interest in us—if only a mere 25,000 actually visited the Museum. It’s all good, and we couldn’t be happier with our first few weeks of business.
One key feature of the Museum was not available during these few weeks: the gift shop. Every museum needs a gift shop; it’s a traditional part of a family visit, but ours wasn’t going to be ready for opening day. We opened the doors at 10:00 on August 22. OK, it wasn’t Black Friday at the mall, but a very respectable number of visitors perused the items on the shelves on what turned out to be a miserably rainy day. We hit our targets on the following two days.
So, what’s the key performance indicator for the gift shop? To have a respectable day, the number of transactions should equal 8 per cent of the number of visitors to the Museum. This sounds pretty paltry, but the gift shop is not mandated to turn a profit. Its purpose is more closely related to the Museum’s mandate. The gift shop is a last chance for visitors to ask questions and to solidify or broaden their experience. It’s one more space for conversations about the Bank and the economy and is considered an “experience augmentation.” However, we still want you to buy stuff!
I will say again just how happy we are with our first few weeks of operation. The good reviews are rolling in, and we’re already well on our way to meeting our visitorship targets for 2017. Yay!
In 1812, British North America had no banks and little currency. With the prospect of war drying up supplies of coins, the government of Lower Canada decided to issue legal tender notes called “army bills” to pay for troops and supplies.
What was proposed was a complete about-face from the philosophy behind recent security printing. If photocopiers could easily deal with the colours and designs of the current series, then the next series should be bold and simple.
From windmills and solar panels to electric cars, signs of the green economy are all around us. Check out our resources for how to teach about the green economy.
Introduce important financial skills to your children, and help them plan for their futures with free resources from the Bank of Canada Museum and others.
COVID-19 has had an unprecedented effect on the economy: closing businesses, driving down demand and interrupting supplies. With news stories and popular culture addressing inflation and supply chain issues, now is the perfect time to explain this key economic concept to your high school students.
Few of us have ever met her, and it’s likely none of us are even remotely related to her. Yet, Canadians have carried her picture in their wallets for generations now. She’s Queen Elizabeth II and has been our monarch for over 70 years.
The Bank of Canada Museum is responsible for the National Currency Collection, and part of its mandate is to foster and develop that collection. Despite the challenges of collecting during a pandemic, curators at the Bank of Canada Museum have acquired some unique artifacts—including some that document the pandemic itself.
What is money—when you really stop to think about it? To understand how money works, and what it ultimately represents, we need to strip it down to its very basic function.
The 1911 silver dollar has a history to match its prestige, and it now has a permanent home in the National Currency Collection of the Bank of Canada Museum.
The $20 bill of 1969 was the prototype of the Scenes of Canada note series. Yet, as more notes were designed, the theme—and the $20 note itself—would change.