Presentation on theme: "ISRAEL GOVERNMENT COINS & MEDALS CORPORATION. 2 BACKGROUND The Israel Government Coins & Medals Corporation (IGCMC) was established in 1961 by David Ben."— Presentation transcript:
ISRAEL GOVERNMENT COINS & MEDALS CORPORATION
2 BACKGROUND The Israel Government Coins & Medals Corporation (IGCMC) was established in 1961 by David Ben Gurion, the first Prime Minister. The Corporation has remained under the full ownership of the State of Israel. The corporation is active in several spheres of activity: coins, medals, ancient coins, judaica and decorative items, jewelry and art items.
3 GOALS OF THE CORPORATION The Goals of the Corporation stated in the Articles of Association are: To commemorate historic and national events, achievements of the State of Israel, important personalities and leaders, historic sites, meaningful personal and family milestones; to advance Israeli and Jewish art; the purchase and sale of ancient and modern Israeli coins.
4 COMMEMORATIVE COINS AND SPECIAL ISSUES SPHERES OF ACTIVITY: Commemorative coins and special coins are Issued by the Bank of Israel. The Israel Government Coins and Medals Corporation is the exclusive certified distributor of these coins in Israel and worldwide. Five coins are generally struck each year, including an Independence Day coin and a set of Hanukka coins.
5 COMMEMORATIVE COINS AND SPECIAL ISSUES -Continued- SPHERES OF ACTIVITY: Some of the coins are issued as part of series, for example the Biblical Art series, Israel Independence Day Coins series, and Israeli Nobel Prize Winners series. Other coins are issued individually, for example, the Judo coin and Saluting Reserve Soldiers. The Corporation markets two sets of circulation coins annually: Uncirculated Coin Set Hanukka Mint Set (Contains special coins with the word Hanukka and a tiny Menorah Mint Mark.)
6 למדליות ולמטבעות SPHERES OF ACTIVITY: ANCIENT COINS The IGCMC markets authentic ancient coins and other antiquities, such as oil lamps and jewelry set with ancient Roman Glass. All items are chosen with the assistance of experts. They are sold under license from the Antiquities Authority and are accompanied by certification of authenticity and historical explanations.
7 למדליות ולמטבעות MEDALS SPHERES OF ACTIVITY: The Corporation strikes and markets medals in Gold, Silver, Bronze, Copper-nickel, and occasionally Platinum. The design, production, determination of metal content, quantities, and prices are the responsibility of the IGCMC. There are three categories of medals: Official or State Medals Official Award Medals Official Award Medals ordered by a specific institution
8 The IGCMC markets gift and decorative items designed by Israeli artists. These products are produced for the IGCMC in limited, numbered editions with the artists signature. Many items incorporate in the design medals sold by the Corporation. Most items are sold on consignment. The Corporation also markets Judaica items such as: Hanukka lamps, Mezuzah cases, Bibles, Passover Haggadot, Kiddush cups, etc. JUDAICA AND GIFT ITEMS SPHERES OF ACTIVITY:
9 The Corporation markets a variety of jewelry items and watches, frequently embellished with a medal. Adillion, a registered trademark of the IGCMC, is a coin or medal mounted in a gold or silver frame. Jewelry items are supplied with a Certificate of Authenticity certifying the design, metal content, and quality of the stones. JEWELRY AND WATCHES SPHERES OF ACTIVITY:
10 The IGCMC offers its subscribers art items including lithographs, serigraphs, sculptures, wall rugs, and other art objects. The art items, chosen with the assistance of the Corporations art consultant, include works by artists of world renown such as Chagall, Rubin, Castel, Gutman, and Modigliani, as well as works by promising Israeli artists. Art Lovers club
11 The IGCMC has a subscriber base of about 40,000 people in Israel and abroad. Six times annually subscribers receive a brochure describing new products offered by the Corporation. Orders are received at the Corporations office in Jerusalem where the products are packed and shipped by mail, within Israel and abroad. Orders can also be placed via the online shop on the IGCMC website. MARKETING
12 The IGCMC has six shops in Israel: Operated directly – in Tel Aviv, Haifa and Ben Gurion Airport Operated via concession – in Jerusalem, Raanana abd Beersheva MARKETING -Continued-
13 Issuing Commemorative Coins of the State of Israel is the exclusive responsibility of the Bank of Israel. In certain cases, the IGCMC is authorized by the Bank of Israel to produce the coins that the Corporation markets. In 2004 the IGCMC set up a mint near Jerusalem. Recent Commemorative Coins issued by the Bank of Israel were struck by the Corporation at quality levels comparable to those abroad. final authorization by the Bank of Israel before they are released. PRODUCTION OF COINS
14 The Corporation strikes most gold, silver, and bronze medals up to 50mm (5cm) diameter in the IGCMC mint. The remaining medals are produced in Israel and abroad (mostly in Europe and the U.S.) PRODUCTION OF MEDALS
15 PERSONNEL The Corporation employs 40 people. 15 employees are covered by a collective agreement, and 25 work according to private contracts.
16 BOARD OF DIRECTORS ACCOUNTANT LEGAL COUNSEL COMPTROLLER ACCOUNTANT LEGAL COUNSEL COMPTROLLER PRODUCTION AND PROPERTY DEPARTMENT PRODUCTION AND PROPERTY DEPARTMENT FINANCE DEPARTMENT Computer System FINANCE DEPARTMENT Computer System HAIFA SHOP HAIFA SHOP DUTY-FREE SHOP TERMINAL 3, BEN-GURION AIRPORT DUTY-FREE SHOP TERMINAL 3, BEN-GURION AIRPORT TEL AVIV SHOP TEL AVIV SHOP JERUSALEM SHOP (concession) JERUSALEM SHOP (concession) RAANANA SHOP (concession) RAANANA SHOP (concession) LOGISTICS AND VAULT IGCMC Mint MARKETING AND ADVERTISING DEPARTMENT MARKETING AND ADVERTISING DEPARTMENT CUSTOMER SERVICE DEPARTMENT Mailing in Israel and Abroad CUSTOMER SERVICE DEPARTMENT Mailing in Israel and Abroad MANAGING DIRECTOR BEERSHEVA SHOP (concession) BEERSHEVA SHOP (concession) ORGANIZATION STRUCTURE DEPUTY MANAGING DIRECTOR
,38730,612 26,39525, ,7674,587 A. Balance Sheet Total Shareholders Equity and Liabilities Shareholders Equity Long Term Liabilities Current Liabilities Data from the Financial Report In thousands of shekels FINANCIAL INFORMATION
18 FINANCIAL INFORMATION 2006 ASSETS ,101 Fixed Assets 1,244 2,958 Investments 2,034 34,328 Current Assets 27,334 Data from the Financial Report In thousands of shekels
19 Data from the Financial Report In thousands of shekels B. Statement of Income 17,571 Annual Revenue 18,321 (125) Profit (loss) from operations Profit (loss) before taxes FINANCIAL INFORMATION
20 C. Statement of Cash Flow (1,615)1,247 Cash Flows from (to) Operating Activities 8,699(17) Net Cash Flow from (to) Investing Activities 7,0841,230 Increase (Decrease) in Cash and Cash Equivalent Data from the Financial Report In thousands of shekels FINANCIAL INFORMATION