In this article, we summarise the information from central bank reports on circulating and commemorative coins and numismatic programmes.

To commemorate the centenary of Gustave Eiffel’s death – the French civil engineer and architect of the world famous Eiffel Tower and several other iconic monuments – Monnaie de Paris has created a collection of gold and silver coins. Amongst these is a €25 silver proof coin that features an NFC chip on its reverse which, when scanned, reveals the coin’s technical specifications.

The Central Bank of Curaçao and Sint Maarten has announced its approval of samples of the 1 cent, 5 cent, 10 cent, and 50 cent coins for the new Caribbean guilder currency. Now that the samples have been approved, the Royal Canadian Mint – the chosen supplier of the new coins – can begin pre-production trials for the lower denomination coins.

In December 2022, Coin & Mint News was still in its fledgling stages, and we published a round-up of three key trends that became ever more apparent over the course of last year – environmental sustainability, effective circulation, and industry collaboration.

As those involved in the industry continuously review the cost of coins, not just production but also distribution and circulation costs, so do government bodies to ensure that the currency systems in place are best suited to the areas in which they operate.

The European Commission has published the results of its latest Eurobarometer, a survey conducted to measure public perceptions of the euro currency among citizens living in euro-area countries.

The Royal Australian Mint has been awarded the ‘Best CashTech Award’ for its Donation Dollar at the recent CashTech Innovation Awards held earlier this month at the Future of Cash Conference in Istanbul, Türkiye.

Monnaie de Paris, the French-state owned mint, has been in existence since 864, making it not only the oldest institution in France, but probably in the world too. Coin & Mint News™ spoke to its CEO, Marc Schwartz, about the company, his views of the industry as a relative newcomer, and how it is meeting the challenges of today for coins.

On the International Day of Child Rights, the Royal Dutch Mint (RDM) released the Free a Girl coincard featuring its first ever RDM NFT (Non-Fungible Token).

Held during the Gala Dinner at the recent MDC 2023 in Ottawa, Canada, the MDC Awards included an additional category for the first time, namely the ‘Best Sustainability Initiative’.

The Royal Canadian Mint has unveiled and struck the first Canadian coin bearing the effigy of HM King Charles III, with the $1 circulation coin becoming the first to display the portrait of a new monarch in 70 years.

The central bank of Morocco, Bank Al- Maghrib, has issued a new coin series into circulation as part of its latest round of currency updates. Alongside new 10 centimes, 20 centimes, ½ dirham, 1 dirham, 5 dirham, and 10 dirham coins, an updated 100 dirham banknote has also been issued.

A few recent personnel updates from The Royal Mint, SPMCIL, ACYS Lasertechnik, the South African Mint, IACA, and the Perth Mint.

Following the announcement and subsequent issue of a new royal effigy for the obverse of the United Kingdom’s coins, The Royal Mint has recently unveiled eight new reverse designs for a completely updated set of the nation’s circulating coinage.

The 2023 MDC received record-breaking 204 entries in total for the five categories of the 2023 MDC Awards, with the ceremony taking place during the MDC Gala Dinner, held at the Canadian Museum of History.

The Royal Canadian Mint has issued its latest circulating commemorative $2 coin, honouring influential 20th century visual artist Jean-Paul Riopelle. Released to mark the 100th anniversary of his birth, the coin marks the artist’s contribution to Canada’s cultural heritage.

The Royal Australian Mint (RAM) recently published its annual report for 2022. In the year, 110 million circulating coins were supplied to banks, a decrease of 19 million from the 119 million supplied in 2021-2022.

Banco de Guatemala and the Mint of Finland have announced the signing of a new contract for the production and supply of circulation coins from the former to the latter. The Mint of Finland will produce and supply 400 million pieces of 1 quetzal circulation coins, with deliveries taking place between 2023 and 2025.

At the recent Mint Directors Conference in Ottawa, the Mint Directors Association (MDA) was formally announced. It has now been legally incorporated as a not-for-profit association, and is the successor to the MDC, the looser association of mint directors that has been in existence since 1962.

The 2023 Mint Directors Conference took place in Ottawa, Canada, earlier this month. Hosted by the Royal Canadian Mint, the event was the first MDC held in five years and welcomed over 250 delegates from mints and the wider industry across the globe.

As announced last month, Coiniverse, the coin collecting app set up by the Mint of Finland, has been spun out into an independent startup. Coin & Mint News™ spoke to its new CEO, Mikko Sievänen, about the new company’s plans for development, the role of digitisation in the coin sector, and where he sees both numismatics and Coiniverse in the future.

The Croatian National Bank has issued the country’s first circulating commemorative €2 coin. Minted by the Croatian Mint, 250,000 coins – commemorating Croatia’s adoption of the euro as its currency at the beginning of this year – have been released into circulation.

Established in 2020 to support national law enforcement authorities in their efforts to fight financial and economic crimes and aid in international cooperation and information exchange, Europol’s European Financial and Economic Crime Centre (EFECC) has just released its first threat assessment on the matter.

The Isle of Man is consulting the public on proposals to modernise its banknotes and coins. According to the Manx Treasury, the change of monarch from Queen Elizabeth II to King Charles III is an opportune time to consider the designs.

The Bank of Estonia (Eesti Pank) has launched a coin collection campaign in collaboration with Estonian-based postal service and logistics company Omniva. The campaign aims to collect one million coins through a pilot programme whereby people can exchange their accumulated coins in selected post offices.

The East India Company has produced ‘The Crown Coin’, one of the most expensive coins ever produced, to commemorate the late Queen Elizabeth II.

Dr Tomasz Jagielinski has embarked on a new endeavour by forming NXTGenDetect, LLC, a company that will specialise in providing comprehensive consulting and advisory services in the field of security, detection, and authentication, focusing on banknotes, coins, and other high- value items.

Gold Corporation, which trades as The Perth Mint, has released its 2022-23 annual report, which reports a pre-tax profit of $52.67 million for the year to end June.

The International Mint Industry Association (IMIA) has issued a position paper on the European Commission’s (EC) draft regulations on the legal tender of euro banknotes and coins.

Coiniverse, the coin collecting app set up by the Mint of Finland, has been spun off from the Mint into an independent startup. As an independent startup, the company aims to increase its user base across the globe and create a trusted collector community where mints are readily accessible.

We continue our periodic series of articles on the latest annual reports from central banks and the information they provide on cash, along with circulating and commemorative coins.

The Mint Directors Conference (MDC) 2023 is fast approaching and the hosts, the Royal Canadian Mint, have shared the highlights of the programme, comprising two days of thought-provoking sessions designed to spark conversation, open minds and look to the future for the global minting industry.

Originating out of the Mint Directors Conference, the Mint Directors Association (MDA) is the newly created not-for-profit incorporated association representing sovereign mints from across the globe.

Brazilian gold aggregator Fênix DTVM, in partnership with company Minespider, has completed their first phase of a gold traceability project in Brazil.

In this article, currency designer Michael Berman touches on his background in the coin design world and explores the use of ProImage’s Arziro software – to design coinage.

Earlier this year, IQ Structures, a Czech specialist in optical nanostructures, launched IQ Mint, a technological solution for anti-counterfeit protection and the visual enhancement of precious metal objects, such as coins, medals and investment bars.

At the Coin Conference in Amsterdam last October, Beatriz Guia of Banco de España provided an overview of Spain’s coin circulation and management. This article is based on that presentation, with an update following the publication of the BdE’s annual report this summer.

The Royal Dutch Mint has produced a commemorative coin to mark 100 years of aviation in Aruba, a centenary since two US Navy Curtiss H-16 long-range maritime patrol flying boats landed for the first time in Paardenbaai, or the Port of Oranjestad.

The Royal Australian Mint has released a collection of five commemorative coins to celebrate the 50th anniversary of what is arguably Australia’s most famous building, the Sydney Opera House.

Danmarks Nationalbank has decided to close the Royal Danish Mint’s webshop at the end of the year, with the decision taken due to declining sales figures and higher coin production costs for the webshop.

The Coin of the Year (COTY) Awards have been held every year since 1984, with a panel of judges nominating ten coins in each of the ten award categories. From there, another panel of international judges reviews the nominees and select the category winners.

Earlier this year, The Royal Mint released a series of coins to commemorate the coronation of HM King Charles III. One of these coins was a special 50p coin designed by one of the Mint’s product designers, Natasha Jenkins.

Arcelor Mittal have launched their XCarb® programme ‘towards neutral steel’, as in carbon neutral steel. Steel is widely used the production of coins.

The Banco de la República (Colombia) and the Mint of Finland have signed a new contract for the production and supply of Colombian coins, which includes three denominations – $50, $200 and $500 Colombian pesos.

In The Royal Mint's Annual Report 2022-23, the Chief Executive, Anne Jessopp, noted that it has been a pivotal year for the Mint as it embarked on a five-year business transformative plan. Revenue for the year increased by 33.82% to £1.87 billion, from £1.4 billion in FY 2022. Operating profit increased by 27.3% to £17.7 million compared with £13.9 million for the previous year.

As with most organisations involved in the production of currency, the US Mint continues to regularly release new products in both the circulating and commemorative spheres. In addition to this, the Mint is currently seeking applicants for appointment to the CCAC, and has announced its participation in this year’s World’s Fair of Money®.

By its very nature, bullion is a valuable and more expensive commodity than standard commemorative coins comprised of nickel, copper or zinc, for example. This can lead to greater scrutiny of the items produced and their provenance.

In the start of a new, periodic, series in Coin & Mint News™, we will be looking at the history of coinage in countries around the world, starting in this first article with Pakistan.

Hosted by the Royal Canadian Mint and scheduled to be held this October in Ottawa, Canada, the programme for the 2023 Mint Directors Conference has been announced. In addition, the World Money Fair’s Technical Forum – scheduled to be held on 1 February 2024 – has announced its Call for Papers for the 20th edition of the Forum.

As technology evolves, so do the methods used by counterfeiters and other bad actors in attempting to circumvent any new features put in place to ensure the authenticity and traceability of products. This is particularly true in the currency industries and, most relevant here, in the case of precious metals and numismatic products.

As co-hosts of the 2023 FIFA Women’s World Cup, the Australian women’s national football team, the Matildas (so-called due to the country’s famous folk song, ’Waltzing Matilda’), have now been immortalised on a series of commemorative circulating coins by the Royal Australian Mint.

The Reserve Bank of Zimbabwe is issuing gold coins which are specie rather than fiat money in an attempt to stabilise the Zimbabwean currency, bring inflation under control and reduce reliance on the US dollar.

In celebration of National Indigenous Peoples Day in Canada, the Royal Canadian Mint has launched a new $2 commemorative circulation coin, which features the combined work of three artists.

The Italian government has appointed a new President and a new managing director for Istituto Poligrafico e Zecca della Stato (IPZS), the Italian Mint.

We continue our periodic series of articles on the latest annual reports from central banks and the information they provide on circulating and commemorative coins.

Hosted by the Royal Canadian Mint and scheduled to take place this October, the 2023 Mint Directors Conference (MDC 2023) has announced the second keynote speaker for the programme.

Back in December, Coin & Mint News posed the question ‘how important is ethical sourcing?’, highlighting a few organisations that are considering the sourcing of their metals and looking at ways to make the process more transparent and sustainable.

The Bangko Sentral ng Pilipinas has launched Coin Deposit Machines in partnership with several retailers, aiming to promote efficient coin recirculation in the country. According to the bank, the machines are ‘accessible, convenient, and efficient coin exchange facilities’.

The Reserve Bank of South Africa runs the South African Mint as a wholly owned subsidiary. In its 2022/23 annual report it highlighted the issue of the fourth decimal coin series on 3 May 2023, the first new coin series in 34 years.

Leondaro Abdias, Director of Innovation and Market at the Brazilian mint, Casa da Moeda do Brasil, announced measures to combat illegal gold trade in Brazil during an event held in May titled ‘Ways of Gold: the Importance of Traceability to Prevent Illegality and Irregular Extraction’.

The Royal Canadian Mint has published its results for 2022, stating that, whilst its financial performance was below 2021 levels, this was expected given the exceptional performance seen in 2021, and planned operational maintenance in 2022. The Mint still exceeded its financial goals for 2022, as set out in the Corporate Plan.

In its annual report for 2022, INCM (Imprensa Nacional Casa da Moeda), described the year as a period of recovery, with a progressive increase in international business, despite the challenges posed by the conflict in Ukraine, the scarcity of raw materials and inflationary pressures.

The Mint of Poland, which trades on the Warsaw Stock Exchange as the only publicly-listed mint, has three distinct business segments – mint products, electronic payments, and real estate development, representing 82.7%, 16.54%, and 0.76% of revenue in 2022, respectively.

Earlier this year, Royal United Mint acquired Osborne Coinage Co, which is based in Cincinnati, Ohio and is the oldest private mint in the US. Coin & Mint News™ caught up with Vincent Van Hecke, CEO of RUM and the Royal Dutch Mint, to find out more about the acquisition, his plans for the company and where he sees the market for coins, bullion and tokens going in the next 10 years.

A number of central banks have recently released their annual reports, which include the latest figures on coins in circulation. Below are a selection of these reports and the figures noted within.

To celebrate 50 years of the Van Gogh Museum, the Royal Dutch Mint produced 50 silver coins which feature glass enamel sunflowers. The sunflowers were handmade by the Mint’s silversmiths in-house and are, of course, based on the famous Sunflowers painting created by Vincent van Gogh in 1889.

Data and trends, managing circulation well, optimising specifications, and the role and value of coins were the key topics of the Currency Conference Coin workshop. Minting and circulating coins have challenges but a vibrant and bustling story was evident in all areas with much to discuss and debate.

The Currency Conference gala dinner on 16 May hosted the presentation of the latest International Association of Currency Affairs 2023 Excellence in Currency Awards.

On 6 April, the soon to be crowned King Charles III and Queen Consort Camilla participated in a centuries old British ceremony that traditionally takes place on the Thursday before Easter Sunday, Maundy Thursday.

The Central Bank of Curaçao and Sint Maarten has selected the Royal Canadian Mint to produce and supply the countries’ new Caribbean guilder coins, which are scheduled for introduction in the second half of 2024.

The South African Reserve Bank has issued a new coin series, which is the fourth series since decimalisation in 1961 and the first coin redesign in 34 years.

The lowest denomination coins – cents, pennies, whatever – are a headache, for issuers and, increasingly the public. The rising costs of production increasingly mean that the face value of the coins are outstripped by their production costs – resulting in negative seigniorage. On this basis, why do countries keep on minting and issuing them?

For the 17th year in a row, the cost of producing the US penny and nickel has exceeded their face value, and is now running at an all time high, according to the United States Mint’s latest annual report.

At the start of January, Latvia’s central bank, Latvijas Banka, relocated the Cashier’s Offices to the same site as its cash processing centre and, at the same time, improved the coin change service that it offers.

The Turkish State Mint has reduced the size of the lira coins to offset rising minting costs, according to local reports.

The Croatian National Bank and Croatian Mint have jointly issued two new numismatic euro pieces – the first of their type since the country officially adopted the euro as its currency on 1 January 2023.

Marie Lemay joined the Royal Canadian Mint as its CEO in 2019. With nearly four years now under her belt, half of which were during COVID, Coin & Mint News spoke to her about how coins are circulated in Canada, design and the importance of numismatics, sustainability and plans for the next Mint Directors Conference, which the RCM is hosting this October in Ottawa.

Nominations are now open for the MDC’s prestigious Coin Awards. Last held in 2018, the awards recognise industry achievements in the design, production and packaging of coins, as well as, for the first time, sustainability in minting.

In the last two issues of Coin & Mint News™, we covered 10 of the presentations made in the first two sessions of the World Money Fair Technical Forum 2023. This month, we conclude the review with four presentations covering surface finishing and inspection, the recovery of e-waste, packaging and commemorative coins.

The Mint of Finland has issued its 2022 Corporate Social Responsibility report. This article is a summary of that report, along with the presentation that the Mint made in the coin session at the recent Silk Road Conference in Kazakhstan.

In 2022, the US Mint continued to manufacture coins at near record levels, producing nearly 14 billion in the year.

The Royal Canadian Mint (RCM) produces coins for Canada, exports over 1 billion coins each year and provides technical support and materials to other mints. Sustainability (in its broadest sense) is a key part of the Mint’s operations and philosophy and it has recently issued its 2023 Environment Social and Governance (ESG) report.

Hosted by the Royal Canadian Mint and scheduled to take place 15-18 October in Ottawa, the Mint Directors Conference has announced that the keynote speaker will be economist and former Governor of the Bank of Canada, Stephen Poloz.

Under section 104 of the US Presidential $1 Coin Act of 2005 (Public Law 109-145), the Board of Governors of the Federal Reserve System is required to submit an annual report to Congress on the Presidential $1 Coin Program.

Royal United Mint, the parent company of the Royal Dutch Mint and the Belgian Mauquoy Token Company, has acquired Osborne Coinage Co, based in Cincinnati, Ohio and the oldest private mint in the US.

At the upcoming Currency Conference, a workshop will be held on 15 May dedicated to coins, focusing on their intrinsic, essential and yet often overlooked role in the cash cycle, examining their importance for payments, the challenges they face, and how they can be made more cost-effective and accessible.

The International Currency Association (ICA), representing the global currency sector, has published a Cash Policy White Paper. It wants policy makers to recognise that the benefits of cash to society may be lost without practical steps to protect the supply and acceptance of cash in society and promote its further development.

The US Mint has commenced its 2023 American Women Quarters (AWQ) programme with the release of the first two coins in this year’s series.

Sustainability remains a topic of interest for the cash industry, both coins and banknotes. Government mints were early adopters of sustainability and have offered for many years programs where the public or businesses could redeem damaged or mutilated coins.

In last month’s issue of Coin & Mint News, we covered five of the presentations made in the first session of the World Money Fair Technical Forum 2023. This month, we cover the five presentations made in the second session, which focused on PVD coating and toolmaking.

The Central Bank of Curaçao and St Maarten has said it expects that the introduction of the new Caribbean guilder will be completed in the second half of 2024.

At the Coin Conference last October in Amsterdam, Alejandro Alegre Rabiela, General Director of Currency Issuance and Chief Cashier of Banco de México, described the proposals being made to improve Mexico’s coin circulation.

With the awards ceremony scheduled to take place at the Currency Conference in Mexico City (15-16 May), the finalists for the 2023 Excellence in Currency Awards have now been announced.

Both the Monnaie de Paris and the Mint of Finland have published their results for 2022. The French mint had a good year, the Finnish Mint did not.

Whilst some central banks are turning to technology to solve issues with coin distribution, the option of using coin-operated machines is steadily being replaced in many areas by those offering cashless payment options only. These options may be more convenient, but they can come at the expense of those who rely on traditional cash-accepting machines.

The Technical Forum returned as a live event this year when the World Money Fair took place for the 50th time from 3-5 February in Berlin.

The National Bank of Ukraine’s ‘30th Anniversary of Ukraine’s Independence’ 5 hryvnia silver coin has been voted the overall winner in the Coin of the Year (COTY) awards, run by American numismatic publisher Krause.

The Reserve Bank of India (RBI) is preparing to launch a new pilot project using QR code-based Coin Vending Machines in order to improve coin distribution in the country.

The official launch of the International Mint Industry Association (IMIA) took place at the World Money Fair in Berlin. The IMIA has been established to promote cash and coin access and acceptance, with six mints as founding members.

The Royal Australian Mint (RAM) has been selected as the winner of a Worldstar Packaging Award for its new sustainable Standard Proof Coin Box.

Three years to the day after first joining the South African Mint as its Managing Director, Honey Mamabolo sat down with Coin & Mint News™ to discuss the last few years as a leader and overcoming the challenges caused by the pandemic, the upcoming refreshed coin series, and the importance of coin in South Africa.

Counterfeiting is nothing new – indeed it has often been called the world’s second oldest profession. Counterfeiting of money has been going on ever since the invention of physical money in around the 6th century BC.

Last month, the ECB released its 2022 banknote counterfeit figures. Whereas the ECB publishes counterfeit banknotes statistics promptly one month after the year end, the figures for euro coin counterfeits are less timely.

A new event will be taking place later this year, namely the International Money Exposition, which is scheduled to take place between 26-29 October 2023 at the Music City Center in Nashville, Tennessee.

Currency Research will be holding the inaugural Silk Road Cash & Payments Conference in Almaty from 27-29 March.

To mark what would have been the 70th anniversary of the late Queen Elizabeth II’s coronation this year, the Pacific territory of Tokelau has issued three new commemorative coins.

Back by popular demand, the latest edition of The Directory of Currency & Technology Suppliers is now being compiled. This sought-after directory is an essential resource for central banks and issuers, printers and mints, and everyone in the cash cycle.

As 2023 begins, the US Mint has unveiled several coin designs and release schedules for the year and announced its final 2022 production figures.

The lack of facilities to deposit coins presents a significant barrier to an efficient cash cycle. So, it was good to hear of a new initiative from the National Bank of Poland, namely a coin deposit solution, presented at the Coin Conference.

In a fascinating presentation at the Coin Conference In Amsterdam last October, Anikó Bódi-Schubert of Magyar Nemzeti Bank told delegates about an ambitious programme that has brought coin collecting into the digital age.

The Royal Canadian Mint has announced the launch of a new numismatic coin collection to honour the life and reign of the late Queen Elizabeth II.

The Royal Mint’s luxury jewellery line 886 has already made the news with its recycling of gold found in electronic waste to create new wearable pieces. Now, in collaboration with precious metal experts Betts Metals, the brand is utilising discarded medical X-rays to create silver jewellery.

Registration is now open for the Mint Directors Conference 2023, which takes place later this year, 15-18 October in Ottawa, Canada.

Croatia joined the Eurozone on 1 January 2023, bringing the number of European Union member states using the single European currency to 20.

In this article, Nicola Sudan, Regional Director of Reconnaissance International, provides a viewpoint on the continuing usefulness of coins in South Africa.

The Coin of the Year (COTY) Awards have been held every year since 1984, with a panel of judges nominating ten coins in each of the ten award categories. From there, another panel of international judges review the nominees and select the category winners.

On 1 January 2023, and following a two-year break due to COVID, the Royal Australian Mint held its annual First Coin of the Year event at its facility in Canberra.