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.
This year saw the continuation of these trends, particularly as mints and industry actors look to improve the way they produce coins and other numismatic products more sustainably, launch new services to improve coin distribution, and work in partnership to consider new processes and develop new technologies.
Next year will likely see further development of the above, particularly as several countries update their coinage in terms of design and security, but in the meantime, we have summarised this year’s news below.
Royal Australian Mint (RAM) strikes the first coin of the year, as part of its series showcasing deep sea creatures; 39th Coin of the Year award winners announced; Croatia joins the eurozone, with good planning leading to a smooth transition; The Royal Mint (TRM) appoints a new Assay Master and makes use of old medical X-ray films to create silver jewellery; Bangko Sentral ng Pilipinas conducts its first ‘Piso Caravan’ – a currency exchange programme replacing unfit money and depositing the equivalent amount in e-wallets; Royal Canadian Mint (RCM) honours the late Queen Elizabeth II with a new numismatic range featuring a special tribute obverse design; People’s Bank of China celebrates Lunar New Year, the Year of the Rabbit, and its first space station.
Reserve Bank of India launches pilot of QR code-based coin vending machines to improve coin distribution; National Bank of Ukraine’s ‘30th Anniversary of Ukraine’s independence’ 5 hryvnia silver coin is voted overall winner in the Coin of the Year awards; World Money Fair’s 19th Technical Forum returns as a live event in Berlin; the International Mint Industry Association hits the ground running with its official launch at the World Money Fair; RAM confirms the use of two effigies for its coinage transition; annual UK Trial of the Pyx marks the first time in several decades that coins bearing effigies of two monarchs were assessed at the same time; RAM wins Worldstar Packaging Award for its sustainable standard proof coin box made from moulded plant fibre; the Federal Reserve raises allocation limits for nickels, dimes, and quarters, marking the third time in six months it has done so; the Public Health Agency of Canada distributes COVID-19 commemorative coins to thank its healthcare workers; TRM releases first individual collectable featuring King Charles III.
Federal Reserve continues to report $1 coin surplus; Coin & Mint News considers whether cashless machines are convenient or exclusionary; the Cayman Islands plan for new coins featuring the new King; the Central Bank of Curaçao and St Maarten confirms introduction of new Caribbean guilder in the second half of 2024; the Royal Dutch Mint’s (RDM) parent company, Royal United Mint, acquires the oldest private mint in the US, Osborne Coinage; the US Mint begins its AWQ 2023 programme; the Isle of Man releases a collection of coins to commemorate King Charles III's coronation.
Latvijas Banka makes it easier for Latvians to deposit coins with relocation of Cashier’s Offices and updated processing; US Mint reports near record production levels; Turkey reduces the size of lira coins; Coiniverse develops new coin scanner; Numindex, a new ‘stock index’ for numismatic coins, is launched; Texas proposes a gold-backed digital currency; Mint of Poland expands its gold investment products sales network; RAM partners with Australian veteran service Legacy to mark its centenary; Croatia issues its first euro numismatic coins.
South Africa issues its new coin series with the theme of ‘Deep Ecology’, the first coin redesign in 34 years; RCM wins IACA ‘Best New Coin’ award for its $2 coin with a black outer ring issued in memory of the late Queen Elizabeth II; King Charles III distributes Maundy money for the first time as monarch; RCM chosen to supply new Caribbean guilder coins; De Nederlandsche Bank completes the move to its new cash centre; Monnaie de Paris unveils Rugby World Cup 2023 medals, utilising recycled mobile phone components in production; Estonia releases €2 circulating coin dedicated to its national bird, the barn swallow; Central Bank of Azerbaijan introduces investment coins for the first time; India launches coin commemorating new Parliament building; Monnaie de Paris releases collection commemorating the tenth anniversary since the legalisation of same-sex marriage and adoption in France; Denmark issues updated 20 krone coins featuring a new effigy of Queen Margrethe II; RDM produces 50 glass enamelled silver coins to celebrate 50 years of the Van Gogh Museum.
BSP launches coin deposit machines, aiming to promote efficient coin recirculation in the country; Casa da Moeda do Brasil announces plans to launch a gold traceability platform; US Mint production exceeds 1.4 billion coins; Florida ends 30 day bullion sales waiting period; IPZS appoints a new President and a new managing director; new managing director confirmed for the World Money Fair event; Zimbabwe resorts to specie coins amidst 175% inflation; RCM celebrates indigenous art and cultures with new circulating $2 coin; Latvia issues sunflower commemorative to support Ukraine; Swissmint celebrates 175 years of modern Switzerland.
TRM reports success of its diversification plan; US Mint unveils designs for 2024 AWQ programme and Harriet Tubman bicentennial commemorative coin programme; Mint of Finland signs new contract for production and supply of Colombian coins; Isle of Man opens consultation on the future of low denomination coins; Bulgaria agrees on designs for new euro coins; TRM launches Local Energy Centre; RAM celebrates the Matildas, co-host (and later semi-finalists) of the 2023 FIFA Women’s World Cup, with coloured coins; Spain commemorates its EU Council Presidency role with new €2 circulating commemorative coin.
Coin of the Year 2023 award winners announced, with the Austrian Mint scooping the top prize for its €20 silver ‘The Black Hole’ coin; Coiniverse becomes an independent startup; King Charles III coronation coin enters circulation; RAM and Australian strike force unveil coin scam; US Mint production exceeds 7.4 billion coins; Estonia’s coin circulation up by 55%; Danmarks Nationalbank announces closure of coin webshop; IQ Structures expands its IQ Mint offering; RAM celebrates 50 years of the iconic Sydney Opera House; Jovita Idar AWQ coin sales exceed 2.5 million coins; South African Mint releases the final coin in the Big 5 Series II, the Buffalo.
Crown Coin commemorates late Queen Elizabeth II with one of the most expensive coins ever produced, featuring 6,426 GIA certified hand-placed diamonds and eleven 24 carat gold coins; TRM celebrates King Charles III coronation anniversary with a range of bullion bars; Eesti Pank launches a coin collection campaign; US Mint consults the public on designs commemorating 250th anniversary of the Declaration of Independence; Isle of Man continues to consult on its currency, this time on updating the £1 coin and coin designs; Europol publishes threat assessment report, notes that counterfeit threat has reduced despite a rise in the number of counterfeit euro coins; Croatia issues its first commemorative circulating €2 coin; Czech Mint releases Czech lion coins, featuring IQ Mint holographic technology; RAM celebrates ‘Aussie Big Things’ and its World Heritage sites; Azerbaijan updates it 5 qepik coin with new design; Malta and RDM partner to produce colourful coin celebrating EuroPride Valletta 2023.
Minting for the future at MDC 2023 in Ottawa, as the industry event utilises innovative technology and an immersive programme to gather together delegates from mints and the wider industry; TRM unveils new designs for the UK’s new definitive coins, which pay tribute to the conservation of the natural world; a new association for mints is born, as the Mint Directors Association is formally announced; RAM unveils the new royal effigy for its circulating coinage; RCM partners with aXedras for gold traceability; Pobjoy Mint announces it closure; US Mint unveils AWQ 2025 honourees; MDC Awards receive a record number of entries; RAM annual report notes a solid year, despite challenges; Slovakia issues latest €2 circulating commemorative, marking the bicentennial of its horse-drawn express postal service; RCM issues its second single mine gold bullion coin; new £5 coin pays tribute to Crimean era nurse and entrepreneur Mary Seacole.
CashTech Innovation awards commend the Donation Dollar, which has influenced an incremental $58 million in additional donations since its launch; Morocco issues new coin series, with each coin featuring a different theme or value important to the country; RCM unveils new circulating coin effigy; new UK coins enter circulation; TRM produces new commemorative made from silver recovered from old X-ray film, announces new precious metals partnership with Japan’s Nihon Material Co; US Mint holds special striking ceremony for Harriet Tubman $1 commemorative; new leaders for South African Mint, SPMCIL, and Gold Corporation; Belgium marks women’s suffrage anniversary with commemorative €2 coin; RDM releases ‘Free a Girl’ coincard, featuring its first ever NFT, to support a charitable organisation fighting for a world without child exploitation; Banco de Portugal and INCM issue ‘A Coin for Peace’; Kazakhstan marks 30 years of the tenge; RAM honours the second Elizabethan era with a highly popular 50 cent collectable.
The majority of Europeans support current coins, although a similar percentage support the withdrawal of 1 and 2 cent coins; the global debate over low denomination coins continues and whilst the Isle of Man says no change to its small change, the Falkland Islands conducts public consultations on the matter; Coin & Mint News reviews the year, with many of last year’s trends continuing into 2023 and likely further; new Caribbean guilder coin samples are approved; Egypt gets its first gold ATM; TRM partners with FinTech Wales and the University of Hull for support in digitisation and sustainability plans, respectively; Italy dismantles a counterfeit euro coin syndicate; RCM holds coin exchanges for its updated circulating coins featuring the new royal effigy; new Australian coins, also featuring an updated effigy, enter circulation; Lithuania urges caution over gold purchases; Pobjoy Mint produces its final coin; Monnaie de Paris marries the modern and mechanical with Gustave Eiffel coin featuring an NFC chip; IPZS releases its annual numismatic series, featuring two commemorative €2 coins.
We look forward to covering other trends – emerging or continuing – in 2024. Until then, we wish you all the best for the coming holiday season, and a very Happy New Year.