The Coin Conference takes place in Lisbon, from 28-30 October, against a backdrop of considerable change in the world of circulating coinage (no pun intended). Not surprisingly, the agenda is busy and full of substance, reflecting the key challenges, and opportunities, that face issuers and producers.
The conference starts with two workshops.
The first – ‘That was Then, This is Now – the New Priorities for Coin Issuers’ – is for central banks and coin issuers. It is a continuation of the workshop held at The Coin Conference in 2017, where the then MDC Technical Committee Customer Taskforce, led by Dieter Merkle of Schuler, brought together national authorities (central banks and finance ministries/ treasury departments) to discuss and identify their key priorities for circulating coins. Participants from 23 different countries were asked to rank these priorities in terms of public perception, seigniorage, security, trust, attractiveness, innovation and obligation – with a survey at the start and end of the workshop resulting in a surprising shift of views.
This workshop will examine what has happened since then, and whether the global pandemic, geopolitical and economic turmoil, and the rise of digital payments have changed the perception and priorities of national authorities towards cash and coins. If so, how, and to what extent? And what does this mean for issuing departments, producers, and others in the cash cycle?
The Taskforce (now under the auspices of the International Mint Industry Association and still led by Dieter Merkle) will revisit the attributes of coins, involving national authorities in discussion and debate about the importance of coins and ensuring that their changing priorities (if, indeed, these have changed) are understood and acted upon by all those in the coin cycle.
The second workshop – ’Commemorative Coins for an International and a Domestic Market’ – will be led by Ursula Kampmann of FAMA and CoinsWeekly.
There is a large and growing market for commemorative coins, both domestically and internationally, that not only celebrate cultural attributes, special events and achievements, but also anchor the value of coins in public consciousness and generate revenues for issuing authorities and mints. At least, that’s the theory. But whilst some commemorative coin issues are spectacular successes, others flop. To avoid this, it is essential to choose themes and motifs that will resonate with collectors. But how to do this, is the key question.
This workshop is aimed at central banks and mints that are considering producing and distributing commemorative coins commercially. It is about the rules they need to know to enter an international market. In particular, when it comes to the choice of themes and motifs, different markets have different preferences and, above all, different taboos.
In this workshop, participants will work together to identify the most important markets and connect these with the most popular motifs involved, learning about how the collector market works, how to avoid intercultural sensitivities and differences, new techniques for commemorative coins, and what it takes to offer coins that are interesting to collectors.
The main programme, taking place on Tuesday 29 and Wednesday 30 October, will be formally opened by the Bank of Portugal and is divided into seven sessions:
The agenda will conclude with a panel discussion – ‘Coins in 2035 – What Will the Industry Look Like?’ – led by Simon Lake, formerly of The Royal Mint and now an advisor to the Mint of Poland.
The first session, ‘Setting the Scene’, will comprise a series of presentations on The Circulating Coin Landscape (Currency Publications); Cash, Cryptos, CBDC: What is Money? (Monnaie de Paris); Analysis of Legislation in Favour of Cash (International Mint Industry Association); Coin Usage in Countries with High Inflation (FMA Secure); and Recent Coin and Currency Matters: A European Perspective.
Given that one of the most urgent issues for central banks and treasuries as regards circulating coins is getting them to circulate effectively once issued, rather than disappearing from circulation, leading to artificial shortages and high replacement costs, two sessions will be dedicated to Circulation, from the issuer and market perspectives, respectively.
The former session will hear from the Federal Reserve Financial Services (FedCash Services), European Commission, Bank of Portugal, and Bangko Sentral ng Pilipinas.
The latter will hear from companies involved in technologies and programmes to facilitate coin recirculation and repatriation, including Brinks, Crane Payment Innovations, Global Coin Solutions, Leftover Currency, and Proditec.
The theme of circulation, aligned to recycling and end of life coins, continues into the next session on Sustainability, with speakers from the UK’s CIEC, Arrandene, M-One, and the European Mint Directors Working Group, who will give an update on a research study they are conducting on the environmental impact of cash versus digital payments.
Participants will also hear from the Royal Canadian Mint, Schuler, Carveco, Spaleck, ACSYS Lasertechnik, IQ Structures, Inorcoat, Mint of Poland, and INCM, in what promise to be two fascinating sessions on production and innovation, with some of the topics being presented for the first time.
The penultimate session – Around the World in 80 Minutes – will hear about coin programmes and initiatives in Pakistan, Austria, Spain, Canada, and Morocco.
Following the conference, there will be a tour (for central banks and coin issuers) of the Portuguese Mint (INCM), the honorary sponsors of the conference, along with Valora, the Portuguese state banknote printers. Those unable to take part in the tour will still have the opportunity to visit INCM earlier in the programme, as they are hosting the welcome reception at the start of the conference.
Other events include the presentation of the IACA Excellence in Currency Awards 2024 and dinner on the evening of 29 October. Following the conclusion of proceedings on 30 October, the customary Coin Conference Football Match, sponsored by M.One, will take place, to which all are invited (as players and/or spectators).
The Coin Conference focuses specifically on circulating coins as part of countries’ currency strategies and normally attracts an audience of around 200, divided equally between issuers (central banks), mints, and suppliers. With the current focus on circulation and sustainability, and the recent changes among suppliers, this conference comes at a critical time for issuers and producers alike in debating the future of circulating coins.
