Latest News

John Winchcombe

3 May 2023

4 min read

Has the Penny Had its Day?

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?

Circulating Coins Free Free

Astrid Mitchell

3 May 2023

3 min read

A Solution in Sight to the Continuing Rise in US Coin Costs

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.

Circulating Coins Studies, Reports

Astrid Mitchell

3 May 2023

3 min read

Latvian Central Bank Makes It Easier to Deposit Coins

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.

Central Bank Circulating Coins

Alex Sadler

3 May 2023

4 min read

News in Brief

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

Metals News Technology

Alex Sadler

3 May 2023

4 min read

New Commemorative Coins

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.

Commemorative Coins News

Alex Sadler

3 May 2023

9 min read

Royal Canadian Mint – Looking to the Future of Coins

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.

Interviews

John Winchcombe

3 May 2023

4 min read

RCM’s Active and Busy ESG Agenda

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.

Studies, Reports Sustainability

David Tidmarsh

3 May 2023

3 min read

US Mint Reports Near Record Production Levels

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

Mints Studies, Reports

John Winchcombe

3 May 2023

4 min read

Finnish Mint’s Approach to Social Responsibility

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.

Mints Studies, Reports Sustainability

Alex Sadler

4 April 2023

4 min read

News in Brief

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.

News

Astrid Mitchell

4 April 2023

2 min read

The Essential Role of Coins in Payments

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.

Events

John Winchcombe

4 April 2023

3 min read

Safeguarding Cash: ICA Recommendations to Central Banks

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.

Studies, Reports

Alex Sadler

4 April 2023

4 min read

New Coin Issues

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.

Circulating Coins Commemorative Coins News

Jon Cameron

4 April 2023

5 min read

US Mutilated Coin Program

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.

Cash Cycle

David Tidmarsh

4 April 2023

6 min read

World Money Fair Technical Forum Review: Part 2

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.

Events Technology

John Winchcombe

4 April 2023

5 min read

Mexico to Optimise its Coin Range

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.

Central Bank Circulating Coins

Alex Sadler

4 April 2023

4 min read

IACA 2023 Coin Award Finalists Announced

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.

Events

Astrid Mitchell

4 April 2023

2 min read

New Owner for Osborne Coinage

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.

Companies

Astrid Mitchell

4 April 2023

3 min read

Mixed Picture for Mints’ Annual Results

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.

Mints Studies, Reports

Alex Sadler

4 April 2023

3 min read

Cashless Machines: Convenient or Exclusionary?

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.

Editorial Free Free