Mint (coin)
Encyclopedia
A mint is an industrial facility which manufactures
coin
s for currency
.
The history of mints
correlates closely with the history of coins
. One difference is that the history of the mint is usually closely tied to the political situation of an era. For example, when discussing the history of the New Orleans Mint
, the usage of that mint by the Confederate States of America
beginning in 1861 is a notable occurrence. The origins of the Philadelphia Mint
, which began operations in 1792 and first produced circulating coinage in 1793, are interwoven with the initiation of the Federal era of the United States
.
In the beginning, hammered coinage
or cast coinage
were the chief means of coin minting, with resulting production runs numbering as little as the hundreds or thousands. In modern mints, coin dies are manufactured in large numbers and planchet
s are made into milled coins
by the billions.
With the mass production of currency, the production cost is weighed when minting coins. For example, it costs the US Mint much less than 25 cents to make a quarter, and the difference in production cost and face value (called seigniorage
) helps fund the minting body.
s in ancient Rome
operated their own mints. Some of the earliest Greek mints were within city-states on Greek islands such as Crete
; a mint existed at the ancient city of Cydonia on Crete at least as early as the fifth century BC. Roman mints were spread widely across the Empire
, and were sometimes used for propaganda
purposes. The populace often learned of a new Roman Emperor
when coins appeared with the new Emperor's portrait
. Some of the emperors who ruled only for a short time made sure that a coin bore their image; Quietus
, for example, ruled only part of the Roman Empire from 260 to 261 AD, and yet he issued two coins bearing his image.
silversmith Marx Schwab invented coining with the screw press. Henry II of France
(reign 1547-1559) imported the new machines: rolling mill, punch and screw press. 8 to 12 men took over from each other every quarter of an hour to maneuver the arms driving the screw which struck the medals. Henry II came up against hostility on the part of the coin makers, so the process was only to be used for coins of small value, medals and tokens. In 1645 it came into general use for minting coins.
engineer Dietrich "Diedrich" Uhlhorn invented the Presse Monétaire (level coin press known as Uhlhorn Press) which bears his name. Uhlhorn invented a new type of minting press (steam driven knuckle-lever press) that made him internationally famous; over 500 of the units had been sold by 1940. The advanced construction of the Uhlhorn press proved to be highly satisfactory, and the use of the screw press for general coinage was gradually eliminated.
Manufacturing
Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...
coin
Coin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
s for currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
.
The history of mints
History of mints
The history of mints begins in the 7th century BC, when the first mint was likely established in Lydia for coining gold, silver and electrum. The Lydian innovation of manufacturing coins under the authority of the state spread to neighboring Greece, and from there spread to other areas of the...
correlates closely with the history of coins
History of coins
The history of coins extends from ancient times to the present, and is related to economic history, the history of minting technologies, the history shown by the images on coins, and the history of coin collecting. Coins are still widely used for monetary and other purposes.All western histories of...
. One difference is that the history of the mint is usually closely tied to the political situation of an era. For example, when discussing the history of the New Orleans Mint
New Orleans Mint
The New Orleans Mint operated in New Orleans, Louisiana, as a branch mint of the United States Mint from 1838 to 1861 and from 1879 to 1909. During its years of operation, it produced over 427 million gold and silver coins of nearly every American denomination, with a total face value of over...
, the usage of that mint by the Confederate States of America
Confederate States of America
The Confederate States of America was a government set up from 1861 to 1865 by 11 Southern slave states of the United States of America that had declared their secession from the U.S...
beginning in 1861 is a notable occurrence. The origins of the Philadelphia Mint
Philadelphia Mint
The Philadelphia Mint was created from the need to establish a national identity and the needs of commerce in the United States. This led the Founding Fathers of the United States to make an establishment of a continental national mint a main priority after the ratification of the Constitution of...
, which began operations in 1792 and first produced circulating coinage in 1793, are interwoven with the initiation of the Federal era of the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
.
In the beginning, hammered coinage
Hammered coinage
Hammered coinage is the most common form of coins produced since the invention of coins in the first millennium BC until the early modern period of ca...
or cast coinage
Cast coinage
Cast coinage refers to coins made by pouring melted metal into a mold, i.e. casting. It has been used for regular coins, particularly in the Far East, but also on a smaller scale. The method differs from the current mode of coin production, which is done by striking coin blanks that have been cut...
were the chief means of coin minting, with resulting production runs numbering as little as the hundreds or thousands. In modern mints, coin dies are manufactured in large numbers and planchet
Planchet
A planchet is a round metal disk that is ready to be struck as a coin. An older word for planchet is flan. They are also referred to as blanks.-History:The preparation of the flan or planchet has varied over the years...
s are made into milled coins
Milled coinage
In numismatics, the term milled coinage is used to describe coins which are produced by some form of machine, rather than by manually hammering coin blanks between two dies or casting coins from dies.-History:The earliest machine known for producing coins is the screw press, invented by Leonardo...
by the billions.
With the mass production of currency, the production cost is weighed when minting coins. For example, it costs the US Mint much less than 25 cents to make a quarter, and the difference in production cost and face value (called seigniorage
Seigniorage
Seigniorage can have the following two meanings:* Seigniorage derived from specie—metal coins, is a tax, added to the total price of a coin , that a customer of the mint had to pay to the mint, and that was sent to the sovereign of the political area.* Seigniorage derived from notes is more...
) helps fund the minting body.
Ancient mints
A number of city-stateCity-state
A city-state is an independent or autonomous entity whose territory consists of a city which is not administered as a part of another local government.-Historical city-states:...
s in ancient Rome
Ancient Rome
Ancient Rome was a thriving civilization that grew on the Italian Peninsula as early as the 8th century BC. Located along the Mediterranean Sea and centered on the city of Rome, it expanded to one of the largest empires in the ancient world....
operated their own mints. Some of the earliest Greek mints were within city-states on Greek islands such as Crete
Crete
Crete is the largest and most populous of the Greek islands, the fifth largest island in the Mediterranean Sea, and one of the thirteen administrative regions of Greece. It forms a significant part of the economy and cultural heritage of Greece while retaining its own local cultural traits...
; a mint existed at the ancient city of Cydonia on Crete at least as early as the fifth century BC. Roman mints were spread widely across the Empire
Roman Empire
The Roman Empire was the post-Republican period of the ancient Roman civilization, characterised by an autocratic form of government and large territorial holdings in Europe and around the Mediterranean....
, and were sometimes used for propaganda
Propaganda
Propaganda is a form of communication that is aimed at influencing the attitude of a community toward some cause or position so as to benefit oneself or one's group....
purposes. The populace often learned of a new Roman Emperor
Roman Emperor
The Roman emperor was the ruler of the Roman State during the imperial period . The Romans had no single term for the office although at any given time, a given title was associated with the emperor...
when coins appeared with the new Emperor's portrait
Portrait
thumb|250px|right|Portrait of [[Thomas Jefferson]] by [[Rembrandt Peale]], 1805. [[New-York Historical Society]].A portrait is a painting, photograph, sculpture, or other artistic representation of a person, in which the face and its expression is predominant. The intent is to display the likeness,...
. Some of the emperors who ruled only for a short time made sure that a coin bore their image; Quietus
Quietus
Titus Fulvius Iunius Quietus was a Roman usurper against Roman Emperor Gallienus.Quietus was the son of Fulvius Macrianus and a noblewoman, possibly named Iunia...
, for example, ruled only part of the Roman Empire from 260 to 261 AD, and yet he issued two coins bearing his image.
Notable mints
- Austrian MintAustrian MintThe Austrian Mint , is located in Vienna. It issues every year the Vienna Philharmonic bullion coin, one of the most popular bullion coins in the world.- History :...
- established in 1397 and produces the Vienna Philharmonic gold bullion. - Perth MintPerth MintThe Perth Mint is Australia's oldest currently operating mint ....
(AustraliaAustraliaAustralia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
) - Royal Mint of the United Kingdom
- Royal Australian MintRoyal Australian MintThe Royal Australian Mint is situated in the Australian federal capital city of Canberra, in the suburb of Deakin.Before the opening of the mint, Australian coins were struck at branches of the Royal Mint - the Sydney Mint, Melbourne Mint and Perth Mint. The Royal Australian Mint holds a place in...
- Casa de Moneda de MéxicoMexican MintThe Casa de Moneda de México is the national mint of Mexico and the oldest mint in the Americas, established in 1535.Since 1983, coins are only produced in San Luis Potosí in Mexico and the main client is the Banco de México...
, established in 1535, is the oldest mint in the AmericasAmericasThe Americas, or America , are lands in the Western hemisphere, also known as the New World. In English, the plural form the Americas is often used to refer to the landmasses of North America and South America with their associated islands and regions, while the singular form America is primarily...
. - Casa da Moeda de PortugalCasa da Moeda de PortugalThe Imprensa Nacional Casa da Moeda , is the Portuguese mint and national press, owned by the Portuguese Government and administratively subordinated to the Portuguese Ministry of Finance.-History:...
- Casa da Moeda do BrasilCasa da Moeda do BrasilThe Casa da Moeda do Brasil is the Brazilian mint, owned by the Brazilian government and administratively subordinated to the Ministry of Finances. It was established in 1694...
- Royal Canadian MintRoyal Canadian MintThe Royal Canadian Mint produces all of Canada's circulation coins, and manufactures circulation coins on behalf of other nations. The Mint also designs and manufactures: precious and base metal collector coins; gold, silver, palladium, and platinum bullion coins; medals, as well as medallions and...
- Japan MintJapan MintThe is an Incorporated Administrative Agency of the Japanese government. This agency has its Head office in Osaka with branches in Tokyo and Hiroshima.-History:...
- Joachimsthal Royal Mint, Czech RepublicCzech RepublicThe Czech Republic is a landlocked country in Central Europe. The country is bordered by Poland to the northeast, Slovakia to the east, Austria to the south, and Germany to the west and northwest....
, (Jáchymovská královská mincovna in Czech languageCzech languageCzech is a West Slavic language with about 12 million native speakers; it is the majority language in the Czech Republic and spoken by Czechs worldwide. The language was known as Bohemian in English until the late 19th century...
) - Monnaie de ParisMonnaie de ParisThe Monnaie de Paris or, more administratively speaking, the "Direction of Coins and Medals", is an administration of the French government charged with issuing coins as well as producing medals and other similar items. Many ancient coins are housed there...
(France) - India Government MintIndia Government MintThe India Government Mint operates four mints in the country for the production of coins. They are located at:* Mumbai, Maharashtra* Kolkata, West Bengal* Hyderabad, Andhra Pradesh* Noida, Uttar Pradesh...
- Currency CentreCurrency CentreThe Currency Centre is the mint of coins and printer of banknotes for the Central Bank of Ireland, including the euro currency. The centre is located at Sandyford, Dublin, Ireland. The centre does not print the complete range of euro banknotes...
, IrelandIrelandIreland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth... - Istituto Poligrafico e Zecca dello StatoIstituto Poligrafico e Zecca dello StatoThe Italian Istituto Poligrafico e Zecca dello Stato , founded in 1928, is situated at the Piazza Giuseppe Verdi in Rome...
, "Printer Institute and State Mint", ItalyItalyItaly , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
, the first mint to produce bi-metallic coinsBi-metallic coinsBi-metallic coins are coins consisting of more than one metal or alloy, generally arranged with an outer ring around a contrasting center. Common circulating examples include the €1, €2, British £2, Canadian $2, South African R5, Turkish 1 lira, and all Mexican coins of $1 or higher...
in recent times - Saint Petersburg MintSaint Petersburg MintSaint Petersburg Mint is one of the world's largest mints. It was founded by Peter the Great in 1724 on the territory of Peter and Paul Fortress, so it is one of the oldest industrial enterprises in Saint Petersburg....
(Russia) - Royal Dutch MintRoyal Dutch MintThe Koninklijke Nederlandse Munt , seated in Utrecht, the Netherlands, is a company owned entirely by the Dutch State, and since 1807 the only Dutch entity allowed to strike and give out coins.-History:...
- Singapore MintSingapore mintThe Singapore Mint was founded in 1968, after the independence of Singapore from Malaysia. It is a government company responsible for making the currency of Singapore and keeping it from being counterfeited. It has outlets in Orchard Road, where they sell special numbered banknotes and coins. The...
- Kremnica mintKremnica mintThe Kremnica Mint , is a state-owned mint situated in Kremnica, Slovakia. The Mint of Mincovňa Kremnica, š.p. was established in 1328, and for nearly seven centuries it has continuously been producing mint articles.-History:...
, Slovak Republic, (Mincovňa Kremnica in Slovak languageSlovak languageSlovak , is an Indo-European language that belongs to the West Slavic languages .Slovak is the official language of Slovakia, where it is spoken by 5 million people...
), established in 1328 is one of the oldest continuously-operating mints. - Fábrica Nacional de Moneda y Timbre, SpainSpainSpain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
- Birmingham MintBirmingham MintThe Birmingham Mint, a coining mint, originally known as Heaton's Mint or Ralph Heaton & Sons, in Birmingham, England started producing tokens and coins in 1850 as a private enterprise, separate from, but in cooperation with the Royal Mint. Its factory was situated in Icknield Street , on the edge...
(United KingdomUnited KingdomThe United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
) - SwissmintSwissmintSwissmint is the official mint of the Swiss Confederation. It is responsible for manufacturing Swiss franc coins, both of the currency and bullion variety. Apart from making coins for the government, Swissmint also manufactures medals and commemorative coins for private customers.Swissmint is an...
, SwitzerlandSwitzerlandSwitzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition.... - Soho MintSoho MintSoho Mint was created by Matthew Boulton in 1788 in his Soho Manufactory in Handsworth, West Midlands, England. A mint was erected at the manufactory containing eight machines, driven by steam engine, each capable of striking 70 to 84 coins per minute....
(United Kingdom) - Dahlonega MintDahlonega MintThe Dahlonega Mint was a branch of the United States Mint. It was located at 34°31.8′N 83°59.2′W at Dahlonega, Lumpkin County, Georgia. Coins produced at the Dahlonega Mint bear the "D" mint mark. That mint mark is used today by the Denver Mint, which opened many years after the Dahlonega Mint...
(United States of America) - Franklin MintFranklin MintThe Franklin Mint is a private corporation founded by Joseph Segel in 1964. The private mint operated from Wawa, Pennsylvania but that operation has now closed...
(United States of America) - United States MintUnited States MintThe United States Mint primarily produces circulating coinage for the United States to conduct its trade and commerce. The Mint was created by Congress with the Coinage Act of 1792, and placed within the Department of State...
Coin production by screw press (since about 1550)
Around 1550 the GermanGerman inventors and discoverers
This is a list of German inventors and discoverers. The following list comprises people from Germany or German-speaking Europe, also of people of predominantly German heritage, in alphabetical order of the surname. The main section includes existing articles, indicated by blue links, and possibly...
silversmith Marx Schwab invented coining with the screw press. Henry II of France
Henry II of France
Henry II was King of France from 31 March 1547 until his death in 1559.-Early years:Henry was born in the royal Château de Saint-Germain-en-Laye, near Paris, the son of Francis I and Claude, Duchess of Brittany .His father was captured at the Battle of Pavia in 1525 by his sworn enemy,...
(reign 1547-1559) imported the new machines: rolling mill, punch and screw press. 8 to 12 men took over from each other every quarter of an hour to maneuver the arms driving the screw which struck the medals. Henry II came up against hostility on the part of the coin makers, so the process was only to be used for coins of small value, medals and tokens. In 1645 it came into general use for minting coins.
Coining by lever press
Between 1817 and 1830 the GermanGermans
The Germans are a Germanic ethnic group native to Central Europe. The English term Germans has referred to the German-speaking population of the Holy Roman Empire since the Late Middle Ages....
engineer Dietrich "Diedrich" Uhlhorn invented the Presse Monétaire (level coin press known as Uhlhorn Press) which bears his name. Uhlhorn invented a new type of minting press (steam driven knuckle-lever press) that made him internationally famous; over 500 of the units had been sold by 1940. The advanced construction of the Uhlhorn press proved to be highly satisfactory, and the use of the screw press for general coinage was gradually eliminated.
See also
- List of Mints
- Branch mintBranch mint-United States:The original and main Mint of the United States Mint, has been located in Philadelphia , since 1793. Its current facility, Philadelphia's fourth, opened in 1969.U.S...
- Master of the MintMaster of the MintMaster of the Mint was an important office in the governments of Scotland and England, and later Great Britain, between the 16th and 19th centuries. The Master was the highest officer in the Royal Mint. Until 1699, appointment was usually for life. Its holder occasionally sat in the cabinet...
- MünzmeisterMünzmeisterIn medieval and early modern Germany, the Münzmeister was the director or administrator of a mint, a moneyer with responsibility for the minting of coins, or specie. His duties were defined differently at different locations and ages.-Middle ages:The need for currency was relatively low during...
- Mint-made errorsMint-made errorsMint-made errors are errors in a coin made by the mint during the minting process. Mint error coins can be the result of deterioration of the minting equipment, accidents or malfunctions during the minting process, or intentional interventions by mint personnel...
- German inventors and discoverersGerman inventors and discoverersThis is a list of German inventors and discoverers. The following list comprises people from Germany or German-speaking Europe, also of people of predominantly German heritage, in alphabetical order of the surname. The main section includes existing articles, indicated by blue links, and possibly...