Government Mints Around the World that Produce Coins and Bullion

For as long as humans have existed in this world in some form of organized society, there has been some type of currency that has allowed financial transactions to take place.  Societies need an economic system to function properly and no economy works without a form of currency.  Currency has taken different forms throughout history, but societies since ancient times have been using printed bills and coins as their main form of currency.  In these ancient societies as well as today, the currency is mostly printed by government-controlled mints.

Today there are 91 mints throughout the world that print official currency, coins, bullion coins, and in some cases unmarked bullion bars.  Some of these mints have been in operation for more then a thousand years such as the Monnaie de Paris in France while others have been in operation for less than 20 years such as the Zimbabwean Mint.  Most mints around the world are state owned but there are some that are private, including three private mints here in the United States.

In this guide, we will delve into the history of government mints, explain the types of currency and coins they produce, and describe the biggest and most famous mints around the world.  At PGS Gold & Coin, we are enthusiasts when it comes to coins and bullion and the mint where they are produced can have an affect on their value.  If you have gold coins or bullion that you would like to have appraised by professionals, you can bring them to PGS Gold & Coin to get an accurate appraisal and cash on the spot.

History of Government Mints

Government owned mints first appeared in ancient Lydia (modern day Turkey) around 600 BC, the same time that the first coined currency was developed.  The use of state printed coins as currency became popular very quickly and the nearby societies of Greece and Persia soon picked up the practice and started making their own currency at state-controlled mints.  The Roman Empire was the first society to mint coins for trade and they set up mints throughout their territory to help with their transactions with other regions.

Coins made prior to the 16th century were minted in one of two ways, either by casting or hammering.  Cast coins were made using molds in which a metal in its liquid state was poured into the mold to shape it into a coin.  Hammered coins were made by placing metal between two dies and striking one of the dies to pound the image into both sides of the coin.  During the 16th century, a machine was developed to make what are referred to as milled coins.  The machines made it easier to make coins of better quality and produce a higher volume of coins than can be done with casting and hammering.   Coins are still made using machines, though the technology of these machines has advanced significantly since their introduction.

What is a Government Mint?

A government mint is a facility that prints currency and coins for a nation’s central bank.  Most mints are owned by the government that they print currency for and some mints are privately owned and have the authority from the central bank to print currency on its behalf.  While the main purpose of government mints is to print currency used by the population, they also print commemorative coins, gold and silver bullion coins, collectible coins, and bullion bars.  These items give coin collectors and bullion investors more options when looking to build their coin collections or invest in precious metals like gold and silver.

What do Government Mints Produce?

Government mints are tasked with printing circulating coins and paper currency used in everyday transactions.  They may also produce other types of coins such as bullion coins, collectible coins, and bullion bars.  The following is a list of the items produced by mints around the world:

• Circulating coins: These are coins that are circulated and used by the population for purchases and other financial transactions. In the U.S., this includes pennies, nickels, dimes, and quarters.
• Bullion coins: These are coins made purely of precious metals such as gold, silver, platinum, and others. While these coins are considered legal tender, they are not used for transactions and are typically purchased as an investment in the precious metal.  The weight and purity of the metal content determines the value of these coins which often exceeds its face value.
• Brilliant uncirculated (BU) coins: Brilliant uncirculated coins are coins that were originally printed for circulation but were not put into circulation. This happens when coins are put into storage or reserve immediately after leaving the mint.  BU coins have retained 95 percent of their original luster and design from being held out of circulation and they are sought after by coin collectors.
• Proof coins: These coins are made from high quality precious metals and special dies with fine detail. The dies used to print proof coins are carefully inspected and cleaned to ensure fine detailing and the coins are struck multiple times.  Proof coins are also finely polished and are highly sought after by coin collectors.
• Certified Coins: Certified coins are graded by internationally recognized certification companies such as the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGS). These companies assign a grade, or quality rating, to coins based on five key characteristics; surface, strike, luster, preservation, and eye appeal.  The grades are given in the form of a number between 1 and 70; 1 is given to coins in poor condition while 70 is given to coins in mint condition.
• Collectible Coins: Collectible coins are special edition coins with designs that commemorate important historical figures and events. These coins typically include high purity precious metals and more luster and glimmer than most coins.  They are also printed in limited editions, making them very valuable to coin collectors.
• Government mint bullion: Some mints, such as the Perth Mint in Australia and the Royal Canadian Mint, produce bullion bars of precious metals such as gold, silver, and platinum.