Mint (coin)

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For other uses, see Mint (disambiguation).
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A mint is an industrial facility which manufactures coins for currency.

The history of mints correlates closely with the history of coins. One difference is that the history of the mint is normally related in a fashion that more closely ties 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 often related within the political context of the time.

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 planchets 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.

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[edit] Ancient mints

A number of city-states in ancient Greece operated their own mints. Some of the earliest Greek mints were within city states on Greek islands such as Crete; for example an early mint existed at the ancient city of Cydonia on Crete at least as early as the fifth century BC.[1] Roman mints were spread widely across the Empire, and 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 several coins bearing his image.

[edit] Notable mints

[edit] Gallery showing hammered coin production [4]

A furnace for producing molten metal for coin production.
A trussell for use with a pile in producing hammered coins as shown by the moneyer at work.
A mill for the production of 'milled' coins with both coin dyes illustrated.
A mill for inscribing or milling the edges of coin flans or planchets.


[edit] References

  1. ^ C. Michael Hogan, Cydonia, The Modern Antiquarian, Jan. 23, 2008 [1]
  2. ^ Joint Standing Committee on Public Works, Proposed Refurbishment of the Royal Australian Mint Building, Canberra [2]
  3. ^ History of the Kremlica Mint[3]
  4. ^ Cochran-Patrick, R. W. (1876), Records of the Coinage of Scotland. Pub. Edmonston and Douglas, Edinburgh.

[edit] See also

[edit] External links