40 Facts About The Royal Mint

The Royal Mint: A Storied Institution

The Royal Mint, one of Britain’s oldest companies, has a history that spans over 1,100 years. From its early days in the Tower of London to its current home in Wales, it has played a crucial role in shaping the nation’s currency and economic history.

1. Location and History: The Royal Mint is currently located in Llantrisant, Wales, where it moved in 1968. It was previously located inside the walls of the Tower of London from 1279 to 1810.
2. Official Maker of Coins: The Royal Mint is the United Kingdom’s official maker of British coins. It operates under the legal name The Royal Mint Limited and is wholly owned by His Majesty’s Treasury.
3. Exclusive Contract: The Royal Mint has an exclusive contract to supply the nation’s coinage. This contract ensures that all circulating coins in the UK are produced by the Mint.

Beyond Coins: Precious Metals and More

The Royal Mint isn’t just about coins. It also deals in precious metals, creating a variety of products that go beyond everyday currency.

4. Precious Metal Products: In addition to minting circulating coins, The Royal Mint is a leading provider of precious metal products, including gold and silver bullion coins and bars.
5. Historical Significance: The Royal Mint has been central to the production of coins for the Kingdom of England, all of Great Britain, the United Kingdom, and nations across the Commonwealth.
6. Tower of London Era: During its time in the Tower of London, working conditions were hazardous, with many employees losing fingers or eyes due to the unsafe environment.

The Royal Mint Advisory Committee

The Royal Mint Advisory Committee plays a vital role in the design and study of coins in the UK.

7. Royal Mint Advisory Committee: The Royal Mint Advisory Committee promotes the study of coins in the UK and decides what designs will go on future coins. The committee typically consists of 12 members who ensure the designs are British and represent the values of the Mint.
8. Monarch Portraits: Traditionally, when a new monarch is appointed, their face appears on a new batch of coins but facing the opposite way to the previous monarch. However, there was one instance where two monarchs faced the same way on a coin: Edward VIII, who preferred his father George V’s side of his face.

International Reach and Historical Contributions

The Royal Mint’s influence extends far beyond the UK, with branches and contributions that have had a global impact.

9. Sydney Branch: In response to the Australian gold rush, the Royal Mint opened a satellite branch in Sydney in 1855. This branch was crucial in stabilizing the colony’s economy by providing legal tender coins.
10. Melbourne and Perth Branches: Following the success of the Sydney branch, similar branches were opened in Melbourne (1872) and Perth (1899). These branches eventually took over production responsibilities for Australia when the Sydney branch closed in 1926.
11. World War II Contributions: During World War II, The Royal Mint doubled its output to ensure people were paid with hard currency rather than banknotes. The Mint’s Deputy Master, John Craig, introduced measures to ensure operations could continue despite the threat of bombing.

Coin Production and Security

The Royal Mint produces billions of coins each year, ensuring they are secure and difficult to counterfeit.

12. Coin Production: On average, The Royal Mint produces two billion pound sterling coins for general circulation each year. This includes over 28 billion pieces circulating altogether in the UK.
13. International Services: The Royal Mint provides services to over 60 countries, producing national currencies or supplying ready-to-strike planchets. In 2015, it was estimated that 2.4 billion coins were minted for overseas countries, exceeding domestic coinage production and providing over 60% of the mint’s revenue from circulating currencies.
14. Commemorative Coins: The Royal Mint regularly produces commemorative coins for the collector’s market. These coins come in various precious metals and are designed to capture significant moments in history.
15. The £1 Coin Evolution: The modern £1 coin was introduced in 1983, with over 443 million coins minted that year. The first design featured The Royal Arms of the United Kingdom. The current 12-sided £1 coin, introduced in 2016, includes a hidden high-security feature to prevent counterfeiting and is considered the most secure coin in circulation today.
16. Security Features: The raised edges of coins prevent them from sticking together and protect the head and tail imagery. The 12-sided £1 coin also features a unique design that makes it difficult to counterfeit.

Notable Figures and Events

The Royal Mint has been associated with many notable figures and events throughout its history.

17. Sir Isaac Newton: Sir Isaac Newton was the warden of the Royal Mint for the last 30 years of his life. He was responsible for various minting procedures and acted as the immediate representative of the current monarch inside the mint. However, the role was abandoned in 1829.
18. Olympic Medals: All 4,700 Olympic and Paralympic medals for the London 2012 games were struck at The Royal Mint. The gold and silver medals weighed 412 grams each, while the bronze medal weighed 357 grams.
19. 1933 Penny: Only six or seven 1933 Pennies were made, but no detailed records were kept, so it’s unclear if all were accounted for. These coins are highly sought after by collectors due to their rarity.
20. Royal Maundy Coins: The Royal Mint still participates in the traditional activity of minting small silver coins that make up the money of Royal Maundy. This tradition dates back centuries and is an important part of British cultural heritage.

Commemorative and Collector’s Coins

The Royal Mint has a rich history of producing coins that commemorate significant events and figures.

21. Silver Jubilee Coin: The 1935 coin celebrating George V’s Silver Jubilee was the first coin designed to be a collector’s item. It marked a significant shift in the way coins were perceived and collected.
22. Commemorative Crowns: When Sir Winston Churchill died in 1965, The Royal Mint issued a commemorative crown coin that featured him alongside the monarch. This was the first time a ‘commoner’ had been on the same coin as that of a monarch.
23. Lifelike Portraits: Lifelike portraits were first used on British coins during the reign of Henry VIII. Prior to that, no attempt was made to capture the features of a monarch.
24. Public Toilets: The phrase ‘spend a penny’ originated from the need to pay one penny for the use of a public toilet, which started during the Great Exhibition of 1851.
25. Proof Coins: The Royal Mint produces proof coins, which are the highest standard of coin production. The next level down is the Brilliant Uncirculated standard.

Advanced Technology and Operations

The Royal Mint uses advanced technology and operates with high efficiency to produce its coins and precious metal products.

26. Coin Pressing Machine: The coin pressing machine has a 60-tonne striking pressure, making it one of the most advanced machines in the industry.
27. Furnace Operation: The furnace used to soften metal for coin production is operational for 8,568 hours a year and is only closed for the week over Christmas.
28. Denomination Value: If you add up the total value of each denomination in circulation today, it comes to £3.88.
29. Coin Circulation: In 1966, there were 4 billion coins in use, but by 2018, there were nearly 30 billion coins circulating in the UK.

Staff and Cultural Impact

The Royal Mint’s staff and its cultural impact are significant aspects of its long history.

30. Staff Experience: Twenty percent of The Royal Mint’s staff have worked there for over 25 years, demonstrating the longevity and stability of the institution.
31. Beatles Connection: In 1967, the Beatles released the single “Penny Lane/Strawberry Fields Forever,” which was accompanied by a music video featuring a scene with a penny lane sign.
32. Visitor Centre: The Royal Mint Experience, a popular visitor centre, opened in Llantrisant in 2016. It welcomes around 200,000 visitors annually and explores the 1,100-year history of coins.
33. Gold Bar Exhibition: For the 50th anniversary of the Llantrisant site, The Royal Mint Experience hosted a temporary exhibition featuring a gold bar that visitors could try lifting. The bar weighed 400 ounces and was worth £350,000.
34. Record Coin Production: In 2016, a new record was set when 4 million 12-sided £1 coins were struck in a single day.
35. Sir Winston Churchill Commemoration: The Royal Mint issued a commemorative crown coin after Sir Winston Churchill’s death in 1965, marking the first time a ‘commoner’ appeared on the same coin as a monarch.

Modern Innovations and Sustainability

The Royal Mint continues to innovate and focus on sustainability in its operations and products.

36. Historic Coin Designs: The Royal Mint has released various commemorative coins over the years, including those celebrating David Bowie, Winnie the Pooh, Decimalisation, and Team GB. Each coin is carefully struck up to three times to ensure a superbly detailed finish.
37. Digital Investment Options: The Royal Mint offers digital investment options such as DigiGold and Little Treasures, designed for children. These options provide customers with flexible and secure ways to invest in precious metals.
38. Precious Metals Division: The Royal Mint’s Precious Metals division has achieved record performance in recent years. This division focuses on producing high-quality bullion coins and bars, including the iconic Britannia coin range.
39. International Expansion: The Royal Mint is expanding its presence in international markets, particularly in the Asia Pacific region. It has introduced Britannia Bars in various weights and has seen strong demand from investors seeking trusted and liquid assets.
40. Sustainable Precious Metals: The Royal Mint is committed to sustainable precious metals practices. It is investing in innovative solutions to reduce its reliance on mined precious metals and championing British craftsmanship in the industry.

The Royal Mint’s Legacy

The Royal Mint’s journey from the Tower of London to Llantrisant, Wales, showcases its enduring significance. As the official maker of British coins, it has an exclusive contract to supply the nation’s coinage. Beyond coins, it produces precious metal products like gold and silver bullion. The Mint’s role in history, from the Tower of London era to World War II contributions, highlights its resilience. It serves over 60 countries, making it a global leader. Commemorative coins, like those for the London 2012 Olympics, add to its rich legacy. Innovations like the secure 12-sided £1 coin and digital investment options show its forward-thinking approach. With a commitment to sustainability and international expansion, The Royal Mint remains a vital part of British culture and economic heritage. Its blend of tradition and innovation ensures its continued relevance in the modern world.