The United Kingdom’s Royal Mint

The Royal Mint is one of the world’s leading mints, with the largest and most technically advanced minting facility across the globe; it is also the United Kingdom’s oldest company. As well as producing all the coins of the United Kingdom it has been trusted with developing currency for more than 30 countries around the world, making it the world’s leading export mint.

It is also one of the world’s oldest mints, having been established in AD 886, during the reign of Alfred the Great. At that time, there were about 30 mints in Britain and by the time of Aethelred II’s reign (AD 978-1016) the number had grown to more than 70, with many market towns having their own mint. 

By the 13^th Century, the numbers of mints has reduced, and in 1279 the country’s numerous mints were unified under a single system whereby control was centralized to the mint in London, which, by then, was situated in a secure location in the Tower of London. In 1669, a royal patent was issued that granted the mint the sole right to produce coins and medals of any metal that bore a monarch’s portrait, thus becoming “The Royal Mint”.

Located at a purpose-built site at Llantrisant, South Wales since 1968, The Royal Mint’s primary responsibility is to produce and distribute the coins of the United Kingdom. It is a highly sophisticated, government-owned company and plays an important role in the UK economy, as an employer, exporter, manufacturer and creative force. 

As well as producing over 400 million circulating coins for the UK, the Royal Mint mints more than 1 billion coins and blanks for other countries, which, in 2020/21 helped the company declare over 18 million pounds pre-tax profit. 
Unlike coins of the past, the majority of UK coins are produced using cupro-nickel, which is an alloy containing 75% copper and 25% nickel. This, though, does vary depending on the denomination, with, for example, 1p and 2p coins, previously in bronze, now produced in copper-plated steel.

Commemorative Limited Editions

The Royal Mint is also solely responsible for producing commemorative coins. In addition to popular Royalty and Military ranges, The Royal Mint has celebrated the lives of personalities, an eclectic selection that ranges from Sir Walter Scott and HG Wells, to pop music legends such as Queen, The Who, Elton John and David Bowie! For younger coin collectors, the company explores the prehistoric wonders of the dinosaurs with its Dinosauria Collection and also offers  ranges dedicated to some of the UK’s best-loved childhood characters, from vintage favorites to modern classics. Alice in Wonderland, The Tales of Peter Rabbit, Winnie the Pooh and The Snowman are particularly desired by younger enthusiasts.

Commemorative coins are also produced for special occasions including the 150-year legacy of the British Red Cross, Diversity Built Britain – a celebration of the enormous contribution people from all ethnic backgrounds have made to building Britain – and Britain’s withdrawal from the European Union in January 2020.

Rare Coins

The Royal Mint has been responsible for minting a number of rare and now-valuable coins over the years. These include:

1. 1917 George V Sovereign
   
   Gold coinage was a casualty of the First World War, becoming impractical to use in coin production, due to funds being needed for the war effort. Thus, gold sovereigns ceased to be issued for use in circulation, and production at The Royal Mint in London ceased in 1917. Many of the Sovereigns struck in that year were melted down and the gold sent to the United States to pay off war debt, but a number survived this fate. A dream for many numismatists, in mint condition it is now worth around  US$ 20,000
   
2. The Coinage of Edward VIII
   
   Edward VIII acceded to the throne early in 1936 but abdicated just 326 days later. As a result, no coins bearing his effigy were ever struck for circulation although a handful of trial and pattern pieces of the new monarch’s coins were made. The events that led up to the Abdication were very sensitive, and it was a shock to all, including The Royal Mint, when the King abdicated on 10th December 1936 – in fact production of the coinage of Edward VIII had been scheduled to start at 8.00 a.m. on 1st January 1937! The trial and pattern pieces were locked away for many years, and not treated as part of the Royal Mint Museum collection. Indeed, few people knew what had survived and it was not until 1970, when then Deputy Master, Sir Jack James, retired, that a sealed cardboard box retrieved from a safe in his office was found to contain 49 coins of Edward VIII. These were immediately transferred to the Museum, and remain on display to this day.
   
3. 1933 Penny 
   
   In 1933, UK banks possessed such large stocks of pennies that it was not necessary to strike any more for general circulation. However a convention at the time. that complete sets of coins of the current year were buried under the foundation stones of new buildings, meant that six 1933 pennies were struck – 3 for buildings erected in that year, with the remainder to be kept as record copies by the British Museum and the Royal Mint Museum.
   
   The coin’s fame though is that there are possible references to at least one other being made, which might have led to it dropping into general circulation, and, prior to decimalization in 1971, people avidly looked through their change in the hope of finding it!
   
4. Queen Anne Vigo Five-Guinea
   
   Made from gold bullion captured by the British fleet at the Battle of Vigo Bay in northern Spain on 23 October 1702, a handful of Vigo Five-Guinea coins were produced by The Royal Mint in 1703. In January 2019, one sold for US$ 1,080,000, higher than expected and a new world record for any British coin under the hammer.