Commodity Online
LONDON: Gold has emerged as the biggest winner during the recession and this has resulted in demand for gold coins soaring to unimaginable levels.

Following the never-ending rise in gold coin demand, UK’s Royal Mint has stepped up production of coins.

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The UK mint, which is based in Wales, used 75 per cent more gold in the opening three months of 2009 than it did a year previously. It produced 28,496 ounces of gold coins in the first quarter, compared to 16,317 ounces in the same period in 2008, while production last year also increased 30 per cent.

Royal Mint is the body permitted to manufacture, or mint, coins in the United Kingdom. The Mint originated over 1,100 years ago, but has functioned since 1975 as a Trading Fund, operating in much the same way as a government-owned company.

It now has executive agency status, and is currently undergoing the process of being converted into a government-owned business. The Royal Mint as a body reports to HM Treasury, though departmental day-to-day responsibilities are handled by the shareholder executive.


As well as minting coins for the UK, it also mints and exports coins to many other countries, and produces military medals, commemorative medals and other such items for governments, schools and businesses, being known as the world’s leading exporting Mint.

The Royal Mint began to move their operations from Tower Hill, London to Llantrisant, South Wales, in 1968 and has operated on a single site in Llantrisant, since 1980.

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