Striking of coins

NACE code 32.11 covers the striking of coins, a critical industry that plays a vital role in the global economy. Coin production is a highly specialized process that involves the minting of legal tender currency, commemorative coins, and other numismatic items. This industry is essential for maintaining the stability and integrity of national and international financial systems, as well as supporting the growth of the collectibles market.

The striking of coins typically involves several key steps. First, the raw metal, such as gold, silver, or base metals, is procured and refined to the desired purity. The metal is then cast into blank planchets, which are circular discs of uniform thickness and weight. These planchets are then struck between two dies, one on the obverse and one on the reverse, to imprint the desired designs and inscriptions. The struck coins are then inspected, packaged, and distributed for circulation or collection.

The main inputs required for the striking of coins include the raw metal, such as gold, silver, copper, or alloys; specialized minting equipment, including presses, dies, and other machinery; and skilled labor to operate the production process. Additionally, the industry relies on advanced technologies, such as computer-aided design and precision engineering, to ensure the consistent quality and security features of the final products.

The primary output of the striking of coins industry is legal tender currency, which is essential for facilitating financial transactions and supporting the broader economy. Additionally, this industry produces commemorative and collector's coins, which are valued for their numismatic and artistic qualities. The outputs of the striking of coins industry are often consumed by 64.19 Other monetary intermediation, 47.78 Other retail sale of new goods in specialised stores, and the numismatic collector market.