Striking of coins

NACE code 32.11 covers the striking of coins, a critical industry that plays a vital role in the global economy. As the primary means of producing legal tender currency, the striking of coins is essential for facilitating financial transactions and supporting economic activity across various sectors. This industry's importance extends beyond its direct contribution, as the coins it produces are fundamental to the smooth functioning of national and international trade.

The striking of coins involves a multi-step manufacturing process. First, metal blanks are produced from raw materials such as gold, silver, or base metals. These blanks are then fed into high-precision minting machines that stamp the desired designs and inscriptions onto the coin surfaces. Advanced techniques, including die casting and computer-controlled minting, ensure the consistent quality and accuracy of the final products.

The striking of coins industry relies on a range of inputs, including precious and base metals, specialized minting equipment, and skilled labor. Minting facilities require advanced machinery, such as high-speed presses, coining dies, and quality control systems, to ensure the efficient and accurate production of coins. Additionally, the industry employs specialized technicians and engineers to operate and maintain the equipment, as well as to design and develop new coin designs and security features.

The primary output of the striking of coins industry is, of course, the coins themselves. These coins are then distributed to 64.11 Financial service activities, except insurance and pension funding and 66.19 Other activities auxiliary to financial services, except insurance and pension funding, where they are used as legal tender for various financial transactions. The coins produced by this industry also serve as collectibles and investment assets, catering to the 47.78 Other retail sale of new goods in specialised stores and 64.20 Activities of holding companies sectors.