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“MINT’S主厨便当”商业模式拆解及投资建议
变革家投研社，相信结社研究的力量！变革家在股权众筹项目拆解的基础上，把拆解领域扩大到整个早期项目市场。本期变革家分析师@胥扬 为您拆解的项目是一个“精选品质外卖平台”项目――MINT"S主厨便当。　　一、融资信息　　项目名称：MINT"S主厨便当　　融资阶段：天使轮　　二、公司及创始人介绍　　MINT"S是采用Munchery+Gilt+Enjoy模式的精选外卖平台，与全球FINE-DINNING星级主厨合作体系，研发高颜值菜品，同时采用先进的低温烹饪手法提升口感。目前与三家上海本地有机农场合作，制定全年种植计划，每日凌晨新鲜配送蔬果，保证营养搭配。多主厨合作出品和高档餐厅的[精选外卖菜单]丰富了菜品的多样性。订餐系统可追溯来源食材信息、营养配比、主厨背景等，也提供订阅服务。自开发系统，数据引导决策；使用团队协同系统，多人参与“建立-实施-优化”的标准化流程，并采用科学包装降低配送外力影响，配送时效高。　　周思铭 - 创始人。曾联合创办线上餐饮支付社区；合创办品质旅行服务平台；任职GM华东区，太美集团；能源系统工程师，上海交通大学EMBA在读。　　邵旭斐 - 联合创始人。连续创业者，传统餐饮运营10年，做过律师，曼彻斯特大学MBA。　　三、创业故事　　据易观智库数据，外卖市场2015年交易额450余亿，其中饿了么、美团、百度外卖分别以33.7%、33.1%、19%的市场份额三分天下。此外，击中懒人+食品安全的痛点，做独立品牌的外卖还有优粮生活、笨熊造饭、百米厨房、 舌头很忙，Kao！烤肉饭等等。这样的情形下，外卖领域的机会在哪？　　Mints创始人Isabelle认为，“巨头关注的是市场，高端品质定位的竞争格局尚未形成，所有玩家都还在摸索和尝试。”　　主打新兴中产的生活方式的Mints，将消费频次较高的午餐场景作为第一个切入点。模式上，Mints现阶段对标的Munchery，将中心化的中央厨房和去中心化的餐厅合作厨房结合起来。　　“在一线城市，有很多体验型的餐厅，人均在300-800元。这些餐厅多在晚市营业，厨房白天处于闲置的状态。”这些餐厅不开放午市的主要原因在于白领很少会选择在午餐时间花费300-800元去品味一顿耗时2-3个小时的美味，而开放午市会使餐厅的人力成本翻一倍。　　将厨房闲置的产能利用起来，听起来是个不错的主意，但实现起来却并不容易。厨房设计和菜品息息相关，不同菜系之间利用闲置厨房的程度不同。Isabelle举例说，一家菜几乎无法利用一家小龙虾店的闲置厨房。　　目前，Mints已和11家顶级餐厅达成合作意向。 Isabelle表示，Mints和餐厅的合作并不局限于闲置厨房空间的使用。一方面，Mints协助餐厅开发主菜单以外的“午市精选外卖菜单”，在Mints线上平台进行销售。另一方面，餐厅提供厨房小块区域，用于Mints自营产品线最后一道工序的装配。此外，餐厅还可作为Mints前端装配的中转点。　　Mints建有自营产品线，同时签约了8位欧洲星级餐厅主厨，来扩充菜品品类。相较于1个主厨1个菜系的传统餐厅或外卖品牌，Mints认为不同主厨的创意使菜品更加丰富。浏览Mints本季菜单，有低温烤春鸡、羽衣甘蓝有机蜜桃沙拉、日本松仁烤味增南瓜等11款单品和6款主厨套餐，每两周会有菜品更新。在菜单界面，用户不仅能够看到菜品的图片和价格，还能看到主厨背景、食材来源和营养配比详情。价格上，平均客单价在78元左右。　　在供应链端，Mints和3家本地有机农场合作“全年种植计划”。主厨们根据本地农场的种植计划，预先进行不同时令菜单的设计。Mints当前仅支持提前一天预订，为上海内环内区域提供配送服务。　　根据Mints提供的数据，当前平台用户数5000人。上线2个月的时间，在仅开放3公里内的区域中，月复购率已达53%，每周订购3次以上的用户占22%。　　（该部分整理自36Kr）　　四、商业模式拆解　　关于MINT"S，变革家做了一个关于它商业模式的比较直观的图表。在这里变革家有必要在跟投研社成员解读一下整个模式。　　从上述图表里，可以清晰的看到MINT"S的商业逻辑。　　第一，MINT"S与星级主厨联合参与研发菜品，由中央厨房完成初加工，再由优质签约餐厅完成最后工序，配送到食客手上。　　第二，和签约餐厅联合研发餐厅菜品，并将菜品上到MINT"S订餐平台上，让食客选择，并配送。　　从MINT"S的业务上来看，其实和之前的“大师之味”极为相似，都是和星级主厨合作进行菜品研发，配送便当的模式。大师之味之所以会死，是非餐饮行业的人来运营餐饮的事情，遇到的坑比较多，从运营到中央厨房建设等等，压死它最后一根稻草是刚建好不久的中央厨房因为房东原因被迫撤出。但是不可否认的是，大师之味在消费者口碑里还算不错的，价格偏高也有很大的消费市场。还有一点，就是运营的因素，大师之味之所以保持比较高的口碑，是因为菜品的不断变化和出新，总会有新的菜品研发出来，满足更多的人口味，并且打出了限量牌。　　(未完)　　温馨提示欢迎您来到中国首家“股权交易”“决策参考”平台变革家！投资需谨慎，决策先看变革家！　　以下内容为增值内容，需要VIP权限才可以查看。　　变革家努力为VIP会员：（1）穷尽融资项目；（2）大幅节省项目筛选时间；（3）缓解投资决策纠结症。升级VIP会员!　　风险提示：1.变革家平台决策参考仅代表作者个人意见。2.作者掌握信息可能并不全面，如果您掌握更多信息欢迎留言沟通。3.股权投资风险极高，决策请谨慎！　　版权声明：本研究报告版权归“变革家”独家所有，仅供变革家会员和变革家读者交流使用。任何未经变革家“书面授权”的“全部或部分转载行为”都将侵害变革家的商业权益。商业合作请联系： ,微信公众号：变革家网 。
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举报邮箱：From Wikipedia, the free encyclopedia
The Royal Mint is a government-owned mint that produces coins for the United Kingdom. Operating under the name Royal Mint Ltd, the mint is a
that is wholly owned by
and is under an exclusive contract to supply all the nation's coinage. As well as minting circulating coins for use domestically and internationally, the mint also produces , , various types of
. The mint exports to an average of 60 countries a year, making up 70% of its total sales. Formed over 1,100 years ago, the mint was historically part of a series of mints that became centralised to produce coins for the , all of
and eventually most of the . The original London mint from which the Royal Mint is the successor, was established in 886 AD and operated within the
for approximately 800 years before moving to what is now called
where it remained until the 1960s. As Britain followed the rest of the world in
its currency, the Mint moved from London to a new 38 acres (15 ha) plant in ,
where it has remained since.
In 2009 after recommendations for the mint to be privatised the Royal Mint ceased being an executive government agency and became a
wholly owned by . Since then the mint has expanded its business interests by reviving its bullion trade and developing a ?9 million visitor centre.
The history of coins in
can be traced back to the second century BC when they were introduced by
tribes from across the . The first record of coins being minted in Britain is attributed to
tribes such as the
who around 80–60 B.C. imitated those of
instead of . After the
began their
in AD 43, they set up mints across the land, including in
which produced
for some 40 years before closing. A mint in London reopened briefly in 383 AD until closing swiftly as
came to an end. For the next 200 years no coins appear to have been minted in Britain until the emergence of
in 650 AD when as many as 30 mints are recorded across Britain with one being established in London. Control of Britain's mints alternated as different tribes battled over territory. In 886 AD
recaptured London from the
and began issuing silver pennies
this is regarded as the start of the continuous history of the Royal Mint.
The Tower of London 1647
In 1279, the country’s numerous mints were unified under a single system whereby control was centralised to the mint within the , mints outside of London were reduced with only a few local and episcopals continuing to operate.
detailing the financial records of the London mint show an expenditure of ?729 17s 8 1/2 d and records of timber bought for workshops.
Individual roles at the mint were well established by 1464. The master-worker was charged with hiring engravers and the management of , while the
was responsible for witnessing the delivery of dies. A specialist mint board was set up in 1472 to enact a 23 February indenture which vested the mint's responsibilities i a , a
and a .
In the 16th century having suffering from the effects of the , mainland
was in the middle of a ,
however was suffering with financial difficulty brought on by excessive government spending. By the 1540s wars with
which saw the amount of precious metal in coin significantly reduced. In order to further gather control of the country's currency,
were dissolved which effectively ended major coin production outside of London.
In 1603, the
under King
led to a partial union of both countries' currencies, the
and the . Due to Scotland heavily debasing its silver coins, a Scots mark was worth just 13.5d compared to an English mark which was worth 6s 8d. To bridge the difference between the values, unofficial supplementary , often made from
were made by unauthorised minters across the country. By 1612 there were 3,000 such unlicensed mints producing these tokens, none of whom paying anything towards the . The Royal Mint, not wanting to divert manpower away from minting more profitable
and , hired outside agent
who under licence started issuing
in 1613. Private licenses to mint these coins were revoked in 1644 which led traders to resume minting their own supplementary tokens. In 1672 the Royal Mint finally took over the production of copper coinage.
Civil War half-crown
Prior to the outbreak of the , England signed a treaty in 1630 with
which ensured a steady supply of silver
to the . Additional branch mints to aid the one in London were set up including one at , in . In 1642
seized control of the Tower mint and after
tried to arrest the
he was forced to flee London, establishing at least 16 emergency mints across the
in , , , , , , , parts of
including , , , , , ,
(see also ).
After raising the royal standard in
marking the beginning of the war, Charles called upon
mining engineer , the owner of a mint and silver mine in , to move his operations to the royalist-held , possibly within in the grounds of . The mint there was however short-lived, operating for no more than three months before Charles ordered Bushell to relocate the mint to his headquarters in the royal capital of . The new Oxford mint was established on 15 December 1642 in
at , the present site of . There, silver plates and foreign coins were melted down and in some cases just hammered into shape to produce coins quickly. Bushell was appointed the mint's warden and master-worker, where he laboured alongside notable engravers ,
and , the later of whom being appointed Graver of Seals, Stamps and Medals in 1643. When
took control of Oxford that same year, Bushnell was ordered to move to
where he continued minting coins until it fell to parliamentary control on 11 September 1645, effectively ending Bushnell's involvement in the civil war mints.
In Southern England in November 1642 the king ordered royalist
to build one or more mints in
where he was instructed to mint coins from whatever bullion that could be obtained and deliver it to , a commander of royalist troops in the region. Vyvyan built a mint in
and became its Master until 1646 when it was captured by . In nearby
which had been under control of
since the beginning of the war, a mint was ordered to be set up after parliament debated the proposal on 8 December 1642. After approval was granted, a mint and moneyers were dispatched on 8 December 1642 to the town which was under constant threat of attack by
troops. In September 1643 the town was captured by the
leading to Vyvyan moving his nearby mint in
to the now recaptured town. The exact location of the mint in
is unknown, however maps from the time show a street named Old Mint Lane near Friernhay which was to be the site of a
mint. Much less is known about the mint's employees with only Richard Vyvyan and clerk Thomas Hawkes recorded.
Commonwealth
1658 Cromwell
Following Charles I's execution in 1649, the newly formed
established its own set of coins which for the first time used
rather than
and were plainly designed compared to those previously issued under the . The government invited French engineer
who worked at the
to come to London in 1649 in hope of modernising the country's minting process. In France
had been banned from the
since 1639 and replaced with
coinage. After arriving, it wasn't until 9 May 1651 that his testing began in , having first required permission from parliament. He initially produced milled silver
however rival moneyers favouring hammer stuck coins continued using the old hammering method. In 1656
ordered engraver
to cut a series of dies featuring his
and for them to be minted using the new milled method. Few of Cromwell's coins entered circulation with Cromwell himself dying in 1658 and the Commonwealth collapsing two year later. Without Cromwell's backing of milled coinage,
returned to France leaving England to continue minting hammer struck coins.
In 1662, after previous attempts to introduce
into Britain had failed, the restored monarch
to establish a permanent machine-made coinage. Despite the introduction of the newer, milled coins, like the old
they suffered heavily from counterfeiting and . To combat this the text Decus et tutamen (An ornament and a safeguard) was added to some coin rims.
Following the
of 1688, which saw the ousting of
from power, parliament took over control of the mint from the
which had up until then allowed the mint to act as an independent body producing coins on behalf of the government.
Under the patronage of ,
became the mint's
in 1696. His role, intended to be a , was taken seriously by Newton, who went about trying to combat the country's growing problems with counterfeiting. By this time, forgeries accounted for 10% of the country's coinage,
was commonplace and the value of silver in coins had surpassed their .  initiated the
whereby all coins were removed from circulation and enacted the
to own or possess
equipment. Satellite mints to aid in the re-coinage were established in , , , , and , with returned coins being valued by weight, not .
united England and Scotland into one country, leading London to take over production of Scotland's currency and thus replacing Scotland's
with the English
which caused the Edinburgh mint to eventually close on 4 August 1710. As
continued to expand, so to was the need to supply its coinage. This along with the need for new mint machinery and cramped conditions within the , led to plans for the mint to move to nearby .
Johnson Smirke Building in 2007
Located opposite from the Tower of London on Tower Hill, the new purpose-built mint began construction in 1805 and was completed by 1809. However it was not until 1812 that the move became official, when keys from the old mint were ceremoniously delivered to the Constable of the Tower. Facing the front of the site stood the Johnson Smirke Building whose
comes from its designer James Johnson and builder . This building was flanked on both sides by gatehouses behind which another building housed the mint's new machinery. A number of other smaller buildings were also erected which housed mint officers and staff members. The entire site was protected by a boundary wall which was patrolled by the Royal Mint’s military guard.
By 1856, the mint was beginning to prove inefficient, suffering from irregularities in minted coins' fineness and weight. Instructed by
, the Master of the Mint
was informed that unless the mint could raise its standards and become more economical it would be broken up and placed under management by contractors. Graham sought advice from German chemist
who in turn recommended his student
as being able to resolve the mint's issues. In a letter to the treasury dated October 29, 1856, Ansell was put forward as candidate and subsequently was awarded the role of temporary clerk on 12 November 1856 with a ?120 a year salary.
Upon taking office, Ansell discovered that the weighing of metals at the mint was extremely loose. At the mint it had been the custom to weigh silver to within 0.5 ounces and gold to a pennyweight (0.05 ounces), however these standards meant losses were being made from overvalued metals. In one such case Ansell delivered 7920.00 ounces of gold to the mint where it was weighed by an official at 7918.15 ounces, a difference of 1.85 ounces. Requesting a second weighing on more accurate scale, the bullion was certified to weigh 7919.98 ounces, far closer to the previous measurement which was off by 960 . To increase the accuracy of weights, more precise weighing equipment was ordered and specifications were revised to 0.10 ounce for silver and gold to 0.01oz. Between 1856 and 1866 the old scales were gradually removed and replaced with ones made by Messrs. De Grave, Short, and F winners of a
prize award for work relating to .
Another observation Ansell made was the loss of gold during the manufacturing process. He found that 15-20 ounces could be recovered through the sweep, that is the leftover burnt rubbish from the minting process which was often left in open boxes for many months before being removed. Wanting to account for every particle, he hypothesised that because the
meant it was physically impossible for gold to just disappear he put down the lost weight to a combination of ,
and different types of foreign matter amongst the gold.
In 1859, the Royal Mint rejected a batch of gold that was found to be too brittle for the minting of gold sovereigns. Analysis revealed the presence of small amounts of ,
and . With Ansell's background in , he persuaded the Royal Mint to allow him to experiment with the
and was ultimately able to produce 167,539 gold . On a second occasion in 1868, it was again discovered that gold coins, this time totalling ?500,000 worth, were being produced with inferior gold. Although the standard practise at the mint was for rejected coins (known as brockages) to be melted down, many entered general circulation and the mint was forced to return thousands of ounces of gold to the . Although Ansell offered to re-melt the substandard coins, his offer was rejected causing a row between him and senior mint chiefs which ultimately led to him being removed from his position at the mint.
Gold Melting Process (1870)
After relocating to its new home on Tower Hill, the Mint came under increased scrutiny of how it dealt with unrefined gold that had entered the country. Initially the
was responsible for overseeing the practise since the position's inception in the 1300s, however the refinery process proved too costly and suffered from a lack of accountability from the master. A
later set up in 1848 to address these issues gave recommendation for the refinery process to be
to another external agency thereby removing the refining process from the mint's responsibilities. The opportunity to handle in Mint's refinery was taken up by , a descendant of the
and heir to the
company . Rothschild secured a lease from the government in January 1852, purchasing equipment and a premise adjacent to the Royal Mint on 19 Royal Mint Street. Under the name of Royal Mint Refinery
Royal Mint, Sydney in 1888
As Britain's influence as a
expanded, with colonies being established abroad, a greater need for currency led to the Royal Mint opening satellite branches of itself overseas. In , the local Legislative Council petitioned the UK government to establish a branch of the Royal Mint in
(t) after prospector
discovered gold in ,
in 1851. The petitioned gain
in 1853 and plans were made by the Deputy Master of the Royal Mint in London to open the Royal Mint's first overseas branch within the colony. The Royal Mint’s Superintendent of Coining travelled to Australia to oversee its establishment on
within the southern wing of
were it opened in 1854. Its success led to the opening of t on 2 June 1872 which cost ?368,350 and
which opened on 20 June 1899. In 1926 after operating for 72 years, the t closed due to its inferior technology and capabilities being superseded by those in Melbourne and Perth. After
in 1901, Great Britain continued to own the mints to as late as 1 July 1970, when they became statutory authorities of the .
In , which had been under
since 1763, British coins circulated alongside those of other nations until 1958 when London started producing coins for the newly established . As Canada developed, in 1890 calls were made for a mint to be built in
to facilitate the country's gold mines. The new mint opened on 2 January 1908 by
producing coins for circulation including
In 1931 under the , the mint came under the control on the
and subsequently renamed the .
Hong Kong silver dollar (1867)
A fifth branch of the Royal Mint was established in
on 21 December 1917 as part of a wartime effort. It struck sovereign from 15 Aug 1918 til 22 Apr 1919. before closing in May 1919. A sixth and final overseas mint was established in the
on 1 January 1923, producing ?83,114,575 worth of
of its lifetime. As South Africa began cutting ties with Britain, the mint closed on 30 June 1941 only to be later reopened as the .
Although just six mints were officially controlled by London's Royal Mint, many more independent mints were set up to facilitate parts of the . In ,
led to a mint was setup in 1862 under Governor
were it produced a few gold and silver coins before being shut down in 1862 to aid the city of
in becoming the regions . On 26 February 1864 an Order of Council requested for the founding of independent mint () in
to issue silver and bronze coins. This mint was short lived however due to its coins being heavy debasement causing significant losses. The site was sold to
in 1868 and the mint machinery sold to the Japanese Mint in .
$1 and $2 coins are minted by the Royal Mint in the United Kingdom. The 10 cent, 20 cent and 50 cent coins are minted by the Royal Canadian Mint. Other mints the Bank has used over time include: the Royal Australian Mint, Norwegian Mint and the South African Mint Company. The F4 Coin mintings data has details about the number and value of coin mintages.
In 1914 as war broke out in Europe,
instructed for gold coins to be removed from circulation so as to help pay for the war effort. The government started to issue ?1 and 10 shilling treasury notes as replacement waving the way for Britan leaving the gold standard in 1931.
Engraving room at the Royal Mint in 1934
During World War II the Mint played an important role in ensuring that people were paid for their services with
rather than banknotes. Under , the
planned to collapse the
by flooding the country with forged notes leading the
to stop issuing banknotes of ?10 and above. To meet these demands the Mint doubled its output so that by 1943 it was minting around 700 million coins a year despite being under constant threat of being bombed. The Deputy Master of the Mint John Craig recognised the dangers to the Mint, introduced a number of measures to ensure the Mint could continue to operate in the event of a disaster. Craig added emergency water supplies, reinforced the Mint's basement to act as a
and even accepted employment of women for the first time. For most of the war the mint managed to escape the destruction of
until December 1940 when three members of staff were killed in an . Around the same time an auxiliary mint was set up at
which had been requisitioned for the war effort. Staff and machinery from Tower Hill were moved to the site in
were it started production in June 1941 and operated for the duration of the war. Over the course of the war the Royal Mint was hit on several different occasions and at one point was put out of commission for three weeks. As technology changed with the introduction of electricity and demand continuing to grow, the process of rebuilding continued so that by the 1960s little of the original mint remained, apart from Smirke's 1809 building and its gatehouses at the front.
On 1 March 1966 the government announced its intention for the pound to be
which would require a large-scale withdrawal and minting of millions of new coins, this, as well as commitments to overseas customers, meant the mint was to be faced with a heavy workload. Lack of space at the mint and with
looming it became apparent that the mint needed to again relocate to a larger site. With a degree of urgency plans were made in April 1967 for a new site to be built outside of London, although over twenty sites were considered the small
located ten miles (16 km) north-west of
was chosen Up until now improvements at the Tower Hill mint had cost ?800,000.
Royal Mint in
Work on the new mint began in August 1967 with the construction of a
treatment plant and plant for striking. This first phase of the mint was officially opened on 17 December 1968 by the royal attendance of ,
and their son . Originally there were fears that the Royal family would face protests bec however, such protests failed to materialise. The second phase of construction began in 1973 and included the addition of a means to mint coins from virgin metals completing the full minting process. Upon completion the final cost for the land, buildings and plant came to ?8 million. Coin minting and production gradually shifted to the new site over the next seven years until the last coin, a gold sovereign, was struck in London in November 1975. In an attempt to consolidate all previous coin-related acts, the
was passed, which among other things effectively abolished the individual role of . Under this act, the
took over the role, with a Deputy Master being appointed by the
to exercise all the powers and duties of the Master within the mint.
After moving to Wales, the mint struggled to become profitable as the Western world fell into a
during the early 1970s. To combat a rising national debt, the mint was established as a
on 1 April 1975 which required it to become self-financing. This measure proved successful and the mint started to become profitable through heavy exports.To allow for more financial freedom and better management the mint became an Executive Agency in April 1990.
During the , a
costing ?500 billion was announced to help stabilise Britain's banking system. This led to fear that the government would attempt to finance the cost by selling off state-owned organisations. In a 2009 pre-budget report the ,
stated that the treasury would "explore the potential benefits of alternative future models for the Royal Mint". A month later in his
he recommended that the mint be made a company with a view of it being sold. The decision was met with outrage by unions and opposition parties in parliament who called it the "selling off the family silver" and that it would result in jobs losses. In contrast, the chief executive of the mint Andrew Stafford welcomed the decision stating that it would lead to further growth and secure the future of the business. On 31 December 2009, rather than being fully privatised, the mint ceased to be an
and its assets vested in a , Royal Mint Ltd. The owner of the new company became The Royal Mint trading fund, which itself continued to be owned by . As its sole shareholder the mint pays an annual dividend of ?4 million to treasury with the remaining profits being reinvested into the mint. In 2015
announced a ?20 billion
drive to raise funds with the Royal Mint being up for sale alongside other institutions including the
With its new found financial freedom the Mint begun diversifying their product range through expanding to offer items outside their usual coin-related merchandise. By the early 2000s the Mint was selling different types of jewellery, commemorative plates and figurines, eventually creating its own Royal Mint Classics range of collectable goods. This part of the business proved popular in attracting new customers however suffered from poor product development. Example of its products included a
with an embedded , an
clock combined with a , and a
plate featuring . In 2007 the Mint decided to resume its focus on coins, downsizing non-coin related business and discontinuing its Classics range.
2012 Olympic Medal made by the Mint
After London was selected to host the , the Royal Mint successfully won its bid to manufacture the games' . 4,700 gold, sliver a bronze medals were produced by the Mint with each medal being struck 15 times with 900 tonnes of force.
Olympic Medal Specifications
Gold Medal
Silver Medal
Bronze Medal
Composition
1.34% Gold
93% Silver
93% Silver
97% Copper
In addition to securing the medal product contract, the mint held a competition to design a series of commemorative
that would enter general circulation prior to the event. The Mint received over 30,000 entries with a further 17,000 from a children's competition on . In all, a total of 29 designs featuring a sport were selected by the Mint, with the youngest designer being just 9 years old. A ?2 coin commemorating London's handover to Rio was also released in 2012.
In April 2014 the mint announced plans for the development of a visitor centre in Llantrisant were member of the public could take part in a guided tour the facility and learn about the mint's history. The development's contract, estimated to be worth ?7.7 million was awarded to construction firm ISG and design consultant Mather & Co who had previously designed the , as well as handful of visitor attraction for a sporting clubs including , ,
and the . To fund the development, a grant of ?2.3 million was provided by the
towards the attraction which aimed to attract 200,000 visitors a year to the area. By May 2016, two years after its announcement the now named Royal Mint Experience opened to the public at a final cost of ?9 million. Included in the visitor centre an interactive museum, a view onto the factory floor, an education centre and a press whereby visitors can strike their own souvenir . On display at the centre are more than 80,000 artefacts, including , a pattern coin of , a
and a selection of .
In the same month the mint took in 48 tonnes of silver recovered from the shipwreck of the
which was used to produce limited edition coins.
In 2015, after nearly 50 years, the mint began producing its own line of
under its revived Royal Mint Refinery brand. Then in 2016, the mint announced plans for
to trade and invest in . Operated by , the technology is to be created by technology companies
and . The system currency which was due to launch in 2017 will be on the , whereby one RMG token equates to 1 gram of physical gold held within in a Royal Mint vault. Up to $1 billion worth of RMG is set to be issued by the mint.
As the sole body responsible for minting
coins in the United Kingdom under contract from , the mint produces all of the country's physical currency apart from banknotes which are printed by the . On average it produces 2 billion
coins struck for general circulation every year with an estimated 28 billion pieces circulating altogether. Outside of the UK, the mint provides services to over 60 different countries including New Zealand and many
nations in the form of producing national currencies or supplying ready to strike . In 2015 it was estimated that 2.4 billion coins were minted for overseas countries outweighing that of domestic coinage and providing over 60% of the mint's revenue from circulating currencies. The sale of commemorative coins also form part of the mint's operations with coins of varying quality and made of different precious metals released yearly for the collector's market.
Coins minted (billion)
United Kingdom
International
Royal Mint Refinery Seal
Another important operation performed by the mint which contributes to half the mint's revenue is the sale of
to investors or general members of the public in the form of
or . Historically the mint has refined its own metal, however under the advice of an 1848 Royal Commission the process was separated with the independent Royal Mint Refinery being purchased and operated by
in 1852. The
family continued the refinery's management until it was sold to
in 1967, a year later the Royal Mint relocated to Wales and ceased their bullion bar interests until reviving the brand in 2015. Bullion bars produced by the mint are stamped with the original Royal Mint Refinery emblem and come in a range of different sizes.
Bullion bars
Minting of bullion coins began in 1957 to meet a demand for authentic
which suffered from heavy counterfeiting. Coins were released almost every year alongside
versions up to 1982 when production was discontinued. In 1987 the mint started to produce a new type of bullion coin, the 1oz
coin which was gold and had a face value of ?100. A silver version with a face value of ?2 was also released in 1997. Production of the previously discontinued sovereign and half sovereigns resumed in 2000. In 2014 a lunar coin series begun being minted annually in celebration of
and in 2016 a series featuring
Bullion coins
Face Value
One Ounce Silver
One Ounce Gold
Two Ounce Silver
One Ounce Gold
One Ounce Platinum
One Ounce Silver
One Ounce Gold
One Ounce Silver
On occasion, the mint produces medals for government departments and under private contract for clients such as Royal societies, colleges and universities. Most notably the mint has made
medals as well as many military honours including the
for the . For the
the mint won a contract to produce 4,700 gold, silver and bronze medals for competitors.
Prior to 1851, the making of medals at the mint was at the discretion of engravers who could undertake the work independently and receive and additional wage. A Royal patent which was issued in 1669 granted the mint the sole right to produce medals of any metal which bore a portrait of a monarch. Engravers would use the facilities at the mint to make commemorative medals to their own design for sale. A key date in the mint's history of producing medals for the military is 1815 when the
marked the beginning of awarding military campaign medals. By 1874 the mint was responsible for making all bars and clasps for war medals in the country and was making campaign medals such as the , the
At the start of the , military medals were manufactured by the
and private contractors, however in 1922 a new medal unit created by the mint became the sole manufacturer of all Royal and State medals and decorations in metal, except the
which is made by . Prior to 2010, all British military medals were made by the mint however now must compete with other manufacturers.
is the procedure in the United Kingdom for ensuring that newly-
conform to required standards. The trials have been held since the twelfth century, normally once per calendar year, and continue to the present day. The form of the ceremony has been essentially the same since 1282. They are
in the full judicial sense, presided over by a judge with an expert jury of . Since 1871, the trials have taken place at the Hall of the , having previously taken place at the . Given modern production methods, it is unlikely that coins would not conform, although this has been a problem in the past as it would have been tempting for the
to steal .
The term "Pyx" refers to the
chest (in , πυξ??, pyxis) in which coins were placed for presentation to the jury. There is also a Pyx Chapel (or Pyx Chamber) in , which was once used for secure storage of the Pyx and related articles.
Coins to be tested are drawn from the regular production of The Royal Mint. The Deputy Master of the Mint must, throughout the year, randomly select several thousand sample coins and place them aside for the Trial. These must be in a certain fixed proportion to the number of coins produced. For example, for every 5,000 bimetallic coins issued, one must be set aside, but for silver
the proportion is one in 150.
The trial today consists of an inquiry independent of the royal mint
The jury is composed of
of the , who assay the coins provided to decide whether they have been minted within the criteria determined by the relevant Coinage Acts.
2014 Coin of the Year: Best Contemporary Event Coin - 2012 London Olympic Games
2013 Wales Innovation Award: iSIS Security Technology
2010 Coin of the Year: Best Gold Coin - ?100 Olympic Games Faster Series: Neptune
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