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Monnaie de Paris Joins CashEssentials

Categories : Cash connects people, Cash contributes to education, Cash is a public good, Uncategorized
May 31, 2022
Tags : Cash, Coins, France, Mints
CashEssentials is honoured to announce that Monnaie de Paris (the French Mint) has joined the think tank.
Communication Team / Equipo de Comunicación

This post is also available in: Spanish

Monnaie de Paris (The French Mint) is the oldest French institution and one of the oldest enterprises in the world. Its main missions are the public service of minting euro coins for France, the production of foreign coins, and the editing of collector coins. The Mint was the first factory established in Paris in 864 AD.

The Pessac factory (near Bordeaux) has been manufacturing coins since 1973, from the cutting out of blanks to the final conditioning. Monnaie de Paris mints approximately 1,2 billion coins every year, half of which is intended for export. The mint also manufactures collectors’ coins in gold or silver, following a program approved every year by the Government. It is also the historical manufacturer for official medals and decorations such as the Legion of Honour and the National Order of Merit. It is the last art foundry in Paris, perpetuating a tradition and know-how handed down for centuries by its craftsmen.

In January 2022, Monnaie de Paris announced, on the occasion of the 20th anniversary of euro notes and coins, a new design for the French side of euro coins. Each euro coin has a European side and a national side. Changing its national side is only possible every fifteen years and requires validation by the European Commission and the European Council. The approval was obtained on July 26, 2021, after President Macron had validated the new design created by Joaquin Jimenez, the general engraver of Monnaie de Paris. It will adorn the €1 and €2 coins that are in circulation since January 2022.

CashEssentials is a global, independent think tank, whose mission is to monitor ongoing developments and undertake research and analysis on cash and its future, while providing a platform for balanced inquiry and debate about cash, payments and monetary systems, for the benefit, viability and well-being of all.

Marc Schwartz, CEO of Monnaie de Paris said : “The role of notes and coins in the monetary landscape is changing.  CashEssentials has contributed to frame the discussion about the future of cash, not only in technological terms, but as an all-pervasive societal issue with fundamental implications for inclusion and equality, resilience and efficiency. We look forward to participating. ”

Guillaume Lepecq, Chair of CashEssentials said “The almost 1,200 years of history of Monnaie de Paris illustrate how money has evolved and adapted. The debate on the evolution of cash, payments and monetary systems, should be shaped collectively for the benefit, viability and well-being of all.”

This post is also available in: Spanish