Published: 30 Jan 2023 › Updated: 30 Jan 2023
LeoGlossary: Mint (Currency)
A mint is a country's primary producer of the coin currency. This is done with the consent of the government. What is produced is classified as legal tender, meaning it is acceptable use for payments of debts and taxes.
In addition to production, the mint carries out other functions:
- distribution of the currency
- protection of the mint's assets
- overseeing its various production facilities
Mints earn a profit from seigniorage, the difference between the face value and the cost of making a coin for circulating currency, or from the premium that collectors will pay for coins over raw bullion and metal for collector coins.
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