Czech Mint - Manufacturing Outlook - issue 5

A MILLENNIA OF MINT

A MILLENNI

A country rich in tradition and silver, the Czech Republic boasts a vast and intricate history of minting.

Michal Voborník, CEO of Czech Mint, tells us more about the tradition behind the process and the ways in which the company is innovating for the future Writer: Lauren Kania | Project Manager: Nicholas Kernan

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CZECH MINT EUROPE & MIDDLE EAST

IA OF MINT

Czech minting has a tradition of more than 1,000 years. Our country was not only rich in milk and honey – as legend has it – but also had an abundance of silver.

“This provided an opportunity for ancient mint masters to express themselves through art which is still admired to this day.”

This history, as illustrated by Michal

Voborník, CEO of Czech Mint, has empowered those at the company to be proud of the long-standing legacy that has formed the country’s flourishing minting industry.

Having been a symbol of luxury for thousands of years, precious metals have provided people with power, enabled colonies to be built and destroyed, and fulfilled the wildest of dreams.

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CZECH MINT EUROPE & MIDDLE EAST

WHY CZECH MINT? • Suppliers of Czech coins: Czech Mint’s work is internationally recognised and it has the honour of being responsible for the production of all coins for the Czech National Bank.

• Masters of the craft: Czech Mint offers traditional but also original and unusual products made in cooperation with a variety of artists.

• Traditional Czech society: Czech Mint has been on the market since 1993 and respects the tradition of coin minting while at the same time supporting intelligent innovations and using the most modern technologies.

• Memories for a lifetime: Customers will find a varied selection of commemorative, investment, and gift coins and medals. Czech motifs and worldclass themes are available.

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Thanks to Czech Mint, founded over three decades ago in Jablonec nad Nisou, an individual doesn’t have to be a pharaoh, pirate, or gold miner to enjoy the beauty and endless benefits of precious metals.

Minting not only the entirety of circulating coins in the country, but also all Czech commemorative coins alongside a number of investment and gift products made from precious metals, the company represents a proud tradition and love for the art of minting.

“The entire nation appreciates Czech Mint’s work. Having been a reliable partner of the Czech National Bank since 1993, we produce all metal coinage clinking in the pocket of our citizens – i.e. Czech Koruna (CZK) 1, 2, 5, 10, 20, and 50 piece coins,” prides Voborník.

Aside from manufacturing for the country, the company prepares its own issue plan every year, boasting dozens of products that have become notable for their artistic value, craftsmanship, excellence, and strictly limited mintage.

“Customers can find a range of emotions and 1,000 years of love for the craft in our products’ reliefs.”

These products can be accessed by anyone; from history experts and sports fans to art lovers or those looking for a unique present, investing in Czech Mint’s mintage provides alternative precious metal investments for those who want to own items of artistic, collector, and emotional value.

A THOUSAND YEARS OF MINTING With an interesting start to his minting career, Voborník travelled around the world to gain experience in different industries and positions, with time spent in the US and the UK before returning to the Czech Republic and working his way to CEO of Czech Mint.

Currently, he surmises that the precious metals industry is going through an uncertain time.

“There are different societal pressures for cashless payments.

However, we believe there is still great potential for the innovation, development, and education of our partners and customers. We are confident we will remain a partner, supplier, and employer in the years to come,” dictates Voborník.

What sets Czech Mint apart as a unique entity is the combination of its incredible history and dedication to constant innovation and creativity.

“Every coin or medal is a result of a long chain of successive crafts – some are modern, using the latest technologies, while others are more traditional, applying handcraft

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“ E V E R Y C O I N O R M E D A L I S A R E S U LT OF A LONG CHAIN OF SUCCESSIVE CRAFTS – SOME ARE MODERN, USING T H E L AT E S T T E C H N O L O G I E S , W H I L E OT H E R S A R E M O R E T R A D I T I O N A L , A P P LY I N G H A N D C R A F T T E C H N I Q U E S P E R F E C T E D OV E R C E N T U R I E S ” - M I C H A L VO B O R N Í K , C E O, C Z E C H M I N T

techniques perfected over centuries,” prides Voborník.

This cooperation with leading academic sculptors, painters, renowned medal makers, and talented young artists results in customary, original, and extraordinary products.

One example of this collective artistic work comes in the form of the Crystal Coin series.

Inspired by the importance that the small Bohemian town of Jablonec nad Nisou played in the expansion of glassmaking towards the end of the 19th century, this special series of coins combines the strength of both the glassmaking and minting industries.

“The wealth of shapes and unique lustre please the eye and the soul, demonstrating that Czech glassmakers, cutters, engravers, and minters are true masters of their crafts.”

“Through the coins, Czech Mint and Preciosa – the top supplier of high-quality crystal components – wish to tell the story of our region and present the traditional crafts 6 | Manufacturing Outlook Issue 5

of Jablonec nad Nisou to the world,” explains Voborník.

TREASURES WITHIN ARM’S REACH One of the primary reasons Czech Mint is able to consistently produce such memorable and distinctive coins, as well as other products made from precious metals, is due to its wellestablished supply chain partnerships.

“High-quality and reliable suppliers are the basis for the proper functioning of a manufacturing company such as Czech Mint,” informs Voborník.

“In addition to our specific partnerships for precious metals, our suppliers of machinery, equipment, and associated services are crucial as they directly impact our ability to deliver to our customers.”

These positive relationships result in the creation of myriad new products and internationallyrecognised innovation.

Specifically, Czech Mint recently broke the world record for the largest milled coin in the world, having produced a 535-millimetre (mm) gold coin for the Czech National Bank, which weighs 130 kilogrammes (kg) and boasts a nominal value of CZK100 million. This coin also holds the title

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of the largest gold coin in Europe and second-largest in the world.

“This truly unique issue is a symbol of the 100th anniversary of the establishment of the Czech crown and can be adored by visitors in the vaults of the Czech National Bank,” enthuses Voborník.

Additionally, as the mint continues to look towards the future of the industry, it is embarking on new endeavours such as the Incuse Czech Lion, which will be presented in September 2024 at the annual Prague Collector Fair – the largest collectors’ meeting in Central and Eastern Europe.

“Compared to classic coins where the relief protrudes from the coin field, the new incuse coins’ motifs are sunk into the field. “Such curious coins first appeared in the Middle Ages and were either the result of unintentional minting errors caused by a coin getting struck in the press and then imprinted on the next piece

“CZECH MINTING HAS A TRADITION OF MORE THAN 1,000 YEARS. OUR C O U N T R Y WA S N O T O N LY R I C H I N M I L K AND HONEY – AS LEGEND HAS IT – BUT A L S O H A D A N A B U N D A N C E O F S I LV E R ” - M I C H A L VO B O R N Í K , CEO, CZECH MINT

or were done deliberately for aesthetic reasons and to make the money less worn in circulation,” expands Voborník.

In the 21st century, incuse minting is rarely seen and is thus considered a technological and artistic rarity.

By featuring the heraldic beast of the world-renowned Czech Lion on a special commemorative mintage, the

company serves to further its longlasting legacy and continuous artistic innovation.

A SHINING INVESTMENT FOR THE FUTURE As Czech Mint continues to invest for the future, it is highlighting the Manufacturing Outlook Issue 5 | 7

CZECH MINT EUROPE & MIDDLE EAST

30 YEARS OF CZECH MINT IN NUMBERS THREE BILLION PIECES Since its inception, Czech Mint has minted over three billion pieces of Czech circulation coins with a total value exceeding 13 billion crowns.

150 AUTOMOBILES Coins are minted using up to 150 tonnes (t) of pressure – equivalent to stacking 150 cars on top of one another. When minting heavyweight bullion coins, a hydraulic press exerts a force of more than 1,000t.

CZK50 In 1993, the CZK50 crown coin was declared the most beautiful circulating coin in the world. In 1999, the award for the most beautiful gold coin in the world went to the Czech commemorative coin with a motif of Charles IV. 13 PIECES PER SECOND The coining presses are capable of striking 13 coins per second at a maximum capacity of 500 million pieces per year.

500 TRAIN WAGONS With a total weight of over 9 million kg,, it would take 500 railcars to load and transport all the coins Czech Mint has minted thus far.

ONE NANOMETRE Made from 10kg OF pure gold, the Czech Lion bullion coin is the largest gold coin minted in continental Europe. The coin bears the minted Czech Security Check hologram, a security feature made up of microscopic reliefs with detail starting at just one nanometre, which is 1,000 times less than the thickness of a human hair.

steps it is taking to implement new technologies, specifically those of digitalisation.

“We take great pride in developing new technologies in the field of coin production and are always striving for further innovation,” dictates Voborník.

In 2020, in cooperation with IQ Structures, Czech Mint created Czech Security Check, a security hologram that protects selected high-mass Czech Lion coins from counterfeiting.

As holograms are not only a protective element but an ornamental one, both companies decided to go even further in 2023, devoting the entire surface of the reverse side of the 8 | Manufacturing Outlook Issue 5

coin to an embossed hologram.

Furthermore, by the end of that year, the business minted the first Czech Lion 2023 hologram in the world for the palladium ounce investment coin.

Equally significant to the longevity of the company are its hardworking and dedicated staff and corporate social responsibility (CSR) practices that Czech Mint engages in.

“Our goal is to motivate our employees so that they enjoy their work, and the company continues its reputable guarantee of good earnings and a healthy atmosphere,” states Voborník.

To give back to the community it symbolises in its coins and precious metals products, Czech Mint partakes in Project Babybox – a programme which provides a safe place, i.e. a baby hatch, where people can anonymously leave babies to be found and cared for.

“In 2019, we partnered with the programme and pledged to donate a gold ducat to each child found in a babybox in the country. Since then, we have donated more than 50 gold ducats to the babybox children,” details Voborník.

With over a millennium of history and artistic development, the Czech minting industry is one of the most

notable throughout the world. Czech Mint has carved a name for itself as a premier minting manufacturer who creates pieces that are not just visually stunning, but memorable and priceless for centuries to come.

Tel: +420 800 225 228 info@mint.cz

mint.cz

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CZECH MINT Tel: +420 800 225 228 info@mint.cz mint.cz

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