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Royal Dutch Mint

From Wikipedia, the free encyclopedia
Koninklijke Nederlandse Munt
Company typeNaamloze vennootschap owned by Belgian Heylen Group
Industrycoin production
Founded1567, Utrecht[citation needed]
HeadquartersUtrecht, Netherlands
Area served
Worldwide
Key people
Bert van Ravenswaaij (Muntmeester)
Productscoins / medals
Websitewww.royaldutchmint.com
Former building of the KNM built between 1903 and 1911, called De Munt

The Royal Dutch Mint (Koninklijke Nederlandse Munt, abbreviated KNM) based in Utrecht, the Netherlands, is a company owned by Heimerle + Meule. It was established and previously owned by the Dutch state.

History

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On 17 September 1806, when The Netherlands were under the rule of King Louis Napoleon, he decided that the striking and distribution of coins should be by a single, national body.[1] This was in contrast to the Middle Ages custom of large trading cities having their own mint and coins, which resulted in several coins circulating within the country, and many levels of controlling bureaucracy.

Originally it was the intention to found the mint in the capital city of Amsterdam but, since there was insufficient finance available, it was decided to locate the National Mint seat in Utrecht.

After Napoleon was defeated in 1813, and the Kingdom of the Netherlands was founded with William I as King, the Mint was renamed as 's Rijks Munt. What is now known as Belgium was a part of the new kingdom, and a second Mint was located in Brussels.[2] When Belgium achieved independence in 1839, the Rijks Munt became the only mint in the Kingdom of the Netherlands. The provincial coins had been minted before the unification of the Mint were still in circulation. Due to their relatively high intrinsic value, the "new" coins would only gain popularity with the passage of time. In 1849 the provincial coins were officially taken out of circulation.

In 1901[3] the company was placed under the supervision of the Ministry of Finance, and in 1912 the Mint officially became a company owned by the State.[4] At the end of the German occupation during the Second World War, in 1944, coins were produced in the United States. This was necessary to ensure that there would be enough currency available after the liberation.[5]

In 1994 's Rijks Munt was renamed as De Nederlandse Munt NV. It became a company, 100% of whose shares are owned by the Dutch State. The Queen awarded the company the prefix Koninklijk (Royal) five years later, and the company was now allowed to call itself De Koninklijke Nederlandse Munt (The Royal Dutch Mint).[6] On 22 November 2016 the Royal Dutch Mint was sold to the Belgian Groep Heylen.[7]

Production

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Since 2002 the Royal Dutch Mint has been allowed to strike coins for foreign national banks in the euro zone, and occasionally strikes coins for other countries such as Guatemala and Honduras. Furthermore, the Dutch Royal Mint produces commemorative coins, coins intended for collectors, medals and royal decorations.

The Royal Dutch Mint was also delegated the task of destroying the old guilders after their replacement by the euro in 2002.

Sources and references

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  1. ^ By Royal decree no. 18
  2. ^ "website on the Dutch guilder about the coins in the era of William I". Archived from the original on 2008-01-02. Retrieved 2007-12-31.
  3. ^ Law of 28 May 1901, State Courant No 130
  4. ^ Website on the Dutch guilder, during the reign of Wilhelmina Archived 2008-01-02 at the Wayback Machine (Dutch)
  5. ^ Royal Decree 20 July 1944, State Courant E54 and E55)
  6. ^ "Website about the Dutch Guilder describing the change from 's Rijks Munt to Koninklijke Nederlandse Munt". Archived from the original on 2006-10-09. Retrieved 2007-12-31.
  7. ^ (in Dutch)Groep Heylen koopt Koninklijke Nederlandse Munt, press release by Koninklijke Nederlandse Munt. 22 November 2016. Visited 22 November 2016
Dutch Rijksmonument 514180
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