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Are there any countries where coins and currency are not required to be produced by the government?

SanctionIISanctionII Posts: 12,681 ✭✭✭✭✭
in U.S. Coin Forum
I have no idea. However I suspect that some governments hire private contractors or mints in other countries to produce their coinage.

Comments

  • rgCoinGuyrgCoinGuy Posts: 7,478 ✭
    The US produces coins for some countries, or at least used to. I think Panama was one, IIRC I had a mint set from them with an insert that said it was produced by the US Mint.
    imageQuid pro quo. Yes or no?
  • WalmannWalmann Posts: 2,806 ✭
    Many countries have their coins and currency produced overseas by others. The old Soviet Union use to use these coins and currency in contemporary "history" museums as examples of captialist imperalism. I saw such displays back in the 70's in East Berlin. What was a hoot was they were using Egyptian Coins produced by US Private mints, Egypt had been one of the Soviet spheres of influence just a short time before these displays went up.

    Also having lived in Sierra Leone for two years I can vouch that their coins and currency were also produced overseas.
  • BECOKABECOKA Posts: 16,961 ✭✭✭


    << <i>The US produces coins for some countries, or at least used to. I think Panama was one, IIRC I had a mint set from them with an insert that said it was produced by the US Mint. >>



    Yep, U.S. still provides coinage for a couple countries. To me that means the U.S. is a contractor for coinage and it is not produced by the countries that use it.
  • SilverBaronSilverBaron Posts: 767 ✭
    I know that the Norwegian mint is owned by a Finnish company.
    Silver Baron
    ********************
    Silver is the mortar that binds the bricks of loyalty.
  • cladkingcladking Posts: 28,906 ✭✭✭✭✭
    It is widespread.

    New Zealand produces all of its circulating coinage but their numismatic program
    coins are mostly produced elsewhere. They've been made in many different places.

    Curiously, these can be differentiated and, unsurprisingly, the coins made for circu-
    lation can be quite scarce.
    tempus fugit extra philosophiam.
  • partagaspartagas Posts: 2,056 ✭✭✭
    Ecuador, abandoned its currency and adopted the US dollar as its national currency.
    If I say something in the woods, and my wife isn't around. Am I still wrong?
  • PerryHallPerryHall Posts: 47,010 ✭✭✭✭✭
    The Franklin Mint used to produce coins (mostly commems) for several of the smaller countries. Also, the 1787 Fugio cent (authorized by the US government) was produced by a private contractor.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • mrcommemmrcommem Posts: 1,191 ✭✭✭✭✭
    Until 1857 when the U. S. Congress abolished foreign coins as legal tender the U. S. government was not needed to produce coins. The only thing the mint did was convert precious metals into a usable form. The mint was not established to make money but to mint coins that are legal tender as defined by Article 1, sect 10 of the Constitution. Trying to place value on scraps of paper and worthless base metals is a futile idea.
    Mr Commem
    Overland Trail Collection Showcase
    Dahlonega Type Set-2008 PCGS Best Exhibited Set
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭
    Wow! This is the fourth one today!

    Are you running down your list of questions today or what?
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • PerryHallPerryHall Posts: 47,010 ✭✭✭✭✭


    << <i>Wow! This is the fourth one today!

    Are you running down your list of questions today or what? >>



    No. He's trying to out do Longacre. image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • garsmithgarsmith Posts: 5,894 ✭✭
    Some of the Philippine coins are (or where) minted in the U.S.
  • DoogyDoogy Posts: 4,508 ✭


    here is some trivia for you:

    Do you know what the first gold coin minted in the United States as legal tender after the ban was lifted in the early 70s was? It was the $100 Gold coin minted for Panama, by the Franklin Mint in 1975

  • COALPORTERCOALPORTER Posts: 2,900 ✭✭
    ICELAND - I think their coin are made in England .
  • cladkingcladking Posts: 28,906 ✭✭✭✭✭
    I'm surprised by the numbers of countries which are having
    coin shortages. A lot of these are places where there hasn't
    been a lot of inflation and they had large mintages many years
    ago and none since.

    Then there are places like India which just try to maintain very
    low value coins that are continually being destroyed for their
    metallic content.
    tempus fugit extra philosophiam.

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