Finland: Mint releases announcement regarding the future production of Finnish euro coins for 2019

The Mint of Finland has released (17th January) a statement which announced that the Finnish Ministry of Finance launched a public call for tenders for the supply of Finnish euro coins, including the minting of commemorative two euro coins. Regarding Finnish commemorative or collector coins with other euro nominal values, the Ministry of Finance has published a preliminary information notice.

In Finland, as in many countries, it is the Ministry of Finance which is the competent authority for the procurement of coins. The treasury or central banks are the actual authorities that issue or release the coins into circulation as warranted. As a result of the latest EU Procurement Directives, which have come into force in Finland since 2017, the result is that the Ministry of Finance must tender out the production of circulation coins to a successful bidder who meets all stipulated requisites. The Mint of Finland has manufactured all Finnish euro coins as ordered by the Ministry of Finance until the end of 2018. The supply contract between the Ministry of Finance and Mint of Finland expired on the 31st December 2018.

In the statement issued by the Mint of Finland, they reiterated that as one of the few entirely market driven mints, their business structure is ready for the new era. They further added that the company is actively seeking new business opportunities both in domestic and international markets. Since over 95% of the company’s revenue is already generated from exports, the Mint of Finland has established its position as a leading exporter of circulation coins. Currently, the Mint of Finland export coins to 40 countries on four continents.

The 159-year-old mint was founded by imperial edict in 1860 by Alexander II of Russia during the era when Finland was a Grand Duchy within the Russian Empire. The first coins for use in Finland were struck in 1864, with copper, silver, and gold coins eventually being produced at the facility. After independence in 1917, the minting of coins continued under the directives of the Finnish Ministry of Finance and the Central Bank. In 1951, The Mint of Finland produced the world’s first-ever commemorative coin to mark the Summer Olympic Games which were hosted in Helsinki in 1952. This coin would also launch the Mint of Finland’s popular commemorative coin programme internationally, and was known for its innovative and abstract designs. By 1993, the Mint of Finland was incorporated into a limited liability company, a structure which continues presently. From 1998, the Mint of Finland produced circulation euro coins for Greece, Luxembourg, and Ireland in the run-up to the launch of the single currency from the 1st January 2002. The mint would later produce coins for later euro-zone member states such as Estonia, Slovenia, and Cyprus, in addition to their own euro coins.

The estimated date of the actual call for tender is the 30th August 2019, when the Finnish Finance Ministry will make their announcements and appointments for the production of 2019-dated Euro coins. The Mint of Finland has posted on their website that they are ready to answer your questions regarding their operations through their customer chat service. Issues related to the procurement are advised to be directed to the Finnish Finance Ministry.

Collectors may continue to purchase previously minted commemorative, Proof, Brilliant Uncirculated and collector’s coins as usual by visiting their website.

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