Minting For the Future at MDC 2023

Canada – Ottawa
15-18 October 2023

The first day of the conference opened with a welcome address from Marie Lemay, President and CEO of RCM, who invited delegates to take the opportunity to focus on the future of minting, particularly in view of increasing digitalisation, look at the challenges and opportunities of numismatics, and look at how mints can be leaders in sustainability.

Stephen Poloz, former Governor of the Bank of Canada, formerly opened the programme with his keynote address on ‘In an Ever Changing World – What is Next?’, based on his new book ‘The Next Age of Uncertainty’ (with delegates all receiving a free copy). His speech took delegates through the confluence of largely maligned socio-economic and geo-political events that are creating such uncertainty in current times, and would have been depressing had he not delivered it with such panache and humour.

The takeaway message for the coin industry was that in such uncertain times, and potentially with even greater uncertainty, consumers and retailers that have become cashless will look for mediums that provide certainty and stability.

Circulation coinage in a digital world

Technical committee presentations and brand engagement

The afternoon saw the programme splitting into twin track sessions, with one session featuring presentations from members of the International Mint Directors Network (IMDN) Technical Committee and the other exploring ‘How Can Mints Build Brand Engagement Through Innovative Marketing?’.

Manfred Matzinger-Leopold from the Austrian Mint opened the technical committee session by introducing Thomas Hrach from Economa, who presented on material recovery for sustainable manufacturing . This includes elements such as measuring the exact weight of the product, precise 3D scans, blank cutting and retrieval of shavings, and handling heavy material totes using SCARA robots (which are based on EPSON robotics).

Xianyao Li, CTO at the RCM, then presented on the use of new material and technologies – including opportunities for a ‘new EMS’ – to provide greater coin security and authentication.

Next was Paulo Alexandrino of INCM (the Portuguese Mint), who discussed the work undertaken on alternative methods for producing dies, such as surveys, comparison modelling and optimisation of the methods – which include conventional hobbing, CNC machining, laser engraving, and electrochemical machining. The exploration of these methods included input from various suppliers who produce die production machines – Sack & Kiesselbach, LANG, ACSYS Lasertechnik, and PEMTec, respectively.

Paulo was followed by Pascal Rencker of the Monnaie de Paris, who spoke on the future of tri-component coins and their testing and production of tri-metallic, bi- metallic and polymer, and bi-metallic and ceramic coins for more secure, sustainable, cost efficient and durable high value coins.

Closing out the morning’s technical committee presentations was Siemovit Kalukiewicz, Mennica Polska, who updated delegates on the TC’s project on improving coin and blank inspection through automation. This included the installation of SPALECK inspection systems in Sack & Kiesselbach presses at the Polish and Bavarian mints, with the first integration taking place in Morocco at the end of last year.

The first day of the conference closed with a Canadian Experience evening held at the Fairmont Le Château Montebello in Quebec, the world’s largest log cabin. With the sun setting over the Ottawa River as its backdrop, the evening also included audience participation in playing heritage musical spoons, a traditional percussion instrument, alongside Canadian folk music.

Focusing on sustainability

Day Two of the conference opened with the second keynote address from Dr Farah Alibay, an aerospace engineer currently on the M2020 Mission, working on the Mars Perseverance Rover. Speaking remotely from Los Angeles, and appearing on stage via a Proto holographic communications platform (which knocks spots off Zoom or Teams), Dr Alibay spoke about her background, sustainability, and the importance of social inclusion and environmental stewardship, from her perspective as an aerospace engineer.

Claire Bennet, from the conference’s sustainability sponsor PwC, then gave an overview of the sustainability efforts for MDC 2023 and its aim of achieving carbon neutrality. These included accounting for MDC’s greenhouse gas (GHG) emissions, a decarbonisation approach, and sustainable conference practices. Mitigation activities included the use of sustainable catering and décor, improved waste management practices and the reduction of single-use plastic and unrecyclable materials, and the incorporation of virtual elements to reduce the need for business travel. Carbon offsetting was also utilised, with the ‘Great Bear Forest Carbon Project’ selected to offset emissions from the conference.

Colin Osborne from Samuel & Son (a Canadian multinational company specialising in metal processing, distribution, and industrial products) then provided the introductory presentation on the session topic, ‘How Can Mints be Leaders in Sustainability?’.

He explained the importance of sustainability to the organisation, with investment in disruptive technology leading to over 70% reduction in energy use and GHG. As its next steps, Samuel & Son is now looking to water stewardship, commercialise additive, scope 3 optimisation, and fleet conversion, alongside continuous improvement programmes targeting annual improvement.

Presentations and a panel discussion on ‘Exploring the Concrete Actions that Mints Can Take in a World that Demands an Increased Focus on ESG’ then took place, with presentations from Toby Heaps (Corporate Knights), Andrew Mills (The Royal Mint), and Scott Ingham (Royal Canadian Mint).

Toby Heaps provided a global perspective on sustainability, based upon research conducted by the organisation, noting that the companies investing the most in sustainable products and services are doing better than those who are not, and that global spending on clean energy is estimated to reach $4.3 trillion by 2030 as decarbonisation solutions become more common and more affordable.

Andrew Mills then spoke about what mints have been doing with respect to sustainability, detailing the actions taken by the Mint Directors Association subcommittee on sustainability, including the inaugural Sustainability Charter.

The final presentation of the session, by Scott Ingham, described collaborative efforts made to reduce plastics use in the minting industry. The approach taken by the Environment Subcommittee of the IMDN Technical Committee has identified opportunities to reduce the use of plastics for investment and numismatics product packaging, as well as circulation coinage.

The next breakout sessions again took place as twin track sessions, with further presentations from the IMDN-TC in one session, whilst the other session focused on ‘Rethinking Numismatics – Appealing to the New Collector’.

Mike Gradwell from Asahi Refining opened the technical committee session by introducing Günther Waadt from Bayerisches Hauptmünzamt (Bavarian State Mint), who presented on benchmarking in the minting industry. Günther briefly detailed the scope and milestones of benchmarking, before introducing the benchmarking ‘toolbox’, which includes KPI (Key Performance Indicator), technical and supplier benchmarking. Fostering external benchmarking was encouraged, to learn from other industries, plus the extension to include ESG criteria – with participation underlined as the most relevant need for benchmarking.

The next presentation came from Sharon Tran of the Royal Australian Mint, who explained automation and industry 4.0 (I 4.0) in the minting industry, with the eponymous TC subcommittee aiming to improve industry understanding of both topics. Sharon detailed the impacts of the fourth industrial revolution – I 4.0 – in minting and the results of a minting survey, which found that the most utilised automation processes can be seen in circulating coining and circulating package production. She also noted that research understanding of the topic is constantly evolving and so continued exploration of the topic is recommended to ensure continued industry relevance.

The final technical committee presentation, from Scott Ingham, detailed environmental best practices and expanded on Scott’s earlier presentation during the sustainability session. Focusing on single-use plastic, the group implemented the reduction of plastic consumption, re-use of plastic waste as feedstock, and the replacement of plastic with cardboard or paper. A longer-term project is to explore the use of alternative materials.

The dealer perspective

Taking place at the same time as the TC presentations, Jeffery Rogers introduced Steven Bromberg from Canadian Coin and Currency, who provided a Canadian dealer perspective on numismatics and appealing to new collectors. He detailed the importance of secondary markets and the opportunity for leveraging circulation coins to attract new collectors, noting that mints and dealers can work together to create a strong collector market.

Niels Hagemann from MDM then provided a European dealer perspective on the topic, highlighting three successful global collaborations between mints and dealers – the Australian Donation Dollar, the 2016 German €5 polymer coin, and the United States 50 state quarter programme. He encouraged both sets of actors to work collaboratively to coordinate on initiative and open new distribution channels.

The session invited audience participation on the topics presented, to discuss the role of mints and dealers in attracting new collectors with each other and the presenters themselves.

The penultimate session of the day saw a final twin track session taking place, with one focusing on ‘Bullion, Sustainability and Appealing to New Investors’, and the other on ‘The Business Imperative of Social Responsibility’.

The bullion session opened with Tamara Jomaa-Shakarchi from MKS PAMP on the importance of ESG for bullion. Outlining the company’s commitment to carbon neutral production, as emphasised by its carbon certified products, Tamara noted ‘MORE’ as an important acronym to consider – M(easure), O(ffset), R(educe), E(valuate).

Panellists Manfred Matzinger-Leopold, Ventris Gibson (US Mint), and Tom Froggatt, then discussed the importance of sustainability for mint bullion producers. The ability to be climate resilient, to have a sustainable workforce, ethical sourcing, and create better partnerships, were mentioned as key aspects.

Tom Power from Sunshine Minting (SMI) followed the panel discussion with a presentation on the importance of ESG for bullion, noting three key aspects when considering bullion production – planet, people, and profits.

The session closed with a second panel discussion on what mints are doing to leverage sustainability and ESG to expand their bullion products and engage interest for bullion products. Actions include ensuring sustainable precious metals sourcing, investment in products to achieve net zero emissions, and digital marketing for new products.

In the social responsibility session, representatives of four mints gave case study presentations on socially responsible programmes implemented by each organisation.

Greta Luus from the South African Mint provided an overview of its partnership with a local high school, Olievenhoutbosch Secondary School. Through the partnership, the Mint offers one student a full scholarship to further their studies at a tertiary institution of their choice, with eight learners funded from 2016 to date.

Next, Leigh Gordon from the Royal Australian Mint detailed its partnership with the Children’s Book Council of Australia (CBCA). The Mint has released three coins celebrating classic Australian children’s literature to date, working with the CBCA to promote reading in schools and libraries across the country.

Anne Jessopp from The Royal Mint then covered the delivery of an authentic equality, diversity and inclusion strategy. In collaboration with external designers, the Mint has produced three gold bullion bars honouring the Hindu deities Lakshmi and Ganesh and the important symbol Om; a 50p coin celebrating the 50th anniversary of Pride UK; and a gold bullion bar depicting the Kaaba, the holiest site for millions of Muslims. Each release was commemorated with events held or attended either at the Mint or externally.

The final presentation of the social responsibility session came from Isabel Valldecabres Ortiz of the Spanish mint FNMT and detailed its partnership with the School of Engraving and Graphic Design in Madrid. Delivered as a qualification of the University of Castilla-La Mancha, the School offers a Master’s degree in Graphic Print Media, Illustration and Artistic Minting with the support of the Mint.

FNMT sees this as an opportunity to help preserve knowledge of traditional and artistic techniques and support a new generation of engraving and graphic professionals. Students access the course through scholarships, and the Mint aims to support this further with a Doctorate-level course and the inclusion of accommodation provisions, plus additional students and institutions, offered in the future.

Minting Our Future from the Mint Directors’ Perspective

Looking to the future

Delegates were invited to tour the Royal Canadian Mint’s Ottawa manufacturing facility the following day, which provided a behind-the-scenes look at the Mint’s numismatics production facility. This spanned the full spectrum of the coin production cycle and included sights of the coin design and engraving process; die production; blanking production, the rolling room and burnishing; the numismatic and bullion press rooms; and finished coin examples and the RCM boutique.

The next MDC is scheduled to take place in South Africa in April 2025.

Gallery – Sessions

Gallery – Social Events

Awards – Our Finalists & Winners

Click on the image to get more info about the finalist.

Best Circulating Coin or Coin Series

Best Collectible Gold Coin

Best Collectible Silver Coin

Best Packaging (of a collectible coin)

Best Sustainability Initiative