Coins have traditionally been manufactured using high cost alloys, usually made of brass, copper, nickel and zinc. Since metals are procured at market rates, they are subject to the volatility and availability of the commodities market. Issuing authorities are continually faced with rising costs, driven predominantly by the cost of these raw materials themselves.
The Coin Reclamation Programme, also known as an alloy recovery programme, from The Royal Mint gives issuing authorities, treasuries and mints an incentive to switch from old to new coins by funding the otherwise costly change from the metal value realised from the old coins.
In the United Kingdom, The Royal Mint has worked in partnership with Her Majesty’s Treasury to manage a Coin Reclamation Programme for the UK 5p and 10p coins. Watch a video about this here:
Please call the Circulating Coin team on +44 (0)1443 623852 if you would like to find out more about Coin Reclamation Programmes or e-mail firstname.lastname@example.org to get in touch.