The Kremnica Mint

By: David GrňoHotel Academy, Bratislava

Importance

⬜ the oldest continuously manufacturing enterprise in Slovakia

⬜ one of the oldest manufacturing enterprises in the world

⬜ it has been minting coins for over 700 years

Kremnica town

❖ was among the major mining towns of the world during the Middle Ages

❖ abundant gold ore deposits ❖ in 1328 the Ugrian King Charles Robert of Anjou

promoted mining and the settlement of Cremnychbana to a free royal town and founded a mint there

Beginning of minting

❖ in 1328 coiners from the Czech town of Kutna Hora came to Kremnica

❖ Ugrian grosh was the first silver coin minted there❖ In the 1330s, launching of gold coin minting❖ the Ugrian florin - Kremnica ducat- the strongest

currency in Central Europe in the Middle Ages.

Golden Kremnica

❖ in the 14th century the mint ranked among the largest production companies in Europe

❖ Kremnica became the capital of the mining towns in Hungary

❖ in the 16th century – the town was a major centre of production of medals

Decrease in gold exploitation

❖ in the 15th century – changes in currency system❖ minting of heavy silver coins – Talers, the official

currency of the Hungarian Monarchy. ❖ Denars for for the day-to-day needs of the people

of the monarchy

Increase of productivity

❖ un 17th century – the introduction of cylinder coin machines

❖ un 19th century -the first automatic Uhlhorn striking machines

❖ a reduction machine enabling the creation of a miniature copy into and iron die from the model

The mint in Czechoslovakia

❖ in 1918 - the disintegration of the Austro-Hungarian Monarchy

❖ the Hungarian army had taken all the machinery equipment and metal stock

❖ The Kremnica Mint used the new electric driven machines

❖ new Czechoslovak currency was launched here in 1921

❖ during the Second World War – coining machines were destroyed

❖ after the war one-crown coins of the renewed Czechoslovak Republic were started to be struck

Dissolution of Czechoslovakia (1993)

❖ state enterprise of the Slovak Republic❖ clients from every continent around the world❖ produces commemorative and collector coins

made of precious metals❖ clients are from Czech Republic, Ukraine, Cyprus,

Bangladesh, Turkmenistan, Albania, Kyrgyzstan, Argentina, Paraguay, Uruguay and Moldavia

The Kremnica Mint

Ranks among the oldest continually working companies in the world with its

700 year tradition