July 16, 2013 – The Royal Mint, the world’s leading export mint, has signed a Memorandum of Understanding (MOU) with the Treasury Department of Thailand to establish a regional coin training academy at The Royal Thai Mint.
This initiative will see the Royal Mint share the benefits of its 1,000 years of minting excellence through the provision of guidance, training and expertise in all elements of coin production and management at a regional coin training academy to be established at The Royal Thai Mint.
As well as providing technical assistance, the Royal Mint will design a holistic training course, provide course materials and recruit and train academy members.
The course will cover the structures and processes required for the effective and efficient planning, demand forecasting, production and distribution of coins, including the development of a standard manufacturing process and methods to prevent counterfeiting. It will focus on circulating coin, commemorative coin and medallion production and packaging development, along with training in how to market such products. It will also cover how legacy coins can be returned from the public, retail and business sectors to generate an income stream.
The programme is part of a strategic plan to introduce circulating coins into Asia, where The Royal Mint will be responsible for supplying plated coin blanks while also combining with the Royal Thai Mint to write a feasibility study for the creation of a Blank Plating Mint in Thailand.
Andrew Mills, Director of Commemorative Coin at The Royal Mint, said “The Royal Mint is delighted to have agreed this Memorandum of Understanding with the Treasury Department of Thailand. We are proud to be the world’s leading export mint, and believe this mutually beneficial agreement will significantly increase our role in the Asian market while helping the Royal Thai Mint improve the standard and efficiency of coin production in Thailand.”