With an average tenure of a governor or director of currency of 3 to 5 years, there’s often not the time nor the appetite to replace notes with coins requiring, as it would, the need to influence public perception and manage the change or risk involved. It also supports money saving, manufacturing processes including plating onto steel instead of using the more expensive solid metals.Īs appealing as these capabilities might appear, the sales teams face a number of challenges.Ĭoins often have a lower perceived value than paper notes.
This helps to support cutting edge innovation such as anti-fraud technology, as featured in the new pound coin introduced into the United Kingdom in 2017. It is the largest integrated and most technically advanced minting facility in the world. The Royal Mint has a number of unique selling propositions. Why the need for selling skill development? Together they sell The Royal Mint’s coinage and capabilities to central banks and their governors or directors of currency around the world. Helping to meet these goals is a global sales director and four regional sales directors each supported by an account manager. It must provide a financial return to the UK government in the form of organic growth and sustainable profits. The Royal Mint is a government-owned company.
Its success and prestige are commonly attributed to the company’s high quality coins and a long tradition of craftsmanship, heritage and artistry. It is now the world’s leading export mint of coins and blanks, supplying over 40 countries each year to Central Banks and National Mints across five continents. For over a thousand years The Royal Mint has made and distributed United Kingdom coins, blanks and official medals.
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