So you want to make your own coins?

It's not as hard as you may think

Anyone who pays attention to the modern new issues market quickly becomes aware of theoutpouring of commemoratives, often from far-flung tropical island nations or war-torn Africancountries, but also from national mints like the Royal Canadian Mint and the Mint of Poland.

Private issuers abound, with European and Asian and even American companies directing programsintended to capture segments of the market.

Maybe you want to cash in on that craze by issuing your own coins, with a theme of yourchoosing? But invading a country is too dangerous, and buying a sovereign island outright is tooexpensive.

So, you could always partner with a mint that already has a relationship with an issuingauthority like Palau, the Cook Islands, or Somalia. Let's assume that you will coordinate theprogram with the Mint of Poland, which issues coins for the National Bank of Poland as well asseveral other partners.

You need a license to drive, but why do you need a license to issue coins?

Well, in this case, the sovereign privilege of striking coins comes at a price. Each nation isresponsible for its money supply, and commemorative coins, though unlikely ever to be cashed, arein accounting-speak potential liabilities to the bottom line.

Whether it is Niue or Armenia or Belarus or any other country you want to officially issue thecoins, there is a cost that must be paid. Issuers are always quiet about this relationship, butrecent news reports about the New Zealand Mint suggest that the company alone pays abouthalf-a-million dollars U.S. every year for the dozens of coin programs it issues under thatisland's name.

Suddenly this proposition seems a little pricey, huh?

To read the complete article, see:
SO YOU WANTTO MAKE YOUR OWN COINS?(www.coinworld.com/voices/jeff-starck/2014/10/_so_you_want_to_make.html)

To read the earlier E-Sylum article, see:
MICRONATION STATECRAFT FOR DUMMIES(www.coinbooks.org/esylum_v17n43a21.html)