In the European Union, coin minting generates over €13 billion (iwi, 2019)

The statistic comes from the Institute for Industrial Research study, Mints in Europe EU28 from an Economist’s View, published in 2019.

The report gives a more complete picture of the role of coins in the European economy, using a model to quantify the economic impacts beyond the input-output model. To do this, the report delves into four dimensions: direct, indirect, induced and associated effects.

Key findings include

• For every Euro coin produced by a Mint in Europe, the supply industry produces additional goods worth €4.95, with the added value for the economy amounting to €5.30 for every Euro minted.
• For each one of the 3,586 people employed at Mints, there are another 10 in the whole economy that have a job only because of the production of coins.
• Coin minting in the European Union generates more than €13 billion of production.
• The employment of 16,858 people is directly or indirectly linked to coin production.
• A total of €13,797 million of production are generated by the macroeconomic and associated effects of mints or coins in the economy.
• Employment for 169,858 persons in the EU28 are generated by the macroeconomic and associated effects of mints or coins in the economy.