møntværk

Møntværk, or coinage, is the system by which coins are produced, issued, and regulated by a monetary authority. The term combines Danish mønt (coin) and værk (work or mechanism) and encompasses design, metallurgy, production, and policy aspects of coins used as legal tender.

Coinage emerged in the ancient world as standardized metal discs used for trade. Early examples appear in Lydia, ancient Greece, and China. Over centuries, rulers monopolized minting, later centralized by states and central banks. In modern times, many countries separate coinage from banknote issuance, with a sovereign mint producing coins under legal tender laws.

Coins are produced by minting: planchets created from alloys; blanks cut; edges milled or decorated; dies stamp designs. Modern coins may use bi-metallic or multi-layer compositions and incorporate security features such as micro-engraving, edge inscriptions, and anti-counterfeiting particles. Denominations and face values are defined by law; mint marks indicate origin and sometimes year.

The mint, or national mint, along with the central bank or treasury, oversees production, quality, and distribution. Seigniorage is the revenue associated with issuing currency. Legal tender status determines acceptance in commerce; coins may circulate domestically or be issued as commemoratives for collectors.

Circulation includes everyday coins used in payments as well as collector and investment coins. Commemoratives, proofs, and special editions reflect historical, cultural, or national themes and may have limited mintages. Changes in composition, size, or denominations are common during monetary reforms.