Mint strikes museum deal

Birmingham Mint made euro coins

The Birmingham Mint, the world's oldest private coin maker, has signed a deal to keep part of its operation open as a working museum.

The struggling firm, which first began turning out coins in 1794, ceased trading in May after running into financial problems.

Birmingham City Council has entered into a deal with two companies to keep part of the Hockley-based operation going.

Under the deal a section of the site would turn into a working museum making medals and commemorative coins.

Trade fell

Birmingham Mint had employed more than 100 people and was one of the largest makers of blank euro coins.

It also produced Polish zloty and Venezuelan pesos.

However trade fell after the Royal Mint pulled out of a business agreement, which cost the Birmingham coin maker thousands of pounds.

The Birmingham Mint was bought by IMI in 1991 for £13m and passed into the hands of venture capital firm 3i seven years later.

It was then bought out by its management, headed by former chief executive Roland Vernon, in 2001.