The history of Mint of Finland

1860 - the foundation of The Mint of Finland

Tsar Alexander II's manifesto 4 April 1860 which established the markka as Finland's currency. Open a bigger version (pdf, 0.6 Mt)

The mint was founded by imperial decree on April 19th 1860 and on the Senate’s decision it was located in Helsinki’s Katajanokka district. The model for the building itself and for the equipment required came from Germany.

1863 – the first dies for coins

The Swedish coin engraver Lea Ahlborn was commissioned by The Mint of Finland to produce the first dies. The designs for the coins were drawn by the heraldic artist Alexander Fadejev.

1864 – production begins

Silver markka from 1864.

The Mint of Finland was able to start production in August 1864 and the first markka coins, made from silver, were struck on 15th October 1864. The first, mainly symbolic delivery of coins to the Bank of Finland was made on 25.10.1864. The shipment comprised 30,000 copper penni coins.

1865 - the first product in circulation

Commemorative medal of the Diet from 1865.

The first product release from The Mint of Finland was a commemorative medal designed by Leo Ahlborn in recognition of the 1863-64 Diet, which was struck by order of the Tsar for meritorious conduct by those of the peasant’s Estate. An additional 1,500 bronze medals were struck, some of which were sold to the general public.

1878 – the first gold coins

Gold 20 markka coin from 1878.

After Finland joined the gold standard, the first gold coins were struck with a value of 10 and 20 markka.

1918 - the lion replaces the eagle

Five penni coin from 1918.

The lion coat of arms appearing on the obverse of the coins of the now independent Finland replaced the double eagle of Russia and on the reverse, around the value denomination, the oak leaves were replaced with ears of corn and fir branches representing the Finnish economy.

1951 - the Olympic coin

Olympic coin from 1951.

In 1951 a commemorative coin was struck for the 1952 Helsinki Olympics, the world’s first Olympic coin. This coin started off production of commemorative coins at The Mint of Finland, which now forms an important part of our production.

1963 – monetary reform

One markka coin after the monetary reform in 1964.

The new coins and banknotes brought in with the 1963 monetary reform were, apart from a few details, the same as those of earlier but their value was stamped with new units: the new 50 penni coin was the same as the old 50 markka coin except that it was stamped ‘50 penniä’.

1972 - the five markka coin

Five markka coin from 1972.

The new five markka coin bears a completely new Finland symbol in place of the coat of arms - an ice-breaker. The designer describes this as an attempt to move away from the traditional, folksy image of Finland.

1993 – the bi-metal coin

Ten markka bi-metal coin from 1993.

Finland’s first bi-metal coin was passed into circulation in 1993. The edge of the ten markka coin was made from cupro-nickel and the centre from aluminium bronze.

1993 – Mint of Finland becomes a public limited company

1998 – production of euros begins

Common obverse side of the one euro coin.

The Mint of Finland was an active participant in the design of the euro coins. Manufacture of the new coins began in the autumn of 1998 and the first coins were struck in 1999.

2001 - Mint of Finland expands

Myntverket – Mint of Sweden.

The Mint of Finland buys AB Myntverket from the Swedish Central Bank..

2002 – euros in circulation

National side of the one euro coin.

The first coins and banknotes denominated in euros came into circulation at the same time in all 12 countries of the euro zone. The Mint of Finland had manufactured euro coins for several countries, just as any other mint. As well as for Finland, the Mint has produced coins for five other countries - Greece, Luxemburg, Slovenia, Cyprus and Ireland.

2003 – Mint of Finland expands further

Det Norske Myntverket – Mint of Norway.

The Mint of Finland acquires half the shares of the Royal Norwegian Mint.

2007 - coin update

Expanded EU depicted on the obverse side of a one euro coin.

In 2007 the appearance of the euro coin changed slightly. This update saw the addition of the country name or abbreviation of the name to the national side of the coins. The common side of the coin was updated with the map of the European Union.