Minting it: UK picks up Poland’s loose change | beyondbrics

Minting it: UK picks up Poland’s loose change | beyondbrics:

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Poles complaining about the vast amounts of tiny change clogging their wallets and pockets will have to look abroad to vent – the National Bank of Poland announced on Thursday that three of the country’s smallest denomination coins will be made by the UK’s Royal Mint.

The Mint edged out competition from the Mint of Finland, the Royal Mint of Canada and Poland’s own Mennica Polska, a listed company that until now has supplied all the bank’s coins.

The Polish press reports that the Mennica plans to file a lawsuit alleging that the Royal Mint is price dumping to win the contract. Mennica’s bid was 61m zlotys, significantly less than its previous contract, but still well above the winning price.

The three-year contract worth 54m zlotys ($18m) came in significantly below the bank’s estimate of 107m zlotys – the savings are likely to end up bolstering the government’s budget."

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