Every Mint, Central Bank, and Monetary Authority talks about Sustainability.
The coin industry focuses on domestic challenges, from mining and minting to circulation and re-circulation.
What happens when coin travels to another country?
We go on vacation and bring coins home with us, either as a souvenir or as change that we couldn’t or didn’t spend.
Every year, more coins are introduced into circulation to replace those coins.
**THAT is not a sustainable solution.**
There is a solution: **Foreign Currency Fundraising.**
It has been used by charities in the U.K. for decades. There are charities in Ireland and New Zealand that are funded exclusively by the ask of foreign currency.
* The charity collects it
* The charity works with a company that handles foreign
coin
* The coin is sorted and repatriated for re-circulation
* The value of the coin comes back, all fees are paid,
and the charity makes money
* The foreign coin “pays” its own way back home
The industry should include a sustainability message for the public to donate their foreign coin to charity, any charity.
With the introduction of GCS Japan, Global Coin Solutions is building a global logistics network to support the repatriation of coin, effectively, efficiently, and with less cost.
Charity wins and sustainability in the coin industry improves.