The fastest and safest standard of the withdrawal of circulation coins is the immediate de-valuation in an economical and ecological efficient manner and finally – to cash the metal value of outdated coins immediately and return it to the tax payers. Not only, but especially in times of political crises, wars and pandemics when world’s economies and metal markets are going through tremendous changes, the demonetization and recycling of coins is of an increasing importance.
The Team of M1 has successfully realised coin recycling projects for up to 50 Central Banks, Mints and Cash Centers worldwide helping its customer base to safely organise coin withdrawals and demonetization in order to capitalise coin metals and release coin stocks immediately.
One of such projects was realised with the Bank of Latvia forming an important part of the country’s Euro introduction. In this respect a short summary on the Lat coin withdrawal will be given by the representative of Bank of Latvia, Mr. Girts Jansons.