Colombian Mint Award for Innovative Solution to Coin Machining

The Colombian Mint (Fábrica de Moneda) has received an award from the Colombian government for technical innovation, in recognition of the development of a new technique that enabled the continuing production of the country’s two highest denomination coins, despite the breakdown of a key piece of machinery just before the pandemic struck that prevented it being repaired.

The machine in question was the Penetration Electrical Discharge Machine (EDM), essential for manufacturing the ferrules and grooving inserts needed to produce the bimetallic $500 and $1,000 coins. The Mint overcame this setback by developing new methods for the manufacture of these tools. The successful outcome not only allowed the Mint to fulfil its production programme but also to reduce costs and manufacturing times. In addition, there were sustainability benefits (less use of resources) and improvements in the minting process.