Spain’s Coin Circulation and Management

At the Coin Conference in Amsterdam last October, Beatriz Guia of Banco de España provided an overview of Spain’s coin circulation and management. This article is based on that presentation, with an update following the publication of the BdE’s annual report this summer.

In Spain, coins are produced by the national mint (Fábrica Nacional de Moneda y Timbre, aka FNMT) with the Treasury as the customer. The Mint and the Banco de España (BdE) are responsible for primary distribution, logistics and stock management. Cash in transit (CIT) companies work with the financial institutions to distribute the coins and the commercial sector looks after cash usage.

The BdE has 15 branches, a central warehouse providing coin distribution to 57 CIT centres owned by Prosegur, Loomis and Trablisa. Coins are distributed on demand, with no transport fees charged.