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Commemorative coins licenced by the States of Alderney will return to full production next year after a new contract was signed earlier this month with the Commonwealth Mint (CWM).
Only five commemorative coins have been issued in the last two years which means royalty income to the Alderney Treasury has fallen short for 2023. However, the revised contract terms suggest that this will be recovered over the life of the contract.
Under the new contract, CWM will issue 10 designs a year starting in 2024.
From 2024, a minimum annual guaranteed figure has been agreed and expected royalty figures are an improvement on previous levels due to the aspiration of CWM to open up the international market, particularly the USA.
Policy & Finance Committee chairman Nigel Vooght said: “We look forward to a reinvigorated relationship with CWM that will provide the Island with increasing revenues in the coming years.
“In addition, we have included in the contract that we can issue information on a coin issue, specifications and number of coin sales two years after the date of a featured coin, instead of the current arrangement in which a ceiling figure is published and rarely achieved. This information will be available for cataloguing and will enable collectors to understand how rare each coin is.”
