Annual rank29
Poland · Basic Materials
Mennica Polska
Mennica Polska produces circulation and collector coins, alongside silver and gold bullion coins.
FY2022–FY2025
FY2022–FY2025
FY2022–FY2025
current context only
Company profile
Coins, code and a changing Warsaw skyline
Mennica Polska traces its origin to a Warsaw mint established in 1766. The listed group now reports four segments: Mint Products, Electronic Payments, Real Estate Development and Office Space Rental. Within them, it makes circulation and collector coins for central-bank and commercial customers, sells branded investment gold, operates public-transport ticketing hardware and software, and develops and rents property in Warsaw.
Central-bank coinage
From a plaster model to 750 coins a minute
A coin can begin as a hand-sculpted plaster model, then be scanned into a digital die. Blanks are polished, circulation pieces receive one strike and collector pieces may receive several; presses can produce up to 750 circulation coins a minute. Mennica manufactures six Polish denominations for the National Bank of Poland and has fulfilled separate orders for foreign central banks, including 30 million coins for Georgia and nearly 125 million for Colombia. Those banks are customers and issuers, not subsidiaries.
- Follow a coin through production Hand modelling, die preparation, striking and quality control
- Compare central-bank orders Exact Polish denominations and completed foreign contracts
- Explore minting technologies Latent images, microprinting, inserts and unusual forms
- ▶ VideoWatch coins made for Armenia Official visual film on a foreign central-bank order
Bullion and collector objects
Nearly two billion coins, plus one that levitates
In 2025 the Group says it delivered more than 2.5 tonnes of gold bullion and nearly two billion coins; branded Mennica products represented over 60% of investment-gold sales. Its collector work is more theatrical: the Cameroon-issued UFO MP-1766 uses a hidden motor and magnetic field to levitate, while the Niue-issued Magnolia uses photochromic pigment so silver petals turn pink in sunlight. The description of UFO as a world first is Mennica's own claim.
- Browse the investment offer Mennica-branded bars alongside the wider bullion range
- Inspect UFO MP-1766 Seven ounces of silver, magnetic levitation and a Cameroon denomination
- ▶ VideoWatch UFO levitate Official 67-second visual demonstration
- See Magnolia change colour A Niue-issued silver coin activated by ultraviolet light
Electronic payments
The mint behind the validator
Beyond cards, City Card and GOLD combine a central system, sales software, ticket machines, validators, mobile payments and ecommerce. By the end of 2025, the Group reported 865 fixed machines, 1,310 mobile machines and more than 4,500 open-payment readers under municipal contracts. In Poznan, passengers bought about 420,000 tickets during the system's first year. Warsaw is different: its portal, app, journey planner and 13,000 devices are contracted for rollout from 2027, not yet an operating network.
- Enter the City Card architecture GOLD software, terminals, sales channels and operating models
- Use the Poznan validator A live open-payment example across city and suburban lines
- Store a season ticket on a bank card The Bydgoszcz implementation and partner roles
- Follow Warsaw's future rollout A contracted 2027-2029 programme, not a completed system
Property and group perimeter
From a 1766 mint to the Mennica Towers complex
The mint reform of 10 February 1766 is the group's historical starting point; property arrived much later. In September 2025, the Group became majority shareholder of the company owning the Mennica Towers office complex and created a separate rental segment. Bulwary Praskie Stage II comprised 747 flats, 658 presold or reserved at year-end. The older project page describes the 130-metre landmark as Mennica Legacy Tower; it supplies physical design details, not current ownership.
- Trace 260 years of the mint From the 1766 reform to today's four business lines
- Read the current Group perimeter 2025 control, rental assets and Bulwary Praskie status
- Map the property portfolio Residential, office and operating-property activity in Warsaw
- See the 130-metre tower Physical design details from the original project page
Official profile sources: Mennica Polska
Current 2026 update
What is changing at Mennica Polska in 2026?
Mennica Polska is changing in three distinct ways. Customers can sell investment gold at four additional physical locations; Colombia selected its 720.5 million-coin offer; and a refinery review changed the bullion catalogue. Each development sits at a different commercial stage.
The change in one sentence
After-sale services, export scale and supplier trust now shape the mint.
Gold buyback extends the customer relationship; Colombia selected the full offer but contract and delivery remain ahead; Valcambi bars stay withdrawn while the LBMA review remains open and the refiner stays on the Good Delivery List.
Four lenses on 2026
The same four-quadrant format used in the Company profile.
01 · Investment gold
Gold becomes a two-way retail relationship
Mennica added investment-gold buyback at four additional physical locations in Katowice, Szczecin, Gdynia and Gdansk, allowing customers to sell bars and bullion coins. In Q1 it sold 838 kilograms of gold in mint products, up from 607 kilograms; this is product sales, not disclosed buyback volume. The World Gold Council estimates European bar-and-coin demand rose 50% year on year to about 41 tonnes in Q1 2026. Mennica gives no repurchase volume, repeat-customer or margin measure for the new service.
- Current signalFour new buyback locations · 838kg of Q1 product sales
- Why it mattersBuyback can add local liquidity and repeat contact after the first sale, but the disclosed gold volume does not yet measure that service.
- Q1 gold, coin and buyback update Mennica Polska · 2026-04-29
- European bar-and-coin demand World Gold Council · 2026-04-29
02 · Colombia
Colombia selected the full 720.5 million-coin offer; signing remains ahead
Mennica submitted a EUR 11.62655 million offer on 30 June to mint 720.5 million Colombian circulation coins. On 20 August it learned that the full offer had been selected as most advantageous, with all deliveries planned for 2027. Before signing the supply contract, Mennica must provide a performance guarantee equal to 10% of contract value, valid through January 2029. Selection is not yet a signed contract, recognised revenue, completed production or delivered coins.
- Current signalFull offer selected · 720.5m coins · deliveries planned for 2027
- Why it mattersThe programme is larger than the 651 million circulation and collector coins sold in Q1, but one is a future selected programme and the other a quarter's mixed sales.
- Colombian bid terms Mennica Polska · 2026-06-30
- Colombian full-offer selection Mennica Polska · 2026-08-20
- Q1 gold, coin and buyback update Mennica Polska · 2026-04-29
03 · Supplier standards
An unresolved refinery review still shapes the retail shelf
Mennica temporarily removed Valcambi investment bars from sale on 25 June after LBMA invoked an Incident Review Process. At the cutoff, LBMA still described the review as active and Valcambi as a Good Delivery Refiner. Mennica says the bars will remain withdrawn until the matter is resolved and hopes to resume cooperation. The withdrawal is Mennica's catalogue decision; the LBMA status is not a suspension or a concluded finding.
- Current signalValcambi bars withdrawn · LBMA review active · Good Delivery status retained
- Why it mattersBullion retail depends on provenance and standards, so supplier review can alter the product range before an industry body reaches a final outcome.
- Mennica's Valcambi withdrawal Mennica Polska · 2026-06-25
- LBMA review and Good Delivery status LBMA · 2026-06-16
04 · What to watch
Three questions for the next disclosures
Three questions track whether service expansion, export selection and supplier review become durable operating outcomes.
- Gold buybackDoes Mennica expand beyond the four new cities and disclose repurchase volume, repeat use or service economics?
- Colombia contractIs the performance guarantee lodged and the supply contract signed before 2027 production and deliveries begin?
- Valcambi resolutionWhat does the LBMA review conclude, and does Mennica restore Valcambi bars to sale?
Annual record
Ranking history
Future editions add rows; they do not rewrite the 2026 record.
| Edition | Measurement period | Rank | Revenue growth | Net-income growth | Stock return |
|---|---|---|---|---|---|
| 2026 | FY2022–FY2025 | 29 | +59% | +1509% | +231% |