Historic British coin firm collapses into administration after 20 years as staff redundancies announced

The London Mint Office has entered administration after 20 years in business, with immediate redundancies announced following the appointment of joint administrators.

Michael Magnay and Jonny Marston of Alvarez & Marsal Europe LLP were formally appointed on July 31, according to a notice published on the company’s website.

The firm, founded in 2006, supplied historic, commemorative and collector coins and medals to customers across the UK. Its website now states that purchases can no longer be made through the platform.

A spokesman for Alvarez & Marsal said: “Regrettably, the Company’s liquidity challenges have led to a number of immediate redundancies.

"We are supporting the affected employees through the redundancy process.”

He added that the company’s affairs, business and property are now being managed by the joint administrators.

The administrators are responsible for overseeing the company’s remaining assets and stock, with customers and interested parties asked to contact them directly.

The London Mint Office operated from a London head office and a distribution and processing centre in Tonypandy, Rhondda Cynon Taf, where a significant proportion of its workforce was based.

Its LinkedIn profile lists between 51 and 200 employees, though its most recent accounts show the business employed 248 people in 2024.

The company also had links to the Welsh community, including a 2018 donation to Porthcawl Museum featuring Second World War Dambusters briefing documents and a commemorative coin.

The London Mint Office is a privately held subsidiary of Samlerhuset AS, a Norwegian group headquartered near Oslo.

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The London Mint Office worked alongside sister companies across Europe and stated on its website that it had no official connection to the UK Government or the Royal Mint.

The Royal Mint, owned by HM Treasury, is responsible for producing Britain’s official circulating coins and bullion.

The appointment of administrators means the London Mint Office’s affairs, business and property are now under the control of insolvency practitioners.