The London Mint Office, a significant distributor of numismatic items, is preparing to appoint administrators after two decades of operation. Law firm TLT filed a notice of intention to appoint an administrator for the company in the English High Court on Tuesday.
Founded in 2006, The London Mint Office is the UK entity of the Netherlands-based Samlerhuset Group, which is Europe's largest coin company. Samlerhuset, a Norwegian company, also owns The Mint of Norway, which manufactures the Nobel Peace Prize's 18-carat gold medals.
The London Mint Office acts as a major retailer for collectors, offering items celebrating British royalty and military anniversaries. It also distributes for various international mints, including The Royal Australian Mint and The Royal Canadian Mint.
According to accounts filed for 2024, the company reported a net pre-tax loss of nearly £1.8m, attributed to challenges from the adoption of new IT systems. The move to appoint administrators follows reports that the company was in talks for a sale after restructuring firm Alvarez & Marsal was brought in to secure a deal.