History

The Saint Petersburg Mint was formerly named the Leningrad Mint (1924) and prior to that named the Petrograd Mint (1914-1924). The Saint Petersburg Mint was founded in 1724 by Peter the Great. Peter intended for the Mint to be a modern enterprise with experienced specialists and the most modern equipment. At first, coin production was limited to only a small number of gold coins. In 1746, the Laboratory of precious metal disjunction was founded at the Mint. This assisted Russia in limiting the amount of imported precious metals it was purchasing. In 1765, the Mint introduced silver coins. By the end of the 18th century, Russia was using its own precious metals for minting. Higher demand for products created the need to establish a new building at the Mint. The construction of the new building began in 1805 and was completed two years later in 1807.

The new building was also equipped with new steam powered coin-making machines. In the early 20th century, the Mint turned to electric powered coin making. During World War I, the government evacuated the Mint and moved employees and equipment to Ekaterinburg, along with other cities. In 1918, the Petrograd Mint completely stopped production. In 1924, the Petrograd Mint was renamed the Leningrad Mint as preparations for the first currency reforms began. During the Great Patriotic War (1941-1945), the Mint was evacuated yet again, but to Krasnokamsk. It was on the premises of the Krasnokamsk Paper Mill. On August 21, 1941, by the Order of the People’s Commissariat of Finance of the USSR, the Leningrad Mint was integrated with the Association Goznak. The Krasnokamsk Branch of the Mint operated until the fall of 1946. The Mint produced medals, coins, badges and other products.

From 1961 to 1991, the Mint began producing new products for export sales. The Mint produced the majority of the commemorative coins for the 22nd Olympics Games in 1980. In 1995, the name of the Mint returned to Saint Petersburg Mint. In 2004, the Mint began producing jewelry.