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The Mint was established in 1829 by the then governor
of the Bombay Presidency. The main activity of the mint is in the production
of commemorative and development-oriented coins. The mint is situated
just opposite the Reserve Bank of India in the Fort area of South Mumbai.
Initially governed by the Governor of the Bombay Presidency,
it was transferred to the Government of India on 18 May 1876 through a
Finance Department Resolution 247. In 1918, a branch of the Royal Mint
of London was set up to issue British sovereigns. In April 1919, after
manufacturing 12.95 lakh (1.295 million) coins, it was shut down.
Besides coins, the Mint also produces medals of various
types, for Ministry of Defence, Ministry of Home Affairs, educational
institutions, social service institutions, badges etc. It is also a centre
for the issuance of gold ingots in exchange of unrefined gold tendered
by licensed dealers. The institution also has a separate department that
makes official weights and measures such as metric weights, capacity,
and linear measures for state governments, laboratories and the Bureau
of Indian Standards.
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