Banknote-mint of Ukraine – history of creation and prospects

Abstract

The aim of this study was to analyze the peculiarities of the hryvnia issue at the times of the Ukrainian Peoples Republic, the main achievements and problems on the way to providing the state with the money supply, the process of developing high-tech production with a completed cycle – Banknote Factory and Mint. The methodology involved the use of synthesis as well as historical (comparative, analytical, complex, and integral) and historical-genetic methods of scientific research for studying and analyzing the development of money circulation in the analyzed period. The statistical and factual basis of the study included the laws adopted by the Verkhovna Rada of Ukraine, regulations of the National Bank of Ukraine, statistical publications and the authors’ own research. The scientific novelty lies in a systematic study of the characteristics of money circulation during the period of independence, the main stages on the way to the hryvnia, the complexity of the transition period, the process of making secure paper, the degree of hryvnia protection, current trends in banknote and coin analysis, with special emphasis on commemorative and investment coins. Own currency has always been a symbol of sovereign states; therefore, it is important to describe the succession of the hryvnia in three key periods of our history: the Kyiv state, the Ukrainian People’s Republic and independent Ukraine. The existence of a unique closed loop production in Ukraine, which successfully performs its main function of providing the population with banknotes, was analyzed and confirmed, and the characteristics of souvenir production were described, paying particular attention to commemorative coins – the national brand of the state, which represents and popularizes the most important milestones of history and culture.