The Royal Dutch Mint was founded in Utrecht in 1567, placing it among the oldest businesses in the Netherlands. During the 16th century, the Netherlands was home to a number of mints, each of which struck their own currency. In 1806, it was decided that the country should have one, central mint – the Utrecht Mint – and a single national currency. After many years as a State-run institution, the Mint became an independent commercial organisation in 1994. The Dutch State remained involved as 100% shareholder. In 1999, the Mint was granted the right to bear the prestigious ‘Royal’ predicate. The King of the Netherlands reserves this predicate for a select group of Dutch businesses, as it symbolises the King’s respect, trust and appreciation for those organisations. In 2016, the Royal Dutch Mint became the first European mint to privatize its operations. This step enabled the Mint to improve its responsiveness, customer service and efficiency by means of a more effective decision-making structure and the ability to pursue long-term goals and strategies.