In the last 800 years, many different minting methods have been employed there. Up to the 16th century the minting hammer was used for striking coins. The roller press, rocker press and screw press followed, while ring striking, which produces an even round shape, has been in use since c. 1830. It basically still is today, although up to 750 coins per minute can now be minted by its modern manifestation. Over the years, mints were established and coins struck throughout Austria in towns and cities such as Graz, Krems, Salzburg, Innsbruck and Villach. However, with the formation of the Republic of Austria in 1918, the Vienna Principal Mint became the country’s one and only mint and remains so today. In 1989 its name was officially changed to the Austrian Mint and it became a subsidiary of the Austrian National Bank. Today the Austrian Mint is a global player in the business of supplying means of payment. Its beautifully crafted coins minted in the very heart of Vienna are highly sought after by investors and collectors all over the world, as well as by those simply looking for a worthy and suitable gift for a loved one.