Overview of a major scrap metals sale tied to the National Mint and Stamp Factory
A few weeks earlier, the National Mint and Stamp Factory, operating under the Ministry of Finance, organized a closed sale of demonetized coins and some euro notes from the Bank of Spain. The auction aimed to sell these items as scrap metal, and the event moved a substantial amount of material. Reports from a prominent Spanish newspaper placed the total weight at more than 360,180 kilograms, with a valuation near 100,000,000 euros. The process was time-bound, with bids required to be submitted by a defined date to determine the best economical offer.
About a month after the initial sale, the Royal Mint published the bids on its Government Procurement Portal. In total, six bidders submitted 29 financial offers across ten lots up for auction. It drew attention that several offers originated from abroad. Three bidders were scrap metal companies from Slovakia, Switzerland and Great Britain, identified as Monea Coin Technology SRO, Thommen AG and Arrendene MFG Limited respectively.
The remaining bids carried a Spanish footprint. Semsa JP, a precious metals wholesaler, was the sole competitor to bid on the first three lots where the metal was primarily silver. Predictably, awards were anticipated to be announced in the following weeks. Pablo Sanza, a salvage operator with Spanish roots, submitted bids on three lots but intended to claim only one if successful.
A sixth participant, Sara Ruiz San Martino, took part as an individual bidder. Various business data portals show her as registered with social security as a wholesaler of scrap metal and waste products. One participant confirmed that this individual frequently engages in such auctions with the aim of reselling metals to other scrap dealers and related companies. The entrepreneur bid on seven of the ten lots, while three were withdrawn for not meeting minimum thresholds. If the remaining four bids remain valid, two separate awards would be issued, with the highest bids reaching 368 percent and 25 percent more than the runner-up, respectively.
In the end, the standout beneficiaries of the National Mint and Stamp Factory auction appeared to be Sara Ruiz, Semsa, and Pablo Sanza. The Swiss firm Thommen AG also held a significant stake if the plan for a broader win materializes. The metals involved in these batches were described as varied and valuable, including alloys such as lunifal, Nordic gold, copper-nickel, and biometallic materials.
What is the purpose of this scrap?
Speaking to the press, Pablo Sanza, the spokesperson for the salvage firm, explained that the primary use for these metals is remelting and converting them into sheet metal. He noted that substantial portions of the material will likely be allocated for steel production and other metal products after the refining and molding processes. The firm purchases the metals, melts them down, and then supplies factories according to demand and specifications. This cycle supports a range of downstream manufacturing activities and helps integrate recovered materials into new products.
The communications team for the National Mint and Stamp Factory stated that the scrap material includes aluminum, which has appeared in previous auctions, and various copper-nickel alloys destined for different industries. Aluminum bronze has historically been used in coinage, notably coins of smaller denominations, and in large-scale applications such as ship propellers. Other metals, including aluminum and magnesium, have found roles in the food sector, the automotive supply chain, and construction. Silver of standardized purity has practical uses in electronics and industrial production, including cutlery and medal fabrication.
Overall, the auction highlights how demonetized and retired currency, along with associated metallic components, can re-enter production streams. The process demonstrates a loop from decommissioned monetary materials to re-purposed raw materials used in a broad array of modern manufacturing and engineering contexts. The outcome emphasizes efficient asset recovery and the potential for domestic and international participants to contribute to a circular economy around precious and base metals.