The town's mint was already in existence at the time of the granting of royal privileges. Starting in 1335 the mint produced golden florins and later the famous "Kremnica ducats", which were used as an international means of payment as a result of their consistently high purity of gold. It was the most important mint, and later the only one, in the Kingdom of Hungary, in Czechoslovakia and nowadays in Slovakia; the prosperity brought to the town led to it being given the nickname "Golden Kremnica".