MINISTERS were last night accused of “selling off the family silver” by moving to privatise the Royal Mint.

Unions lashed out after the Treasury announced that the body was being given company status as part of preparations for an injection of private cash.

The change, revealed in a Government efficiency report, is designed to free up the Mint to take advantage of “commercial opportunities”.

“There is now a strong case for the introduction of private capital into the Royal Mint,” the document states.

“This will best allow the business to pursue further commercial opportunities and grow, taking advantage of the resources and opportunities which come from moving outside the public sector.

“It will cement the Royal Mint’s position as a high-quality British manufacturing success, competing and winning in global markets.”

The process of “vesting” the Mint as a company – which was started in 2004 but later halted due to its poor performance – should be complete by the end of the year, according to the report.

But the Public and Commercial Services Union insisted the Government was getting ready to “sell off the family silver”.