The Regulierspoort before the fire

The tower was originally part of the Regulierspoort, one of the main gates in Amsterdam's medieval city wall. The gate, built in the years 1480,[1] consisted of two towers and a guard house.

After the gate went up in flames in a 1618 fire, only the guard house and part of the western tower remained standing. The tower was then rebuilt in Amsterdam Renaissance style in 1620,[1] with an eight-sided top half and elegant open spire designed by Hendrick de Keyser,[1] featuring a clockwork with four clockfaces and a carillon of bells.

The name of the tower refers to the fact that the guard house on the side of it was used to mint coins in the 17th century. In the Rampjaar ("year of disaster") of 1672, when both England and France declared war on the Dutch Republic and French troops occupied much of the country, silver and gold could no longer be safely transported to Dordrecht and Enkhuizen (where coins were normally minted), so the guard house of the Munttoren was temporarily used to mint coin.

The present guard house is not the original medieval structure but a 19th-century fantasy. The original guard house, which had survived the fire of 1618 relatively unscathed, was replaced with a new building during 1885–1887 in Neo-Renaissance style. The architect was Willem Springer. An underpass between the tower and the building was made during the 1938-1939 renovation.

The Munttoren received new extra foundations to prevent it from sagging during construction of the Noord/Zuidlijn, the new metro line. The city has allocated 1.9 million euros for this purpose, according to a May 17, 2006 report in the newspaper Het Parool.