The Place de la Monnaie takes its name from an old coinage workshop or mint, erected inside the former Hôtel Ostrevant, which, from the 14th to the 16th centuries, occupied most of the current square.

[1][2] The name of this site—La Monnaie (originally spelled La Monnoye[3]) in French or De Munt in Dutch (both meaning "The Mint")—remained attached to the square for the centuries to come.

This building was decommissioned in 1649 and replaced in 1700 by a theatre, known as the Grand Opera,[4] by the Italian architect and treasurer of Maximilian II Emanuel, Elector of Bavaria, Gio Paolo Bombarda.

[5][6] Bombarda established his theatre on this site in order to take advantage of the large empty space left after the bombardment of Brussels of 1695 by the French army.

[7][6][8] Around that time, it was decided to create a large square all around this theatre in order to highlight it; this was the embryo of the Place de la Monnaie.

The plan was to make the urban space more pleasant by freeing it from the elements that encumbered it; to highlight the monuments flanking it, in particular the Royal Theatre of La Monnaie; as well as to promote its use for entertainment, festivities, or daily use.