google-site-verification: googlec7193c3de77668c9.html
Wednesday , October 21 2026

Treasury denies 1p and 2p coins are to be scrapped

“We are confident there are enough coins in the system without the need to order more this year,” the Treasury said.

It also estimated that there were currently around 27 billion coins in circulation in the UK.

The Treasury calculates how many coins are needed and orders new stocks from the Royal Mint, which produces coins. Coins are typically in circulation for decades.

There were several years in the early 1970s and early 1980s when no 2p coins were produced.

No 1p or 2p coins were produced in 2018 and then-Chancellor Philip Hammond launched a consultation on the future of cash.

However, the following year the Treasury said they would continue to be used “for years to come”.


Source link

Advertisements

See also  Biggest US tech sell-off for over a decade reflects impatience over AI profits | Business News

Check Also

Elon Musk says merger of Tesla and SpaceX would be a ‘good idea’

Elon Musk has said he likes the idea of a merger of Tesla and SpaceX, …

OpenAI CEO Sam Altman wins dismissal of sister’s lawsuit

OpenAI chief executive Sam Altman has won a dismissal of a lawsuit brought against him …

Drivers set to get new rights to challenge 'rip-off' private parking fines

Drivers are set to receive new rights to stand up to unfair private parking fines, …

Leave a Reply

Available for Amazon Prime