Article preview: When was the last time you used cash? The Covid-19 pandemic appears to have accelerated the decline of cash use, as we move increasingly to card and contactless payments. Now, the Royal Mint has said it has no plans to create any new 2p or £2 coins for the next decade. The production-freeze is the result of a so-called coin mountain, with a large enough supply of the coins in storage because the demand for the coins has fallen so dramatically.
No more £2 or 2p coins as cash use declines
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This 544-word blog post looks at a new National Audit Office report which found The Royal Mint doesn’t plan to make any new £2 or 2p coins for the next decade, due to declining demand for cash and too many coins already in circulation. Written on 18th September 2020.
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