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miser | 09:05 Sun 09th Jun 2024 | Business & Finance
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Would it not be sensible to withdraw 1p and 2p coins? It would mean that businesses accepting cash payment would have to adjust their prices but these coins really are a nuisance. Some people would claim that it would be inflationary but compared with recent price rises the effect would be insignificant.

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"In 2019–20, the Treasury incurred UK coin production expenses of £23.6 million"

https://publications.parliament.uk/

Vulcan, "According to figures on the Mint’s website, the mintage for 2ps in 2022 was zero, following a mintage of 117,700,000 in 2021 for this coin denomination.

 

It is not the first year that no 2ps were minted, with mintages for the years 2018, 2019 and 2020 also at zero for this coin."

No, removing small coins fuels inflation.

^^^ a somewhat muted wail of anguish from a traditionalist!

(I just checked my coin purse - £5 in silver & 6p in copper. It looks like copper is dying naturally.) 

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