Posted by AdviserDirect on 08/08/2019

Royal Mint makes no 1p or 2p coins for first time in decades

Royal Mint makes no 1p or 2p coins for first time in decades

The Royal Mint produced no 1p or 2p coins last year.

For the first time since 1972, no 1p coins were struck for circulation in 2018-19 – and for the first time since 1984, no 2p coins were produced.

The Royal Mint produces coins, which can last decades, in response to requests from the Treasury to meet the needs of the economy.

The Treasury also said no £2 coins were produced last year, as there were already enough in circulation: about 494m.

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