Royal Mint to stop production of £2 and 2p coins due to excess stock

Slump in cash use was accelerated by pandemic, with demand falling 71% between March and April

The Royal Mint will not produce any new £2 or 2p coins for at least a decade, as its stocks remain high because of the slump in use of cash, a trend that has accelerated during the coronavirus pandemic.

The rapid decline in demand for coins has left the Mint, which has been producing coins in Britain for more than 1,000 years, with a mountain of excess stock.

Continue reading…