The beginning of the end? No new £2 or 2p coins

Discussion in 'Coin Chat' started by John Conduitt, Sep 18, 2020.

  1. John Conduitt

    John Conduitt Well-Known Member

    The British Royal Mint is stopping production of £2 and 2p coins for 10 years because a drop in demand has caused a 'coin mountain'. Will they even resume after 10 years? Will we be using coins at all?
    daveydempsey likes this.
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  3. daveydempsey

    daveydempsey Well-Known Member

    I think the £2 coin is very popular, many people I know save them, its an easy way of accumulating a nest egg without really noticing it missing.

    I save them and if I receive one in change I never spend it.

    I find lots of coinage lost or hidden away in house clearances.
    It all gets saved.

    Its only recently since Covid that coinage has not been used much, but then again many places where coinage was spent have been closed.

    I sell at antique fairs and car boot sales and cash is king.

    No other payment is acceptable.

    Besides what would I do without my coin counting machines.



    spirityoda and John Conduitt like this.
  4. baseball21

    baseball21 Well-Known Member

    Your own link talks about how they would come back if needed, are we just going to keep having doomsday posts or what?
    goossen likes this.
  5. John Burgess

    John Burgess Well-Known Member

    Same thing in the u.s. with small dollar coins and $2 bills. We have a $1 bill and a $5 bill these in the middle "2" things aren't needed regularly more importantly they aren't used and neglected in commerce.if we got rid of the $1 bill there would be no choice but to use the coin, until then, everyone chooses to use dollar bills over the coin.

    In America we had a 2 cent and 3 cent coin. People preferred to regularly just use the 1 cent and 5 cent instead.

    Same thing is happening in GB. They are making. 2P coins, everyone is mostly using 1P and 5P. They are making £2 coin, most people and businesses are just using the £1 and £5 and ignoring the £2.

    Same thing in Canada. People and businesses are ignoring the "twoonie".
    Why? Because it's not "necessary".

    Not a big deal. They should stop making these "2" coins. There's no demand except for collectors or accumulators.
    John Conduitt likes this.
  6. -jeffB

    -jeffB Greshams LEO Supporter

  7. Conder101

    Conder101 Numismatist

    The original link also explains what happened. People had 6 months to exchange their old round pounds after which they would be worthless. Rather than spending time and effort searching through their coin hoards and separating them out, they just sent EVERYTHING back to the banks, and now they have a glut of coins in storage.
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