Pat Upton
Question:53 Dr. Upton asked the Minister for Finance the value of 1p coins, 2p coins, 5p coins, 10p coins, 20p coins, 50p coins and £1 coins which are lost or disappear from circulation each year. [3030/95]
Written Answers. - Value of Coins.
While there are no published estimates of the percentage of coins "lost" from circulation in this country every year, the Central Bank has carried out a number of internal surveys in recent years. I understand that they tend to show relatively low rates of loss for the higher denominations, while "losses" appear to be more significant for lower denominations.
Certainly demand for 1p and 2p coins continues to run at very high levels. I would, however, point out that changes in the coinage (new £1 and 20p denominations and new design of 5p and 10p coin) have disrupted traditional patterns of circulation.
I understand the experience internationally in relation to coinage "losses" is somewhat similar.