Dáil Éireann Debate, Thursday - 2 May 2013
53. Deputy Pearse Doherty asked the Minister for Finance further to reports that it costs the State 1.65c to create a 1c coin, if he will confirm the unit cost of creating the following specie - 2c, 5c, 10c, 50c, 1 euro and 2 euro. [20862/13]
View answerThe average cost of producing each coin denomination is as follows:
|
Coin denomination |
Unit cost |
|
2c |
2.07c |
|
5c |
3.01c |
|
10c |
5.16c |
|
20c |
6.76c |
|
50c |
8.27c |
|
1 Euro |
9.75c |
|
2 Euro |
14.25c |
In any given year the cost of striking each denomination of coin is dependent upon the total volume and combination of coins produced. It should also be noted that material costs can fluctuate. Economies of scale are an important element in the allocation of costs. In years of high production the average cost of production per coin falls and vice versa.
