“During the Covid pandemic, cash use plummeted. Since then, demand for new coins has nearly evaporated. Last year, the mint issued 15.8 million British coins, a 90 percent drop from the year before.”
Was every coin an automatic key date with these kind of numbers? I don’t collect foreign so I’m unsure if this is significant or not.
@1madman said:
“During the Covid pandemic, cash use plummeted. Since then, demand for new coins has nearly evaporated. Last year, the mint issued 15.8 million British coins, a 90 percent drop from the year before.”
Was every coin an automatic key date with these kind of numbers? I don’t collect foreign so I’m unsure if this is significant or not.
Looking at the precipitous drop, it does shine some light on progress towards a cashless society. So many people here are insistent that it can't happen. But in the UK and elsewhere, it appears to be happening without the government even incentivizing the transition.
The amount of change i got metal detecting was decent pre pandemic. Now the other side i don't see all that much because of minimal use. See above post as well
The 1 penny, 10 pence, and 20 pence coins had precipitous drops in mintages in 2023.
It is somewhat fascinating that certain denominations have 0 mintages certain years, then comeback in subsequent years with healthy/sustained mintages. A dansco album would look like a block of Swiss cheese.
@1madman said:
“During the Covid pandemic, cash use plummeted. Since then, demand for new coins has nearly evaporated. Last year, the mint issued 15.8 million British coins, a 90 percent drop from the year before.”
Was every coin an automatic key date with these kind of numbers? I don’t collect foreign so I’m unsure if this is significant or not.
Looking at the precipitous drop, it does shine some light on progress towards a cashless society. So many people here are insistent that it can't happen. But in the UK and elsewhere, it appears to be happening without the government even incentivizing the transition.
But the US still has not embraced the metric system in a widely usage manner, despite its other world usage. Perhaps we will be the last holdout for a cashless society. At least until the old guard departs.
Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
@1madman said:
“During the Covid pandemic, cash use plummeted. Since then, demand for new coins has nearly evaporated. Last year, the mint issued 15.8 million British coins, a 90 percent drop from the year before.”
Was every coin an automatic key date with these kind of numbers? I don’t collect foreign so I’m unsure if this is significant or not.
Looking at the precipitous drop, it does shine some light on progress towards a cashless society. So many people here are insistent that it can't happen. But in the UK and elsewhere, it appears to be happening without the government even incentivizing the transition.
But the US still has not embraced the metric system in a widely usage manner, despite its other world usage. Perhaps we will be the last holdout for a cashless society. At least until the old guard departs.
Well, there are higher hurdles for metric conversion based on literacy and the need to retrofit parts and every speed limit sign in the country. Changing methods of payments has fewer moving parts with the only real hurdle being the unbanked and the digital divide. You wouldn't need to reprice anything or add new technology to commerce.
That's not to say that the US may not be the last to change.
Wouldn’t a private recycling company do just as good or better than the mint if all they plan to do is recycle computer parts to make jewelry. Seems like an unusual activity for a government owned company to do? 🧐
Comments
“During the Covid pandemic, cash use plummeted. Since then, demand for new coins has nearly evaporated. Last year, the mint issued 15.8 million British coins, a 90 percent drop from the year before.”
Was every coin an automatic key date with these kind of numbers? I don’t collect foreign so I’m unsure if this is significant or not.
Quite an interesting article, especially the point about far less circulating coins being produced.
Here's the mintage figures.
https://www.royalmint.com/corporate/circulating-coin/uk-currency/mintages/
Looking at the precipitous drop, it does shine some light on progress towards a cashless society. So many people here are insistent that it can't happen. But in the UK and elsewhere, it appears to be happening without the government even incentivizing the transition.
The amount of change i got metal detecting was decent pre pandemic. Now the other side i don't see all that much because of minimal use. See above post as well
The 1 penny, 10 pence, and 20 pence coins had precipitous drops in mintages in 2023.
It is somewhat fascinating that certain denominations have 0 mintages certain years, then comeback in subsequent years with healthy/sustained mintages. A dansco album would look like a block of Swiss cheese.
But the US still has not embraced the metric system in a widely usage manner, despite its other world usage. Perhaps we will be the last holdout for a cashless society. At least until the old guard departs.
Well, there are higher hurdles for metric conversion based on literacy and the need to retrofit parts and every speed limit sign in the country. Changing methods of payments has fewer moving parts with the only real hurdle being the unbanked and the digital divide. You wouldn't need to reprice anything or add new technology to commerce.
That's not to say that the US may not be the last to change.
There will be a fine black market when cashless society is required by the government.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Wouldn’t a private recycling company do just as good or better than the mint if all they plan to do is recycle computer parts to make jewelry. Seems like an unusual activity for a government owned company to do? 🧐
Mr_Spud