All change? Future of 1p and 2p coins in doubt as demand falls

Treasury says copper coins and £50 note are used infrequently in era of digital payments

The future of 1p and 2p coins and the £50 note is in doubt after the Treasury said demand was in sharp decline as consumers turn their backs on cash in favour of contactless payments.

Launching a review of cash and digital payments alongside the spring statement, the Treasury said it did not make economic sense to produce coins and notes that were used infrequently.

Continue reading…

Source-Click here