The Challenges of Circulating Coins

The Coin Workshop started this year’s Banknote Conference – which took place in Fort Worth, Texas from 13-16 May – with a mix of data, storytelling, and discussion. 

Astrid Mitchell introduced the workshop with the comment that, on the surface, it appeared somewhat counterintuitive to be talking about coins at an event entitled the Banknote Conference. Nevertheless, the cash cycle comprises both banknotes and coins, and cannot function effectively or efficiently without the latter. They are therefore relevant to all cash cycle stakeholders, regardless of whether they make or issue them or not. 

She then provided a comparison of banknote and coin design changes 2019-2024, showing a high level of coin activity but an even higher level of banknote activity, by a factor of nearly four. For coins, 12 countries introduced new series in the period, eight redesigned one or more coins, 10 issued new high denominations, and five discontinued the issue of the lowest value coins. Overall, 115 coin denominations changed in some way.