Is cash becoming redundant? The euro countries want to produce fewer coins in 2025 than in the current year: the European Central Bank (ECB) has already approved the plan.
The twenty countries that use the common currency only produce a total volume of about 2.17 billion euros. In the current year this amounted to just under 2.35 billion euros.
1.7 billion intended for daily use
From 2022 to 2023, Croatia’s entry into the euro on January 1, 2023 resulted in a significant increase to a volume of more than 2.6 billion euros. Over the past two years, the number of new coins issued amounted to approximately two billion euros.
Of the coin production planned for the coming year, a volume of approximately 1.72 billion euros is intended for daily use. There are also collectible coins worth just over 443 million euros.
Germany produces the most euro coins
Germany wants to start producing most of the coins again. The volume in Europe’s largest economy amounts to 479 million euros, of which 135.5 million euros is attributable to collector coins. With a total volume of approximately 336.5 million euros, France has the second highest value of new coins, while Spain is just behind in third place among the euro countries with almost 335 million euros.
Each year, the ECB sets an upper limit for the total volume of coin issuance, based on the needs reported by the euro states. Within this framework, the countries may then have coins minted.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
