Production of 2c coin costs 2.07c

It costs the State more than 2c to make 2c, the finance minister has confirmed.

In a written Dáil response to Sinn Féin’s Pearse Doherty, Michael Noonan said the cost of producing the 2c coin was 2.07c.

Last month, a National Payments Plan published by the Central Bank proposed the abolition of the 1c and 2c coins on a pilot basis. In that report, the cost of producing the 2c coin was put at 1.94c and the cost for the 1c coin at 1.65c.