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People urged to stop hoarding copper coins - and spend them

The Central Bank is urging the public to smash open their piggy banks and start using their coppe...
Newstalk
Newstalk

12.07 8 Dec 2014


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People urged to stop hoarding...

People urged to stop hoarding copper coins - and spend them

Newstalk
Newstalk

12.07 8 Dec 2014


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The Central Bank is urging the public to smash open their piggy banks and start using their coppers.

Ireland has issued almost 2.5 billion one and two cent coins, worth around €35.3m.

This is more than three times the European average per head of population.

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They go out of circulation quickly because people generally do not use them, and instead leave them in money boxes in their homes.

This means shops need to constantly refresh their supplies for change, which costs a lot of money.

The Central Bank is advising that if this trend continues, it will be difficult to keep up with the demand.

Ronnie O'Toole from the Central Bank is asking the public to use the coins - for example by donating them to charity.


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