Bollom Claims Copper Coin Decline Could Decimate the Coast

Arcade owners have warned that the decline of copper coins could "devastate" the economies of seaside towns. They expressed concerns that the end of 1p and 2p coins would diminish consumers' willingness to play on penny pusher machines, which rely on a continuous supply of new coins.

These concerns arose after the Treasury announced that no new 1p or 2p coins would be minted this year, citing an adequate number already in circulation. The Royal Mint produces new coins based on demand from HM Treasury.

This decision has sparked fears about the potential phase-out of copper coins, though the Treasury has dismissed such suggestions. John Bollom, President of bacta, warned that any changes could severely impact seaside economies, especially amusement arcades.

"Penny falls machines, in particular, need a steady supply of 2p coins to function. The Treasury's decision will inevitably reduce the number of coins in circulation," Bollom said. "Copper coins are integral to the seaside experience, with generations enjoying penny arcades. Our concern is that this move could eventually lead to their complete withdrawal, which would be catastrophic. We urge the Treasury to reconsider."

Seaside resorts already face some of the lowest wage levels in the country, with local economies heavily reliant on seasonal hospitality and care. The decline in cash usage, now comprising just 12% of payments, has increased the cost of maintaining coin circulation.

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1 August 2024

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