Mr. Eldon Griffiths
asked the Chancellor of the Exchequer what is the number of halfpenny coins now in circulation; what estimate he has made of the number of transactions that occur each year, month or week involving halfpenny coins; what is the cost to the Mint of keeping this coin in circulation; and if he has made any assessment of the advantages and disadvantages of demonetising it.
§ Mr. Moore
At 31 March 1983 there were about 2,500 million halfpenny coins in circulation.
No estimate has been made of the number of transactions that occur each year, month or week involving halfpenny coins. The face value of the halfpenny coin exceeds the cost of production. I am considering the advantages and disadvantages of demonetisation.