09 September 2019
A new conference, set to be held in Rome this month, will examine the future role and challenges of circulating coins, with experts noting that rising material costs, hoarding, the removal of low value coins, and the growth of m-payments and contactless cards are ‘chipping away at the use of coins for low value payments’.
The fifth international Coin Conference, being held in Rome from 14 to 16 October, will look at how the production and circulation of coins can be optimised to ensure their continuing role in the cash eco-system.
Central banks and issuers will join mints and suppliers to discuss and share ideas in a series of sessions covering key aspects of the worldwide circulating coin industry, including maintaining public confidence, the merits of new technologies for greener and cleaner coins, different denomination structures, removing lower denominations, and the social and economic benefits of coins.
Conference Co-Chair Astrid Mitchell said:
‘Coins as part of an effective cash strategy offer choice, freedom and financial inclusion for billions of people across the world. But equally the future for payments is rapidly evolving. Above all, coins need to be relevant, accessible, cost-effective (both in terms of production and circulation) and secure. The Coin Conference is directed at ensuring extensive debate and critical examination of how these objectives can be met.’
The conference will also feature an exhibition from some of the leading mints and technology suppliers, a technology showcase, and a tour of the Banca d ’Italia printworks and the Italian Mint museum.
Find out more at www.thecoinconference.com
Despite the challenges pointed out, a recent report suggests cash usage continues to grow in many parts of the world, with cash in circulation relative to GDP increasing to 9.6% across all continents, up from 8.1% in 2011.