Italy's Euro coin issuance trends, 1- and 2-cent production halted
Banca d'Italia data shows the net issuance of Euro coins in Italy from 2002 to 2025. Production of 1- and 2-cent coins was discontinued in Italy as of 2018, impacting overall issuance trends.
Shifting patterns in coin circulation
Banca d'Italia's data on net Euro coin issuance from 2002 to 2025 reveals significant shifts in circulation patterns, particularly for lower denominations.
The total number of coins issued reached 18,666 million pieces, amounting to 5,458 million euros over the period.
Notably, the issuance of 1- and 2-cent coins saw substantial declines, with negative net issuance recorded in several years, indicating more coins were withdrawn than lodged.
For instance, 1-cent coins showed negative issuance from 2019 to 2021, and 2-cent coins from 2019 to 2020 and again in 2024 and 2025. This trend reflects a broader reduction in the demand and utility for these smallest denominations, culminating in their eventual discontinuation of production in Italy.
The end of 1- and 2-cent production
A key development impacting these trends is the discontinuation of 1- and 2-cent euro coin production in Italy as of 2018, as highlighted in the data's footnotes.
This policy decision directly influenced the subsequent net issuance figures, where negative values for these denominations became more common.
Net issuance, defined as the difference between coins withdrawn from and lodged at the Bank of Italy, provides insight into the actual circulation needs.
The shift away from producing the lowest value coins aligns with efforts to streamline cash handling and reduce the costs associated with their minting and distribution, reflecting an evolving landscape of payment preferences.
Practicality over tradition
The data on Euro coin issuance underscores a pragmatic adaptation to changing economic realities and consumer habits.
Discontinuing the production of 1- and 2-cent coins, while a minor policy adjustment, reflects a broader trend towards efficiency in cash management.
This move, therefore, signifies not an abandonment of physical cash, but rather a rational optimization of its composition to better serve contemporary payment needs.