Michael McGrath (Cork South Central, Fianna Fail)
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70. To ask the Minister for Finance if he will provide details, for each year since the introduction of the euro in Ireland, of the quantity and value of each denomination of Irish euro coins, for example, the number of one cent coins for each year, number of two cent coins for each year; and if he will make a statement on the matter. [15947/14]

Michael Noonan (Limerick City, Fine Gael)
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The Central Bank of Ireland, acting as agents for the Department of Finance, issues euro coin into circulation. The issuance of coin is demand driven. Since the introduction of the euro, nearly five billion pieces of coin have been issued by the Central Bank. The 1 cent and 2 cent coins account for 60% of those issues. The following tables give a detailed breakdown per year. In 2001, as preparation for the launch of the Euro, 970 million coins were frontloaded to the cash cycle and are not included in the following tables.

In 2013, based on a recommendation of the National Payments Plan, the Central Bank ran a trial in Wexford town whereby cash transactions were rounded to the nearest five cents of the total cost at the till. Participation in the trial was voluntary on the merchant's part and on the customer's part. The Central Bank has submitted report on the trial to me which recommends the national rollout of a voluntary rounding scheme which would potentially reduce the demand for 1c and 2c coins and the associated production, storage and issuance costs. This issue is under examination in my Department.

Number of coins (million) Issued 2002-2013

Value of coins (€million) Issued 2002-2013