The Isle of Man’s big move to phase out little coins

The Isle of Man have shared some big news about their copper coinage, and it’s causing quite a stir in the collecting community. They have confirmed that the phasing out of 1p and 2p coins will begin this year, meaning the days might be numbered for copper coins.

Pile of coper coins
Could the Isle of Man be phasing out coppers?

Why the change?

Following a consultation in 2023 by the Manx government about whether it should keep copper coins, residents responded with “no thanks”. With a population of only 84,000, many young people on the island said they don’t carry cash at all, and most rely entirely on cards or contactless payments. The pandemic also forced islanders to adapt to card payments.

Map of the Isle of Man
The Isle of Man has a population of only 84,000
Credit: Kamran.nef, CC BY-SA 4.0, via Wikimedia Commons

Rising costs of minting new coins, especially coppers, means that making a new 1p coin now costs more than a 1p coin is worth. It’s not just the coppers either, as its estimated that a new 5p coin costs around 20p to make.

Taking these factors into consideration, the Isle of Man has encouraged businesses to introduce ‘cash rounding’ as the first phase.

What is cash rounding?

Cash rounding is the practice of rounding prices to the nearest five or zero, eliminating the need for 1p and 2p coins.

Cash rounding has been used in Sweden since the 1970s and was also adopted by Canada, New Zealand and the Republic of Ireland.

1996 Republic of Ireland Penny
Credit: Zannaoriordan, CC BY-SA 4.0, via Wikimedia Commons
1965 New Zealand Penny
1965 New Zealand Penny
Credit: Jennifer McNairMuseums Victoria, via Wikimedia Commons

Copper coins will remain legal tender on the island, and won’t be withdrawn from circulation, but no more will be minted.

Let’s hear from the Isle of Man

After the cash rounding initiative was announced, there were concerns from the public about inflation. However, businesses were quick to claim that, based on research from other countries, this would not be a problem.

The Isle of Man’s treasury minister, Dr Alex Allinson MHK, said: “Most businesses here didn’t think it would cause significant inflation. But certainly the public perception is that it would do.”

He also stated that: “If the UK were to get rid of coppers, we would probably follow suit”.

No new coppers have been minted by the Isle of Man since 2016 due to decreased demand, and even the most recent decimal coin set, the 2023 Manx Wildlife Set, didn’t feature 1p or 2p denominations – so the phasing out process has been inevitable for a while.

2023 Manx Wildlife Trust Decimal Coin Set
2023 Manx Wildlife Trust Decimal Coin Set

What about the UK?

The number of cash payments in the UK has reduced significantly in the last 10 years, and especially so since the pandemic.

According to The Royal Mint, no new 2p coins were minted in 2022 and no new pennies were minted in either 2018 or 2019. This is an indication of decreasing demand for small change, even in the UK, so it’s not surprising that the Isle of Man, with a much smaller population, would be one of the first places to implement the phasing out of coppers.

UK 1p and 2p coins
There are currently no plans to phase out UK 1p and 2p coins

Find out more about the future of 1p and 2p coins in the UK >>

A Treasury spokesperson confirmed that there are currently no plans to change the denominational mix of coins in the UK. So if the Isle of Man is waiting to follow our lead on getting rid of coppers, it’s unlikely that any definitive changes will happen anytime soon.

What do you think about copper coins? Do you still use the 1ps and 2ps in your change? Let us know in the comments!

If you’re interested in coin collecting, our Change Checker web app is completely free to use and allows users to:

– Find and identify the coins in their pocket
– Collect and track the coins they have
– Swap their spare coins with other Change Checkers

Sign up today at:

The Isle of Man Christmas £2 returns!

The Isle of Man has released a BRAND NEW Christmas £2 in the run up to the festive period!

Keen collectors will know that the Isle of Man has made some of the most popular festive coins over the years, so this is not one to be missed out on.  

2023 Isle of Man Christmas Nativity £2
2023 Isle of Man Christmas Nativity £2

A traditional design

The stunning reverse design on the 2023 Isle of Man Christmas £2 has been inspired by the iconic stained-glass window of Church Kirk Christ, Rushen on the Isle of Man. Also included on the coin is the message ‘Merry Christmas’ in both English and Manx, a feature common to most of their Christmas £2 coins.

2023 Isle of Man Christmas £2 in hand
2023 Isle of Man Christmas £2 in hand

The first King Charles III Isle of Man Christmas £2

Breaking tradition, the Isle of Man didn’t release a Christmas £2 in 2022, making this coin the first one since the passing of Queen Elizabeth II. This also means that the 2023 Isle of Man Christmas £2 is the first to feature Glyn Davies’ effigy of King Charles III on the obverse.

2023 Isle of Man Christmas £2 obverse and reverse
2023 Isle of Man Christmas £2 obverse and reverse

Your 2023 Isle of Man Christmas £2 has been struck to a superior Brilliant Uncirculated quality – the favoured specification amongst collectors! It also comes protectively encapsulated in Official Change Checker packaging.

Secure yours for just £12.50 (+p&p) >>

Previous Isle of Man Christmas coins

2021 Isle of Man Christmas Nativity £2

The last Isle of Man Christmas £2 took inspiration from the very same stained-glass window in Church Kirk Christ that features on this year’s design.

2021 Isle of Man Christmas £2
2021 Isle of Man Christmas £2

2020 ‘A Christmas Carol’ £2 coins

2020 Isle of Man 'A Christmas Carol' £2 coins
2020 Isle of Man ‘A Christmas Carol’ £2 coins

2020 marked 150 years since the passing of Charles Dickens, and so we were treated to three new Isle of Man Christmas coins, each representing a different scene from Dickens’ timeless Christmas tale, ‘A Christmas Carol’.

2019 Santa £2

The 2019 Isle of Man Christmas £2 featured Old St Nick himself, alongside the distinctive Isle of Man Triskelion (three armoured legs). The 2019 Santa £2 was so popular in fact, that some Change Checkers missed out on securing it for their collections.

2019 Isle of Man Santa £2
2019 Isle of Man Santa £2

2018 Hunt the Wren £2

2018 Isle of Man Hunt the Wren £2
2018 Isle of Man Hunt the Wren £2

The first Isle of Man Christmas £2 coin set a new tradition of festive £2 coins.

The design on the 2018 Christmas £2 pays tribute to an unusual Boxing Day tradition which takes place on the island – Hunt the Wren. The famous Manx tradition involves communities coming together to dance and sing in the streets around a wren bird, which is paraded around on a special pole.

Isle of Man The Snowman™ 50ps

Prior to 2018, the Isle of Man issued some Christmas 50ps to celebrate the festive season.

In 2003, the Isle of Man issued a 50p to celebrate the 25th Anniversary of The Snowman™. This coin was incredibly sought after by collectors, not only because it was the first ever Snowman™ 50p, but because just 10,000 were minted, making it very scarce.

The Snowman™ 50p was re-issued in 2008 to celebrate the 30th Anniversary of The Snowman™.

2003 Isle of Man The Snowman™ 50p
2003 Isle of Man The Snowman™ 50p
2014 Isle of Man The Snowman™ 50p
2014 Isle of Man The Snowman™ 50p

Another Isle of Man The Snowman™ was issued in 2014 featuring The Snowman™, James and The Snowdog™. Only 30,000 were minted, making it almost as scarce as the 2003 coin.

2023 UK The Snowman™ 50p

The Royal Mint has recently issued a 2023 UK The Snowman™ 50p, the 6th in the UK Snowman™ series! It features James and his frosty friend dancing under the Northern Lights.

2023 UK The Snowman™ 50p
2023 UK The Snowman™ 50p

Secure your 2023 UK The Snowman™ 50p for just £4.99 (+£2.99 postage) >>

Don’t miss out!

The 2023 Isle of Man Christmas £2 truly is the ideal present or stocking filler for this year’s festive celebrations.

What’s more, as this coin will not enter circulation in the UK, this could be your only opportunity to own this BRAND NEW £2.

Demand Surges for King Charles III Coin Sets

It’s an exciting time in the collecting world, with many ‘firsts’ to look forward to as we enter a new era of King Charles III coinage.

From the first ever King Charles III portrait featuring on our coins, to the UK’s first ever Coronation 50p, there’s already been some remarkable milestones celebrated on the coins you can find in your change.

These issues will undoubtedly become increasingly sought-after in years to come. But demand for King Charles III coins is already proving to be high!

In August, the Isle of Man released the FIRST King Charles III Decimal Coin Set – including all seven of their decimal coins, which lucky islanders will be able to find in their change.

Isle of Man Manx Wildlife Set

Isle of Man Manx Wildlife Trust Coin Set

I knew these coins would be popular, but I was shocked at just how quickly we sold through our allocation… In fact, all our stocks had completely sold out in just a few days!

Popularity for the first full King Charles III coin set has certainly got us thinking about what could lie ahead for UK coins and just how high the demand might be when we start to see more King Charles coins released.

So far, the 2022 Memoriam 50p and 2023 Coronation 50p have found their way into our change and we released collector maps for both so that Change Checkers can track where across the country these coins are being found.

King Charles III Circulating 50ps

If you’re lucky enough to have found the new Coronation 50p in your change, make sure you add it to our map here >>

In the meantime, I (like many other collectors) am eagerly awaiting the chance to find more King Charles III coins in my change and build up a new collection.

For almost 70 years, our definitive and commemorative coins have featured the Queen’s portrait, but with a new era of King Charles III coinage upon us, the collecting race begins once again!

Own the Queen Elizabeth II LAST Definitive Coin Set

2022 marked the final year of Her Majesty’s reign and, as such, these 2022 dated definitives coins were the last ever to be issued with the Queen’s portrait on the obverse.

We have limited stocks available, so don’t miss the chance to secure yours for just £35 (+p&p) here >>