NO NEW £2 or 2p coins will be produced for the next 10 years.

The Royal Mint claims there are enough of the coins to last for the next decade and with cash use declining, it has no plans to make any more.

Ten years ago, cash was used for six in every 10 transactions, but by 2019, that statistic was smaller than three in 10.

Coronavirus may have accelerated that decline further, with National Audit Office figures revealing the demand for notes and coins fell by 71 per cent from early March to mid-April.

The government body said the elderly and people on lower incomes are the groups who rely on cash the most.

The Argus: Is the 2p on the way out?Is the 2p on the way out?

In March, the government unveiled legislation to protect future access to cash, with these groups in mind.

But expert forecasts predict coins and notes may be used for just one in 10 transactions in the UK by 2028.

Gareth Davies, the head of the NAO, said: "As society progresses towards the wide use of digital payments, the use of cash in transactions is dwindling.

"It may become harder for people to access cash when they need it and those without the means to pay digitally will struggle if cash is not accepted.

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"HM Treasury now works more closely with the public bodies in the cash system to achieve the government's goal of safeguarding access to cash."

But he described the approach as "fragmented" and "not clear".

A Treasury statement said it is "currently developing new legislation to ensure people can get hold of cash when they need it and that the UK's cash infrastructure remains sustainable".