top cx logo
cx logo
Explorearrow down
search icon
arrow down

French mint calls for €5 coins

Notes need replacing too often and using coins instead would be cheaper, Monnaie de Paris says

FRENCH money authorities are campaigning for the European Central Bank to replace €5 notes with coins instead.

The Monnaie de Paris believes coins would save on production costs - €5 notes need replacing after about a year, while a coin would have a lifespan of at least 40.

The head of the French mint, Christophe Beaux, said: "If we used €5 coins instead of notes, the eurozone would save €10billion."

The European Commission is preparing a study on how to reduce the cost of producing money - but the ECB is said to be opposed to France's idea.

If it ever was approved, the move would keep the French mint busy - it is producing 800 million coins of different denominations over the next three years, but output is expected to decline thereafter.

French euro coins are made at a factory in Pessac in the Gironde and it has had to rely increasingly on souvenir coins and medals to stay profitable recently.

Resident or second-home owner in France?
Benefit from our daily digest of headlines and how-to's to help you make the most of life in France
By joining the newsletter, you agree to our Terms & Conditions and Privacy Policy
See more popular articles
The Connexion Help Guides
featured helpguide
Healthcare in France*
Featured Help Guide
- Understand the French healthcare system, how you access it and how you are reimbursed - Useful if you are new to the French healthcare system or want a more in-depth understanding - Reader question and answer section Aimed at non-French nationals living here, the guide gives an overview of what you are (and are not) covered for. There is also information for second-home owners and regular visitors.
Get news, views and information from France
You have 2 free subscriber articles left
Subscribe now to read unlimited articles and exclusive content
Already a subscriber? Log in now