Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what the manufacturing cost per unit is for the (a) current and (b) new £1 coin.

The total cost of producing UK coinage is provided annually in the Treasury Annual reports and Accounts. However, the cost of producing individual denominations of UK coins is commercially sensitive information.

The government is satisfied that the new £1 coin represents value for money and delivers significant improvements in security.

The use of nickel-brass in the material composition of the new coin will enable The Royal Mint to reuse metal obtained from withdrawn round £1 coins for use in the new coin, generating a saving for taxpayers.