Ok, I accept that 122 million outstanding coins is a lot of metal. However there’s untold ways these old £1 coins are ‘missing’. For starters, you could probably account for a few million that have been dropped in cars, behind the backs of seats, stuck down in the seat rails seemingly unretrievable. Then a lot of those cars go to scrap and get melted down.
Then I’ve seen oodles of £1 coins end up in the tips tray of coach drivers in Egypt and Cape Verde amongst other places, never to return to the UK but probably chucked in draw and forgotten about, just another foreign coin.
And of course the collectors all over the world that will keep a coin.
Oh, and all of those sofas that have gone to landfill, probably millions sitting in the ground.
To be honest, I’m sick to death of coins. They are nothing but a bloody nuisance.