Balıkesir Deputy Burak Dalgın brought coin production costs and emission losses to the agenda of the Grand National Assembly of Turkey. In his parliamentary question submitted for the response of the Minister of Treasury and Finance Mehmet Şimşek, he raised critical questions about the cost of coins and their impact on the state budget.
Recently, there has been a similar debate in the United States of America, and President Donald J. Trump had instructed to stop the minting of new coins by drawing attention to the high cost of coin production. Stating that there is a similar situation in Turkey, Dalgın emphasized that the cost of minted coins is above their nominal value.
COST OF COIN PRODUCTION IS A SERIOUS BURDEN
Dalgın stated that the economic crisis in Turkey and the increase in exchange rates directly affected the costs of coin production and pointed out that this situation created a serious financial burden on public resources. Stating that the current production policies should be reviewed, Dalgın asked the following questions on the subject:
-How much is the production cost of coins minted in 25 kuruş, 50 kuruş and 1 TL?
-How many 25 kuruş, 50 kuruş and 1 TL coins were minted in 2024?
-How much was the emission loss caused by these transactions?
-How many 25 kuruş, 50 kuruş and 1 TL coins are planned to be minted in 2025?
PRODUCTION COST OF 1 TL EXCEEDED 3 TL
Last December 2024, CHP Ankara Deputy Deniz Demir announced that the production cost of 1 TL coin exceeded 3 TL.
MINT’S SAVINGS WERE NOT ENOUGH
In his written statement, Demir evaluated the changes in the production processes of coins and their economic effects. Demir stated that the General Directorate of Mint and Stamp Printing House has reduced the weight of coins in order to reduce costs and used the following statements:
‘The 1 TL coin was reduced from 8.2 grams to 6.6 grams and the 50 cent coin was reduced from 6.8 grams to 5.5 grams. The copper, zinc and nickel ratios used were also changed. Although 30 per cent savings were achieved with these measures, costs increased due to the increasing exchange rate.’
Source: paraanaliz.com