Annex
YEAR END
Some members experienced processing/supply problems
in November/December owing to late deliveries from the Royal Mint:
specifically £1 and 50p coins. The 20p coin was also in short
supply.
Co-operation between members avoided any serious
"stock out" positions.
With the exception of bronze, coins stocks at
the end of 2000 are well up on 1999 but down on 1998, bronze and
£2 excluded. (Bronze levels at each of the three-year ends
have remained consistent.)
FORECASTING
Up to the end of quarter three, total coin bought
from the Royal Mint as a percentage of the original forecasts
was as follows:
| Denomination |
Percentage | Comment
|
| £2 | 64
| Original forecast reduced during Q2: revised % = 93
|
| £1 | 93
| |
| 50p | 40 |
Cancelled orders for coin not delivered on time
|
| 20p | 62 |
|
| 10p | 63 |
|
| 5p | 77 |
|
| 2p | 73 |
Requirement forecast for Q4 |
| 1p | 82 |
Requirement forecast for Q4 |
It is anticipated that with one year's detailed forecasting
and tracking almost complete, member forecasts will be closer
to actual demand across all denominations.
Bearing in mind the Royal Mint's request for a percentage
of the forecast to be for a firm order and subject to the "notice"
rules for increasing/decreasing the order being confirmed, it
is proposed (if requested by the RM) that the start point is 60
per cent.
The following caveat should apply:
The RM recognises that members must receive adequate notice
of any action by the Royal Mint or Bank of England, which is likely
to impact on the demand for a given denomination. For example,
Bank of England action to boost the number of £5 notes in
circulation is likely to reduce the demand for £1 coins and
hence the order.
| 
