The Royal Mint has announced it is to stop producing two coins as the demand for cash falls and cashless transactions rise.
It will stop minting £2 coins and two pence coins, it has announced.
And the pause will last for at least 10 years, due to an abundance of the coins in circulation, the Mirror reports.
It comes as a new report shows the coins were used in less than three in 10 transactions last year, compared to six in 10 a decade ago.
The National Audit Office (NAO), which carried out the report, said the coronavirus outbreak may have accelerated the trend as customers were encouraged to make contactless payments.
Coin manufacturing has been reduced by 65 per cent by the Royal Mint as stocks of every coin in circulation are exceeding targets.
The Royal Mint says it is now sitting on "26 times more £2 coins than the public need". The value of the excess coins is said to be worth around £89 million.
A spokeswoman for The Royal Mint reassured the public by saying 2p and £2 coin production could return if needed.
However, it said pennies are still in production, with 60 million more 1p coins produced this year due to a surge in demand from businesses at the start of the pandemic. It is not clear what prompted the spike.
"We constantly monitor the demand for coins from the banks and Post Offices, and seek permission to manufacture more from HM Treasury," the spokeswoman said.
But there are concerns about the impact on millions of vulnerable people in society - who rely on cash.
Meg Hillier, chair of the House of Commons' Public Accounts Committee, said: "Cash use might be declining overall, but it remains a vital part of millions of people's lives - particularly for some of the most vulnerable in society.
"The government took its eye off the ball and too many people already have to go out of their way to get their hands on cash.
"It and the regulators will have to hurry to catch up with fast-moving technology, or even more people could be left behind."
Gareth Davies, head of the National Audit Office, said the government's approach is fragmented and "it is not clear that the action being taken will keep up with the pace of change.
He added: "As society progresses towards the wide use of digital payments, the use of cash in transactions is dwindling.
"It may become harder for people to access cash when they need it and those without the means to pay digitally will struggle if cash is not accepted."
