A newly-formed group chaired by the Treasury is to set out a strategy for supporting access to cash nationwide.
One and two pence coins are to be safeguarded under the plans, which pour cold water over speculation they could be axed.
Larger banknotes such as the £50 note will also be protected under proposals detailed by Chancellor Philip Hammond.
An announcement was made during the Verdict of the Pyx ceremony in London, part of a longstanding coin-checking custom dating back to the 12th century.
There has also been concerns raised over the rate at which easy access to cash was being lost amid bank branch and ATM closures.
Research from Which? found this week that fees of at least 95p per withdrawal were imposed on nearly 1,700 ATMs between January and March.
Some 2.2 million people are estimated to be almost entirely reliant on cash in their daily lives, with the elderly, vulnerable and those in rural communities likely to be hardest hit by a decline.
The Treasury said the plans will complement work to support digital payment methods which continue to revolutionise and expand the ways people manage their money.
Mr Hammond said: “Technology has transformed banking for millions of people, making it easier and quicker to carry out financial transactions and pay for services.
“But it’s also clear that many people still rely on cash and I want the public to have choice over how they spend their money.
“I’m also setting up a group which brings together the Treasury, Bank of England and the regulators to safeguard the future of cash and ensure its availability for years to come.”