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Braybuddy
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Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 8:46 pm

While sorting and bagging a bowl of loose change this morning I noticed how most of the copper coins are new or almost new. We've had the euro now for four and a half years, yet the smaller coins are still new. Why? I can only come to the conclusion that they keep getting lost because people don't bother about them, therefore the govenment has to keep minting new ones to keep them in circulation. Virtually all the 1c and 2c coins in the bowl were newly-minted or only showing slight discolouration, while of the 5c ones most had evidence of lustre on them.

Really it's time the two smaller denominations were abolished. They are too small for a start, and nearly everything outside supermarkets is priced in 5c (or higher) increments.

Australia had the right idea years ago when they abolished their smallest denomniations, and Finland didn't even mint these two coins, so when is the rest of the eurozone going to follow suit?

[Edited 2006-07-21 13:48:18]
 
Joge
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 8:51 pm

Quoting Braybuddy (Thread starter):
Finland didn't even mint these two coins

Yes they did, but they weren't in use for long time. There are few around. If you see one, keep it! I got one Finnish 2c coin.  Smile

-Joge
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DAL767400ER
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 8:54 pm

Definitely agree with you. Each one of my parents and myself has a glass full of this useless money, not to mention the plethora of them at work. Of course, occasionally we roll them and bring them to the bank but still, they are annoying.
It's just too bad that most companies still believe prices of XY,99 or A,48 will catch more interest than prices like 1,00 or 0,50. Well, for some of them it might work, but the majority of people are just getting annoyed. Really, the 5-cent coin should be the smallest coin available. And even if you have a net sum that has a gross of something like 53,43 then it can still be paid via EC, credit card or online, neither of which needs change anyway.
Could all be abit easier, but likely won't happen.
 
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KaiGywer
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 8:59 pm

Quoting DAL767400ER (Reply 2):
It's just too bad that most companies still believe prices of XY,99 or A,48 will catch more interest than prices like 1,00 or 0,50

Well, this can be accomplished by rounding. In Norway, they cut the 10 øre denomination in 1993 (I believe). There are still prices like 19.90 and such, but you'll pay 20. 0.00-0.24 is rounded down to the whole, 0.25-0.74 is rounded to the 0.50, and 0.75-0.99 is rounded up to the whole.

Works great. When getting gasoline and paying cash, always fill it to xx.24 to get the most value  Wink
“Once you have tasted flight, you will forever walk the earth with your eyes turned skyward, for there you have been, an
 
DAL767400ER
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 9:14 pm

Quoting KaiGywer (Reply 3):
Well, this can be accomplished by rounding. In Norway, they cut the 10re denomination in 1993 (I believe). There are still prices like 19.90 and such, but you'll pay 20. 0.00-0.24 is rounded down to the whole, 0.25-0.74 is rounded to the 0.50, and 0.75-0.99 is rounded up to the whole.

Works great. When getting gasoline and paying cash, always fill it to xx.24 to get the most value

Sounds like a good idea that I would support, but that won't happen here in Germany, as most Germans have become way too greedy. Here, people say stuff like "Oh, you sell that ink cartridge for €4? Too bad, I have seen it at Mediocre Markt for only €3,90. Looks I will buy it there instead."
Ridiculous, but this attitude by customers is one of the main factors that's killing us  Yeah sure .
 
Airdolomiti
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 9:15 pm

I'm in favor of abolishing the 1c and 2c coins, too, and I'd really like to see €1 and €2 notes. IMO, as it is now, having the smallest note at €5 really distorts your perception of how much money you actually have.
 
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Braybuddy
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 9:23 pm

Quoting DAL767400ER (Reply 4):
Here, people say stuff like "Oh, you sell that ink cartridge for €4? Too bad, I have seen it at Mediocre Markt for only €3,90. Looks I will buy it there instead."

That can still be done as there would still be 5c and 10c coins. For shops which price things ending in 99c they would be required to round down to 95c.
 
Birdwatching
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 9:24 pm

Quoting Airdolomiti (Reply 5):
I'd really like to see €1 and €2 notes

That's because you're Italian! You used to pay like ten grillion Lira to buy a chewing gum. I read that many Italians were really nervous after the Euro transition because they weren't used to coins, or simply didn't have a coin compartment in their wallet!  Smile

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KaiGywer
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 9:25 pm

Quoting Braybuddy (Reply 6):
For shops which price things ending in 99c they would be required to round down to 95c.

Or up to 1  Smile
“Once you have tasted flight, you will forever walk the earth with your eyes turned skyward, for there you have been, an
 
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KaiGywer
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 9:28 pm

Similar discussions are also going in the US, where the cost of making 1 penny is currently costing 1.23 cents, and the cost of making a nickel (5 cents) cost 5.73 cents.

http://articles.moneycentral.msn.com/News/TimeToKillOffThePenny.aspx
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Banco
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 9:29 pm

Quoting KaiGywer (Reply 8):
Or up to 1

Don't be stupid. Honestly, how ridiculous can you get?  Wink
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aloges
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 9:41 pm

I don't have a problem with those coins. I get them, I spend them - if I have to pay €8,07 and have €8,12, I'll hand that to the cashier to get a 5ct coin back. Again, what's the problem - besides laziness?
Don't cry because it's over, smile because it happened.
 
Banco
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 9:45 pm

Quoting Aloges (Reply 11):
Again, what's the problem - besides laziness?

You talk about it like it's a bad thing...  snooty   Wink
She's as nervous as a very small nun at a penguin shoot.
 
DAL767400ER
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 10:21 pm

Quoting Aloges (Reply 11):
Again, what's the problem - besides laziness?

Too much unnecessary weight in the wallet, always having to search for the right coins, or even worse, standing behind an old women that counts every single cent of a XY,99 sum  Wink .
 
ANother
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 10:32 pm

In Swizerland our smallest coin is 0.05 (eur0.3) and our smallest note is 10 (eur6). However our largest note is 1000 (Eur600)! They did away with the 500 a few years ago, and replaced it with a 200.
 
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Braybuddy
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 10:37 pm

Quoting DAL767400ER (Reply 13):
standing behind an old women that counts every single cent of a XY,99 sum .

LOL! I know the sort . . . in the supermarket she waits till everything has been scanned, then she rummages in her handbag. Finally she finds her purse. She opens it, takes out a note, looks at it intently, hands it to the cashier, then does the same with each one of the coins, and finally after 25 minutes she reaches her total of €12.38.

Meanwhile you've grown 1mm of stubble.
 
aloges
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 11:06 pm

Quoting Braybuddy (Reply 15):
LOL! I know the sort . . . in the supermarket she waits till everything has been scanned, then she rummages in her handbag. Finally she finds her purse. She opens it, takes out a note, looks at it intently, hands it to the cashier, then does the same with each one of the coins, and finally after 25 minutes she reaches her total of €12.38.

 rotfl  Here the problem is not laziness, but bad planning. If I can check the coins I have while I'm waiting, other people can do the same. OK, make that "should be able to do the same".  Silly Needless to say that same granny will invariably be blocking your way out of the market in some kind of way - she has all the time in the world!
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L410Turbolet
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 11:14 pm

Quoting Airdolomiti (Reply 5):
I'd really like to see €1 and €2 notes. IMO, as it is now, having the smallest note at €5 really distorts your perception of how much money you actually have

I doubt that will happen. It's just too expensive to print paper money and coins last much longer.
 
L410Turbolet
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 11:20 pm

Quoting Birdwatching (Reply 7):
I read that many Italians were really nervous after the Euro transition because they weren't used to coins, or simply didn't have a coin compartment in their wallet!

I think it will be interesting to watch how Slovenia will cope with switching to Euro. They've been used to counting mostly in hundreds and thousands (1 EURO = 239 Slovenian Tolars) and if this will end up in overall price increase as was the case elsewhere.
 
ltbewr
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 11:23 pm

I remember when I was in New Zealand in 1994 that they didn't use a penny and rounded off to the nearest 5 cent. It was kinda wierd at first, but since it was worth about at the time 0.6 of an American cent, it made sense.
I don't think the penny will disappear anytime soon in the USA. There are too many cheapskates who demand exact charges and still use cash. Besides, it seems it would be an accounting headache for small businesses and to make sure you were charged properly after sales taxes (unlike everywhere else, our sales taxes, which are similar to VAT/GST elsewhere, are not usually included in the stick price of a product).
Some banks in the USA have coin counters where for free (or for free if you have an account) you can bring your jars, bags and 'piggy banks' of coins convert them into bill cash or deposit into an account. Some banks here in the NY/NJ area where I live use these counters to encourage kids to open accounts, even giving them banks to collect coins in. All those pennies add up to a number of dollars after a year or so.
 
Dougloid
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RE: Time To Abolish The 1c & 2c Coins

Fri Jul 21, 2006 11:56 pm

Quoting LTBEWR (Reply 19):
All those pennies add up to a number of dollars after a year or so.

I dump all my pocket change in a couple of teapots. Whenever I have to use a parking meter I just grab a handful, and I cash in the pennies once every couple years and go out for a good dinner somewhere. Some folks I know have 5 gallon bottles from water coolers that they use as piggy banks.

Hey, if you don't want 'em and don't like 'em, don't take them and stop whinging about it. It's a good vehicle for teaching kids the value of saving money for a rainy day.
If you believe in coincidence, you haven't looked close enough-Joe Leaphorn
 
Banco
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 12:03 am

Quoting Dougloid (Reply 20):
It's a good vehicle for teaching kids the value of saving money for a rainy day.

So what you're saying is that rather than give them a decent amount of moeny, you just toss a couple of cents in their direction? Tight git.  Wink
She's as nervous as a very small nun at a penguin shoot.
 
Dougloid
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 12:14 am

Quoting Banco (Reply 21):
Quoting Dougloid (Reply 20):
It's a good vehicle for teaching kids the value of saving money for a rainy day.

So what you're saying is that rather than give them a decent amount of moeny, you just toss a couple of cents in their direction? Tight git.

Nahhhh they just gotta get metal detectors like the rest of us old fogies LOL.


 old   old   old   old   old 
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Banco
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 12:43 am

Quoting Dougloid (Reply 22):
Nahhhh they just gotta get metal detectors like the rest of us old fogies LOL

Strange name to give to your daughter...  Wink
She's as nervous as a very small nun at a penguin shoot.
 
AsstChiefMark
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 2:13 am

Some things to ponder regarding the American penny...

Due to recent zinc and copper price increases, it now costs 1.4¢ to make a penny.

The US Mint typically produces 11,000,000,000 pennies a year. However, for the past four years, penny production has been slightly less than that.

About 80% of Americans "accumulate" their change. Some save it to eventually spend on a "special purchase." Others simply throw it in a jar and forget it. And, of course, most of those coins are pennies.

Although US coins are designed to have a life expectancy of at least 30 years, 80% of the pennies in circulation are less than four years old.


You used to find pennies on the floor near check-out counters and on the sidewalk and parking lot at convenience stores. Now you find nickels, dimes, and quarters. That sort of tells you what some people think of change. I'm one of those poor suckers that takes the time to pick up all that change.  Big grin

I admit I save my change in a big Tupperware bowl on my nightstand. However, I have a cloth US Mint coin bag in the closet where I throw my pennies. Every year, I bring the bag to the bank and cash in all the pennies I've picked up or received in change. I usually leave with a $100 bill.

I don't think the penny should be discontinued. However, I think the government should try to get all those saved-up pennies out of jars and back into circulation. The easiest and most cost-effective way for the US government to do that is to reduce penny production. Banks and money handling companies (like Wells Fargo and American Security) will start paying a premium to customers to turn in their change.

However, the banking industry currently has a very negative attitude regarding change and actually discourages people from cashing in their change. Most banks either won't accept it or penalize the customer with a hefty "service fee" to simply dump it in their counting machine. That's why Coinstar is in business.

Then there's the dollar coin problem. How do you make Americans use them? The solution is very simple. Stop making paper dollars. But that's for another thread.  Big grin

Mark
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Dougloid
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 2:31 am

Quoting Banco (Reply 23):
Quoting Dougloid (Reply 22):
Nahhhh they just gotta get metal detectors like the rest of us old fogies LOL

Strange name to give to your daughter...

Not at all similar. Penny is short for Penelope. You know, that greek gal married to that Odysseus feller?
If you believe in coincidence, you haven't looked close enough-Joe Leaphorn
 
ThereandBack
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 2:36 am

Quoting AsstChiefMark (Reply 24):
Then there's the dollar coin problem. How do you make Americans use them? The solution is very simple. Stop making paper dollars. But that's for another thread.

I HATE PAPER DOLLARS SO MUCH!

Anyway, back on topic...

I think they should abolish 1 & 2 cent coins. When I go to Germany they were an annoyance when shopping or buying food.
 
Banco
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 2:40 am

Quoting AsstChiefMark (Reply 24):
However, I think the government should try to get all those saved-up pennies out of jars and back into circulation.

You might change your mind when you see inflation jump up 2% as a result.  Wink
She's as nervous as a very small nun at a penguin shoot.
 
scintx
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 3:54 am

Quoting AsstChiefMark (Reply 24):
Due to recent zinc and copper price increases, it now costs 1.4¢ to make a penny.

I read not long ago the Nickel cost more than 5 cents to produce.

Quoting AsstChiefMark (Reply 24):
About 80% of Americans "accumulate" their change. Some save it to eventually spend on a "special purchase." Others simply throw it in a jar and forget it. And, of course, most of those coins are pennies.

Guilty as charged. I had one of those plastic water jugs that is designed to fit on top of a cooler. I spent years filling it up and decided to cash it in one day. The only problem was the weight, we couldn't lift it! So I've down sized to smaller containers.

Quoting AsstChiefMark (Reply 24):
Although US coins are designed to have a life expectancy of at least 30 years, 80% of the pennies in circulation are less than four years old.

In 1982 mid year they changed the penny content to Zinc. It's very seldom that I find anything in the 60's or 70's.

Quoting AsstChiefMark (Reply 24):
I'm one of those poor suckers that takes the time to pick up all that change

You're not alone, I'll do anything for a penny!
Attention All Planets of the Solar Federation....We have assumed control.....We have assumed control......
 
Banco
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 3:56 am

Quoting Dougloid (Reply 25):
Not at all similar. Penny is short for Penelope. You know, that greek gal married to that Odysseus feller?

Oh. So you didn't call her Metal Detector then?
She's as nervous as a very small nun at a penguin shoot.
 
bohica
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 4:20 am

Quoting AsstChiefMark (Reply 24):
Then there's the dollar coin problem. How do you make Americans use them? The solution is very simple. Stop making paper dollars.

The problem is it costs the US government 15.89 cents to make a $1 coin while it costs 4 cents to make a $1 bill.

The information is in the following link
http://articles.moneycentral.msn.com/News/TimeToKillOffThePenny.aspx

Basically it comes down to  dollarsign   dollarsign   dollarsign  .
Personally I prefer $1 bills anyway.
 
Sabena332
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 4:27 am

Quoting Airdolomiti (Reply 5):
I'm in favor of abolishing the 1c and 2c coins, too, and I'd really like to see €1 and €2 notes.



Quoting DAL767400ER (Reply 13):
Too much unnecessary weight in the wallet

 checkmark 

Currently in my wallet:

- One 2 EUR coin
- Six 1 EUR coins
- Eight 2 Cent coins
- Ten 1 Cent coins

My wallet would weight much less when they would get rid of the 1 and 2 Cent coins and when they would introduce 1 and 2 EUR bills.

Patrick
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JGPH1A
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 5:00 am

I have a great bowl of 1 and 2 euro-cent coins, I do nothing with them - they just accumulate. I wish they had those coin counter machines here so I could get rid of them periodically. I'm tempted to take them to the Post Office and make them count them, just to punish them.
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aloges
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 5:06 am

I don't understand you people... it's your money and you're too lazy to use it?!  Silly
Don't cry because it's over, smile because it happened.
 
checkraiser
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 5:24 am

Quoting ThereAndBack (Reply 26):
I HATE PAPER DOLLARS SO MUCH!



Quoting AsstChiefMark (Reply 24):
Stop making paper dollars.

Right. Then how do I support the working moms at the gentlemen's club? I can see it already, $2 bills go into circulation there and the price of a night out just doubled.
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andz
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 5:29 am

We abolished 1c and 2c coins years ago and it was almost a non event.
After Monday and Tuesday even the calendar says WTF...
 
Dougloid
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 5:44 am

Quoting Banco (Reply 29):
Quoting Dougloid (Reply 25):
Not at all similar. Penny is short for Penelope. You know, that greek gal married to that Odysseus feller?

Oh. So you didn't call her Metal Detector then?

I missed that completely LOL.....they are pretty good at that aren't they?
If you believe in coincidence, you haven't looked close enough-Joe Leaphorn
 
AsstChiefMark
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 9:39 am

Quoting Bohica (Reply 30):
The problem is it costs the US government 15.89 cents to make a $1 coin while it costs 4 cents to make a $1 bill.

The life expectancy of a paper dollar is 18 months. Bottom line: It's cheaper to make dollar coins.

Mark
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rolfen
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 9:59 am

Does it mean I have to stop saying "just my 2 cents"?
rolf
 
damirc
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 10:48 am

Quoting L410Turbolet (Reply 18):
I think it will be interesting to watch how Slovenia will cope with switching to Euro. They've been used to counting mostly in hundreds and thousands (1 EURO = 239 Slovenian Tolars) and if this will end up in overall price increase as was the case elsewhere.

Hopefully not. All receipts for end customers already have to be dually marked - both in SIT and EUR. From this september even all transactions between companies will have to be dually tagged. Living so close to the border I always have Euro and Tolars on me (and more than half of the coins are Euro :-/) - and since half of Slovenia is within 20 miles of either Austria or Italy (who both have Euro) many Slovenians are already bi-currency  Smile

I'm not too fond of coins, but I guess I will just have to get used to it  Smile It's far easier paying for coffee with a single banknote (200 SIT) than looking for €0.83 ...  Wink

D.
 
flyjetstar
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 11:36 am

Yes in New Zealand we lost our 1c and 2c coins some time ago and at the end of July we are going to loose our 5c coin as well and our remaining coins, 10c, 20c and 50c get smaller and the 10c changes color. There are no changes to our $1 and $2 coins.
 
bill142
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RE: Time To Abolish The 1c & 2c Coins

Sat Jul 22, 2006 11:43 am

Quoting DAL767400ER (Reply 2):
It's just too bad that most companies still believe prices of XY,99 or A,48 will catch more interest than prices like 1,00 or 0,50.

Thats a marketing thing. It plays on peoples minds. Like if you have sale and you don't limit the quantity people buy, they won't buy many. But if you limit your cans of soup to 5 per customer, they will buy 5 cans of soup.

Quoting Andz (Reply 35):
We abolished 1c and 2c coins years ago and it was almost a non event.

As did we. I personally would like to see the 5 cent go as well.
 
Airdolomiti
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RE: Time To Abolish The 1c & 2c Coins

Sun Jul 23, 2006 5:14 am

Quoting Birdwatching (Reply 7):

That's because you're Italian! You used to pay like ten grillion Lira to buy a chewing gum. I read that many Italians were really nervous after the Euro transition because they weren't used to coins, or simply didn't have a coin compartment in their wallet! Smile

Soren santahat

LOL. I was used to the Lira as well as the Deutsche Mark, thank you very much  Wink Besides, we certainly did have coins back then (50 lire, 100 lire, 200 lire, 500 lire), and they were commonly used, it's just that they were worth (almost) nothing: 500 lire = 0.25�. So, to many people, even a wallet full of 1� or 2� coins still doesn't feel like much money at all, and too many shops have taken advantage of this, raising prices.

Really, it was mostly elderly people who had a hard time coping with the new coins and notes, being used to prices in the thousands/hundreds of thousands/millions and all. But more or less everyone noticed the overall price increase.
 
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Zkpilot
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RE: Time To Abolish The 1c & 2c Coins

Sun Jul 23, 2006 3:47 pm

Quoting Bohica (Reply 30):
The problem is it costs the US government 15.89 cents to make a $1 coin while it costs 4 cents to make a $1 bill.

The information is in the following link
http://articles.moneycentral.msn.com/News/TimeToKillOffThePenny.aspx

Basically it comes down to .
Personally I prefer $1 bills anyway.

It might be cheaper to make notes, but they don't last anywhere as long as coins... especially when it comes to $1 and $2 coins. So much better to have coins for those 2 denominations.

Quoting Flyjetstar (Reply 40):
Yes in New Zealand we lost our 1c and 2c coins some time ago and at the end of July we are going to loose our 5c coin as well and our remaining coins, 10c, 20c and 50c get smaller and the 10c changes color. There are no changes to our $1 and $2 coins.

yup... about time they made the 50c smaller! Is rediculously large...Australia needs to do the same! Glad we got rid of 1c and 2c years ago and glad to get rid of 5c now as well! Theres just no need for those coins these days!


As for all those people talking about prices after removing the smallest coins, well I know that here we mostly use EFTPOS or credit cards to pay for things and they CAN be charged that exact amount. The coins may be gone, but each cent still counts legally. Most supermarkets etc will however add up all the prices and then round the final 5c or 10c at the end so at most you will be put out 3c or 6c, then again half the time you come out 3c or 6c ahead.
With technology like smart cards and debit off your cell phone there really is less need for obsolete low denomination coins.  Smile
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jwenting
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RE: Time To Abolish The 1c & 2c Coins

Sun Jul 23, 2006 4:06 pm

So now we abandon the 1 and 2 cent pieces.
In a few years stores are going to refuse accepting small change, accepting only 50 cent pieces and larger.
So we just abandon the 5, 10, and 20 cent pieces as well.
Of course prices rise to match...

After that, someone decides that all those coins are no good, anything under 10 Euro is a waste of effort to accept. So all prices are rounded up to 10 Euro multiples.
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RobertNL070
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RE: Time To Abolish The 1c & 2c Coins

Sun Jul 23, 2006 4:17 pm

Quoting Jwenting (Reply 44):
So now we abandon the 1 and 2 cent pieces

In the Netherlands they are pretty well abondoned already. When you check out your groceries in the supermarket, the total amount due is rounded up or down. €14.42 becomes €14.40, €37.63 becomes €37.65. If you pay with your bank card, then you do pay the exact amount due. While still being legal tender here, most shopkeepers will only very grudgingly accept one or two cent coins.

Quoting Jwenting (Reply 44):
In a few years stores are going to refuse accepting small change, accepting only 50 cent pieces and larger.
So we just abandon the 5, 10, and 20 cent pieces as well.

Ridiculous.

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Zkpilot
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RE: Time To Abolish The 1c & 2c Coins

Sun Jul 23, 2006 11:39 pm

Quoting Jwenting (Reply 44):
So now we abandon the 1 and 2 cent pieces.
In a few years stores are going to refuse accepting small change, accepting only 50 cent pieces and larger.
So we just abandon the 5, 10, and 20 cent pieces as well.
Of course prices rise to match...

After that, someone decides that all those coins are no good, anything under 10 Euro is a waste of effort to accept. So all prices are rounded up to 10 Euro multiples.

someone just had to go OTT...  Yeah sure
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EWRCabincrew
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RE: Time To Abolish The 1c & 2c Coins

Sun Jul 23, 2006 11:58 pm

Australia got rid of them a few years back and their world did not come crashing down. You round up or down. The US should do the same.

Bag the penny.
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metalinyoni
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RE: Time To Abolish The 1c & 2c Coins

Mon Jul 24, 2006 6:40 am

i think the 1c and 2c coins are useful as a secret store of emergency wealth like on Monday morning when you forgot to draw cash for your train fare. My local station doesn't have a cash machine or the ability to pay by credit card so you have to have cash. I try and get there early to try and not piss every one off by holding up the queue for tickets. Often though the guy doesn't count the cash. just gives me the ticket.
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andaman
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RE: Time To Abolish The 1c & 2c Coins

Tue Aug 01, 2006 7:18 am

Quoting Joge (Reply 1):

Yes they did, but they weren't in use for long time. There are few around. If you see one, keep it! I got one Finnish 2c coin.

-Joge

Finland did mint some 1c and 2c coins but just for collectors mainly. Finnish 1c & 2c are not used in Finland, other European small coins are accepted of course but you have to have 5 cents at least.

Finland wanted this exception because before the Euro-time the small coins were not popular. Finns use less cash than most other Europeans and more cards.
In Finnish bars or in taxi for example its common to use plastic. In my regular bar I leave my card to the bartender and sign it out when I leave.
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