Possible demise of 1p and 2p coins.

[birdbath]

What are your thoughts on the future of our "copper" coinage?
Philip Hammond has been on the record as being in favour of stopping mintage of these coins to save money and he is to announce his decision soon.
https://www.bbc.co.uk/news/business-48082984

I don't see any similar moves over the US cent or the EU cent which have less value.

'Tis the thin end of the wedge imho.

[whiplash]

All my 1p and 2p go in a coffee jar.

[said]

All my 1p and 2p go in a coffee jar.

Quite likely! If the government does not pull it's finger out soon - we will lose those coins altogether. We will have the 1.2.5.10.20 and 50 cents!

[K-T]

I have more or less stopped using cash altogether now. I use a contactless debit card. Nearly every cafe/shop has the facility now and they like you to use it as it makes life easier for them with all the banks closing down.

[Snig's foot]

What are your thoughts on the future of our "copper" coinage?
Philip Hammond has been on the record as being in favour of stopping mintage of these coins to save money and he is to announce his decision soon.
https://www.bbc.co.uk/news/business-48082984

I don't see any similar moves over the US cent or the EU cent which have less value.

'Tis the thin end of the wedge imho.

You don't see any similar moves over the US cent!!! There's an entire wikipedia page devoted to it!
And in the EU: Ireland, Finland and the Netherlands have done away with 1 and 2 cent coins.

I remember the fuss when they did away with farthings (0.104p)!

[said]

I have more or less stopped using cash altogether now. I use a contactless debit card. Nearly every cafe/shop has the facility now and they like you to use it as it makes life easier for them with all the banks closing down.

Well that is just tough! I prefer to use cash. Can see it, can physically count it and know exactly where I stand financially. True one can lose cash - but it would not be much, where as contactless cards can be used by anyone who gets hold of it!

[silver fox]

I have more or less stopped using cash altogether now. I use a contactless debit card. Nearly every cafe/shop has the facility now and they like you to use it as it makes life easier for them with all the banks closing down.

Whether you use cash or not isn't the issue, everything offered for sale must be priced in available currency, many small purchases will be price rounded up to fit the then smallest denomination ie 5p.

[seivad]

The Canadian 1 cent coin, which was commonly known as a penny, was abolished about 6 years ago. I was glad to see the back of it. Hubby's pockets were always full of the damned things. When paying with cash I always tried to give the correct amount, so I used up small coinage. He never, ever did. A jar wouldn't be big enough to dump all the pennies from his pockets, we would have needed a skip!

[seivad]

Whether you use cash or not isn't the issue, everything offered for sale must be priced in available currency, many small purchases will be price rounded up to fit the then smallest denomination ie 5p.

When it was abolished here it had to be rounded to the nearest 5 cents, which meant that the price could be rounded up or down. $1.01 & $1.02 were rounded down to $1. $1.06 & $1.07 were rounded down to $1.05. $1.03 & $1.04 were rounded up to $1.05. $1.08 & $1.09 were rounded up to $1.10.

[K-T]

Well that is just tough! I prefer to use cash. Can see it, can physically count it and know exactly where I stand financially. True one can lose cash - but it would not be much, where as contactless cards can be used by anyone who gets hold of it!

Better get used to it, cash won't be around for much longer!

[Toodles McGinty]

I don't like a purse full of copper, I must admit.

However, I don't like the idea of everything then rising by 5p a time. Because I'm pretty certain things won't be rounded down. Then over say, a year, all those 5p rises will add up to a fair amount.

So my vote is for keeping the shrapnel.

[Mr B S Sniffer]

I'd prefer to keep the 1p & 2p coins and get rid of Hammond the dipstick

[Albion102]

I don't like a purse full of copper, I must admit.

However, I don't like the idea of everything then rising by 5p a time. Because I'm pretty certain things won't be rounded down. Then over say, a year, all those 5p rises will add up to a fair amount.

So my vote is for keeping the shrapnel.

In practice I never spend the coppers I get in change so it is already rounded up. They are worth less than the time I would spend collating and spending them. I generally put coppers into a charity tin, just never one of ours, because they cost more to count, do the paperwork for and bank than they are worth.

[Alikado]

I have more or less stopped using cash altogether now. I use a contactless debit card. Nearly every cafe/shop has the facility now and they like you to use it as it makes life easier for them with all the banks closing down.

I use a contactless Credit Card that has Cashback for everything , it's only 0.25% but it all adds up to an occasional bottle of wine, I also use cashback websites(Topcashback, Quidco), I dislike paying full price for anything, my dad would have been proud of me!

[whiplash]

I use a contactless Credit Card that has Cashback for everything , it's only 0.25% but it all adds up to an occasional bottle of wine, I also use cashback websites(Topcashback, Quidco), I dislike paying full price for anything, my dad would have been proud of me!

Trouble is,charity boxes, how often do people drop their coppers in the box by the till or on a bar?