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 Replies: 7 / Views: 1,937 |
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Pillar of the Community
921 Posts |
"The Irish government is to discuss abolishing one cent and Two Cent coins. This follows a trial in Wexford town in which cash transactions were rounded to the nearest five cents removing the need for smaller coins. The Central Bank of Ireland has recommended rolling out the practice of 'rounding' nationally" http://www.bbc.com/news/world-europe-33137008 |
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Pillar of the Community
 921 Posts |
Update: "Government confirms end of 1c and 2c coins" "The Government has agreed to the rounding of prices involving 1c and 2c coins to the nearest 5c, which would lead to the withdrawal of the coins from circulation" http://www.irishtimes.com/news/cons...ns-1.2251601 |
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Moderator
 United States
188560 Posts |
Another country smarter than the US.  |
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Pillar of the Community
Germany
992 Posts |
Finland has this practice since the start of the Euro coins in 2002. The Netherlands adopted the practice a couple of years later. And still, both countries mint 1c and 2c coins for collectors. Netherland 500.000 of each denomination in 2014; Finland 100.000 each in 2014.
Besides, the 1c and 2c coins remain legal tender in the entire Euro zone.
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Valued Member
United States
100 Posts |
Quote:
Another country smarter than the US. The cent is practically useless, annoying, and expensive to produce, but I'd still be sad to see it go. |
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Pillar of the Community
United States
592 Posts |
You know, with the amount of the things out there, it's not like just ceasing production would mean all of a sudden no cents for anybody. We could probably cease production, not even make a big deal or announcement about it, and still be fine a decade from now or more.
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Pillar of the Community
Sweden
1078 Posts |
The issue with the Eurozone is that the coins can't be entirely removed because other members are still actively using them, thus a source of them exists and eventually they'll make it to the country. For fun I decided to spend some 1c and 2cs in Holland. Turns out they were accepting them, but with prices ending with €.99 they still enforced rounding and wanted €1.00 when I gave them €0.99. Eventually I got 5c worth of 1c and 2c from a shopowner who had run out of 5cts.
The 1c and 2cs will still remain legal tender because the Euro's legal tender status throughout the Eurozone.
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Pillar of the Community
Germany
1238 Posts |
Right, if you choose to pay cash in the Netherlands (or one of the other countries where stores may round), you do pay the rounded total. If you use some other means of payment, the amount is not rounded. :) I live in Germany where most people seem to love their 1 and 2 cent coins (heck, we even used 1 pfennig pieces, worth half a cent, until the end of 2001) but in an area where NL is close ...
And yes, those low denominations continue to be legal tender. Then again, I don't know whether it might be possible for stores to not accept them. Many Dutch stores also have signs (at the entrance or checkout) that show high denomination notes and say "hier hebben wij niet van terug". So they won't accept, say, €200 and €500 notes (aka phantom money ;) ) which is legally OK if "announced" before the purchase. Have not seen a sign like that for 1 and 2 ct coins in NL, but maybe it would be fine as well?
Christian
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Replies: 7 / Views: 1,937 |
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Posted 06/16/2015 5:37 pm
