Copper Coins

damoon12

Hi, Im just curious if people are still collecting 1cent and 2cent coins in jars or some sorts of containers ? or is it the case where more and more people just go out and spend them in shops likes tescos. Just wondering because copper coins seem to be going out of circulation very quick, according to the central bank.

MartyMcFly84

They are a pain to carry and use. I am guilty of firing loads of change into a monstrous jar, to crack open when I decide what I am keeping it for.

I have heard the metals used to make them cost more than the value of the coin. I am not sure if this is true, but we loose millions every year minting 1c and 2c coins.

These days I think more and more people use debit card to pay for small things. I can see with technology like contact-less in 20 years from now we will use hardly any cash at all.

danjo-xx

Aldi waterford have stopped using the 1 and 2 cents saying the banks are no longer issuing them. I didn't think the government had officially announced the ending phasing out of these coins.

Aldi have not rounded off their prices and should have done that first.

L1011

danjo-xx wrote: »

Aldi have not rounded off their prices and should have done that first.

No, they shouldn't.

Rounding prices is not required, expected or needed. The entire point of rounding at the final checkout is that prices do not need to change.

The J Stands for Jay

danjo-xx wrote: »

Aldi waterford have stopped using the 1 and 2 cents saying the banks are no longer issuing them. I didn't think the government had officially announced the ending phasing out of these coins.

Aldi have not rounded off their prices and should have done that first.

That would mean if you buy 50 items you'd be overcharged by €0.50 instead of 9 cent at most if the coppers are rounded up on the final bill.

L1011

McGaggs wrote: »

That would mean if you buy 50 items you'd be overcharged by €0.50 instead of 9 cent at most if the coppers are rounded up on the final bill.

You'll be overcharged 2 cent at most - we're keeping 5, and .x1/.x2/.x6/.x7 prices will be rounded down.

And it'd most likely end up being 5-10c increases to "round" figures if shops did rounding, going on how they "rounded" when we went to the euro!

You still pay the exact till price on plastic with this rounding in place anyway. Common all over the world at this stage - in Europe it'd be the Dutch, Finns, Swedes, Danes, Belgians and some others that do it.

Apparently a date has been set - October 28th. We're not demonetising the small coins because we can't - that's an ECB decision. We'll just stop making them.

rubadub

MartyMcFly84 wrote: »

I have heard the metals used to make them cost more than the value of the coin. I am not sure if this is true, but we loose millions every year minting 1c and 2c coins.

+1, the central bank, regular banks and shops have made little or no attempt to get these coins back.

Though I think I heard of 1 bank that does have a bulk mixed coin counting machine which takes no comission. The central bank should organise loads of them, it would be far cheaper than minting new coins.

Most banks might take counted out separated bags of coins, but that is not going to entice many people. I have heard banks charge retailers more for coins than their worth, so it would be worth their while to get one of these counting machines in -or the retailers themselves and give at least store credit.

In the 80's I got free burgers and donuts in mcdonalds & superquinn if you brought in £5 in coppers. Nowadays instead you have tesco with coin counting machines taking about 10% in commission. Tesco also had very dubious wording on the machines which lead many people to believe they could get a tesco voucher for the value of the money -but it was still taking commission.