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> Might 1 & 2p coins be scrapped?
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Scrapping 1 & 2p coins
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vidcapper
post Mar 14 2018, 07:42 AM
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https://www.mirror.co.uk/news/politics/1p-2...rapped-12179972

Guess which way prices would be rounded... rolleyes.gif
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5 Silas Frøkner
post Mar 14 2018, 08:31 AM
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Prices would be both rounded up and down but only when paying in cash. It works by rounding to the nearest 5p. Other countries do this rather successfully.

As we move to a cashless economy, it’s not economically viable to keep these coins in circulation. I support getting rid.
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danG
post Mar 14 2018, 08:40 AM
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I wouldn't miss pennies either, even if that would make things a penny more expensive. I imagine prices would be round up anyway.

If the extra penny from rounding up goes to charity then that solves that problem anyway.
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vidcapper
post Mar 14 2018, 09:50 AM
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QUOTE(5 Silas Frøkner @ Mar 14 2018, 08:31 AM) *
Prices would be both rounded up and down but only when paying in cash. It works by rounding to the nearest 5p. Other countries do this rather successfully.

As we move to a cashless economy, it’s not economically viable to keep these coins in circulation. I support getting rid.


I suspect a cashless society, at least in the foreseeable future, is about as likely as the 'paperless office' we were promised at the turn of the century. tongue.gif
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gavindeejay
post Mar 14 2018, 10:07 AM
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It will be rounded up. I can’t see it happening for a while yet even if it does go through!
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vidcapper
post Mar 14 2018, 10:12 AM
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On a vaguely related note - why do supermarket self-service machines never give out 50p's & 10p's in your change? unsure.gif
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Midge
post Mar 14 2018, 11:49 AM
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They do that here in Australia! I was baffled when I was given an extra 3 cents change tongue.gif
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Popchartfreak
post Mar 14 2018, 12:46 PM
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its worse in the States - Ive been moaning for decades they could save business millions by junking the 1cent coin. Standing behind someone in Walmart as they pay out $113.73 in cash and insist on counting out the last 1.73 in pennies is very frustrating!
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Jacob~
post Mar 14 2018, 05:22 PM
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It could go down, something £x.99 is priced that way to make people subconsciously think it's not as much as it is (even though they logically know it's basically £2 when it's £1.99) and leads to more impulse purchases, pretty sure in places like Australia x.99 has just been replaced with x.95. In other cases though it'd be more likely to go up.

When I get coppers I spend them as quickly as I can because they're annoying, so I never keep a large amount of them. I end up shoving them into self service machines or using them if it's convenient - something coming to £0.63 and having the extra 3 in coppers is a good feeling. x

I don't use cash as much as I used to though now I've got contactless, although I've started using it again more recently to curb/ limit my spending, it's easier for me to just take a set amount out at the cashpoint and make it last until payday.

As for the coppers I can see why they'd be scrapped but it'd be mathematically irritating, can't we just deflate the currency and make them more valuable again? x
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5 Silas Frøkner
post Mar 14 2018, 07:25 PM
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May has already u-turned on this. What a pointless endeavour her government is
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vidcapper
post Mar 15 2018, 06:24 AM
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QUOTE(5 Silas Frøkner @ Mar 14 2018, 07:25 PM) *
May has already u-turned on this. What a pointless endeavour her government is


Does it really count as a u-turn to reject a policy suggestion, as opposed to one already implemented? unsure.gif
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Popchartfreak
post Mar 15 2018, 07:53 AM
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then dont announce "suggestions" that are thinly-designed efforts to gauge press/public opinion so as not to become even more unpopular. Just use common sense. Or Cents....
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vidcapper
post Mar 15 2018, 09:46 AM
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QUOTE(Popchartfreak @ Mar 15 2018, 07:53 AM) *
then dont announce "suggestions" that are thinly-designed efforts to gauge press/public opinion so as not to become even more unpopular. Just use common sense. Or Cents....


Personally, I prefer politicians float ideas beforehand, as that way they are a lot easier to dispose of, than once they are on the statute books!

As for common sense - that's not a quality that most politicians are known for. tongue.gif
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Suedehead2
post Mar 15 2018, 12:51 PM
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Hammond's big mistake was not to consult the Daily Mail before floating the idea.
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Juranamo
post Mar 15 2018, 01:01 PM
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QUOTE(vidcapper @ Mar 14 2018, 10:12 AM) *
On a vaguely related note - why do supermarket self-service machines never give out 50p's & 10p's in your change? unsure.gif

The self service machines don’t have enough sections in the change part. So 50p and 10p are left out as they can be made using a combination of 5p and 20p coins! I never realised until I worked in a supermarket lol
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Botchia
post Mar 17 2018, 11:36 AM
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This is a great idea. I remember in Canada, they did it rounding to the nearest 5 and it made life a whole lot easier! So I'd really welcome it FINALLY being introduced here too. It also works both ways of being rounded up or down, not always up. 1p and 2p coins are so useless these days I don't see any good reason for keeping them!
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vidcapper
post Mar 17 2018, 02:42 PM
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QUOTE(Juranamo @ Mar 15 2018, 01:01 PM) *
The self service machines don’t have enough sections in the change part. So 50p and 10p are left out as they can be made using a combination of 5p and 20p coins! I never realised until I worked in a supermarket lol


But they accept 10 & 50p's in *payment*, so they must have somewhere to store them...
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Mart!n
post Mar 17 2018, 03:44 PM
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Coppers are useless, its alright when you want to buy a stamp. When I buy something that is like 4.99, I tell them to stick it in their charity box, and if they don't have one, keep it, your till is a penny up. laugh.gif

If they are going to keep them in circulation, wouldn't it be better to keep them consistent with the silver with the rest of the cash.

I've even got a big bottle that houses coppers, which need cashing up soon, but I'm not going to take the bottle down to the bank it weighs a ton laugh.gif . I sling them in smaller containers.
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casey__
post Mar 17 2018, 11:05 PM
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If any coin was irrelevant it'd be the £2 (as much as i like the design). i really dislike 5ps (that would get my vote for the boot!) As someone who handles money on a daily basis 5ps are the absolute worst.

Having said that, prices being dropped to £x.95 would make life a whole lot easier with the 5p bag charge in terms of things being rounded.


This post has been edited by casey__: Mar 17 2018, 11:06 PM
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Bitch
post Mar 18 2018, 11:37 PM
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QUOTE(Botchia @ Mar 17 2018, 12:36 PM) *
This is a great idea. I remember in Canada, they did it rounding to the nearest 5 and it made life a whole lot easier! So I'd really welcome it FINALLY being introduced here too. It also works both ways of being rounded up or down, not always up. 1p and 2p coins are so useless these days I don't see any good reason for keeping them!

BUT WHAT IF YOU HAVE TO PAY 2P MORE ON YOUR GROCERIES ONCE!!!!1@ AN OUTRAGE

I cant believe The Netherlands is actuallynone of the few nations not using these useless things anymore
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