I am all for it. Though here in Germany it would probably give quite a number of people a heart attack not being able to pay an exact amount to the cent.
this post was submitted on 18 Jun 2023
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I feel called out.
No, seriously. Last season I bought some plums from my Turkish greengrocer, he put them on the scales which said 1.01 Euro which he commented with "one Euro". I gave him 1.01 Euro, and got a "can you believe those Almans" look.
Now that's good German humor.
Come on now, you know you can only have one at a time. So is it German, or is it humor?
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They could by paying with card.
Lol. Have you been to Germany? IF you can pay with a card, it has to be a specific card, not everyone accepts credit cards.
They could pay with card, but it's something special here with many of the old folks and cash. Part of the ancient shopping ritual to put out the small coins and delay the queue as long as possible. Why? No idea, apart from "Das haben wir schon immer so gemacht!" (We always did it like this)
Well, cash has privacy by design. So I much prefer that to the American card provider monopoly.
Still convenient when traveling light, I just don't want to rely on it. By regularly paying cash I incentivize the upkeep of the German cash infrastructure.
Austrian here, paying with cash and counting every single coin is still common here.
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There are European countries that have no 1 and 2c coins (Netherlands, Belgium, Ireland, Finland). The prices are the same, when you buy something the sum is simply rounded up to the next 5 cents.
Works fine.
Here in NL the amount gets rounded to the nearest multiple of five, so for 1.92 you have to pay 1.90 in cash and 1.93 will become 1.95. This so on average you are not overpaying. Digital payments are always exact.
Get rid of them. I just throw the small coins in a box regularly. A couple if years ago I tried to get rid of them. I found out that my bank would not accept them so easily and when I tried to pay with rolls of cent coins, store owners would be pissed. What the hell am I supposed to do?
Self Checkout machines! take them!
Nooo! My poor Sparschwein will die of hunger :(
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Yep, I'm a big fan of the approach of getting rid of smaller coins and just rounding at the register. The Netherlands already do this and I don't think anyone there misses the small coins.
Absolutely! I carry only a small wallet and hate coins in general. Totally could pass on 1 and 5 Cent coins. Throw them in a box at home (even 10 Cent coins) and have no idea on what to do with them. Brought them to a store once, but they would take 10% and you could only use the money in the store. Found a bank where you can bring them in for 5%, but you would have to roll them up yourself (definitely not gonna do their work and still give them 5%). Maybe I will put it in a chest and bury it somewhere in the forest near a playground so kids can go treasure hunting :D
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We should have gotten rid of them some time ago.
Good riddance! I never use them, collect them and bring them to one of the few banks that still accept coins.
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Aren't there already some Euro-Countries that abolished 1 and 2 cent coins?
Just looked it up: Finland, Netherlands, Belgium, Italy and Ireland.
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It hasn't been a thing in Ireland since 2015. We have a rounding system in place for cash transactions
Children in elementary schools use coins as an example to learn calculating. They need the 1 cent coins. Is nobody here thinking about the children?
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Canada got rid of pennies (one-cent pieces) over 10 years ago. Now millennials can't buy houses. Coincidence? ;)
Hungary has in the recent past got rid of 1 and 2 HUF coins. Prices can still be XX99, only total transaction amounts have to be rounded according to official rounding laws, but only if in cash.
It works.
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As a swiss person, I get surprised every time the price doesn't automatically round to the next multiple of 5 cents when I'm in the EU. So yes, get rid of them.
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Does anyone else think it's a little backwards that the large denominations are fragile paper bills, but the small ones are metal coins sometimes worth less than the metal in the coin? Shouldn't the large denominations be coins, which last longer, and the small denominations be bills, which are easier to carry in large quantities?
I would guess that small denominations are used more frequently in cash transactions and are worn down much quicker. Therefore, it is probably reasonable to use the more durable coins for those instead of having to replace paper bills all the time in large quantities
I just put 1,2 and 5 cents in my kid's piggybank instead of carrying em around.
your poor kid xD
They would be even poorer if I wouldn't do it
I don't have them when paying with my Amexβ¦ And if I have too much of them, I'm kindly asking at the drinks store if I can throw them into their coin counter for payment when not many customers are there. If everything fails I wait until I have 11800 one-cent coins or a mix with 2 cent to pay that β¬118 every 10 years for ID card and passport. Which astonishingly is machine-payable with One and Two-Cent coins.
If you need ways to get rid of them:
- gift them to me, :D Or I'll PayPal it back to you.
- have a bank account at one of the old, expensive classical banks here in Germany, they usually take them. Don't have the cheapest account there. Take their kind of all-inclusive account model.
- Go to your nearest "Deutsche Bundesbank" and take your foreign coins and banknotes with you, they have to exchange it for you as long as all the money you bring is or was valid payment money somewhere.
- supermarket self-service machines
- Get to your nearest SpΓ€ti (in Berlin) or kiosk store and ask the owner if he needs 1 Cent coins. Some give a small discount for you being the person, making sure they'll not get into trouble with missing 1 Cent coins. And some just trust that the thousands of coins you bring is roughly what you counted.
Avoid:
- Coinstar, 10+ % fee (or any other machine that's not a self-service cash register)
- rush hour on counting machines not fully used as self-service β ask the store when it's okay to come with so much money β those machines take some time to count your thousands of coins.
So in conclusion: Stores would want to do β¬,99 prices, because that's why you can steal a whole other Euro for every item the customer grabs. Doing .95 would change that unless everyone does it or is forced to do that. Because the lobby from these businesses is too big, we will not see the 1-cent and 2-cent pieces disappear. Milk business will complain that they can't afford selling at 4 cent less and all the others would just make everything + β¬1, so β¬1.99 becomes β¬2.95 and so on.
You shouldn't force the economy to change prices if you don't see them illegally changing prices. Because everything will be getting unnecessarily more expensive then. Enforced pricing should always be a price decrease.
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croatian here, we recently, in january of this year, switched to euro. im still mindblown by how much 1 cent is (like, 7.5 times more than 1 lipa was). and since i already carry 10 times more coins now then when i did when we used kunas, i really dont mind the 1 and 2 cent coins. in fact, a lot of things here cost x.x3 or x.x7 β¬, so its quite convenient to have some cents in your wallet
Damn that's interesting. In Germany you can maybe get something for 10 cent somewhere, but everything else is at least 20 or 50 cent ^^
I never accept 1,2 and 5 cent coins. This probably adds up to 3β¬ a year, which is affordable to me
Yeah it's always so weird to me, people pay 100x that for other minor conveniences.
Aren't 10p pieces now worth less than the Β½p when it was removed from circulation? It's not just 1 and 2 that are overdue
They are annoying. I save up a big jar of just 1 and 2 pieces and go to the marts that have self checkouts and take coins and just dump em all in. Otherwise useless
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In Romania we have Lei and Bani. Works the same as Euro and cents. We only have 10 and 50 bani coins. And generally we round to the nearest 50 bani.
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