Ireland to phase out 1 cent and 2 cent coins

TheBeardedLady

jonnypacket wrote: »

So which are you - poor or an illegal immigrant?

Only the poor and illegal immigrants use cash? Arse-talk, tbh.

jonnypacket

Egginacup wrote: »

I like both systems. Card is convenient but I also like having some cash and knowing what I've spent. I don't like paying with my card when I'm in the pub for example. Prefer paying for each beer with cash as I go along. If I run up a tab and pay with the card I tend to get a nasty surprise. I drink more and quicker and when I've thought I've had 5 pints I get the bill and it says I've quaffed down 8 or 9 and am half sossled. Kinda puts a dampener on the session.

Thankfully your personal drinking problems don't dictate national monetary policy.

jimgoose

jonnypacket wrote: »

Thankfully your personal drinking problems don't dictate national monetary policy.

Neither does pricking about with thru'penny bits, chief. Signed, yet another poor illegal immigrant.

Akrasia

jonnypacket wrote: »

Following successful trials in Wexford businesses over the past few months, the cabinet is set to approve the withdrawal of the 1 and 2 cent coins from circulation. Prices will be rounded to the nearest 5 cent if paying with cash, or will remain the same if paying by card.

I personally welcome this move. Several EU countries have already stopped minting the low denomination coins such as the Netherlands and Finland. The public tend to hoard the coins in jars and piggy banks so they don't circulate, costing the taxpayer millions to mint more. I presume the coins will remain legal tender for some time to come even though they'll no longer be minted here.

Excellent news
Now instead of trying to get the petrol pump to exactly 20 euros, I'll be trying to stop it at 20.02

jimgoose

Akrasia wrote: »

Excellent news
Now instead of trying to get the petrol pump to exactly 20 euros, I'll be trying to stop it at 20.02

I usually spend whatever change I haver on me on petrol, putting some notes with it of course. That way excess metal gets to carry me around rather than t'other way aboot!

The Dark Side

Akrasia wrote: »

Excellent news
Now instead of trying to get the petrol pump to exactly 20 euros, I'll be trying to stop it at 20.02

I was in Oz for a year and I always did this - it was like a strange compulsion whenever I was putting petrol in the car.

My friends used to laugh at me, but when I showed them the 92cents I saved over the year, they weren't laughing so hard then.

No sir-e.

Schwiiing

When you live in the sticks, get paid by cheque and the nearest ATM is a 15 mile round trip you pay for everything by card. My local shop tried to combat this by introducing a minimum spend of E10 to use a card so now I travel to town for everything and the local guy can go **** himself.

jimgoose

Egginacup wrote: »

I like both systems. Card is convenient but I also like having some cash and knowing what I've spent. I don't like paying with my card when I'm in the pub for example. Prefer paying for each beer with cash as I go along. If I run up a tab and pay with the card I tend to get a nasty surprise. I drink more and quicker and when I've thought I've had 5 pints I get the bill and it says I've quaffed down 8 or 9 and am half sossled. Kinda puts a dampener on the session.

Pretty much like that. I would however prefer if the local t'Woolpack operated a more American setup, i.e. you drink your porter away and settle up at the end with a MasterCard.

AMKC

I think this is a stupid idea and hope it never happens. If you don,t want to use 1cent or 2 cent coins then fine don,t use the save them up and give them to charity or but them into your Credit Union or bank account don,t moan about it. Why worry about how much it costs for them to make thats not our problem. I have no problem spending 1 and 2 cent coins. Things in this country are expensive enough as it is we don,t want/need to be paying more for them.

KevIRL

AMKC wrote: »

I think this is a stupid idea and hope it never happens. If you don,t want to use 1cent or 2 cent coins then fine don,t use the save them up and give them to charity or but them into your Credit Union or bank account don,t moan about it. Why worry about how much it costs for them to make thats not our problem. I have no problem spending 1 and 2 cent coins. Things in this country are expensive enough as it is we don,t want/need to be paying more for them.

Explain how you think this is going to drive up prices?

diomed

I predict Éirígí will block traffic on O'Connell Bridge to protest against Europe taking all our 1c and 2c coins to pay the bankers for the water.

Kev W

DuffleBag wrote: »

Bank card FTW. Only peasants use cash.

Only pricks call people peasants.

Kev W

AMKC wrote: »

Why worry about how much it costs for them to make thats not our problem.

I take it you don't pay taxes then?

Pumpkinseeds

KevIRL wrote: »

Explain how you think this is going to drive up prices?

I don't envision shops or supermarkets absorbing the lost revenue incurred in the rounding down of prices. Cutting a couple of cents off every cash transaction would cost them a fortune so they will seek to recoup that loss some way.

LadyFenghuang

You can't really use them anymore.

The only thing they are good for is saving them up changing them at the bank and giving to charity really.

jimgoose

Pumpkinseeds wrote: »

I don't envision shops or supermarkets absorbing the lost revenue incurred in the rounding down of prices. Cutting a couple of cents off every cash transaction would cost them a fortune so they will seek to recoup that loss some way.

Watch for prices slowly, almost imperceptibly, drifting up to the €*.*3 mark.

Kev W

Pumpkinseeds wrote: »

I don't envision shops or supermarkets absorbing the lost revenue incurred in the rounding down of prices. Cutting a couple of cents off every cash transaction would cost them a fortune so they will seek to recoup that loss some way.

It's not just rounding down, it's rounding up too. A total of 10.01 become 10.05 and so on.

ronjo

Will this mean skinflints will be in Supermarkets trying to pay for a load of things separately??

If you have two items each costing 1.02 they will pay 1 Euro each or 2.05 for the pair

Egginacup

smash wrote: »

TL/DR? The price of everything is about to rise!

Not really. It's rounded to the NEAREST 5 cents. They do this in the Netherlands.
If an item is 1.99 it's rounded up to 2.00 but if you buy 3 items for 1.99, i.e. 5.97, it's rounded down to 5.95.

Enjoy Heroin Responsibly

jonnypacket wrote: »

Prices will be rounded to the nearest 5 cent if paying with cash, or will remain the same if paying by card..

bruschi wrote: »

if your total shop came to 41.52, you paid 41.50. There could have been 20 things in that with 1 or 2 cent in its price, but its only at the end that the rounding happens.

Whats the point ?

We don't sell anything (other than litres of petrol/diesel for some reason) in unit prices of to fractions of one cent right now so why is it such a problem to round unit prices of individual items to increments of five cents ?

And it doesn't NECESSAIRLY mean price increases across the board. An item which costs €1.99 now could be rounded up to €2 or it could be rounded down to €1.95

one and two cent coins are worthless rubbish which should never have been introduced in the first place and the rest of the euro coin set is pretty crap too. Most of the non Eurozone EU countries (e.g. UK Czech and Poland) have much better coins.

Eugene Norman

jimgoose wrote: »

Watch for prices slowly, almost imperceptibly, drifting up to the €*.*3 mark.

Wouldn't work if people bought 2 items.

murpho999

Kev W wrote: »

It's not just rounding down, it's rounding up too. A total of 10.01 become 10.05 and so on.

No it'll become €10.00

1 & 2 ct will be rounded down to zero and 3 and 4 ct will rounded up to 5ct. Simple really.

Eugene Norman

Good idea. I really only use coins for pubs and under 2€ purchases as it is.

If the smart phone wallets take off, even better.

Akrasia

murpho999 wrote: »

No it'll become €10.00

1 & 2 ct will be rounded down to zero and 3 and 4 ct will rounded up to 5ct. Simple really.

But what will 5 be rounded to??

AAAHH my brain!!

ScumLord

jonnypacket wrote: »

Prices will remain the same if paying with card. You should be charged a premium if you insist on paying with cash, in my opinion. It's an antiquated method of payment the belongs in the last century and involves costly security transportation to banks not to mention time wastage in counting it.

Debit card master race here.

The banks love you, I don't see cash being phased out any time soon. Not as long as the alternative is the banks getting a cut of every transaction of money made in the country.

I can appreciate they have overheads from providing the system but it's certainly not €0.20 a transaction overheads, that's obscene profiteering. After all the crap the banks put this country through and the money they took to bail themselves out of the hole they dug from themselves.. All the while they're quietly worming their way into getting a cut of every purchase made in the country. Think of how much money that must generate.

jimgoose

Eugene Norman wrote: »

Wouldn't work if people bought 2 items.

Will if prices magically drift towards €*.*4. I hope I'm wrong, but this being Ireland it wouldn't surprise me at all if this was used to ride us sideways yet again. :pac:

DuffleBag

Kev W wrote: »

It's not just rounding down, it's rounding up too. A total of 10.01 become 10.05 and so on.

*Facepalm*

Looks like the whole irish maths system needs to be revisited. A new AH topic perhaps

Collie D

Akrasia wrote: »

But what will 5 be rounded to??

AAAHH my brain!!

I think you're joking but will answer anyway. It's only one and two cent coins. Anything costing €x.x5 will still cost that much.

ScumLord

Kev W wrote: »

It's not just rounding down, it's rounding up too. A total of 10.01 become 10.05 and so on.

They can try doing that, then the next shop down the road will round down and put up a big sign saying they're cheaper than the guy that rounded up.

the groutch

m

Enjoy Heroin Responsibly wrote: »

And it doesn't NECESSAIRLY mean price increases across the board. An item which costs €1.99 now could be rounded up to €2 or it could be rounded down to €1.95

more likely to see stuff rounded to €x.95, although anything priced at €x.49 will probably be rounded up.
overall I'd say it'll all balance out.