One and two cent coins to disappear

Delta2113

http://www.independent.ie/business/personal-finance/latest-news/exclusive-plan-to-scrap-one-and-two-cent-coins-gets-government-goahead-31302148.html



'Government is set to approve the removing of one and two cent coins from circulation nationally'

coylemj

Please let them be declared not legal tender immediately or that you have to bag them and go to the Central Bank with them. I dread what's going to happen in supermarkets for the next few months as people unload bags and bags of small coins at the checkout or hog the cashier desk in the credit union with a mountain of coppers.

Anyone with a big Smirnoff bottle full of small copper coins can FRO if they think I'm going to wait in line while the checkout girl in Lidl counts them.

andrew

coylemj wrote: »

Please let them be declared not legal tender immediately or that you have to bag them and go to the Central Bank with them. I dread what's going to happen in supermarkets for the next few months as people unload bags and bags of small coins at the checkout or hog the cashier desk in the credit union with a mountain of coppers.

Anyone with a big Smirnoff bottle full of small copper coins can FRO if they think I'm going to wait in line while the checkout girl in Lidl counts them.

The CBI/Ireland doesn't have the power to officially declare them not legal tender. It'll just be the generally accepted practice to not use them.

28064212

Checkout person in Lidl can (and should) refuse to accept any transaction involving more than 50 coins

Busted Flat.

Great boost to service stations Litre up 5c at a time, now who could that benefit somehow a name rings a bell.
I'll go have a pint and think about it.

GerardKeating

Busted Flat. wrote: »

Great boost to service stations Litre up 5c at a time, now who could that benefit somehow a name rings a bell.
I'll go have a pint and think about it.

Not need to change prices, just round the final total (if paying with cash) or as is, if paying by card.

donegal.

Busted Flat. wrote: »

Great boost to service stations Litre up 5c at a time, now who could that benefit somehow a name rings a bell.
I'll go have a pint and think about it.

when you're filling up just make the total price ends with 1,2,6 or 7 cents.

he'll be on his knees in no time

homer911

donegal. wrote: »

when you're filling up just make the total price ends with 1,2,6 or 7 cents.

he'll be on his knees in no time

I'm sure petrol stations are well used to customers slipping past the 20/30/40/50 Euro by a cent or two and having to round it down..

Saipanne

Better cash the old box in. I just use those Coinstar yokes.

endacl

Bloody stupid idea introducing them in the first place. We did away with the half penny in 1987 and introduced a daft little disc that was worth substantially less in real terms in 2002.

The one cent coin costs 1.7 cents to produce. Minting 1 & 2 cent coins is straight from the script of Brewster's Millions. Even counting and bagging 1s and 2s, and bringing them to the bank, isn't a couple of euros worth of anybody's time. To say nothing of paying the charge for a counter transaction in the bank.

Whichever idiotic Eurocrat decided they were a good idea in the first place should be made sit down and eat his bodyweight in 1 and 2 cent coins.

coylemj

Busted Flat. wrote: »

Great boost to service stations Litre up 5c at a time, now who could that benefit somehow a name rings a bell.
I'll go have a pint and think about it.

Another DO'B conspiracy :mad:

Petrol and Diesel is already priced to a single decimal place, this proposal will have no effect on that business.

It's the final price at the cash register that will be rounded, not the price of individual items (of groceries) or the unit price in the case of fuel.

Superquinn did this a long time ago when Fergal Quinn decided that the old decimal ha'penny was a PITA. A lot of individual items still had prices which included half pennies and these were clocked up at the checkout but if the grand total included a half penny, it was disregarded.

BuffyBot

Yup, enough with the stupid conspiracy theories folks. Have some common sense..

Fol20

The same system is used in Australia and i have to admit its much better. If you pay by card you will pay the exact amount. If you pay by cash it will be rounded up or down to the nearest 5cent. sometime it will cost you an extra few cent and other times youll save a few cent. Much handier than having tons of pointless cents stacking up.

Lets home it wont takes years to introduce this.

duffman13

Yep loved it in Australia, makes things a lot easier. As for the garages/DOB comment, you need to think before you write. The price of petrol and diesel is still priced the exact same way in countries that have introduced this. Same with food, drink and services. The rounding only occurs on the final total ie my weekly shop that was 56.02 would be rounded to 56. Not rocket science and you won't notice anything changing with prices bar your final bill.

NIMAN

Sooner the better. Fed up looking at them!

Sheldons Brain

duffman13 wrote: »

Yep loved it in Australia, makes things a lot easier. As for the garages/DOB comment, you need to think before you write. The price of petrol and diesel is still priced the exact same way in countries that have introduced this. Same with food, drink and services. The rounding only occurs on the final total ie my weekly shop that was 56.02 would be rounded to 56. Not rocket science and you won't notice anything changing with prices bar your final bill.

Nobody objects to rounding down, but rounding up is legalised overcharging.

KingBrian2

Good day for humanity. An end to 1 and 2 cent coins.

lulu1

Must have 40 or 50 euro worth of 1 and 2 cent counted and in plastic bags.

First stop tomorrow is the bank

Swanley

Lulu come to Harry!

coylemj

I believe Germany has been doing this for a while - did I read that they never bothered with the 1c and 2c coins?

To Elland Back

Sheldons Brain wrote: »

Nobody objects to rounding down, but rounding up is legalised overcharging.

Add up all the cash transactions you do in a year where rounding is applied. If the ratio for rounding up was 3:1, you would still hardly lose €5 for the 12 months.

I'd say we all experience accidental short changing of at least twice that a year

BuffyBot

I've just had to prune nonsense from this thread.

Mod warnings are not posted for the sake of it..

homer911

http://waterfordwhispersnews.com/2015/06/16/coin-scrapage-to-see-shops-round-everything-up-to-the-nearest-tenner/

Delta2113

http://www.thejournal.ie/pockets-lighter-cents-central-bank-2165242-Jun2015/

Here’s what we know so far:

Rounding will be conducted on a voluntary basis
1c and 2c coins will remain legal tender
rounding will apply only to cash payments
the total amount of any bill will be rounded down or up to the nearest 5c

Colm R

Delta2113 wrote: »

http://www.thejournal.ie/pockets-lighter-cents-central-bank-2165242-Jun2015/

Here’s what we know so far:

Rounding will be conducted on a voluntary basis
1c and 2c coins will remain legal tender
rounding will apply only to cash payments
the total amount of any bill will be rounded down or up to the nearest 5c

Some (a lot of the comments) in that article would break your heart!

coylemj

BuffyBot wrote: »

I've just had to prune nonsense from this thread.

You missed this one...

Sheldons Brain wrote: »

Nobody objects to rounding down, but rounding up is legalised overcharging.

Delta2113

You are paying more if you have it rounded up but I believe this will be voluntary so you can refuse and just get the full change back is my understanding.

coylemj

Delta2113 wrote: »

You are paying more if you have it rounded up but I believe this will be voluntary so you can refuse and just get the full change back is my understanding.

This being Ireland, no doubt there will be customers who will try to choose the option which suits them i.e. round up - no thanks, round down - great idea.

I'd say retailers will have signs up saying that this pub/grocer/chipper rounds - take it or leave it. What's going to happen is that retailers will take in 1c and 2c coins but will not give them out in change so they will quickly disappear. This is what happened in Feb. 1971 when the currency was decimalised, the plan was for the transition to take several months, in fact the old penny, threepence and sixpence coins disappeared in a matter of days. All it took was for each person to execute two or three retail transactions and they were quickly relieved of the old money.

Chris_5339762

Saipanne wrote: »

Better cash the old box in. I just use those Coinstar yokes.

Those things cost a small fortune to use. The % is takes as 'payment' is quite high.