1 and 2 cents should be done away with!

--Kaiser-- · 25-01-2012 10:56AM

yuppies wrote: »

Does anybody ever use either of these in their financial transactions? They are essentially worthless. I have a container in my room half full of them and yet there's probably only about 3 or 4 euro it!

http://www.anthonykelly.com/inflation.html

According to this calculator, 1p in 1971 was equivalent to about 15c today (therefore, even a halfpenny was worth 7.5c today); ie. those coins had a reason to exist.
(50p incidentally seems to have been worth €7.50, which seems very valuable for a coin..)

I'm sure there would be economic benefits if 5 cent, or even 10 cent, were the smallest denomination coin, as people would be less likely to hoard/lose coins at home? And I'd imagine prices that are currently €3.99 would just go up to €4?

This is probably the only time I've agreed with a proposal put forward by someone on After Hours

o1s1n · 25-01-2012 11:00AM

I wonder how much a 1c coin costs to manufacture?

ArmaniJeanss · 25-01-2012 11:14AM

gerbear1 wrote: »

Really? So you're discriminated against for paying by card? That seems stupid to me.

The idea of pricing everything in denominations of 5c seems to make sense.

What about items sold by weight then, the likes of fruit and vegatables?

Rounding the total bill to 5c is fine, having individual items in units of 5c is less good.

o1s1n wrote: »

I wonder how much a 1c coin costs to manufacture?

Just over 1.5c apparently.
Though its a meaningless figure - cost per individual usage is more relevant so if it gets used in 100 transactions then its .015c per transaction.

Pissmire · 25-01-2012 12:16PM

A washer costs 10c. So it's cheaper to use anything up to 10c as a washer, as it saves on the fuel it takes to drive to the washer shop.

AnonoBoy · 25-01-2012 12:17PM

But what will I fling at my butler when he displeases me if they do away with the coppers?

Jesus Wept · 25-01-2012 02:30PM

Mellor wrote: »

Is it really that hard to grasp??

They don't round every item, they round the bill.
So everything is still priced 1.99 or 99c etc.
Even randon prices like $3.76, just like Ireland.
Why would their pricing/profit margin be any different out ours.

At the checkout, they round your bill up or down if paying by cash.
So if you by ten things costing $1.93, you pay $19.30.
That's why its is priced that amount.

edit: Same in Oz, except rounded to the nearest 5c

If you pay on the card, then you pay the exact cent amount.

I'd make sure to pay by card if it were 6, 7, 8 or 9 and pay by cash if it were 1 2, 3, 4. :cool::cool::cool::cool::cool::cool::cool:

shop hack.

Overheal · 25-01-2012 02:36PM

Pride Fighter wrote: »

Possibly American style pricing. In many American states, 10$ items are 10$ without VAT. The VAT makes the 10$ thing 11.46 or whatever number hypothetically.

VAT and Sales Tax are not functionally the same thing.

I suppose it makes little difference in the long run though. The amount of people that ask me "How much is that with the sales tax?" I want to shoot them in the face. The law is pretty clear on sales tax. I'm not charging you the sales tax the State is. Whats even worse is people that ask if I can give them a discount for the cost of the tax. I typically just lose my patience and tell them off.

elefant · 25-01-2012 02:37PM

The-Rigger wrote: »

I'd make sure to pay by card if it were 6, 7, 8 or 9 and pay by cash if it were 1 2, 3, 4. :cool::cool::cool::cool::cool::cool::cool:

shop hack.

Actually, you should pay by cash if it's a 1,2,6 or 7.

The 3,4,8 and 9 would be rounded up.

Jesus Wept · 25-01-2012 02:40PM

elefant wrote: »

Actually, you should pay by cash if it's a 1,2,6 or 7.

The 3,4,8 and 9 would be rounded up.

ah yes. That's what I said. :cool::p
I just woke up. :-/

dsmythy · 25-01-2012 02:42PM

If I'm using public transport or I'm going to buy something I know the price of I get the little monies out for the last 20c or so of the price. Then they are spent.

Nothingbetter2d · 25-01-2012 03:48PM

how long before the zimbabwean dollar is worth more than a euro?

dsmythy · 25-01-2012 05:42PM

Nothingbetter2d wrote: »

how long before the zimbabwean dollar is worth more than a euro?

Never.

Niles · 26-01-2012 04:32AM

nummnutts wrote: »

Penny sweets were great.

I remember going into shops looking for 100 penny sweets. The cashier wouldn't bother their arse counting them, and instead just fill a bag full of them.

Those were the days.

I know someone who used to literally ask for the whatever amount of change they had in their pocket, and the shopkeeper going to the trouble of counting a figure like 67 sweets!

Bullchomper · 26-01-2012 04:40AM

JerryHandbag wrote: »

I throw all my 1c and 2c coins into a shoebox, waiting til it amounts to about 20 quid, and then put it all on a horse.

That's silly. It'll fall off.

Mellor · 26-01-2012 06:30AM

gerbear1 wrote: »

Really? So you're discriminated against for paying by card? That seems stupid to me.

The idea of pricing everything in denominations of 5c seems to make sense.

How exactly are you discriminated against when you pay by card?
The times they don't round you down, will cancel out the times they don't round you up.
And as The_Rigger pointed out, you can choose to pay cash when it will go down, and pay card to prevent it going to. Saving money.

This is pretty basic maths, like primary school stuff. Early primary school. Inability to grasp it is a bit sad really. The education system has failed you.

quietriot · 26-01-2012 06:34AM

I'm not sure why they bother distributing 1c and 2c coins anymore. They should get rid of them and retailers should price things to the fifth cent.

They could use the opportunity to introduce €5 coins. €5 coins, apart from being cool, would lead to an increase in spending as it has been shown that people spend coins easier than notes. We could mint it with a picture of Merkel and Sarkozy together giving two thumbs up. Would be awesome.

Stiffler2 · 28-01-2012 10:14PM

If you get rid of 1 and 2 cents. How will Enda pay me after tax ????

karaokeman · 28-01-2012 10:22PM

Its interesting, I've always been told the reason items are priced €3.99/€5.99 etc is because they would sound more expensive if they were €4/€6.

But I know what you mean, I have a money jar loaded with 1c and 2c coins and all I ever want to do is get them changed and have an extra €1 and €2 coins for my jar and I would probably only get one of each for the sheer number of small cent coins I have.

Liam Byrne · 28-01-2012 10:24PM

CatFromHue wrote: »

In New Zealand there are no 1,2, and 5 cent coins. If you go to the shop and something is $1.97 you pay $2, if it's $1.93 you pay $1.90. It's a pretty good system if you ask me.

The same in Oz. but it's not the individual item that counts, it's the total bill that gets rounded up or down.

If it happened in this ****hole you can be guaranteed that every single individual item would be rounded up, meaning you'd pay up to 40c extra for 10 items.

LH Pathe · 29-01-2012 03:26AM

Agreed I always throw em out.

Not like back in the day < there when you could afford something with less than 5p

/is the 5c copper too? If so, I bn binning them too - never a single parent collection jar handy.

browner85 · 29-01-2012 03:34AM

i think spain used to use a similar setup before the euro everything as rounded off.

29-01-2012 03:36AM

Guy:Incognito wrote: »

Thats a stupid system. If theres no way of actually paying 1.93 for something why the **** does it cost 1.93?

Laser card?

Jesus Wept · 29-01-2012 04:34AM

Niles wrote: »

I know someone who used to literally ask for the whatever amount of change they had in their pocket, and the shopkeeper going to the trouble of counting a figure like 67 sweets!

I got 100 flogs before. She was a surly **** about it. Put me off flogs for life too after I got through eating them all.

wush06 · 29-01-2012 04:55AM

All this makes no cents to me

DEFTLEFTHAND · 29-01-2012 05:03AM

I've a money box shaped like a London Bus and it's full of 1 and 2 cents. It makes me feel wealthy and I have an everlasting supply of change. Please don't emotionally bankrupt me.

Mike 1972 · 29-01-2012 11:46AM

I dunno why people have this wierd attachment to one and two cent coins theyre worthless rubbish FFS

Is rounding really such a difficult concept to get ones head around ? Electricity and telephone units are priced to fractions of a cent as are litres of petrol but when a motorist puts 21 litres into their car they dont have to go looking for 0.1 cent coins FFS.

In the early 1980's decimal hapennys (0.6349 cent) were abolished In the 1960's Pre decimal farthings (0.132 cent) were abolished and on niether occassion did the sky fall in.

And no need for this faffing about with pricing individual items to the cent and rounding up at the till just price everything to the nearest 5 cent job done.

TheZohan wrote: »

Its a blatant 'false flag' operation by the powers that be.

Probably not although It could be a conspiricy to win people around and soften resistance to the idea of smart card payments and the "cashless society".

Pride Fighter wrote: »

Netherlands does not have 1 and 2 cent coins. All their prices are in 5's.

Are you sure. ?

Id heard that the Dutch central bank dont issue one or two cent coins but lots of coins from other Eurozone countries are still in circulation and I seem to remember getting them in change a few times

Then again I might have imagined the whole thing given that I was baked off my tits :pac:

kumate_champ07 · 29-01-2012 12:02PM

JerryHandbag wrote: »

I throw all my 1c and 2c coins into a shoebox, waiting til it amounts to about 20 quid, and then put it all on a horse.

does it take long to pick them all up if the box falls down?

theg81der · 29-01-2012 12:07PM

LH Pathe wrote: »

Agreed I always throw em out.

Not like back in the day < there when you could afford something with less than 5p

/is the 5c copper too? If so, I bn binning them too - never a single parent collection jar handy.

What?!!!!

kumate_champ07 · 29-01-2012 12:08PM

LH Pathe wrote: »

Agreed I always throw em out.

Not like back in the day < there when you could afford something with less than 5p

/is the 5c copper too? If so, I bn binning them too - never a single parent collection jar handy.

you actually throw away money? Trousers usually have 4 pockets, its easy to put a few copper coins in 1 of them and then put them into a jar when you get home. When the jar is full you have enough to buy a few essentials at the supermarket.

theg81der · 29-01-2012 12:16PM

kumate_champ07 wrote: »

you actually throw away money? Trousers usually have 4 pockets, its easy to put a few copper coins in 1 of them and then put them into a jar when you get home. When the jar is full you have enough to buy a few essentials at the supermarket.

I was actually going to post about an encounter with 2 single parents I had about 6 years ago. Neither working, brand new cars and boasting about throwing their coppers away. I was absolutely furious :mad:!! Wonder where they are now and if they`re still doing this. I use every last copper because by the end of the week thats often all I have.

1 and 2 cents should be done away with!

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