Shoppers in Wexford Town will stop using one and two cent coins from today, in a trial that could see them removed from circulation nationwide.
The two-month-long ‘Rounding Trial’, run by the Central Bank, plans to assess the reaction of both consumers and retailers once the coin experiment comes to an end.
The Government will have the final say on whether the scheme will be taken any further.
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So if you're buying something for €1.26 it gets rounded down to €1.25 and something for €1.29 will now cost €1.30. I think rounding is pretty silly. 1c and 2c should be removed fully and shops should be banned for selling products that would require the use of such coins. The idea to remove them is a good one but the way its being put into practice in Wexford Town is wrong. 1c and 2c coins are a nuisance to business and customers and it's estimated that the majority of 1c and 2c coins spend the majority of their use in jars and not actually in circulation.
Something for €9.99 is psychological pricing. The cost to produce a 1c coin is 1.07c and the cost to produce a 2c coin is over 2c too. So what do you say AH; Ban these dammed coins?