The End Of Copper Change ? (poll)

Discussion in 'The Intelligence Cell' started by ALVIN, Apr 20, 2010.

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  1. We all know how quick it is to accumulate copper change in our pockets, as well as being frustrating to get rid of this now almost "worthless" denomination.
    The question is........ Should the 1p and 2p coin's now be abolished, leaving the 5p coin as the lowest denomination of our currency system??
  2. When I were a lad, I could go oot, drink fourteen pints, have a shag and a fish supper and still have change from a farthing, and mind you still get oop before I went to bed etc etc.
  3. Can you still buy a penny bubblie ?
  4. So what would have cost 99p will either cost 95p, or £1. I know which it will go.
  5. Yes, they should have been binned years ago. I pay for everything possible with a debit card. The only time I use cash are on the piss and buying parking tickets.
  6. And every time petrol goes up it rises by 5p as a ta!!! The thieving scum bag in No. 10 would love this little stealth tax rise. :x
  7. When we got rid of them in Australia I used to deliver 44gal drums full of the bloody things to the reserve bank.
  8. I never carry copper change in my pocket. It all goes in a jar by my bed and then gets emptied into one of those change machines in Morrisons. It gives you a coupon to redeem in the shop (less a percentage for the machine operator). Mind you I'm using less and less change anyway.
  9. Yup.. mine all goes into a large sealed tin apart from 50p's and Pound coins.. then coming up to Xmas every year it gets cut open, counted up and/or exchanged in one of those money machines and spent in the supermarket on Xmas goodies... or booze as its known by me... :D
  10. :? You pay for the privilege of using the machine?

    I am not sure which is worse, the fact that the company can make a profit doing this or that there are people gullible enough to let them.

    My bank has one of these machines in the lobby and the full amount goes into my bank account.
  11. The Netherlands abolished 1 and 2 cent coins ages ago (decades), had them back briefly after the euro came in, then abolished them again. It's great. It's also devilishly simple:

    No prices on items were changed (99 cent items are still 99 cents): if you pay by debit card you pay exactly what the till says.
    If you pay by cash, if the last digit on the till total is 8, 9, 0, 1 or 2 you round to the "0" value, and if the last digit is 3, 4, 5, 6 or 7 you round to the "5" value.

    Before bringing it back in they did a load of actuarial studies to see if it was going to result in people being screwed by rounding up more often than rounding down. The results were simple: it was completely neutral.

    Of course you allegedly get the tight gits who pay cash if it will be rounded down and card if it would be rounded up.

    Another major issue with small changes that it is devilishly expensive for shops to handle -- high bulk, high weight, low value. It also would not surprise me if, these days, ones and twos did not cost more to produce than their face value.

    You really notice the difference when you are back in the UK, or even Germany -- your wallet ends up full of useless low value coins.

    Mag to grid!
  12. A slight tangent, but it wont be long before shops actually have a big preference for cards instead of cash. I know of a few businesses where the banks charge for handling cash has steadly risen over the past few years to nearly the same as card transaction charges. Keep this going and they will essentially be losing money by accepting cash.

    On topic, i can see them disappearing as people dont like them though stoatmans idea is too sensible for here and would confuse too many idiots. But personally i dont care, i hardly carry small change as i always unload it into the first chairty in i see.
  13. Keep 'em. It makes donations in sealed envelopes seem bigger.
  14. Is this all pure speculation or is it a stealth tax on its way in??
  15. I have a large tub of coppers and other small change (anything under 50p really) as I never carry them around. It's a great way of 'saving' a bit of money without evening noticing it as all you do it chuck your random change in there after amassing a bunch of it. Not that I've ever cashed it in though! It's far too heavy to take anywhere to actually cash it.