Politics0 min ago
Ban the penny.
Australia and New Zealand have abolished the 1 cent and 2 cent coins. There is a argument for us to follow.
- When the 1 New Penny was introduced in 1971 it was worth something. Now, due to inflation it is worth a fraction of what it was.
- It costs more than 1p to mint it.
- Rounding is more truthful. £2 instead of £1.99.
- The weight and pocket wearage are unnecessary.
- When the 1 New Penny was introduced in 1971 it was worth something. Now, due to inflation it is worth a fraction of what it was.
- It costs more than 1p to mint it.
- Rounding is more truthful. £2 instead of £1.99.
- The weight and pocket wearage are unnecessary.
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http://news.bbc.co.uk.../magazine/4900524.stm
An alternative to abolishing our 'copper' coinage (it is made mostly of steel), would be to replace the metal with a cheaper alternative, such as Aluminium.
An alternative to abolishing our 'copper' coinage (it is made mostly of steel), would be to replace the metal with a cheaper alternative, such as Aluminium.
The main problem I would see is that if they retired 1p coins and you needed 6p in change it would be all in 2ps; and what about if you actually needed 1p change? I know this wouldn't happen much if the prices were rounded up/down but I should think it would still happen sometimes; for example at petrol stations where it's difficult to stop dead on a round number on the pump.
Abolish the 1p coin?
NEVER!
I've spent many hours of my life stuck behind some old fogey in a queue, while they fiddle through all of their pockets so that they can 'helpfully' provide exactly the right money to a cashier. Now that I'm reaching the age where it's MY turn to hold everyone else up, I want more low value coins in circulation, not fewer!
;-)
NEVER!
I've spent many hours of my life stuck behind some old fogey in a queue, while they fiddle through all of their pockets so that they can 'helpfully' provide exactly the right money to a cashier. Now that I'm reaching the age where it's MY turn to hold everyone else up, I want more low value coins in circulation, not fewer!
;-)
