Coins

[Kangar00]

I was thinking about various coins and their value. 1p, 2p and 5p have so little value surely it costs more to mint them than you can actually buy things with them. Are we creating a loss by making new ones. Or have I completely lost the plot and got confused by this. If it cost say ten pence of metal to make a 5p coin who pays for the deficit? Help. Confused!

Don’t they weigh like one gram? Surely can’t be that expensive to press them. If you look at some metal necklaces in cheap shops, you can pick up lots of ornamental metal for peanuts and that includes all the profits for people along the way.

They are an anachronism, even for someone struggling by on JSA, 2p represents just 0.03% of their income. Be honest, how many people genuinely miss the 1/2p?

Apparently the Royal Mint have to produce more than 500 million 1p and 2p coins, because supposedly the majority are only used once or twice before being discarded or put into penny jars.
I hate them, I get rid of most of mine in charity boxes or the penny jar I have, which I will probably never get round to doing anything with.

Ireland seemed to have managed since they got rid of 1¢ and 2¢ coins.

I would be happy to get rid of 1 and 2p coins

Charities want them to stay

and at the seaside, the 2p machines are hours of fun for sod all money

small change has its uses that are not raw economics

in the US, pennies are great
in Yerp, euro one cent coins are great for hacked off tips

It costs more than 1 or 2 p to make those coins but I don't think it's the same for the 5 ps.

Throwing away money is insane. SUrely you can put it in the multitude of charity boxes if you don't want it?

I put mine in the do it yourself till at the supermarket. Scan through shopping, throw in 28p of coppers out of purse, pay the rest by card, easy peasy.