Redundant coinage.

After my trousers appearing half mast tother day, due to a load of change i wonder if we need our smaller coins. I usually save the 1p 2p 5p and 10p coins in a small pouch and when full give to whatever charity is collecting locally i dont think i would miss them

Re: Redundant coinage.

We collect our small change and put it in a charity bucket in the supermarket

Re: Redundant coinage.

I hardly ever get 1p and 2p coins in my change these days, nothing seems to cost anything to give these back tbh.
Those I do get go in the grandkids piggy bank.

Re: Redundant coinage.

We don't have any money smaller that the 5 cent piece (the old 6d). It amazed me when I was in England that you still have copper coins - they got rid of them here because they cost more to make than they were worth.

My kids throw the 5c and 10c coins away as being useless (I collect them) I don't think it will be long before the 5c goes too and perhaps even the 10c.

Re: Redundant coinage.

Anything less then a 20p goes into the grandkids money boxes

20s, 50s, and £1s all go into separate money boxes

We got into the habit of saving them when we had the trailer caravan and needed the coins for the showers and we just carried on. We change it up when a box is full and that pays for the house insurance each year

Re: Redundant coinage.

I have had a pocketful of shrapnel knocking around for a few weeks now, when I change my trousers/jeans, I just transfer the lot to the new pocket, along with a small pen knife, two wood screws and a fibre washer.

I'm glad I'm not the only one who's trousers end up at half mast. It's a bit of a family tradition for me.

Re: Redundant coinage.

Cheadle car park charges 30p for two hours, so I never throw away 10p and 5p coins or I'd have to use two 20p coins. That would be a waste of money, as the machines don't give change.

However, I see no point in our keeping copper coins. Somehow, I seem to acquire them all the time yet I never seem able to spend the things.

Re: Redundant coinage.

Hi

I empty my pockets every day

I have a £1 coin on my dashboard for trollilies.

Everything else goes into bags,even the 1p coins.

Amazing what it all adds up to.

It pays for my Corals.

Re: Redundant coinage.

http://www.bbc.co.uk/news/business-43388662

I see the treasury is going to review the status of one and two pence coins. They are also considering £50 notes, which aren't very popular either.

Re: Redundant coinage.

I can see some sense in this.

In 1974 (I think it was) 6d became 2 1/2p and 1/2d was of less than half value of 1/2p.
Naturally, items had to be re-valued.

The same will happen when 1p and 2p coins are no longer. Some items will be rounded down to the nearest 5p, others up to the nearest 5p.

There will still be competition amongst retailers: those who choose to round up will probably lose customers to those who choose to round down.

That's life. That's market forces.