Should the UK ditch the one penny coin like Canada?

[super jumbe]

Go shopping at any shop in Canada and you may notice that something is missing in your change - the one penny or cent.

The coin is being withdrawn from circulation by the Canadian government. From Monday, change must be rounded up or down to the nearest five cents.

Link: BBC News - Should the UK ditch the one penny coin like Canada?

[nara]

Yes, it's an irrelevant nuisance.

[gmb45]

wouldnt mind a 20 ton lorry full

[super jumbe]

The poor people may be affected as the abolition of the farthing in 1961 and that of the half penny in 1984 did not make much impact on smaller firms but it did affect the poor people.

For example when we fill our petrol at the pump when we stop the pump nozzle it always stops at either ?9.99 or ?29.99 so every time we fill petrol we will not get the penny back when they abolish the penny, that?s my view?

[nara]

wouldnt mind a 20 ton lorry full

I doubt it.

"This might come as a surprise, but according to the Royal Mint, 1p and 2p coins are legal tender only if you are paying for something costing 20p or less: once you have amassed 21 or more 1p pieces, your coins contravene the Coinage Act 1971 if used in a single transaction. Even if you are buying penny sweets."

What can you pay for with 1p and 2p coins? Not an ?800 bill ? | Money | The Guardian

[firemouth]

I doubt it.

"This might come as a surprise, but according to the Royal Mint, 1p and 2p coins are legal tender only if you are paying for something costing 20p or less: once you have amassed 21 or more 1p pieces, your coins contravene the Coinage Act 1971 if used in a single transaction. Even if you are buying penny sweets."

What can you pay for with 1p and 2p coins? Not an ?800 bill ? | Money | The Guardian

but if you bag them up a bank will take all you have.
after all they sell em in ?1 bags themselves.
though I'm sure they will charge you something for their efforts.

I'll admit that was something of a surprise.
other counage rules here. Legal Tender Guidelines

[Meat-Head]

For example when we fill our petrol at the pump when we stop the pump nozzle it always stops at either ?9.99 or ?29.99 so every time we fill petrol we will not get the penny back when they abolish the penny, that?s my view?

Yes agree with that, so as normal the consumer looses again.

Have been meaning for AGES to look for the thread 'what is a penny worth' or something in general chat, keep meanin gto bump it.

where possable ALWAYS give costomers the shiney coins not the older pre 1992 ones.

Here in Ingland pre 1992 pennys wre copper post then had metal in them.

If yiu buy from Aldi some action man thing for your nephew and his head comes off, you contact the shop to be told "We have your money **k off"

you end up driiling a round piece of metal the same dimensions as a 1 Pence coin, to repair said figre with a self tapping screw

[thered]

What would the 99p store do??????

[Meat-Head]

What would the 99p store do??????

up grade to the $1 store.

i think it's a bad idea getting rid of pennys.

because

1) Ideal to flip off the Effieal Tower (Rumor)

2) Can be used to programme kids to count

3) end user will end up paying more

What about paypal - and ebay will we see 1p or then 5p?

[thered]

I doubt it.

"This might come as a surprise, but according to the Royal Mint, 1p and 2p coins are legal tender only if you are paying for something costing 20p or less: once you have amassed 21 or more 1p pieces, your coins contravene the Coinage Act 1971 if used in a single transaction. Even if you are buying penny sweets."

What can you pay for with 1p and 2p coins? Not an ?800 bill ? | Money | The Guardian

Now theres something i didnt know


Its possible a judge may have been more leniant if the person had saved them up at home but this guy has actually purposely gone to the bank to pi55 people off

I have never been refused to be accepted with pennies and two pennies but not for that amount.

Btw to Firemouth i took some pound coins to Santander around ?1400 worth they nearly refused to accept it they told me they had policy to accept only ?100 in money bags but they would do it this once. I have found that when i taken a collection of copper in bags to bank they can be a bit funny.


But a good solution for people is self scans at checkouts not much hassle and dont charge like coinstar

[cactikid]

yes get rid of the penny,so the new saying gone to spend a penny [ going to the loo ] will now cost ?1 inflation

[daithi]

there was a similar instance in ireland with the 1 cent coin
it costs 1.6 cent to manufacture
and take into account there millions stored in random savings jars wishing ponds ****ed away the government is losing a fortune producing them

take it the 1p coin is similar in uk

[thered]

Does it mean the end of the advertising scam that is ?99.99


?100 seems a lot more expensive dont it?

[GastonJ]

Everything would go up in price of course.

However if they stopped making them and perhaps saved, what ?20 million a year, would I get that saving back direct into my pocket? If not who's expenses would it go on? It's all very well and good the government saying it would save money, but they save money and it disappears into someone elses pocket every time without fail.

[thered]

Everything would go up in price of course.

However if they stopped making them and perhaps saved, what ?20 million a year, would I get that saving back direct into my pocket? If not who's expenses would it go on? It's all very well and good the government saying it would save money, but they save money and it disappears into someone elses pocket every time without fail.

It would pay for some nice fish to go in their duck moats