Should the UK ditch the one penny coin like Canada?

[DogdySnigwirter]

Get rid of the 1p coin and the ?1 coin and replace them both with 99p coin !!

[nara]

Get rid of the 1p coin and the ?1 coin and replace them both with 99p coin !!

That's a Meat-Head solution.

[manxspud]

Yep only shorter

[cactikid]

is the 1p magnetic as is the 1c no bending down use my telescopic magnet to retrieve it

[Mjolinor]

When they started issuing steel ones I started collecting the non magnetic ones. They are worth about 3 times the face value to scrap now. I saved them to use as washers and connectors for things that I make.

[GastonJ]

I do wonder how long the 2 pence coin will last. For it's size it really must cost more to make than it's worth. Perhaps they just ought to scrap the 'copper' coins and stick with 5's, 10's, 20's and 50's. Probably save the mint a (uhm) mint, will save shops having to carry round massive bags for the sake of ?20 woth of copper coins, and would *spit* save the banks money by not having to wegh them, bag them and so on. Shops would profit the most in the longer term by the price of everything going up, and maybe charities would lose?

However not one to give things to the government for free, I'd want to know how much they saved year on year from it and that the savings were a) not passed onto the bankers who have more than enough of our money, and b) not spent on stupid schemes that mean the government waste it on expenses.

[manxspud]

Well lets be honest-ish its bound to only benefit mp's and bankers in the long run ... i can hear them rounding up the expenses forms already

[Kalipo]

Ha, this is great.. if the UK adopted this and got rid of the 1p.. i would be 4p up everytime i put .01p in my my car .. when i claim it back ..

Oh please do.. there are so many ways one can milk it ..

[Meat-Head]

ON TOPIC:-

So what about 1984 - i think Ghostbusters in the movies and 1/2 p coin withdrawn, stick that in your pipe and smoke it.

[rds60h]

We got screwed when we changed from pounds shillings and pence to decimalisation..........remember when we had 240 pennies to the pound ? and we also had half pennies with this system (although the farthing (quarter of a penny) had been stopped at the end of 1960.
With decimal currency we had a halfpenny coin until 1984 when that was withdrawn, prices that had included a halfpenny didn't go down they went up !
If the penny is withdrawn prices with an odd penny won't go down they will go up, an after that how long before the other coins go and prices rise to account for the missing coins.
Even with each person in Britain having to pay a penny extra on 1 transaction a day that equates to ?233.6 Million a year extra expenditure.

[racin-snake]

Should the UK ditch the one penny coin like Canada?


yes as they should do with the lot
all of the fiat currency borrowed with interest from banks and replace the lot with money supplied by government and controlled by government (of the people)
without the interest added when its borrowed from corrupt and non elected fraudsters the greedy banks who only serve to fleece the people of all they have

this way banks do not have the control or the dividends based on government borrowing from them

a very simple solution

the above post by rds60h is a true insight into the deviance and out and out fraud in banking and the government's support of the fraud !

well said rds60h

[thered]

Should the UK ditch the one penny coin like Canada?


yes as they should do with the lot
all of the fiat currency borrowed with interest from banks and replace the lot with money supplied by government and controlled by government (of the people)
without the interest added when its borrowed from corrupt and non elected fraudsters the greedy banks who only serve to fleece the people of all they have

this way banks do not have the control or the dividends based on government borrowing from them

a very simple solution

the above post by rds60h is a true insight into the deviance and out and out fraud in banking and the government support of the fraud !

well said rds60h

In prinipal sounds great ask a 10 year old about debt they will say why dont they just make more money so everyone has lots


Problem then if you can just make what you want and need its worthless


Isnt quantative easing the same thing, everytime it gets done it devalues the pound

We got screwed when we changed from pounds shillings and pence to decimalisation..........remember when we had 240 pennies to the pound ? and we also had half pennies with this system (although the farthing (quarter of a penny) had been stopped at the end of 1960.
With decimal currency we had a halfpenny coin until 1984 when that was withdrawn, prices that had included a halfpenny didn't go down they went up !
If the penny is withdrawn prices with an odd penny won't go down they will go up, an after that how long before the other coins go and prices rise to account for the missing coins.
Even with each person in Britain having to pay a penny extra on 1 transaction a day that equates to ?233.6 Million a year extra expenditure.

Pretty sure they wont things are 89p or 99p or even 7,999,99 for a reason



Marketing ploy designed to make people think its cheaper

daft as it sounds 90p ?1 or ?8,000 seems much more expensive than using the 99p


Apart from poundshop not many items are ever a straight pound nearly everything is marketed with a 9p at the end. If the 1p does go i would imagine that in general most things will end up 95p or 97p

Things will most likely either go up in value by more than 1p or come down to 97p

99p store will be in a dilemma though

[racin-snake]

In prinipal sounds great ask a 10 year old about debt they will say why dont they just make more money so everyone has lots


Problem then if you can just make what you want and need its worthless


Isnt quantative easing the same thing, everytime it gets done it devalues the pound

nope that's nothing to do with what i wrote !

when the government asks banks for money as they have to at this present time that money is borrowed at interest this it costs the government to borrow and therefore the interest goes to the bank and not filtered back to the people its designed to work for it therefore just works for the bank which then lets us borrow and use at "again" more interest
the money in circulation is at a dept and pays interest from the initial flick of the bankers pen
so therefore whatever borrowed can never be paid back in full without further borrowing simple lie of fiat currency !

nothing like quantitative easing by any stretch of the imagination

daft as it sounds 90p ?1 or ?8,000 seems much more expensive than using the 99p

i would certainly hope that 99p sounds less and in fact is less than the last two figures of you quote of "?1 and ?8000"

[thered]

nope that's nothing to do with what i wrote !

when the government asks banks for money as they have to at this present time that money is borrowed at interest this it costs the government to borrow and therefore the interest goes to the bank and not filtered back to the people its designed to work for it therefore just works for the bank which then lets us borrow and use at "again" more interest
the money in circulation is at a dept and pays interest from the initial flick of the bankers pen
so therefore whatever borrowed can never be paid back in full without further borrowing simple lie of fiat currency !

nothing like quantitative easing by any stretch of the imagination



i would certainly hope that 99p sounds less and in fact is less than the last two figures of you quote of "?1 and ?8000"

you knew what i meant stop being pedantic


If you ditch interest money borrowed is worthless


Simple


I lend daughter money every week no interest


She pays it back and two days later wants to borrow it again

effectively im just giving her the money to keep

No penalty no nothing the money is now worthless


simple analogy but same thing

[racin-snake]

banks should only be able to charge interest to private borrowers that way they can work as initially as they should and how they were designed in the first instance

but not giving the government money based on interest ...when it has ( the government ) the actual and legal option to create its own currency

our the government should not have to go beg to create money with the initial interest attached to the government (paid by us all) paid to the banks for this to happen ....get the drift

our government like this due to the fact they get back handers and pay offs from the criminals in the banks and no come back from the people when the banks **** up due and the banks are not in any way bothered due to the fact they have no electorate to keep happy they are autonomous and therefore no need to worry we have no jurisdiction over them they are not government employees nor do they care

therefore all this system serves to do is basically the up the deepening dept and it will just keep spiraling more dept than money in the system

if you borrow from a bank as a private borrower it should be on a factor of say 2/1 on deposits that way interest paid is fair to both depositor and bank

but why should any sovereign government or country go begging to banks to create money it should create its own money not borrow from a bank with no elected members and just a board of bastards working to keep shareholders and themselves in money derived initially from government dept and hen fraudulently rob the people with interest and all manner of illegal charges and illegal schemes

the government should have the right to mint money based on the country in questions actual growth and and gross income from output and export

and in this way can be checked and crystal clear audits done independently ........to see where and when the money is going transparent for all to see !

at the moment money is borrowed from banks to cover cost AT INTEREST !

so every time the government asks for money they loose something in return banks win due to the fact they create money from nothing in the first place

we pay the interest on the money created from nothing nyada zero ziltch

10/1 deposit to lending shows it does not work its simple arithmetic to see we will always be as a country in dept to a few international bankers who ask for favors and concessions based on borrowing by our government therefore a direct conflict of interest with mp's who will play to the money man for the electoral monetary support offered

if you see who creates the money and whom that in turn serves you will see my point completely

in the US they tried this and assassinations and bribes and extortion is the way the bankers did their work .to remove the senate from having the option of government banks and creation of their own currency ..........and the federal reserve was installed to fleece the country

the federal reserve is based on the UK's own monetary system (slightly larger though) but in basis the same

so have a Google questions about the "green back" dollar you will see the system at work
and whom it serves the purpose of ...by the way its not the people i am afraid !!

big banks rule the day and CEO'S are your new lords and masters the banks have total control in Europe as you have seen in Greece and Ireland
so far implemented IMF ceos to run the country ...............banks tho in fact rule the world !