Should bronze money be scrapped?

Pawnless Endgame

Pawnless Endgame

Pawnless Endgame

Soldato
Joined
10 May 2004
Posts
13,057
Location
Sunny Stafford
We got rid of the h'penny (0.5p) over 30 years ago and I've been thinking for years that 1p and 2p coins should be scrapped as well.

https://www.bbc.co.uk/news/business-45269390

The remaining single-digit coin (5p) should become bronze.
2-digit coins (10p, 20p, 50p) should remain silver.
3-digit coins (£1, £2 but also a new £5 coin) should be gold.
Then the notes should be £10 and £20, with £50 becoming more common. So no change to the notes, except for £5 becoming a coin and £50 notes becoming more common.

I think it's pointless having 99p stores as the till registers require a float of 1p coins to give out as change. Pound (£1) stores don't have that problem.

The stock market would have course still trade in pennies and fractions of a penny e.g. shares priced at 431.1p.

What do you guys think?
 
They would make everything 95 instead.
If they were forced to round to the pound I would agree, but they won’t, so it won’t help.
Making notes more common is another form of inflataion and devaluation.
Poor for consumers and workers.
 
And no need for more £50 notes either. Physical currencies are phasing out anyway, it's only the older generation who mostly use physical currency, so ~20 years from now and I'd imagine it will mostly have phased out.
 
I'm using cash less and less, it's annoying if somewhere isn't contactless. I had to pay £5.20 for parking today in coins, I wasn't happy.
 
darkgen said:
This. Unless you're after dee's, who uses cash these days?
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Me. I find it's far easier to avoid over-spending when you can see the money physically leaving your hand. And it's far easier to budget when you withdraw a set amount each week and live on that.

As for 1p and 2p coins, they totally need to go away. Those things just accumulate and weigh down my pockets. Even if everything ends up 1p more expensive as a result, it's worth it.
 
I was watching something about this recently, the report stated that 6 out of 10 transactions are paid for by contactless payment the other 4 are split evenly by mobile and cash payments. By 2020 it's expected that less than 1% of transactions are cash ...
 
Malevolence said:
I don't thnk you've thought that through, if coins were removed how would shopkeeps give you change when you hand them a note?
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theyd be forced to not charge 50p for card transactions under a tenner :p

I very rarely use cash, the only change to speak of is in a pouch in the car for parking machines but of the ones I've used recently they all accept card too.

I'm now using cash less and less and when I do have notes I try to spend them so I get as many £1 coins as possible.
All the coins go into my coins jar, anythign less gets dumped in the parking meter pouch
 
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