Should bronze money be scrapped?

[angel102]

So am guessing this would mean things like petrol would go up 5p per ltr each time (IE £1.35 to £1.40)
The same with gas and electric etc

If so then this idea could ending up costing us a small fortune

not necessarily, the Canadian system looks sensible

https://www.mint.ca/store/mint/about-the-mint/rounding-6900008#.W3_zqbgnYuU

plus, even with other systems you would still at most only end up paying a couple pence extra, unless you only buy 1L at a time?

Read threads before posting in them, then you will find out if what you intend to add has already been posted and refuted.

evidently it needed to be posted twice since you seem to ignore the reality for most people.

 

[chaparral]

not necessarily, the Canadian system looks sensible

https://www.mint.ca/store/mint/about-the-mint/rounding-6900008#.W3_zqbgnYuU

Yes that looks a good idea...

 

[marc2003]

So how would pay for one litre of fuel if it was £1.37 and there was no 1p or 2p coins ?

Must admit, I didn't really consider buying 1 litre with cash. Anyway, don't most garages show prices to the nearest 10th of a penny? You don't have coinage for that.

In reality all prices would be rounded up if we didn't have the coins for it. We'd just have to bend over and take it.

 

[Sankari]

Get rid of them!

Here in Australia, we scrapped our copper coins 26 years ago.

 

[Sheff]

Does your local bus company not have an app that can be used to purchase tickets with? I believe most of the big players in this industry have that functionality available.

Not for discounted tickets or singles between zones, these can only be purchased on the bus. It's a very specific situation but one that isn't catered for by existing apps etc.

 

[Semple]

Me, I have bypassed cards altogether. For me it is Cash, Cheque (I still get a lot of those) or "Faster Payments"

Why though? What benefit do you actually have of using a physical currency over electronic?

I can tell you exactly why i prefer electronic over physical, so those who seem pretty against moving away from physical currency should be able to say why.

Not for discounted tickets or singles between zones, these can only be purchased on the bus. It's a very specific situation but one that isn't catered for by existing apps etc.

I'd suspect that's only a matter of time though, these systems are fairly new, so they'll have focused on prime use cases which the typical user will be.

 

[Jumper118]

We should get rid of all state controlled currency and replace it with decentralised currency like crypto.

 

[Randomface74]

So how would pay for one litre of fuel if it was £1.37 and there was no 1p or 2p coins ?

You probably can't buy just one litre, there are often minimum puchase amounts. But if you did, you could either pay £1.37 by card, or £1.35 or £1.40 by cash.

In reality, someone is going to be filling up a car. So around 30 litres.

30 x £1.37 = £41.10
haha a round number

31 x £1.37 = £42.47
so you'd pay either £42.47 by card, or £42.45 or £42.50 by cash.

 

[Sinny]

Why? It's very uncommon to come across places that don't accept card payments, and most big businesses don't even have a minimum limit either.

Small businesses only use it because their customers still use it. So no, there's nothing delusional about seeing a future without physical currency, you just need to get with the times.

I used cash today to do a sandwich run, I went and collected money from multiple people. Doug this digitally would be an absolute farce.

I use cash for Taxis, going out for drinks where I don't want to overspend by having my card, in work as stated and that's just the situations over the past week I've used hard currency.

Total digital currency won't work.

 

[taB]

Pertinent: https://www.quins.co.uk/news/important-changes-to-matchdays-at-the-stoop/

The Stoop is going cashless.

 

[Semple]

I used cash today to do a sandwich run, I went and collected money from multiple people. Doug this digitally would be an absolute farce.

I guess this is a bit of a niche area that no-ones cashed in on yet, but there are apps for splitting bills etc, and there's always the pay contact by phone route, so not completely impossible/nor requires too much faff.

I use cash for Taxis,

Other companies are following Uber in moving to cashless taxis.
- It's easier for the customer (not having to find a cashpoint before calling a taxi, or having to worry about having the correct change/enough cash).
- It's quicker - you don't have to count out your fare, or wait for the driver to count back out your change
- It's safer - taxi drivers i've spoken to have said they much prefer not having to carry cash around with them

going out for drinks where I don't want to overspend by having my card

That's more of a self-control point. Although what's really stopping you from just grabbing more cash from a cashpoint to spend on more drinks

 

[StriderX]

Look at the silly technophobes and their hatred of nothingness, it's beautiful.

 

[Sinny]

I guess this is a bit of a niche area that no-ones cashed in on yet, but there are apps for splitting bills etc, and there's always the pay contact by phone route, so not completely impossible/nor requires too much faff

Not everyone has a smartphone, what about people on the breadline that don't have mobile payment devices?

I can see there are many benefits but the risk of removing a hard currency could reap more problems than anticipated. I can agree on removing the lower end of currency but to totally remove it would be ludicrous.

 

[angel102]

Not everyone has a smartphone, what about people on the breadline that don't have mobile payment devices?

I can see there are many benefits but the risk of removing a hard currency could reap more problems than anticipated. I can agree on removing the lower end of currency but to totally remove it would be ludicrous.

no one has talked about removing all money at all, just the coppers, which are bordering on useless.

 

[StriderX]

Not everyone has a smartphone, what about people on the breadline that don't have mobile payment devices?

I can see there are many benefits but the risk of removing a hard currency could reap more problems than anticipated. I can agree on removing the lower end of currency but to totally remove it would be ludicrous.

I thought in Modern Britain we hated breadliners and poor people now?

Did it suddenly change?

 

[FoxEye]

We should get rid of all state controlled currency and replace it with decentralised currency like crypto.

Being able to pay for things quickly and easily is so last century Let's move to a "currency" that is virtually useless as a payment mechanism, and has massive fluxes in value over the course of a couple hours

 

[Jumper118]

Being able to pay for things quickly and easily is so last century Let's move to a "currency" that is virtually useless as a payment mechanism, and has massive fluxes in value over the course of a couple hours

explain why a standard payment is faster, more useful and doesn't flux in price as much.

 

[LeeUK]

Vending machine at work takes bronze coins, I've been known on plenty of occasions to fill it up with 1p coins to get a sandwich out.

 

[Jean-F]

Vending machine at work takes bronze coins, I've been known on plenty of occasions to fill it up with 1p coins to get a sandwich out.

Your choice I guess, have you also been voted, “Most popular colleague” at work?

 

[LeeUK]

Your choice I guess, have you also been voted, “Most popular colleague” at work?

I save the coins up until I got about 60p worth (price of subsidised sandwich) and just take them in and use them on my break. When I hear of folk who just chuck them away, it's like getting a free sandwich isn't it.

And for “Most popular colleague” ? Who cares. The chocolate and crisps are priced at 47p and 26p respectively so I would assume they need coinage for change.