Do we need the 1p anymore?

[Bonny 10]

Is it about time that the 1p coin went the same way as the 1/2p coin - taken out of circulation?

 

What would be the impact on the economy and inflation? Would the Government and/or the Bank of England benefit by not having to produce these worthless coins? It must cost more to produce one than it's worth.

 

What do you do with your 1p coins? If you don't 'use' them (I throw all mine in a container) would it be a good idea to collect them all up and give to a local charity? At least then someone would get some benefit. What do you think?

[DynoDon 10]

Retailers could only charge, say 2.92, 2.94, 2.96, 2.98 What would Asda do for their CDs?

 

Just thought that isn't correct actually.

[happyhippy 11]

I collect all mine to go into my children's bank accounts, along with 2p's and 5p's. It's not a lot a time, but it's a painless addition to their accounts. I never spend any of those coins by accident either.

[Kristian 11]

I reckon it's time prices ended in .95 rather than .99. Actually, I'd rather them be done in full pounds, but that's another thread. I think it's time to say goodbye to copper coins entirely.

 

How can it be cost effective to produce coins with such a low face value? If we got rid of them entirely, think of the cost reduction in terms of coin production, time cashing-up in shops etc.

[Alex C. 10]

It's cost effective because each coin will be used ten's of times. I never use them, but say they should stay... Charities must benefit enormously from them, since a lot of people just throw odd coppers into charity boxes (for instance, in McDonalds) but wouldn't if there was just silver.

[The Miller 10]

I reckon it's time prices ended in .95 rather than .99. Actually, I'd rather them be done in full pounds, but that's another thread. I think it's time to say goodbye to copper coins entirely.

 

How can it be cost effective to produce coins with such a low face value? If we got rid of them entirely, think of the cost reduction in terms of coin production, time cashing-up in shops etc.

 

Are you old enough to remember when we changed to decimal currency? That's when prices in this country started to rocket. The new half penny was then worth 1.2 old pence, so an old penny sweet cost .2 of a penny more. After the 1/2p was removed everything then went up by 1p or 2.4 old pence. Today I bought a first class stamp costing 36p, does anyone really believe the Post Office would put the price down to 35p. If you get rid of the copper coins, that stamp would cost 40p. Don't you think that inflation is bad enough without ordinary people adding to it with suggestions like these?

[Allen 38]

I agree with The Miller.

On the eve of changing to decimal currency I had 240 pennies to every pound. I woke up to find I only had 100!

 

As mi grandad told me when I was a child....."Look after the pennies and the pounds will look after themselves".

 

I suppose you'll be suggesting we change to Euro's next!

[happyhippy 11]

Is it about time that the 1p coin went the same way as the 1/2p coin - taken out of circulation?

 

What would be the impact on the economy and inflation? Would the Government and/or the Bank of England benefit by not having to produce these worthless coins? It must cost more to produce one than it's worth.

 

What do you do with your 1p coins? If you don't 'use' them (I throw all mine in a container) would it be a good idea to collect them all up and give to a local charity? At least then someone would get some benefit. What do you think?

 

As you find a use, there's no need to get rid

[The Rat 10]

As you find a use, there's no need to get rid

 

We found a use for high rise council flats.... doesn't mean we're not right to get rid of them now.

[Commander 10]

I always put some money in a charity collection pot everytime i pass one so if you don't like those pennies then plz give them to a good cause.

[growler 10]

Why don't they just swap the 1p coin for a 99p coin instead.

[Heyesey 11]

Why don't they just swap the 1p coin for a 99p coin instead.

 

A 99p coin would be worse than useless; it would mean retailers having to set prices at something.98 to force cashiers to open the till for change.