It has been a subject of great debate but what do you think.
Should countries get rid of bronze low value coins?
Many polls have been taken in the past yet what does Numista think.
As we are a coin site we may be bias but lets see,
3..2..1.. GO!!!!!!!!!!!!!!!!!!!!!!
Till the 25/02/18
'We make a living by what we get, we make a life by what we give.'
Sir Winston Churchill
Since rounding up or down evens things out almost perfectly, removing low value coins, makes the most sense from a rational point of view:
striking low value coins is costly (metals, machinery, labour);
less coins being sent around reduces the costs of security as well;
a more efficient mint is important to guarantee coinage will remain relevant in the future;
since inflation is part and parcel of our national economies, the cent or centavo or penny, or whatever other small unit, is worth much less than it used to be; it is therefore logical to cancel small denominations and, at the same time, replace lower denomination bank notes with coins.
Sadly, there is no room for sentimentality on such issues. It must all be rational.
So, get rid of the low value coins. Canada was right to terminate the "penny" in 2012 and will be right when, within about five years, they'll terminate the nickel.
I'm generally in favour of terminating them! Small 1, 2, 5 Euro Cent coins serve literally no purpose other than giving me a small dopamine boost when I pick one up on the pavement or something like that; given their purchasing power and the recent slide towards more efficient digitised currency, I would advocate for stopping business strikes of those coins (as some Eurozone countries have already done e.g. Netherlands and Finland) but continue including them in proof sets etc. for Euro collectors.
Nah. While it makes sense in the wider view, from a numismatic standpoint I'd be dead agin' it.
I reckon just about every coin collector in the US first got his feet wet by filling a Whitman folder with Lincoln cents directly from circulation. From there they begin to learn about mint marks, then varieties, and before you know it they're hooked. Even the poorest child can get a 2nd hand folder for 25c at the local fleamarket and find enough change down the back of mommy's couch/day bed to start collection.
We already share a declining hobby, no point in aggravating the decline by removing coins from daily life.
Non illegitimis carborundum est. Excellent advice for all coins.
Make Numismatics Great Again!
I think they will get rid of all low value coins. In Finland we cannot use 1 or 2 cent coins. 5, 10 and 20 cent coins are extremely annoying, and I know they will demonetize them in the 2020s if we still use euro then. 5 euro coins, on the other hand are becoming more and more usual...What I fear is that as the Finnish stamps are almost all commemoratives, so will be the coins. Hopefully not, but that is possible.
Yes, scrap the bronze. At least 1 and 2 cents are useless in most currencies, even the poorest people won't need them. These are like NCLT commemoratives, there's collectors but no one use them.
5 euro circulation coin would be ok without the current trend of digitalization which will make coins and banknotes niche quite soon.
Citeer: "Cerulean"Copper-plated steel counts as steel to me, not copper.
I agree with you. I like to collect copper or bronze coins (and any traditional coin metal), but those cheap copper-plated steel coins are not my cup of tea.
Citeer: "SquareRootLolly"This reminds me of a CGP Grey video.
https://youtu.be/y5UT04p5f7U
For numismatic sake, I prefer to keep it, for economical sake, I prefer to scrap it.
Neutral, as all my other decisions. Like Switzerland, neutral.
I was trying to remember where I got the 'Netherlands and Finland scrapped the 1 Euro cent already' fact from, turns out it was that same video!
Citeer: "SquareRootLolly"This reminds me of a CGP Grey video.
https://youtu.be/y5UT04p5f7U
For numismatic sake, I prefer to keep it, for economical sake, I prefer to scrap it.
Neutral, as all my other decisions. Like Switzerland, neutral.
I was trying to remember where I got the 'Netherlands and Finland scrapped the 1 Euro cent already' fact from, turns out it was that same video!
That's a great video, ²Lolly. Exactly what I think – economic decisions have to be rational. And note this statement at about 3:19 "... when the half cent met its fate, it had more buying power than today's dime". This means that the smallest denomination in the US after 1857, the cent, had a purchasing power similar to that of the quarter today – yes, the quarter!!
What the video doesn't say is that the zinc lobby ... lobbies politicians who are already corrupt to keep the penny alive.
Citeer: "SquareRootLolly"This reminds me of a CGP Grey video.
https://youtu.be/y5UT04p5f7U
For numismatic sake, I prefer to keep it, for economical sake, I prefer to scrap it.
Neutral, as all my other decisions. Like Switzerland, neutral.
I was trying to remember where I got the 'Netherlands and Finland scrapped the 1 Euro cent already' fact from, turns out it was that same video!
That's a great video, ²Lolly. Exactly what I think – economic decisions have to be rational. And note this statement at about 3:19 "... when the half cent met its fate, it had more buying power than today's dime". This means that the smallest denomination in the US after 1857, the cent, had a purchasing power similar to that of the quarter today – yes, the quarter!!
What the video doesn't say is that the zinc lobby ... lobbies politicians who are already corrupt to keep the penny alive.
√Lolly, actually. Name etymology is from square root [of] polynomial in the summer with an ice lolly.
Anyways, with the mass production of the cents, I believe they are not that rare anymore. The true history lies in the pre-World War era cents.
So with a 0.1% incline towards my appraise to CGP Grey’s videos, if I had to pick out of neutrality, I will choose to scrap the cent
Citeer: "SquareRootLolly"This reminds me of a CGP Grey video.
https://youtu.be/y5UT04p5f7U
For numismatic sake, I prefer to keep it, for economical sake, I prefer to scrap it.
Neutral, as all my other decisions. Like Switzerland, neutral.
Great video!
'We make a living by what we get, we make a life by what we give.'
Sir Winston Churchill
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