Should cent coins also be abolished in Germany?

  • Erstellt am 2025-03-16 18:21:43

nordanney

2025-03-17 16:36:28
  • #1
In the states where the small coins were abolished, it was at least statistically irrelevant.
 

wiltshire

2025-03-20 09:11:01
  • #2
The elimination of coins does not mean that all prices are in 5-cent increments. In the Netherlands, the total amount at checkout is rounded up or down. Prices like "3.99" and the like still exist. I find this regulation pragmatic, easy to implement, and sensible. In my view, the resource expenditure for small coins is disproportionately high compared to the benefit. I am also a supporter of cash. And I highly value governmental order when the sovereign is the people. Of course, the prerequisite is that citizens participate. When citizens behave like customers, it quickly ends for many.
 

Musketier

2025-03-20 09:27:51
  • #3
Sweden and Norway are reportedly easing back a bit again. Due to cyberattacks (as part of hybrid warfare), they are once again advising the stockpiling and use of cash in order not to be completely dependent on digital payments. But we are still miles away from that status in DTL.
 

wiltshire

2025-03-20 10:07:43
  • #4
But probably not by minting more small denominations on coins again, right? Sometimes I pay cash, sometimes by card, sometimes with a fully electronic service provider – it's good that there is a choice.
 

Vrumfondel

2025-03-20 10:37:49
  • #5
Ultimately, it is a question of timing when it appears opportune, also in terms of monetary value.

Analogy: In 2002, the Pfennig effectively disappeared; from then on, there were only 2-Pfennig coins (rounded), which were then called 1 cent. As far as I remember, this did not cause any significant restrictions or price increases in everyday life.
Before 2002, there were still 1 Groschen coins in Austria, which were worth significantly less than 1 Pfennig. Their practical use was also questionable.
At some point, due to inflation, the threshold is reached where the smallest coin with a denomination of "1" no longer has any practical use. Then it can be pragmatically removed from circulation without it being a "gateway to a world completely without cash." Whether that is today, in 10 or 20 years: see my first sentence.

Personally, for me, it could very well be today already.
 

Musketier

2025-03-20 10:54:39
  • #6

Of course not. In Sweden, almost exclusively digital payments were common.

I recently read, according to a non-representative study/survey in Europe, which apparently consisted mostly of Germans, that 70% are in favor of abolishing small coins. If apparently a large majority supports it, the central bank also supports it, and companies are spared counting effort, why not abolish them as quickly as possible when cost/benefit no longer applies.

Some time ago, I also noticed in my collection of leftover foreign currencies that I have some small coins that have since been abolished. I suspect they were Heller as subunits of the Czech crown.
The USA is also considering abolishing the penny.
 
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