Treasury orders no new coins for first time as future of 1p and 2p in doubt

https://www.standard.co.uk/business/treasury-orders-no-new-coins-to-be-minted-for-first-time-as-future-of-1p-and-2p-in-doubt-b1172618.html

by tylerthe-theatre

24 comments

  1. The argument to keep 2p and 1p was always that charities benefit from them but I think these days since most people use card payments the effects would not be all that much relatively. (happy for someone to prove me wrong with recent data).

    The amount 1p has been devalued over the years it does seem pretty pointless to keep the coins in circulation.

  2. This has me trying to recall the last time I had a 1p it 2p and I honestly can’t recall. I think it might legitimately have been years since I had one.

  3. Not sure why we’re keeping them. Long gone are the days when you could get a Black Jack, Fruit Salad or white chocolate mouse.

    The only thing 2p will get you down the local shop these days is a blank stare.

  4. How would getting rid be 1p and 2p coins work when buying things with cash?

    If your shopping came to a price ending in a .9 or .8 how would they give you the right change?

  5. At this rate get rid of £1 and £2 coins.

    Fivers will be the new pennies.

  6. Well the royal mint are stopping making coins and are switching over to recycling PCBs for their precious metals. 2035 is what was being banded around.

  7. If there are no 1p and 2p – coinage would start at 5p.
    Wonder if that means all prices would have to be multiples of 5p then? So petrol prices would rise/ fall by multiples of 5p?

  8. When I spend cash usually in the local market I never accept 5s 2s and ones in the change. I tell them to pop them in the charity box which most have on the counter.

  9. Guess it means all prices will get rounded up but who’s worried about the penny on a £3.99 purchase anyway, might be nice just to see £4.

  10. One can only hope that their future is in doubt.

    I think it should have been decided several years ago because of the need for adequate notice. If they are announcing it this year I don’t think they ought to withdraw them until at least 2028.

    Back in 2017 when it was first seriously considered it they should have announced it with timelines of:

    1p 2023
    2p 2030

  11. An attack on cash, unless prices are going to be set to round numbers along with this odd trend. Though I’d imagine the article is sensationalism

  12. So instead of 99p I will pay a quid, someone’s gaining and it ain’t me

  13. Digital pound is the future, let’s stop destroying our precious natural resources.

  14. Good, pennies were useless 20 years ago, that uselessness has only compounded.

    Their value is just too small. And in 2024-land, the amount value a 1 or 2p coin offers you is simply infinitesimally small. They are not useful. Roll up to the 5p being the lowest denomination. And then 10, and then 20. Then rethink how to structure our currency, ala redenomination.

    We don’t have half pennies, and tuppences for a reason. We don’t need 1p’s and 2p’s for the same reason.

  15. Gonna be a pain in the ass to pay for anything that ends has a 99p on it with cash.

  16. Useless coins. Here in Denmark the smallest coin is the 50 øre, worth about 6 pence, and even they feel too small to bother with. English coppers are quite simply a pain in the arse.

  17. Keep the 1p, so any precise amount can be made with cash, but don’t make new ones at a high rate.
    Discard the 2p, 20p and £2. Invent a 25p.

  18. There is a huge surplus of 1p and 2p coins within the cash industry, with vast volumes in long term storage due to lack of demand from businesses and the general public.

    This is the reason no new coins need to be minted – as there is already more than enough in ‘circulation’ – and is not necessarily due to any withdrawal of bronze coins.

  20. The ½p coin was scrapped when it was worth about 2p in today’s money, and was considered practically worthless even at decimalisation when it was worth around 8p.

    We could probably scrap anything up to 10p with no change to our lives whatsoever.

  21. Can we get rid of the 5p as well please? I’m tired of the self serve checkouts in every store giving you most of your change in low denomination coins.

  22. I can remember a time when i had 50p on Saturdays and could buy enough sweets to last days.

  23. I have not used copper coins for the last decade. Get rid of them.

  24. Get rid of everything below 10p and do rounding.

    There, sorted it for you.

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