ChatterBank1 min ago
Ban the penny.
Australia and New Zealand have abolished the 1 cent and 2 cent coins. There is a argument for us to follow.
- When the 1 New Penny was introduced in 1971 it was worth something. Now, due to inflation it is worth a fraction of what it was.
- It costs more than 1p to mint it.
- Rounding is more truthful. £2 instead of £1.99.
- The weight and pocket wearage are unnecessary.
- When the 1 New Penny was introduced in 1971 it was worth something. Now, due to inflation it is worth a fraction of what it was.
- It costs more than 1p to mint it.
- Rounding is more truthful. £2 instead of £1.99.
- The weight and pocket wearage are unnecessary.
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There is a reason for the 99p (or 19s 11d as in the old days) and it is still relevant where cash is used. The purpose is to ensure the transaction goes through the till rather than being pocketed by the cashier, which could happen if say something was £5.00 and you just handed over £5.00 and walked away.
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