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Slovakia may also do away with 1 & 2 Eurocent coins

Started by Pabitra, September 22, 2021, 06:05:28 PM

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Wait and see. For the moment, it's just a proposal from the government. The banking & finance lobby will be in favour, the retail trade lobby against. No way to know how the game will end until it's over.

IF the proposal is accepted, there will be marginal increase in the pressure on the EU powers that be to do away with the 1 and 5 cent in all members states. Not only will that not be a priority issue, also, it requires thinking about a 5 euro circulation coin, because coins are member-state affairs and they'll want a profitable compensation for their mints. It is pretty safe to think that nothing will change.

Also, packaged coin series will very likely not change. Slovakia will just find them selling better as those collectors who don't care if a coin is used as money or not will "need" them to feel "complete", because the 1 and 5 cent can only be obtained in a packaged set.

All in all, the event would amount to a really very minor movement towards an inevitable development.

An unidentified coin is a piece of metal. An identified coin is a piece of history.