UK 1p and 2p

Started by Pabitra, August 28, 2024, 07:09:06 AM

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Pabitra


Alan71

The bit I find interesting in this:

"The Royal Mint, the official maker of British coins, has not recycled or melted down surplus coins since it closed its smelting facility more than a decade ago and only accepts damaged coins collected by banks."

At one point it was withdrawing cupro-nickel 5p and 10p coins in order to recover the metal, to replace them with nickel-plated steel coins.  This would suggest that practice has long-since ceased.

I still find it horrifying that people actually throw coins away.  How wasteful is that?  It's easier than ever to spend coppers.  I no longer use cash, but when I did I often used the self-service tills in supermarkets.  I'd put the coins in and then pay the balance by card.

FosseWay

Jeez, can't people write logically these days? First it says:

QuoteNew industry data shows that around 260m surplus of coins have been stored including two thirds of all the 225m 2p coins in the UK as well as 110m of the 200m 1p coins that have been minted.

Now, it's clearly obvious to anyone that the number of pennies minted since 1971 is significantly higher than 200m, but the author clearly knows this themself, since further down they write:

QuoteMore than a billion pennies were minted in 2000.


So I'm far from clear what this 200m figure refers to.

eurocoin

Quote from: Alan71 on August 28, 2024, 02:30:41 PMAt one point it was withdrawing cupro-nickel 5p and 10p coins in order to recover the metal, to replace them with nickel-plated steel coins.  This would suggest that practice has long-since ceased.

They have indeed stopped doing that a long time ago. From what I have read, the project was a failure.

andyg

Quote from: Alan71 on August 28, 2024, 02:30:41 PMIt's easier than ever to spend coppers.  I no longer use cash, but when I did I often used the self-service tills in supermarkets.  I'd put the coins in and then pay the balance by card.

Have you noticed that self scan tills are gradually going contactless payment only?
Cash encourages theft apparently.
always willing to trade modern UK coins for modern coins from elsewhere....

augsburger

Quote from: andyg on August 28, 2024, 07:47:21 PMHave you noticed that self scan tills are gradually going contactless payment only?
Cash encourages theft apparently.

Yes, where I live supermarkets will only be cashless for self service checkouts. So I haven't used one in this country ever. I've used them in the UK. For the most part I stand in line with the old grandmas and women with annoying kids.

Another point is the metro. I have to take two lines to get to work. The first is line 2, one of the original lines built in 2012 before I came to this city. I can use whatever cash I like in the machines to top up my card, however only two machines accept cash out of like 6 or 8 in my local station.

The other line is line 6 which opened at the end of 2020, and I can only use on banknote in the machines and it's not the largest banknote, which is what I'd usually use (worth about £10).

They're forcing people to use their phone, and trying to phase money out. It's technically illegal to refuse cash (you can go to the desk and pay with cash, if there happens to be someone on the desk, of course). Paying for electricity can now only be done by electronic means.

Thing is, where I live, there are more sinister reasons for wanting everyone to be using smart phones and paying with electric money.

krishna

Want to get the feel of transacting in cash again?
Want to literally feel your hard earned money vanishing off your hands??

Come to India, here cash rules, it your dream destination!!!
Approx. 40 to 50% of the economy is run on cold hard Cash

If the acceptability of cash were to be made the metric of measuring the trust in the establishment, then the trust bar in the chart representing the Indian government would be the highest (uncontested)

We love our four lions and Mahatma Gandhi