Question for you economics folks

[Badger]

I was bagging up my change from my old coin tin today (yes, my life is thrilling) and was wondering what would happen if we got rid of the copper coins we have. Don't they just add to the inefficiency of the banking and cash systems in this country? If the lowest denomination was 5p would it be so bad?

I think M&S stopped having £9.99 type prices a long time ago, yeah ok they round up to £10 but isn't that good overall for the economy?

[BrilloPad]

I am concerned about rounding up of prices - might cause inflation.

apart from that - great idea - send it to the bank of england.

personally I save any 1pand 2p - spend them at the tesco self-serve counter.

ohh - you wanted an economic type - not an idiot like me. atw - where are you? presumably he will want to go back to barter or something.....

[Badger]

I just got sick of counting the 1s and 2s.

It may cause a temporary inflation blip but wouldn't that settle down to increased profits meaning larger investements and more employment? Although I am a complete dullard at this stuff.

[BrilloPad]

Increased profits should come from increased productivity.

[AtW]

Increased profits should come from increased productivity.

inflated house prices

[Doggy Styles]

Slippery slope. After we've done away with coppers it will be five pence pieces next. Besides, if we suffer deflation we'll have to think about bringing back the ha'penny.

As my old nan said, look after the pennies and the ponds look after themselves. Ours always looked clean.

[Pickle2]

I was bagging up my change from my old coin tin today

Fook me badger, get with the 21st century. Banks have paying-in machines for loose change nowadays. Just lob in your pot of change and its counted and appears in your account same day.

[BrilloPad]

IMO anything less than £50 should be banned. coins are heavy. And < £50 means it does not fold easily.

LOADS OF MONEY!!! YYEEAAAHHH!!

[Badger]

Fook me badger, get with the 21st century. Banks have paying-in machines for loose change nowadays. Just lob in your pot of change and its counted and appears in your account same day.

Not at the branch where I bank.

[AtW]

Not at the branch where I bank.

But did you try wearing balaklava when visiting it? Works every time for me.

HTH

Pickle2