Belgium has joined countries that will throw out small denominations

The parliament in Belgium adopted a law whereby 1 and 2 cent coins will disappear from the country. These will remain in use, but only virtually.

From December 2019, Belgium will join the entire group of countries that have already withdrawn the use of small coins. Earlier on such a move decided, among others Denmark, Sweden, the Netherlands, the Czech Republic, Russia and Israel.

The smallest denomination will soon be 5 cents. It is to this amount that the seller will have to round all prices. In the case of one or two cents - down, from 3 cents - up.

There is only one caveat. On the internet, the problem of minting cents in the mint does not exist, so in online stores you may still be able to meet prices with a tip of 99 cents. Provided that the customer pays for them by card or by transfer, of course.

The idea to withdraw the smallest denominations was also considered in Poland a few years ago.

No bigger effects. For several years, the NBP has been silent on this matter, although it has previously emphasized that it is completely unprofitable to beat the peas. In 2013 - that is during the debate on the withdrawal of small ones - the production of one penny cost about 5 cents. Since then, this cost has probably dropped slightly, because the NBP is looking for savings. Within them, manganese brass was replaced with steel, which is already coated with brass.

The producer changed for several years. The NBP commissioned this ungrateful role of an external company - the British Royal Mint (their pea can be recognized by a characteristic eagle in the back, which is definitely smaller than in the previous version). A several-year contract cost us a total of 54 million zlotys, apparently half as much as at the time when Mennica Polska was producing pennies.

The latter regained the order in 2017. However, the subject of liquidation of the pennies has not yet returned. It is a pity, because despite the laments of entrepreneurs about the need to change fiscal cash registers and customers who cursed the price rounding, it would all be good for everyone . Because in the end how many times when asked: "Can it be without a penny?" You waved with resignation, leaving the cash register completely? I assume not once. The times of the denomination (one penny was supposed to correspond to one hundred with Ludwik Waryński) had passed so long ago that it was probably time to think about joining the Belgians. The more so that the Poles slowly replace cash with payment cards and smartphones, and in the last quarter of last year for the first time in history the value of non-cash payments was higher than the value of withdrawals from ATMs .



Belgium has joined countries that will throw out small denominations

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