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Discorde
16th Jan 2018, 09:46
Given that the purchasing power of the 2p coin is now approximately equal to that of the farthing*, which was withdrawn from circulation in 1960, is now not a good time to consign it and the almost worthless 1p coin to oblivion, if only to save wear and tear on purses and pockets?

*in the UK pre-decimal currency the pound sterling was divided into 20 shillings, each of which was further divided into 12 pennies. The farthing was worth one quarter ('fourthing') of a penny, i.e. 1/960th of a pound.

jolihokistix
16th Jan 2018, 09:56
The farthing was a beautiful little copper coin which never wore a hole in anyone's pocket.


It's potatoes vs rice, innit.


The one yen coin here is made of aluminium and still going strong, worth about 0.65p. For real power go for the brass 5 yen coin with a hole in the middle, worth all of 3.3p. Both useful for paying the 8% consumption tax. Like snowflakes, they all add up.

Tankertrashnav
16th Jan 2018, 10:14
The lowest denomination British coin was the quarter farthing, which was minted between 1839 and 1853 for use in Ceylon (Sri Lanka) although it was legal tender in the UK. There were also third farthings for use in Malta, and half farthings which circulated at home up to the late 1850s.

The first copper pennies were produced in 1797 and were known as "cartwheel" pennies because of their size. There was also a twopence coin, and these coins contained one or two ounces of copper respectively and were therefore often used as weights. Copper coins do not stand up well to circulation as the metal is really too soft, so in 1860 the new smaller bronze penny was introduced, the design remaining the same other than the monarch's head until 1967, the last year of production before decimalisation.

In 1998 the metal in so called "copper" coins changed from bronze to copper plated steel, as the cost of producing them in bronze was exceeding the face value of the coins.

As the need for cash steadily diminishes I can see the annual mintage figures for coins declining, and I'm sure it wont be long before the 1 penny coin is withdrawn. Personally at the end of each day I chuck any 1p, 2p and 5p coins I have in a tin, and when I have enough I change them at a bank and give the money to a local charity.

FullOppositeRudder
16th Jan 2018, 10:18
Given that the purchasing power of the 2p coin is now approximately equal to that of the farthing*, which was withdrawn from circulation in 1960, is now not a good time to consign it and the almost worthless 1p coin to oblivion, if only to save wear and tear on purses and pockets?An excellent idea. The southern colonies have got rid of the 1c and 2c coins here in Australia, and I think our Kiwi friends further east may have gone even further and got rid of their 5c coins as well. Australia is reported to be thinking about dumping the 5c coin - reportedly it costs 7c to manufacture.

Rounding up or down is used in cash transactions, and of course for credit card payments it doesn't matter.

Strongly recommended.

FOR

gemma10
16th Jan 2018, 10:20
Blame the supermarkets and retail in general for the glut of 1p coins in circulation. Just about every price in the supermarkets ends in .99.

CargoMatatu
16th Jan 2018, 10:21
Never mind. After Brexit you'll be able to resume transactions in Pounds, shillings and Pennies - including the farthing! :-D

blue up
16th Jan 2018, 10:26
Boil your copper coins in a mix of water and Caustic Soda with a handful of zinc plated nails in. Once they've boiled for about 5 minutes they suddenly change into 10 pence silver coins. Home electroplating. Less risky than Bitcoin.

If you then heat them slowly on the Rayburn they turn gold. ideal for burying in the sand on the beach for the kids to find.

seafire6b
16th Jan 2018, 10:26
Of course, abolishing the 1p & 2p coins would then mean that the price of EVERY item purchased would then evolve upwards to the nearest 5p. That's not so clever is it?

goudie
16th Jan 2018, 10:28
In keeping with Royalty I seldom if ever carry cash, seems antiquated compared to debit cards and credit cards

jolihokistix
16th Jan 2018, 10:47
In Japan cash is still king, and I am afraid I have been influenced.

jimjim1
16th Jan 2018, 11:01
If we were to do it we should get rid of the 5p at the same time.

It of course can't be done since the fakenewsocracy (daily mail etc) would delight in forcing our dear gubmint to back down.

"Just think of the pensioners, ... and the children, ... and the animals, ..."

It's moot anyway I guess. Cash will be largely gone soon enough.


https://inews.co.uk/inews-lifestyle/money/why-the-cashless-economy-is-a-no-brainer/
Cashless economy: The cafes where cash is off the menu


Sweden’s cashless economy

Sweden is leading the way for the cashless economy. In the technology-savvy country, banks (yes, banks) now rarely accept cash. In 2015, cash transactions made up just 2 per cent of all transactions in Sweden and, according to the IMF, this may drop to as little as 0.5 per cent by 2020. Sweden’s issuing bank, the Riksbank, has stated that all coins except the 10-krona will become invalid by the end of 2017. Sweden is the early-adopter, if you like, and where cool Scandi style leads, Britain soon follows.

[10 Krona is about £0.90]


https://www.newyorker.com/magazine/2016/10/10/imagining-a-cashless-world

ATNotts
16th Jan 2018, 11:15
Of course, abolishing the 1p & 2p coins would then mean that the price of EVERY item purchased would then evolve upwards to the nearest 5p. That's not so clever is it?

Your "half price" sofa from DFS might go down in price, from £499.99 to £499.95. Every cloud might have a silver lining!! Fat chance!!

ExXB
16th Jan 2018, 11:25
Of course, abolishing the 1p & 2p coins would then mean that the price of EVERY item purchased would then evolve upwards to the nearest 5p. That's not so clever is it?

You think? More likely it would be rounded down to next 0.05, as 19.95 is seen as being a lot less than 20.00

Canada has gotten rid of their penny, but not pricing to the penny. If your total bill comes to 19.91 it’s rounded down. 19.93 is rounded up. Pay by credit/debit card you pay 19.91.

Lowest Swiss coin is .05 about £0.035. Largest is 5 francs or £3.50.

seafire6b
16th Jan 2018, 11:50
ExXB - you obviously have a great deal more faith in the greedy UK consumables manufacturers and retailers than I do! Alas, when it comes to comparing the UK market against other nations, then the UK has a long list of ''previous convictions''.

For instance, just compare our rail fares or new car prices. Or look at how long it takes (if ever!) for wholesale energy price reductions to even get near being reflected in the retail market. The cost of pre-packed food items remaining static, BUT while the content weight is radically reduced! I could go on ...

netstruggler
16th Jan 2018, 12:36
ExXB - you obviously have a great deal more faith in the greedy UK consumables manufacturers and retailers than I do! Alas, when it comes to comparing the UK market against other nations, then the UK has a long list of ''previous convictions''.

For instance, just compare our rail fares or new car prices. Or look at how long it takes (if ever!) for wholesale energy price reductions to even get near being reflected in the retail market. The cost of pre-packed food items remaining static, BUT while the content weight is radically reduced! I could go on ...

I'll take you up on rail fares:

If pre-booked 1 month ahead, 12:00 train
London to Sheffield
£12.50 on the 12:03, £15 on 11:55, £19 on 12:55 & several later trains.

Paris to Dijon
€27 (£25) on the 08:53, €42 on the 15:38, €49 on the 15:58, and €36 on the 16:53.

Rome to Florence
€29 (£25) on all departures around lunchtime

Nuremburg to Kassel
€35 (£29) on all departures around lunchtime


If travelling tomorrow...

London to Sheffield
£22 on the 11:55, 12:25; £41 on the 12:55.

Paris to Dijon
€84 (£70) on the 11:58 & 14:53 high-speed TGVs, but €42.80 on a slow TER train.

Rome to Florence
€43 (£36) on all departures

Nuremburg to Kassel
€73 (£61) on all departures

.
.
.


Conclusion..

So the next time someone says (or you read) "Britain has the highest rail fares in Europe", you'll know this is only 15% of the story. The other 85% is that we have similar or even cheaper fares, too. The big picture is that Britain has the most commercially aggressive fares in Europe, with the highest fares designed to get maximum revenue from business travel, and some of the lowest fares designed to get more revenue by filling more seats. This is exactly what airlines have known, and been doing, for decades. But don't take my word for it, see for yourself, check some UK train fares at National Rail Enquiries - Official source for UK train times and timetables (http://www.nationalrail.co.uk)...


All the above taken from https://www.seat61.com/uk-europe-train-fares-comparison.html. (https://www.seat61.com/uk-europe-train-fares-comparison.html)
I don't know when that was written but I'm guessing last year. I just checked and London Sheffield was £14:50 so it's gone up a bit.

I've been travelling round the UK a bit recently with my son who competes in national competitions. It's astonishing how cheap some of the fares are.

meadowrun
16th Jan 2018, 14:15
would then evolve upwards to the nearest 5p


We got rid of pennies.
Bill ends in $0.01 - 0.02 (.06-.07) - rounded down
Bill ends in $0.03 - 0.04 (.08 -.09) - rounded up.

UniFoxOs
16th Jan 2018, 16:22
Of course, abolishing the 1p & 2p coins would then mean that the price of EVERY item purchased would then evolve upwards to the nearest 5p. That's not so clever is it?

Not necessarily. We have never had a 0.1p coin, but every litre of petrol I buy is priced in them.

But if the coins are withdrawn I shall have to buy washers, though I might save a bit on drill bits!

Loose rivets
16th Jan 2018, 16:28
The, leave a penny, give a penny bowl doesn't seem to have caught on here. It was so handy in the US. I'm bewildered by the shop assistant that stares at you while you pull out a 20 quid note just because you're a tuppence short. I should keep 50's hidden away just for that purpose. Mind you, last one I saw produced in the local Coop ended up with a flotilla of staff converging on the till and brining a light device to analyse the note.

Blimey! I thought perhaps a hundred quid note might be fun for a joke, but was unaware of Giants and Titans. It'd be a bit sad to lose one of those on the way to the shops.


Britain's £1m and £100m banknotes - BBC News (http://www.bbc.co.uk/news/magazine-21145103)

Pontius Navigator
16th Jan 2018, 16:30
TTN, you remind me, one of the Maltese stamps in my collection had been 1/4d and that was QEII to IIRC.

finncapt
16th Jan 2018, 19:01
Re rail fares.

Myself, and three others, went to the UK last Thursday.

We stayed in Reading and went to London, and back, by train on Friday.

The fare, including one day travel card (zones 1-6), was £16.45 each.

I thought that was very good value for money.

It would have cost somewhat more for the same in Helsinki.

No, public transport is not expensive in the UK despite what the "whingeurs" may say!!

Don't get me started on the "so called" wonderful Finnish education system.

Gertrude the Wombat
16th Jan 2018, 19:15
No, public transport is not expensive in the UK despite what the "whingeurs" may say!!
Sometimes it is, sometimes it isn't - it's a bit random.

There is a subculture of railway nerds who know exactly how to fight the impenetrable web sites in order to get the lowest legal fares, sometimes involving buying several tickets, none of which names the station you're actually going to, and if I'm doing an unusual (for me) journey I sometimes consult them.

I would imagine that for your £16.54 you didn't get to travel on a commuter train early in the morning - but that's fine, no sane tourist would want to[#], so everybody's happy.

[#] IMHO no same commuter would either, but that's a separate debate.

bbrio1
16th Jan 2018, 20:43
We got rid of pennies.
Bill ends in $0.01 - 0.02 (.06-.07) - rounded down
Bill ends in $0.03 - 0.04 (.08 -.09) - rounded up.
Rid of them in Brazil. And as Meadowrun said, it is rounded, 1 and 2 go to zero, 3 and 4 go to 5.

empacher48
16th Jan 2018, 20:52
As someone earlier pointed out, here in NZ we got rid of the 5c coin in 2006.

The vast majority of transactions in NZ are done by either credit, debit or EFTPOS card so rounding is only a problem when you pay in cash.

The last time I had cash in my wallet was so long ago that I can't actually remember. If you pay by cash, then anything less than 5c is rounded down, 5c and above is rounded up.

meadowrun
16th Jan 2018, 20:55
Got to remember it's not the individual item price that matters, it's the total bill. Someone calculated that it benefits a typical small shop owner by about $160.00 a year.
And just how much pennies in a pocket or handbag weigh.

RedhillPhil
16th Jan 2018, 21:30
Of course, abolishing the 1p & 2p coins would then mean that the price of EVERY item purchased would then evolve upwards to the nearest 5p. That's not so clever is it?


Story I heard - going back to pre-decimalisation days - was that things were priced as £3 19/11 or 19/11 was to ensure that the till was opened for the change thus preventing a light fingered sales operator from simply taking the cash and not ringing it up.

Gertrude the Wombat
16th Jan 2018, 21:58
Story I heard - going back to pre-decimalisation days - was that things were priced as £3 19/11 or 19/11 was to ensure that the till was opened for the change thus preventing a light fingered sales operator from simply taking the cash and not ringing it up.
Yeah, I heard that too.

meadowrun
16th Jan 2018, 22:10
During three decades of airline stuff, every few years there would be a company campaign for suggestions to cut aircraft weights. Every single gram counts.


I should have suggested that we encouraged pax and crew to not fly with any spare change.
We had around 80 aircraft, all jet, domestic to very long haul. The math can be interesting.


I won the Order of the Salmon for one suggestion one year.
I kid you not. It's still hanging on my key ring.

G-CPTN
16th Jan 2018, 22:22
I heard of an aircraft loaded with passengers on their way to a coin-collectors' convention.

Most of the passengers were carrying their coin collections in their hand baggage.

I believe that the aircrew struggled to get the aircraft into the air.

CloudHound
16th Jan 2018, 22:46
I agree with culling UK small change. But the coin we are missing is 25 pence (a quarter).

Tankertrashnav
16th Jan 2018, 23:39
Actually we aren't. Technically all the commemorative crown sized coins minted in 1965, 1972, 1977 and 1981 are legal tender for 25p. In practice though you would be pushed to find a shop that would accept them, and even banks are reluctant to accept them for exchange. Consequently they frequently change hands for less than face value in the coin trade. Hard luck on anybody who has a bag of them tucked away as an investment!

The US had some really oddball denominations. In the 19th century the standard letter post rate was 3 cents, so the US treasury issued 3 cent coins to assist post office clerks who would otherwise always be looking for 2 cents change for a nickel. There was even a gold $3 coin to enable you to buy a sheet of 100 stamps

Very sensible.

Krystal n chips
17th Jan 2018, 05:27
Sometimes it is, sometimes it isn't - it's a bit random.

There is a subculture of railway nerds who know exactly how to fight the impenetrable web sites in order to get the lowest legal fares, sometimes involving buying several tickets, none of which names the station you're actually going to, and if I'm doing an unusual (for me) journey I sometimes consult them.

I would imagine that for your £16.54 you didn't get to travel on a commuter train early in the morning - but that's fine, no sane tourist would want to[#], so everybody's happy.

[#] IMHO no same commuter would either, but that's a separate debate.

Thanks for that quaint definition GTW.....one is now a railway nerd and part of a sub culture as well ! ( although to be fair, I have been for a long time..it's nice to play these profiteers at their own game )

And for those extolling the low fares they encountered, true, but depends entirely on the operator and time of travel.

Back to " how to increase profits be removing coinage " ...and nostalgia for £.s.d.....metric being alien for many poor souls here in the UK.

ExSp33db1rd
17th Jan 2018, 05:30
........and I think our Kiwi friends further east may have gone even further and got rid of their 5c coins as well.

Correct, and we have "Swedish Rounding" ( what have the Swedes got to do with it ? ) so that a price tag ending in 0-5c goes down to 0 but 6-9c goes up to 10c. but .... many retailers insist that a price tag of 5c goes up to 10c - so then I use my credit card !

The USA still keeps the penny (1c) coin, and one is always 1c short, many shopkeepers keep a tin on the counter full of 1c coins, with a note ... If you're one short, take one, if you get one back, drop it in here..... Seems to work.

DON T
17th Jan 2018, 07:21
Can’t remember the last time I had a copper coin in my pocket. Mind you in the pub it’s usually to the nearest 10p or 5p.🍺😁

ExXB
17th Jan 2018, 11:14
The US is also the only country that doesn’t show its value in numbers. While a ‘quarter’ is obvious what the hell is a nickel? Some sort of metal completely absent from the coin.

Gertrude the Wombat
17th Jan 2018, 11:26
The US is also the only country that doesn’t show its value in numbers. While a ‘quarter’ is obvious what the hell is a nickel? Some sort of metal completely absent from the coin.
Well, I suppose you have to go by the size of the coins? - if they've got a 10c coin and a 5c coin then obviously the 10c coin is the larger one.

seafire6b
17th Jan 2018, 11:36
Wrong I'm afraid - confusingly the dime (10c) is pretty much smaller than the nickel (5c), although both coins are silver coloured. I was going to say "a bit smaller", but although there's no such coin, a "bit" is twelve and a half cents!

Tankertrashnav
17th Jan 2018, 17:28
There used to be though. The term comes from when Spanish 8 real coins, or pillar dollars were commonplace in what are now the Southern states of the US. The 8 real coin was the original "piece of eight" from the pirate stories, and was sometimes literally cut into quarters or even eight pieces, or bits. Thus "two bits" was worth a quarter of a dollar.

Ken Borough
18th Jan 2018, 11:19
Vietnam has the right idea. All of its currency consists of banknotes. You won't get a hole in your pocket as it's impossible to carry brick-like bundles of Dong in them. [I'll pass on the many Dong jokes as I'm sure everyone's heard them.]

SARF
18th Jan 2018, 15:33
Getting rid of cash would decimate the black economy.. it would also allow the government to impose negative interest rates for the next debt fueled crash.. .

As such no sane political party could ever propose it before an election

seafire6b
18th Jan 2018, 15:35
There used to be though. The term comes from when Spanish 8 real coins, or pillar dollars were commonplace in what are now the Southern states of the US. The 8 real coin was the original "piece of eight" from the pirate stories, and was sometimes literally cut into quarters or even eight pieces, or bits. Thus "two bits" was worth a quarter of a dollar.


Agreed, 8-real coins were sometimes cut into pieces, but there never was a ''piece of eight'' coin.

krismiler
19th Jan 2018, 00:06
China mostly uses electronic payment, even for small transactions, where a code is scanned by your smartphone releasing funds to the seller. Much simpler and often quicker than waiting for change. With the vast numbers of Chinese tourists travelling, retailers abroad are starting to cater for this and I’ve seen souvenir stalls on beaches in Thailand accepting Alipay which is one of the most popular systems.

Of course nothing is fool proof, recently a gang was busted in Malaysia for offering illegal reloads of Touch and Go cards, the Malaysian equivalent of the Oyster card. They had managed to get hold of special software and were offering credit at a 50% discount.

Imagine how much money is tied up in 1p and 2p pieces in piggy banks and jam jars, it must be in the millions.

meadowrun
19th Jan 2018, 01:37
Everyone keep a cash reserve accessible.
All eggs in electronic baskets.................

FullOppositeRudder
19th Jan 2018, 07:33
Well, I suppose you have to go by the size of the coins? - if they've got a 10c coin and a 5c coin then obviously the 10c coin is the larger one.That certainly seems logical enough. Alas here in Australia the $2 coin is smaller than the $1 coin. Our Kiwi friends over the ditch take great delight in reminding us of this anomaly, and usually go on the say that it's perfectly understandable that this would (only) happen in Australia :E

ExXB
19th Jan 2018, 07:40
it would also allow the government to impose negative interest rates for the next debt fueled crash.. .

Already done in CH.

But to clarify the US (and Canadian) dime (10c) is smaller than the nickel (5c). The Swiss silver 0.50 coin is the same size as the copper coloured 0.05 coin. Both are smaller than the 0.10; 0.20; 1.00 etc.

krismiler
19th Jan 2018, 09:14
The US Treasury actually caught someone counterfeiting nickles (5c coin), they calculated his production costs at 6c each.

Gertrude the Wombat
19th Jan 2018, 11:28
The US Treasury actually caught someone counterfeiting nickles (5c coin), they calculated his production costs at 6c each.
The economics of coin manufacture are discussed in

https://www.amazon.co.uk/Making-Money-Discworld/dp/B001OW5OGI/ref=sr_1_1?s=books&ie=UTF8&qid=1516364870&sr=1-1&keywords=making+money+terry+pratchett

In particular what happens when you make your own overtime payment, but you're earning the coins faster than you can make them ...

pax britanica
19th Jan 2018, 11:44
We seem to like heavy coins in Uk old half crowns being a good example and the modern 50p is quit solid.

the big argument here in my mind is the ability to sue cash to pay for something that you do not want tracked, doing everything electronically is big brother heaven with the sugar police and fat police tracking your every mars bar and Burger .

Some countries-Sweden being a good one dont mind that because they have had ID cards and the ubiquitous cradle to grave Perssonnummer (your six digit YY-MM-DD date of birth plus 4 digits) that follows you everywhere. In the Uk there is too much chance of the government selling your buying patterns to shops or insurance companies or holding them on insecure systems .

treadigraph
19th Jan 2018, 12:37
Imagine how much money is tied up in 1p and 2p pieces in piggy banks and jam jars

I built the Revell 1/48 Catalina a few years ago - quite a few 2p coins are superglued together in each engine cowling, plus another large wodge around the nose wheel well to bring its CG ahead of the main gear - original plan was to hang it from the bathroom ceiling!

bnt
19th Jan 2018, 12:49
Here in Ireland they already round all cash transactions to the nearest 5c, in preparation for removing 1c and 2c coins from circulation. They're still legal tender, so I'm slowly working my way through a jam jar's worth. Vending machines won't accept them any more, but self-service supermarket checkouts still do.

meadowrun
19th Jan 2018, 12:54
Got rid of mine by using a max of 25 in each bus fare. Went through 6,000+.
Still got 1/2 a peanut butter jar of American pennies tho'.

Loose rivets
19th Jan 2018, 22:26
Neil DeGrass Tyson was talking at our Texas university one night and he wanted to demonstrate relative values/numbers.

"You know me. I'm on TV, write books, the observatory, etc., etc."

In other words, he was saying he'd got a few bob. But he then said, "Just how much would I see on the sidewalk before I'd stoop to pick it up. A penny. Nah. Five cents, a dime. Nah. A quarter? Yeh, I'd pick that up."

Now he compared his relative wealth.

So by the same store, what would Bill Gates see on the sidewalk before he'd stoop to pick it up?" Tyson played this one for a moment or two. "Thirty-four-thousand-dollars."



I've a feeling the shrewd Bill Gates, would probably pick up ten bucks.

meadowrun
19th Jan 2018, 22:29
He's got picker upper people.

krismiler
20th Jan 2018, 05:00
It can be cheaper to drill a hole through a penny instead of buying a washer.

As for picking up coins in the street, what ever you don't pick up will be the exact amount you need to add to your small change to make a purchase without breaking a big note, or to pay for a parking meter.

Fareastdriver
20th Jan 2018, 06:30
Try Aralditing some old pound coins to the pavement.

Effluent Man
20th Jan 2018, 07:03
Blame the supermarkets and retail in general for the glut of 1p coins in circulation. Just about every price in the supermarkets ends in .99.

But how often do you go to the supermarket and buy a single item?

Gertrude the Wombat
20th Jan 2018, 08:58
But how often do you go to the supermarket and buy a single item?
Some people do so every day. But the lunch sandwiches are not usually priced to end in 99p.

Discorde
20th Jan 2018, 09:07
Some posters have referred to 'pieces of eight'. In the pre-decimal UK we had our own 'piece of eight' - the half-crown, worth 2s 6d (2/6), or one eighth of a pound. As kids we also referred to it as 'half-a-dollar', probably deriving from the wartime exchange rate of £1 = $4, although for our generation the pound had been devalued to $2.80 (and further to $2.40 in 1967).

Tankertrashnav
20th Jan 2018, 09:15
There used to be British West Africa pennies, halfpennies and a little one tenth of a penny coin. All of these had a had a hole in the middle, and the little one tenths were regularly used as washers, as it was actually cheaper than buying the genuine article.

Incidentally I usually pick up pennies. Not particularly superstitious but I always think of the old saying "See a penny, pick it up, all day long you'll have good luck".

Effluent Man
20th Jan 2018, 09:44
Some people do so every day. But the lunch sandwiches are not usually priced to end in 99p.

I am too tight to buy sandwiches. When I used to I travel I calculated that two cheese and pickle cost less than a pound to make.

Effluent Man
20th Jan 2018, 09:47
Try Aralditing some old pound coins to the pavement.

A favourite childhood game, wrapping half pennies in silver foil and leaving them on the pavement outside our front window. Great fun to watch people as they realised their find had depreciated by 96%.

Discorde
20th Jan 2018, 09:58
I usually pick up pennies. Not particularly superstitious but I always think of the old saying "See a penny, pick it up, all day long you'll have good luck".

Elvis took the opposite view:

‘If I found a lucky penny
I’d toss it ‘cross the bay . . . ‘

From ‘Good luck charm’.

Fareastdriver
20th Jan 2018, 10:56
British West Africa pennies, halfpennies and a little one tenth of a penny coin. All of these had a had a hole in the middle

The Rhodesian pre-decimal penny also had a hole in the middle. For every eleven bronze pennies they would mint a silver one so you had either bronze or silver to spend.

I worked in a bank and I would stack the pennies on a spike. It was amazing how easy it was to arrange the twelfth one to be silver so you just counted up each shilling's worth on the spike.

When Rhodesia decimalised they continued with the same coinage because they had minted coins in dual currency; i.e. the florin had two shillings and 20c on the reverse. There were now 100 pennies to the dollar instead of 120 to ten shillings so the penny appreciated by 20% overnight.

cattletruck
20th Jan 2018, 10:59
I wish they would get rid of these big [email protected]

http://www.cruzis-coins.com/50c/1969m2.jpg

At 31.5 mm across and 15.6 grams each just a few dollars worth in your wallet becomes a burden.

Effluent Man
20th Jan 2018, 11:35
Elvis took the opposite view:

‘If I found a lucky penny
I’d toss it ‘cross the bay . . . ‘

From ‘Good luck charm’.

Sat down upon the loo, pegged out at forty two!

Although I must admit I prefer the Father Jack version.