Cash totals to be rounded in Ireland

Umm, this is about cash rounding. @gxseries : Yes, you could do that but I think that by and large you don't gain or lose anything even if you paid cash or non-cash every time.

As for the coin sets, agreed - at least in the euro area, every country makes every denomination every year because they can sell the sets. So in catalogs you will, all too often, see the note "in sets only". I don't like it, but obviously there are people who do ...

Christian

 

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The gas station near my house rounds everything to the nearest dime or quarter, they don't use cents or nickels at all. It really works pretty well

 

Absolutely correct, Christian. I purchased an English-language version of the Lighthouse Catalogue Euro 2015 and was stunned by the number of standard circulating euro coins minted solely for inclusion in uncirculated or proof sets.

I would expect more mint set-oriented mintages from the smaller populated EU members (Luxembourg, Finland, perhaps Portugal) and from the smaller numismatic-oriented nations that use the euro like San Marino, Vatican City and Andorra) but, it is the large cornerstone nations like France, Germany, Italy and Spain that issue many, many traditionally circulating euro coins in sets only, often for years at a time. I have found that the big mintages of 1999 through 2002 have often sufficed for commerce needs in the EU for 13 years!

American Kennedy half dollars, presidential and Sacagawea dollar coins have plenty of minted, but non-circulated company among our European Union friends.

 

All fiat money eventually fails

 

You just like saying the word fiat.

 

In some cases that is absolutely right, yes. Eight years ago, for example, the common side of the 10 cent to 2 euro coins got an updated design - but the French 50 ct and €1 pieces have never been minted for circulation with those designs, only for sets. Same thing with German 10 ct, 50 ct, €1 coins. Other denominations, and coins from other euro countries, were minted at least to some extent.

Of course it does not make much sense to produce new coins if there is no need for them. But people who collect "by year" cannot do that using circulation coins only, and even those who collect by type or design (such as myself) will have to get a set at least from time to time if they want all designs of all denominations ...

In terms of quantity, probably so. The difference is that our "halfs" (50 cent) and "dollars" (€1, €2) are normal denominations that people use in everyday life. With these rounding regulations, only the 1 and 2 cent coins have or will become "exotic" in some countries. But of course the mints will gladly continue to make them.

Christian

 

The latest press release from the central about this:
28 October is Rounding Day

 

In Canada it's actually different than in Ireland. Canada no longer makes the 1 cent coin, and has been taking them out of circulation. So pretty much all Canadian people are rounding to the nearest 5 cents. Banks accept 1 cent coins for deposits or whatever, but I don't think you can walk into a store and use them, or get them in change back for transactions.

This was back in 2012 I heard Canada got rid of the 1 Cent.

 

You can use the 1 cent coin in stores you just have to use an amount that ensures it rounds to the nearest 5. Many stores won't bother to take them anymore though.