Abolish 1p and 2p Coins from circulation and production

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Petition Action

Abolish 1p and 2p Coins from circulation and production

Petition Details

I think that the abolishment of 1p and 2p coins from circulation and
production and the use of a “rounding system” to counteract the removal of 1p and 2p coins could save the UK a substantial amount on a yearly basis, as well as making it easier for consumers and business owners to handle money.

Additional Information

Removal of 1p and 2p coins could save the Royal Mint a sizeable chunk of money, which could then be allocated to more important areas of the government's budget.

A “rounding system” could easily counteract the removal of the coins, which rounds the total value of a purchase (after taxes have been applied) up or down to the nearest five. A system similar to this has already been implemented in Canada and New Zealand, and seems to be a success.

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