English News Numismatics

No more small change from 2018: Italy dismisses Euro cent coins

Geschrieben von Sebastian Wieschowski

Is it a sensible step to save money and ensure more hygiene in everyday life? Or just another step towards a cash-free society? The surprising abolition of the 1 and 2 cent coins in Italy led to broad discussions. From January 1, 2018, the country does not want to produce single and two cent coins. The smallest euro cent coins are to be gradually abolished. The committee of the Chamber of Deputies has now taken this step in Rome. The prices in Italy will be rounded to the nearest five cent.

The official justification refers to the high production costs, and the practicability of the small coins for the daily money market is also mentioned. In several other countries the abolition of the small cent coins has been discussed for years, after Finland had long since abandoned the small euro cent coins. In Germany too, a possible abolition of the copper coins is well received, but after the abolition of the 500 euro banknote, the concern is that the small cent coins might soon lead to a complete end of cash money.

About the author

Sebastian Wieschowski