Eluc on Nostr: In Switzerland we removed the 1 cent coin about 20 years ago, in the end it was not ...
In Switzerland we removed the 1 cent coin about 20 years ago, in the end it was not accepted by most shops and cost 12 cents to produce as it was only produced in small quantities. But we still have the 5 cents, accepted in every shops but often refused by vending machines (most coin acceptors can train 6 type of coins, while we have 7 between 5CHF and 5 cents, the lower value coin is often dropped).
The 5 cents coin now cost more or less its face value to get produced, depending on metal cost variation.
At the time it was considered to drop the 5 cents as well but it was refused as the main concern would be that the basic stamp for a mail would increase from 85cents to 90 cents. We still have the 5 cents but the cheapest stamp increased 3 years ago from 85 to 90 and again from 90 to 1.00CHF last year. So now we could drop the 5 cents coin as we got rekt by the postal services anyway.
The 5 cents coin now cost more or less its face value to get produced, depending on metal cost variation.
At the time it was considered to drop the 5 cents as well but it was refused as the main concern would be that the basic stamp for a mail would increase from 85cents to 90 cents. We still have the 5 cents but the cheapest stamp increased 3 years ago from 85 to 90 and again from 90 to 1.00CHF last year. So now we could drop the 5 cents coin as we got rekt by the postal services anyway.