If the European Commission has its way, it may soon be impossible to offer “A penny for your thoughts,” as it moves on a long-discussed idea of eliminating the tiny and nearly-worthless one- and two-cent coins from commerce.
Last week, officials began a 15-week period for public comment on a plan for EU-wide common rules on rounding up or down to the nearest five cents, a plan already in effect in some countries, where the cost of producing the tiny copper coins exceeds their value and consumers have complained they clutter pockets.
So, now is literally the opportunity for EU citizens to get their ‘two-cents’ worth’ in on the subject by leaving feedback on the European Commission’s website. If theirs enough European unity on the subject, laws would be needed to end production of the coins and to phased them out by the end of next year.
