Decision taken: Farewell 1 and 2 cents

Coins 1 and 2 cents will no longer be produced in Italy starting next year, when it will also be necessary to round prices at a sum of 5 cents closer, through excess or late. The sizes are less important in this case, but the first alarms are starting.

According to Vincenzo Donvito, president of ADL (Company for Users' Rights and Consumers), excessive collection in retail trade can generate more risks.

If in 2016 Italian families spent almost 11.5 billion euros on total food expenses, starting with an average increase of 0.2% of prices caused by collection, it turns out that the same costs could increase by 23 million per year”, transmits RCScanCE.

A sum that is equal to the state savings without including coins of 1 and 2 cents sends albinfo.ch.

Use of electronic money allows consumers to pay precisely, thus avoiding the risk of misrounding. But usually transactions are made in cash. This resistance to financial and digital innovation risks becoming an obstacle to a quality dance even in terms of transparency and consumer protection.

One thing is certain: From January 1st 2019, Italy will no longer produce small coins, which will continue to circulate until their depletion, so they will maintain their legal value to the end.

The decision relates to the excessive cost of production, management and distribution of coins of 1 and 2 cents. Right now it's just a suspension. According to relevant institutions data, around 10m euros have been spent annually (without T FOR 350 million of these coins.