Thank heavens, the (Royal) Mint are still printing pennies and 2p coins, and our government has seen sense and put a stop to their own terrible plans.
The printing of pennies and 2p coins mean nothing to most people. But if it stopped, and you do a deep dive to understand the impact, it’s huge…
As an example, let me ask you a few questions:
When you go shopping (doesn’t matter where), when you are handed a penny or 2p as your change, and the store has a charity box. What do you do with it?
When you walk past someone (normally coming out of 1 of the big supermarkets or a shopping centre) collecting for a worthy cause. What do you do with all your pennies and 2p coins?
You see someone in the street sleeping rough, with a sign asking for help so they can eat and drink. What do you do with your loose change?
Music fills the air, as a busker does their best to grab your attention and spare some loose change, just so they can provide for their family. Can you keep your hands in your pockets?
If you’ve got young children at home and they bring home a charity savings box from primary school. What do you do with your pennies and 2p coins?
You start to teach your children about money and how important it is to save for the future. So you buy them a piggy bank or get hold of 1 of those big whisky bottles. And when you come each night, what do you do with your coppers?
It was only this week Mr Hammond suggested the government would launch a review into the use of the copper coins. Claiming around two-thirds of the coins are only used once before being unsigned to piggy banks (like these kind of education is not important) or even thrown away, never to be seen again.
And as we would have expected (don’t know why the Government would not think this way too), there was a huge back-lash from charities and other organisations.
Sir John Low, chief executive of the Charities Aid Foundation, said: “The Chancellor’s statement contains details which could have profound effects on charities. Cash is still by far the most common way people donate to charity, so the governments plans could have a real impact on charities, especially if people carry less cash to give away”.
A spokesman for the National Pensioners Convention (Neil Duncan-Jordan) joined into the Government slapping debate, saying “pinching coppers could be the start of a more dramatic move towards a cashless society. What lies behind it might be a drive towards digital transactions which aren’t always suitable for some older people. What we don’t want to see is a move towards just one way of doing things.”
And even our young children were used as an example to the Government. As Sarah Coles (a personal finance analyst at Hargreaves Lansdown) said “parents might have to find new ways to get their children to save, if piling coppers into piggy banks and jars was no longer an option. For kids, putting spare change into a money-box can help establish a regular savings habit. It’s useful for them to physically see how over time the pennies start to add up.”
Finally, faced with this pressure the Government seem to have backed down…
Just today, number 10 tried to play down the row, signalling the Government will back-track in the face of opposition.
A Prime Minister spokesman said “there are no proposals to stop printing 1 or 2p coins. The call for evidence was simply intended to enable the Government to better understand the role of cash and digital payments in the new economy. We were seeking views on whether the current denominational mix of coins meet the public’s needs, and from the early reaction it looks as if it does.”
As well as being fantastic news for charities, pensioners, the homeless and children (who want to save). This is great news for us and our customers too…
You see, we provide a number of monthly printing packages for the home, self-employed, business and schools, which save money and are very competitively priced at £11.99, £14.99 & £19.99. And the government back-track, means our customers can still choose to donate their pennies (in change) to their own worthy causes.
…whether that’s a charity, the homeless or even their own children’s piggy bank.