Could this be the end of the 1p and 2p coins?

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The future of the 1p and 2p coins is in the hands of the Treasury, as they believe that there is an decrease in demand for them.

They are inviting opinions on the mix of coins that are currently in circulation, as it has been proven that most people now use non-cash ways of payment.

Contactless payment and digital spending are now the most common ways that people pay for goods and services.

£50 notes are also being questioned, which are said to be rarely used for purchases.

According to statistics published by the Treasury, 60% of copper coins are either being used in one transaction or being stashed away in a jar.

The Royal Mint, which produces coins and notes in the UK, issues more than 500 million 1p and 2p coins each year, to replace those coins which have fallen out of circulation.

So how this affect local businesses?

Samayya Khan, who runs St. Judes Post Office, College Road, Stoke-on-Trent, said: “Its not a very good idea.

“If things are rounded off to a fuller figure then it will be fine, but obviously we have things for 99p.”

Sammaya believes that elderly people will be affected the most by this change.

She said: “Although we have a lot of contactless payments come in now, we still have a lot of elderly people using cash, so I feel it will be a lot harder for them.

“I don’t think this change will affect the Post Office because we are getting so many contactless payments and like I said, it will just affect the people who are used to handling cash.”

Jannet Allen, manager of Samaritan charity shop, Church Street, Stoke-on-Trent, said: “This change won’t affect our shop as we don’t do anything for 99p or 85p or anything like that.

“Kids like change and they can go to the shops and buy sweets with it, and when they go on holiday they use the change for 2p slot machines.”

Kate Blaze, who also works at the Samaritan charity shop, said: “Things will cost more if this happens, surely.

“You won’t be able to charge 99p for something, because we won’t have any pennies.

“So, if you go into a shop and buy 10 things at 99p, then you’ve lost 10p because now you’ll have to pay £1 for it.

“Can you imagine if you did that every day, it’s bloody stupid.”

Ministers have said that there are no current plans to scrap 1p’s and 2p’s.

With the future of pennies still in doubt, only time will tell if this would have an impact on businesses.

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