France to axe 1 and 2 euro cent coins?

France Weighs Reducing Coin Production: Economic Savings or Social Disruption? France's Monnaie de Paris is considering a 40% reduction in the production of 1, 2, and 5 cent coins by 2027. This decision echoes similar moves in the United States and Canada, prompting debate about its economic implications and potential impact on French society. The proposed reduction aims to cut costs associated with minting and distributing these low-value coins. The US experience, where the cost of producing a penny exceeds its value, serves as a case study. However, critics argue that eliminating these coins could negatively affect small businesses, forcing them to round up prices, and harm charities reliant on small donations. A recent Ifop barometer revealed that 56% of French citizens favor maintaining the small coins. This highlights the public's attachment to these coins, and their importance in everyday transactions and charitable giving. The video also notes that some European countries have already discontinued these coins, while others, such as Belgium and Italy, have not. The Monnaie de Paris's decision will likely have far-reaching consequences, balancing economic efficiency with the social and practical implications of removing small change from circulation.