Disappearing red coins: what is a problem?

For several years, the French State has been preparing its fellow citizens for the disappearance of coins, yet Europe has still not made it official. According to L’Humanité, at the end of December 2022, the management of the Monnaie de Paris presented elected officials with a strategic plan showing a 40% drop in the volume of 1, 2 and 5 cent coins produced by 2027. The “zero cash” objective seems to be well under way when the subject is controversial and certain arguments are countered one by one by the opposition, such as that of the ecological aspect: “The 1 and 2 euro cent coins are made from from a ferrous material and a light alloy for the color, from ores extracted in Europe, in a process that does not consume so much energy”, affirmed David Faillenet, elected UGICT-CGT at the Money of Paris.

It is true that cash payment is declining from year to year and the French are turning more to dematerialized payment such as credit cards, payment cards and computer applications integrated into mobile phones praising the merit of security. The idea of ​​also having your money available without having to go to ATMs is reassuring. This new habit seems all the more encouraged by merchants and large retailers since the costs of payment by bank card are considerably reduced for these companies. Also, to fight against fraud and banditry, the European Commission has already obtained from the European Central Bank the abandonment of the €500 banknote at the end of 2018. All of these elements favor the movement towards the “no cash” rocker. However, some consumers could be completely disadvantaged by this device.

In this slideshow, discover 5 disturbing consequences in the event of the coins disappearing.