A recent Eurobarometer study points to the unpopularity of these small coins across Europe: in Luxembourg, 58% of respondents support their abolition, while Slovakia notes even stronger opposition, with 85% in favour of abolition. Meanwhile, Greece remains the most attached to the coins, with 55% preferring to keep them.
In several EU countries, one and two cent coins have already disappeared from daily transactions. Instead, cash payments are rounded: prices like €1.99 are adjusted to €2, while amounts just above a round figure are rounded down. This system is already in place in Slovakia, Ireland, the Netherlands, and Finland, where no new one or two cent coins are being produced.
US President Donald Trump has now also announced that he will halt the production of the penny, given the production cost exceeding the coin’s value.
Our colleagues at RTL.lu asked the Luxembourg Central Bank (BCL) whether similar initiatives are underway in Luxembourg. The BCL referred us to the Ministry of Finance, who confirmed that the bank is handling the matter.
