Goodbye change? Germany plans to abolish cent coins!

Goodbye change? Germany plans to abolish cent coins!

The US has taken a significant step towards a cashless future by ceasing production of the 1 cent coin, also known as a penny. Loud t-online.de the production costs of 3.69 cents per coin exceed their actual value. The last order from the US Treasury Department was in May 2025, so no new pennies will be issued from the beginning of 2026. The bipartisan consensus in the US Congress for abolition results in an annual savings of around $56 million from the production stop.

Similar considerations are being discussed in Germany. Experts from the “National Cash Forum” suggest abolishing one and two cent coins. The proposal calls for cash payments to be rounded to the nearest five cents. For example, a price of 4.99 euros could be rounded up to 5 euros, while an amount of 1.02 euros would be rounded down to 1 euro. This should not only speed up the payment process, but also reduce the high economic and ecological costs of producing and transporting small change.

Acceptance of abolition

Surveys show that 61% of Europeans and 53% of Germans are positive about the abolition of one and two cent coins. Many consumers find it annoying to handle small change and want lighter wallets. Merchants, on the other hand, advocate small change for psychological pricing reasons. An example of this is the difference between 1.99 euros and 2 euros, which would potentially be lost if small change were abolished. However, there are examples from other European countries such as Finland, Belgium and Ireland, where rounding up is already being done without any significant problems occurring.

In Germany, rounding would only apply to the total amount at checkout, but not to the pricing of the products. Concerns about possible systematic rounding profits for traders have not yet been confirmed. Additionally, small change is often used for donations, and some fear that the elimination of cent coins could herald the end of cash altogether. However, experiences from other countries have shown that cash continues to be used even without cent coins.

Economic considerations

The abolition of small change could not only lead to a simplification of payment transactions, but also bring ecological benefits. The high costs of producing and transporting small change could be saved. Loud computerbild.de In this context, we talk about the possibility of significantly reducing the high economic costs by foregoing small change.

In summary, it can be seen that the trend in both countries is towards simplified, cashless payment transactions, with both savings and environmental sustainability in the foreground.