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One in five Brits thinks it’s time to ditch copper coins

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25/09/2015
A fifth of Brits would be happy to see one and two pence coins taken out of circulation, according to a study.

The research by Gocompare.com found 21 per cent of UK consumers would prefer the 5p piece to be the lowest denomination coin in Britain.

It also showed that 68 per cent of consumers prefer to empty their wallets, purses and pockets of copper coins rather than carry around or spend them.

Of those who do use coppers, 32 per cent said they make a deliberate effort to use them, with 24 per cent using coppers in daily spending. Women (29 per cent) are more likely than men (18 per cent) to use 1p or 2p coins to pay for items in their day to day shopping.

Coppers were least popular with 18-24 year olds, with a third saying they would be happy if the 5p coin was the lowest value coin in circulation – versus 21 per cent for all adults.  More than three times (18 per cent) as many 18 to 24 year olds never spend pennies or 2p coins than all adults combined (5 per cent).

Matt Sanders, Gocompare.com money spokesperson, said: “Our survey suggests that for many people, copper coins have had their day. Rather than carrying around a pocket or purse full of heavy, low value, coins, many people are storing their small change in a coin jar – some are even binning their coppers.

“Today, in a world of higher prices, plastic cards and contactless payments, copper coins seem increasingly worthless and irrelevant.”

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