Estonia’s head of cash on sunsetting low-value coins
Bank of Estonia’s Rait Roosve speaks about the country’s decision to stop minting one- and two-euro cent coins
What prompted the decision to do away with one- and two-euro cent coins?
One- and two-cent coins are expensive to produce and handle, and they place a heavy burden on the environment. Nothing very much can be bought with them, and so they are barely used at all for making payments in Estonia. These small coins consequently remain unused and do not return into circulation. Shops need the little coins though, to give to their customers as change, and that is why ever more of them are constantly
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