Tuesday, 21 October 2008

Care To Spend A Penny?

I know it's hard to believe, but the Economy needs one pence coins. Daft, but true. The Royal Mint continues to make these little copper coins which, for most people, are practically useless and a confounded nuisance, because the banking sector demands them. It's as simple as that; or is it?

Why do the Banks continue to demand one pence coins? Because their customers - particularly retailers, shop-keepers, publicans and many more - persist in selling their goods in odd amounts like £1.99 or, for that matter, £999.99!

Now that is yet another mystery solved.


Cadiz said...

The Roman Emperors did the same kind of thing, it assisted circus gambling, many of the little suckers being tossed at senators, they were also used as barracks money by the troops, they were of course never mistaken for real money by the military, and it was wise to remember that.

Timothy Belmont said...

Fair comment!