Withdrawal of low-denomination coins

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Removal of low-denomination coins from production or circulation

The Swiss 1 Rappen coin, last minted in 2006

The withdrawal of a country's lowest-denomination coins from circulation (usually a one-cent coin or equivalent) may either be through a decision to remove the coins from circulation, or simply through ceasing minting.

## Reasons

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This withdrawal may be due to the high cost of production, since the coin may be worth less than its cost of production. For example, when Canada phased out its penny in 2012, its production cost was 1.6 cents per penny.[1] Other reasons include low purchasing power and low utility. Often coins are withdrawn after their purchasing power has been eroded after decades of inflation. In Switzerland, the 1 Rappen coin had fallen into disuse by the early 1980s, but was still produced until 2006, albeit in ever decreasing quantities. Conversely, the British Treasury department initially argued for the retention of the decimal halfpenny, on the grounds that its withdrawal would drive up inflation.[2]

In some countries, such as New Zealand,[3] withdrawn coins are declared to be no longer legal tender; in other countries, such as Australia, they remain legal tender indefinitely.[4]

When the coin in question is no longer minted, cash transactions are rounded, typically through Swedish rounding.[5]

Efforts have been made to end the routine use of pennies, and equivalents thereof, in several more countries, including the United States.[6] Countries in the eurozone have had different responses to the issue; according to James Debono writing for Malta Today, "scrapping the coins is considered unthinkable for Germany where both consumers and retailers are obsessed with precise pricing."[7]

## Countries

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This is a dynamic list and may never be able to satisfy particular standards for completeness. You can help by adding missing items with reliable sources.

Countries that have withdrawn their lowest-denomination coins include:

Country | Coin(s) | Year of last minting | Withdrawal date | Legal tender? | Notes

|
|
|
|
|

Albania | 5 qindarka
10 qindarka
20 qindarka
50 qindarka
1 Lek
2 Lekë | 1988
1988
1988
1988
2013
1989 | 1992
1992
1992
1992
N/A
1992 | No

Yes
No | The 1 lek has not been officially withdrawn.
Algeria | 1, 2, 5, 10, 20 and 50 centimes
1⁄4 and 1⁄2 dinars | 1980s
2000 | 1980s
2000 | No |
Argentina | 1 centavo
5 centavos
10 centavos
25 centavos
50 centavos | 2000
2011
2011
2010
2010 | N/A | Yes | Not officially withdrawn.
Armenia | 10 luma
20 luma
50 luma
1 dram
3 drams
5 drams | 2002 | N/A | Yes | Not officially withdrawn.
Australia | 1 and 2 cents | 1991 | 1 February 1992 | Yes | Legal tender for amounts not exceeding 20 cents;[4] can be paid into bank accounts but sometimes refused.
Austria | 1 groschen
2 groschen
5 groschen
20 groschen | 1950
1991
1992
1954 | 31 December 2001
31 December 2001
31 December 2001
30 April 1959 | No | As of 1 January 2002, with the introduction of the euro, the Austrian Schilling lost its function as a legal currency, but all legal tender coins at the time of the discontinuation of the Schilling are still convertible to Euros indefinitely.
Bahamas | 1 cent | 2014 | 2020 | No | Production of the one-cent coin ended on 31 January 2020; one-cent coins remained as valid coins for use until 30 December 2020; were accepted for full redemption from the partner banks of the Central Bank of the Bahamas through 30 June 2021.
Bangladesh | 1, 5, 10, 25 and 50 poysha | 2001 | N/A | Yes | Legal tender for amounts not exceeding 50 poysha.
Belgium | 1 centime
2 centimes
5 centimes
10 centimes
20 centimes
25 centimes
10 francs | 1914
1919
1943
1946
1963
1975
1979 | 7 May 1953
7 May 1953
1 January 1957
1 January 1957
26 November 1969
4 July 1980
25 June 1985 | No | With the introduction of the euro on 1 January 2002, the 50-centime, 1-franc, 5-franc, 20-franc and 50-franc coins ceased to function as legal currencies.
Brazil | 1 centavo | 2005 | N/A | Yes | Not officially withdrawn.
Canada | 1 cent | 2012 | 4 February 2013[8] | Yes | Cash transactions with sums ending in 1, 2, 6 or 7 cents are rounded down; those ending in 3, 4, 8 or 9 cents are rounded up. Non-cash transactions are still denominated to the cent.
Chile | 1 and 5 pesos | 2016 | 1 November 2017[9] | No | 1 and 5 peso coins ceased being produced in 2016, and was no longer legal tender on 1 November 2017; amounts are rounded to the nearest 10 pesos.
China | 1 fen
2 and 5 fen
2 jiao | 2018
2000
1986 | N/A
N/A
1 July 2000 | Yes
Yes
No | 1, 2 and 5 fen coins are not officially withdrawn. Amounts are rounded to the nearest 1 jiao (0.1 yuan or 10 fen).
Colombia | 1 centavo
5 centavos
10 centavos
20 centavos
50 centavos
1 peso
2 pesos
5 pesos
10 pesos
20 pesos | 1978
1979
1980
1979
1982
1981
1988
1993
1994
2008 | 1978
1979
1980
1979
1982
1981
1988
1993
1994
2008 | No | Amounts are rounded to the nearest 50 pesos.
Cook Islands | 1 and 2 cents
5 cents | 1983
1994 | 1993
30 April 2016 | No | Production of 1- and 2-cent coins ceased in 1983 and were demonetized in 1993; 5-cent coin demonetized on 30 April 2016, along with previous coin issues.
Costa Rica | 5 céntimos
10 céntimos
25 céntimos
50 céntimos
1 colón
2 colones
5 colones
20 colones | 1979
1982
1989
1990
1998
1984
2016
1996 | 1979
1982
1989
1990
1998
1984
2016
1996 | No |
Croatia | 1 and 2 lipa | 2012 | 31 December 2022 | No | As of 2009, 1 and 2 lipa coins struck only as annual coin sets.[10] With the introduction of the euro on 1 January 2023, the kuna ceased to be a legal tender currency.
Cuba | 1 centavo
2 centavos
5 centavos
10 centavos
40 centavos | 2020
2010
2020
1961
1998 | N/A
N/A
N/A
13 March 1962
July 2004 | Yes
Yes
Yes

No |
Czech Republic | 10 and 20 haléřů
50 haléřů | 2003
2008 | 31 October 2003
31 August 2008 | No |
Denmark | 1 and 2 øre
5 and 10 øre
25 øre | 1973
1989
2008 | 1 April 1973
1 July 1989
1 October 2008 | No[11] | Exchangeable at Danmarks Nationalbank for 3 years after withdrawal—now treated as scrap metal.
Dominican Republic | 1 and 5 centavos
10 and 25 centavos
1⁄2 peso | 1989
1991
1990 | 1989
1991
1990 | No |
Egypt | 5, 10 and 20 piastres | 2008 | 2008 | No |
Fiji | 1 and 2 cents | 2005 | 13 November 2008 | No |
Finland | 1 penni
5 penniä
20 penniä | 1979
1990
1990 | 1979
1990
1990 | No | As of 1 January 2002, with the introduction of the euro, it lost its function as a legal currency.
Georgia | 1 and 2 tetri | 1 January 2021 | 1 January 2021 | No | 1 and 2 tetri coins were discontinued as of 1 January 2021 and lost their status as legal tender. According to the new regulations on cash payments introduced by the National Bank of Georgia on 1 January 2019, 1 and 2 tetri are rounded to 0, and 3, 4, 6 and 7 tetri are rounded to 5.
Honduras | 1 centavo
2 centavos | 1998
1974 | 1998
1974 | No |
Hong Kong | 1 cent
5 cents | 1941
1980 | ?
1 January 1989 | No | Can be exchanged or paid into HSBC banks.
Hungary | 2 and 5 filler
10 and 20 filler
50 filler
1 and 2 forint | 1992
1996
1999
2008 | 30 September 1992
30 September 1996
30 September 1999
1 March 2008 | No | 2- and 5-filler coins were exchangeable at the Hungarian National Bank until 31 December 1993.
10- and 20-filler coins were exchangeable until 31 December 1997.
50-filler coins were exchangeable until 30 September 2000.
1- and 2-forint coins were exchangeable for five years from the date of withdrawal.[12]
Iceland | 5 aurar
10 and 50 aurar | 1985
1990 | 1 October 2003
1 October 2003 | No |
India | 1 paisa
2 paise
3 paise
5 paise
10 paise
20 paise
25 paise
50 paise | 1981
1979
1971
1994
1998
1997
2002
2016 | 30 June 2011
30 June 2011
30 June 2011
30 June 2011
30 June 2011
30 June 2011
30 June 2011
N/A | No

Yes | On 30 June 2011, all coins in denominations of 25 paisa and below were officially demonetised.[13]
Indonesia | 1 rupiah
2 rupiah
5 rupiah
10 rupiah
25 rupiah | ?

1979
1996 | ?

15 November 1996
15 November 1996
31 August 2010 | Yes

No |
Ireland | Halfpenny (decimal) | 1986 | 1 January 1987 | No | Irish pound coins were withdrawn in 2002 upon the introduction of the euro.
Israel | 1 agora
5 agorot | 1990
2007 | 1 April 1991
1 January 2008 | No | Exchangeable at the Bank of Israel and commercial banks for 3 years from withdrawal. Amounts are rounded to the nearest 10 agorot.
Italy | 1 lira
2 lire
5 lire
10 lire
20 lire | 1959
1959
2001
2001
2001 | 28 February 2002 | No | Coins below 1 lira were withdrawn in 1947. 1- and 2-lire coins minted from 1968 for collectors' use only; 5-, 10-, and 20-lire coins fell out of use before the 1990's. All lira-denominated coins were withdrawn in 2002 with the introduction of the euro and exchangeable until 2011.
Jamaica | 1 cent
5 cents
10 cents
20 cents
25 cents
50 cents | 2012
1994
2012
1990
2012
1990 | 15 February 2018
1994
15 February 2018
1990
15 February 2018
1990 | No |
Japan | 1 rin
5 rin
1⁄2 sen
1 sen
2 sen
5 and 10 sen
20 sen
50 sen
1 yen | 1892
1919
1892
1945
1892
1946
1911
1948
2016 | 1953
1953
1953
1953
1953
1953
1953
1953
N/A | No

Yes | All rin and sen coins were eventually demonetized at the end of 1953 when the Japanese government passed a law abolishing subsidiary coinage in favor of the yen.
1-yen coin have not been officially withdrawn and are produced in limited quantities for annual coin sets.
Kazakhstan | 2, 5, 10, 20 and 50 tiyin | 2001 | 31 December 2012 | No |
Kenya | 5 cents
10 cents
25 cents
50 cents | 1991
1994
1973
2009 | 31 December 2011
31 December 2011
31 December 2011
N/A | No

Yes |
Kyrgyzstan | 1 tyiyn | N/A | N/A | Yes | Not officially withdrawn; was minted in limited numbers as part of a new series of coins for general circulation for collectors.
Malaysia | 1 sen
1 ringgit | 2008
2005 | 1 April 2008[14]
7 December 2005[15] | Yes
No |
Mexico | 5 centavos | 2002 | 2002 | Yes | Not officially withdrawn, minting of coin ceased.
Moldova | 1 ban | 2017 | N/A | Yes | Not officially withdrawn, only the production of the coins was stopped.
Mongolia | 1, 2, 5, 10, 15, 20 and 50 möngö | 1981 | 1992 | No |
Morocco | 1 santim
5 santimat | 2001
2010 | N/A | Yes | Not officially withdrawn.
Netherlands | 1⁄2 cent
1 cent
2+1⁄2 cents | 1948
1983
1948 | 1948
1983
1948 | No | With the introduction of the euro on 1 January 2002, the 5-cent, 10-cent, 25-cent, 1-guilder, 2+1⁄2-guilder and 5-guilder coins ceased to function as legal currencies.
New Zealand | 1 and 2 cents
5 cents | 1987
2004 | 30 April 1990
1 November 2006 | No[3] | Exchangeable at the Reserve Bank of New Zealand, but amounts over $5 must be paid into a New Zealand bank.
Nigeria | 1⁄2, 1, 5, 10 and 25 kobo | 2007 | 28 February 2007 | No | 1⁄2\- to 25-kobo coins were withdrawn from circulation with effect from 28 February 2007.
North Macedonia | 50 deni | 1993 | 1 January 2013 | No | Exchangeable at banks from 1 January to 31 March 2013; exchangeable only at the National Bank of North Macedonia thereafter.[16]
Norway | 1 and 2 øre
5 øre
10 øre
25 øre
50 øre | 1972
1982
1992
1985
2012 | 1975
1985
1993
1985
1 May 2012 | No | Norges Bank was obliged to redeem 50-øre coins until 2022.[17]
Organisation of Eastern Caribbean States (OECS) | 1 and 2 cents | 2013 (1 cent)
2011 (2 cents) | July 2015 | No | 1- and 2-cent coins were withdrawn from circulation from July 2015, and remained legal tender until 30 July 2020.
Pakistan | 1 paisa
2 paisa
5, 10, 25 and 50 paisa | 1979
1976
1996 | 1 October 2014
1 October 2014
1 October 2014 | No | On 1 October 2014, all coins in denominations of 50 paisa and below were officially demonetised.[18]
Panama | Medio Centesimo | 1907 | 1930 | No[19] |
Papua New Guinea | 1 and 2 toea | 2006 | 19 April 2007 | No |
Peru | 1 céntimo
5 céntimos | 2011
2018 | 1 May 2011
1 January 2019[20] | Yes |
Philippines | 1⁄2 centavo
10 centavos
20 centavos
50 centavos
2 pesos | 1908
2017
1945
1994
1994 | 1908
N/A
1945
1998
1998 | No
Yes

No | 10-centavo coins are not officially withdrawn.
Russia | 1, 5, 10 and 50 kopeks | 2018[21] | N/A | Yes | Not officially withdrawn.
Serbia | 1 para
5 para
10 para
50 para | 1994
1996
1998
2007 | 1 May 2003[22]
1 May 2003
1 May 2003
1 January 2008 | No | Serbian dinar replaced the Yugoslav dinar in 2003.
Singapore | 1 cent | 2002[23] | N/A | Yes | Not officially withdrawn.
Slovakia | 10 and 20 halierov | 2003 | 31 December 2003 | No | As of 1 January 2009, with the introduction of the euro, the Slovak koruna lost its function as a legal currency.
Slovenia | 10 and 20 stotinov | 2006 | 31 December 2006 | No | As of 1 January 2007, with the introduction of the euro, the Slovenian tolar lost its function as a legal currency.
South Africa | 1 and 2 cents
5 cents | 2002[24]
2012[25] | 1 April 2002
1 April 2012 | Yes |
South Korea | 1 and 5 won | 1991 | N/A | Yes | 1- and 5-won coins have not been officially withdrawn and are produced in limited quantities for the Bank of Korea's official annual coin sets since 1992. Amounts are rounded to the nearest 10 won.
Sweden | 1 and 2 öre
5 and 25 öre
10 öre
50 öre | 1971
1984
1991
2009 | 30 June 1972
30 June 1985
30 September 1992
30 September 2010 | No | Payable into bank accounts for several months after withdrawal—now treated as scrap metal.
Switzerland | 1 Rappen
2 Rappen | 2006
1974 | 1 January 2007
1978 | No | Exchangeable at the Swiss National Bank for 20 years after withdrawal.
Taiwan | 10 and 20 cents
50 cents | 1981
2004 | N/A | Yes | Not officially withdrawn.
Tajikistan | 1 and 2 diram
5 diram
25 diram | 2011
2019
2006 | N/A
N/A
N/A | Yes | Not officially withdrawn; was minted in limited numbers as part of a new series of coins for general circulation for collectors.
Tanzania | 5, 10 and 20 cents
50 cents
1 shilling
5 and 10 shillings
20 shillings | 1984
1990
1992
1993
1992 | 1984
1990
1992
1993
1992 | No |
Thailand | 1, 5 and 10 satang | N/A | N/A | Yes | Not officially withdrawn, used only in transactions between domestic banks.
Trinidad and Tobago | 1 cent | 2014 | 2018 | No | Production ceased in 2014 and lost its validity in 2018; exchangeable at the Central Bank of Trinidad and Tobago.
Tunisia | 1 millime
2 millimes | 1990
1983 | N/A
N/A | Yes
Yes | Not officially withdrawn.
Turkey | 10 old para (0.25 old kuruş)
1⁄2 old kuruş (0.5 old kuruş)
1 old kuruş
21⁄2 old kuruş
5, 10, 25 and 50 kuruş
1 old lira
21⁄2 old lira
5, 10, 20 and 25 old lira
50 and 100 old lira
500, 1,000 and 2,500 old lira
5,000 old lira
10,000 old lira
25,000 old lira
50,000, 100,000 and 250,000 old lira | 1950
1965
1989
1965
1989
1990
1989
1990
1995
1998
2000
2000
2003
2004 | 1950
1965
1989
1965
1989
1990
1989
1990
1995
1998
1 February 2001
15 December 2001
23 February 2004
31 December 2005 | No | Following the redenomination that took effect on 1 January 2005, the old 1,000,000 lira was replaced with a new 1 lira.
Ukraine | 1 kopiyka
2 kopiyky
5 kopiyok
25 kopiyok | 2016
2014
2015
2016 | 1 October 2019
1 October 2019
1 October 2019
1 October 2020 | No | Exchangeable for 3 years after withdrawal. Amounts are rounded to the nearest 10 kopiyok (₴0.10).[26]
United Arab Emirates | 1 fils
5 fils
10 fils | 2005
2014
2018 | N/A
N/A
N/A | Yes
Yes
Yes | Not officially withdrawn.
United Kingdom | Half farthing (1⁄8 d)
farthing (1⁄4 d)
ha'penny (1⁄2 d, 1⁄480 £)
1⁄2 penny (1⁄200 £) | 1856[27]
1956
1967
1983 | 1870
1960
1969
31 December 1984 | No[2] | Decimal halfpennies can be paid into bank accounts at the discretion of commercial banks; cannot be exchanged by the general public at the Royal Mint, although private companies exist which can do so.
United States | 1⁄2 cent | 1857 | 21 February 1857 | Yes | All US coinage, pursuant to the Coinage Act of 1965, is legal tender for any amount.
Uruguay | 10 and 20 centésimos
50 centésimos | 1994
2008 | 2005
1 July 2010 | No |
Uzbekistan | 1, 3, 5, 10, 20, and 50 tiyin
1 sum
5 and 10 sum | 1994
2000
2001 | 1 March 2020
1 March 2020
1 March 2020 | No |
Vanuatu | 1 and 2 vatu | 2011 | 31 March 2011 | Yes[28] |
Vietnam | 200 đồng
500 đồng
1,000 đồng
2,000 đồng
5,000 đồng | 2003
2004
2003
2004
2003 | April 2011
April 2011
April 2011
April 2011
April 2011 | Yes |
Zambia | 1 and 2 old ngwee
5 and 10 old ngwee
20 old ngwee
25 and 50 old ngwee
1, 5 and 10 old kwacha | 1983
1987
1988
1992
1992 | 1 January 2013 | No | Following the redenomination that took effect on 1 January 2013, the old 1,000 kwacha was replaced with a new 1 kwacha.

## See also

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* Cent (currency)
* Penny
* Legal tender § Demonetization

## References

[edit]

1. ^ "Canada cuts costs by eliminating penny, while US still clings to iconic coin". FoxNews.com. 4 February 2013. Retrieved 12 October 2015.
2. ^ a b "1984: Halfpenny coin to meet its maker". BBC. Retrieved 21 October 2015.
3. ^ a b "History of New Zealand Coinage". Reserve Bank of New Zealand. Retrieved 20 October 2015.
4. ^ a b "RBA Banknotes: Legal Tender". Rba.gov.au.
5. ^ "Save the penny or leave the penny?". cbc.ca. Retrieved 2015-10-12.
6. ^ Lewis, Mark (5 July 2002). "Ban The Penny". Forbes. Retrieved 2009-05-07.
7. ^ Debono, James (10 April 2014). "1c and 2c coins here to stay". Malta Today. Retrieved 20 October 2015.
8. ^ "Phasing out the Penny | Canada's Economic Action Plan". ActionPlan.gc.ca. Archived from the original on 3 October 2013. Retrieved 12 October 2015.
9. ^ "El fin de las monedas de $1 y $5 y la regla de redondeo para el pago de beneficios". ips.gob.cl.
10. ^ "Kovanica 1 lipe, jedna lipa - katalog hrvatskog novca | KUNALIPA". kunalipa.com. Retrieved 2015-11-23.
11. ^ "Say Goodbye to the Smallest Danish Coin, the 25-Øre". CoinNews.net. 27 March 2008. Retrieved 21 October 2015.
12. ^ "Exchangeable cash withdrawn from circulation". Hungarian National Bank. Retrieved 20 October 2015.
13. ^ "Coins of 25 paise and below will not be Legal Tender from June 30, 2011". rbi.org.in. 18 May 2011.
14. ^ "Doing away with one-sen coin payment". The Star. 14 November 2007. Retrieved 20 October 2015.
15. ^ "Times are changing for fake ringgit coins". South China Morning Post. 8 September 2005. Archived from the original on 10 January 2019. Retrieved 2 May 2016.
16. ^ Bogov, Dimitar (26 April 2012). "Decision on Withdrawal from Circulation of Coins in Denomination of 50 Deni" (PDF). Skopje: National Bank of North Macedonia. Archived (PDF) from the original on 13 November 2013. Retrieved 4 August 2020.
17. ^ "50-øre coin withdrawn in 2012". Norges Bank. Archived from the original on 20 July 2014. Retrieved 21 October 2015.
18. ^ "SBP announces ceasing of coins up to 50 paisa". Business Recorder. 2 October 2013. Retrieved 27 October 2020.
19. ^ Stickney, Brian (2017). A Monetary History of Central America. The American Numismatic Society of New York. p. 312.
20. ^ "MONEDAS DE 5 CÉNTIMOS DEJARÁN DE CIRCULAR DESDE EL 1 DE ENERO DE 2019" (PDF). Central Reserve Bank of Peru (in Spanish). October 31, 2018. Archived (PDF) from the original on May 27, 2019. Retrieved October 31, 2018.
21. ^ "Russia stops minting kopeks". 14 May 2019.
22. ^ "Кованице од 1, 5, 10 и 50 пара избачене из употребе, али не и из цена". Radio Television of Serbia. 1 August 2017. Retrieved 26 October 2020.
23. ^ Ang, Benson (25 June 2013). "1-cent coin headed for history". AsiaOne. Archived from the original on May 15, 2014. Retrieved 20 October 2015.
24. ^ "One Cent (1c)". South African Mint. Archived from the original on 7 March 2016. Retrieved 21 October 2015.
25. ^ "5c coin to be discontinued". The Times. 24 November 2011. Retrieved 21 October 2015.
26. ^ "Національний банк упорядковує номінальний ряд банкнот і монет гривні". Національний банк України (in Ukrainian). Archived from the original on 24 August 2019. Retrieved 24 August 2019.
27. ^ "Fractional Farthings". Royal Mint Museum. Retrieved 10 Dec 2021.
28. ^ "Reserve Bank of Vanuatu statement: 1 and 2 vatu coins" (PDF). Reserve Bank of Vanuatu. Archived from the original (PDF) on 2 November 2012. Retrieved 21 October 2015.

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