Dear Editor,

I refer to Mick McCuddin’s letter for my attention dated 13 January regarding the prospect of the demise of the penny in the territory and respond as follows.

I agree that a more simplified range of coins would be desirable particularly, as Mick points out, when the oldest marketing ruse in the book, selling an item for one cent less than the regular sales price is widespread amongst traders here.

I recall many years ago (emphasis on many) growing up in England and before the government of the day capitulated and joined the foreigners on the continent in using decimal currency, our coinage was denominated in Half a Crown –(2.6 pence), Florins – (2 shillings), 1 shilling, Six Pence, 3 pence, 1 penny, Half a penny and a Farthing. It required large, deep and strong pockets or a very large purse to carry all this currency about not only because of the extent of the different coin values but because of the enormous size and weight of some of them.

In several discussions that I have had on the subject of the penny it is generally believed that even though there is a global move to reduce coin sizes and the number of denominations, as long as pennies continue to be minted and used on the Mainland USA we shall have to follow suit. It is unlikely that lawmakers here would contemplate a change in the current consumer laws or the legislation affecting the present currency usage.

Recently Mick, two old pennies were sold at auction in the USA, one for $2.6 million and the other for $2.35 million. The prices were attributed to their age and rarity so perhaps you had better check your piggy bank of pennies and start embracing the coin as small change. You never know your luck!

Thanks for the thought, Mick.

Cheers,

David Robinson