Saturday, March 22, 2014

1 stotinka*

What would you do for one stotinka? Some would not even bother to bend down and pick it up. It should be eliminated, and here’s why:
1. It costs more to create than its nominal value (25% more to be exact).
2. It costs more to be counted every time at the cashier than its nominal value (that is, in working hours)
This means that you pay more to your workers to count, transport and generally care for your one stotinka coins then the value you would get from keeping them.
3. It has no real purchasing power.
There is nothing you can buy for one stotinka at the store, and vending machines don’t even take them since they have realized it increases costs too much.

If you are worried about the effects it might have on economy, or how we will pay if our bill is 1.99, then don’t. Payment will be rounded up to the nearest five stotinki, so for 1.96 you will pay 1.95, and for 1.99 you will pay 2.00. At the end with multiple transactions it all evens out.  Many countries have already applied this to their own currency: Canada, New Zealand, Switzerland, and others as well, some of which are from the Eurozone. This is basically a no-brainer, and should be implemented without debate.


*all of this applies to the coin for 2 stotinki as well

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