Withdrawal of low-denomination coins
The withdrawal of a country's lowest-denomination coins from circulation may either be through a decision to remove the coins from circulation, or simply through ceasing minting.
Reasons
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.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 Often coins are withdrawn after their purchasing power has been eroded after decades of inflation.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.
In some countries, such as New Zealand, withdrawn coins are declared to be no longer legal tender; in other countries, such as Australia, they remain legal tender indefinitely.
When the coin in question is no longer minted, cash transactions are rounded, typically through Swedish rounding.
Efforts have been made to end the routine use of pennies, and equivalents thereof, in several more countries, including the United States. 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."
Countries
Countries that have withdrawn their lowest-denomination coins include:| Country | Coin | Year of last minting | Withdrawal date | Legal tender? | Notes |
| 1 centavo | 2001 | N/A | Yes | Not officially withdrawn | |
| 1 and 2 cents | 1991 | 1 February 1992 | Yes | Legal tender for amounts not exceeding 20 cents; can be paid into bank accounts but sometimes refused | |
| 1 cent | 2014 | 2020 | Yes | Production of the one cent coin will end on January 31, 2020; one cent coins will remain as valid coins for use until December 30, 2020; will be accepted for full redemption from the partner banks of the Central Bank of the Bahamas through June 30, 2021 | |
| 1 and 2 euro cent | N/A | 2014 | Yes | Remain in use at some retailers; Coins are still struck for annual coin sets | |
| 1 centavo | 2005 | N/A | Yes | Not officially withdrawn | |
| 1 cent | 2012 | 4 February 2013 | Yes | Non-cash transactions are still denominated to the cent. | |
| 1 and 5 peso coins | 2017 | 1 November 2017 | No | Amounts are rounded to the nearest 10. | |
| 1 and 2 lipa | 2012 | N/A | Yes | Not officially withdrawn; since 2009, coins struck only as annual coin sets | |
| 10 and 20 haléřů 50 haléřů | N/A | 31 October 2003 31 August 2008 | No | ||
| 1 and 2 øre 5 and 10 øre 25 øre | 1973 1989 2008 | 1 April 1973 1 July 1989 1 October 2008 | No | Exchangeable at Danmarks Nationalbank for 3 years after withdrawal - now treated as scrap metal | |
| 1 and 2 cents | 2005 | 13 November 2008 | No | ||
| 1 and 2 euro cent | N/A | 2002 | Yes | Only a few were minted; coins are still struck for annual coin sets | |
| 1 cent 5 cents | 1941 1980 | ? 1 January 1989 | No | Can be exchanged or paid into HSBC bank | |
| 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 | |
| 5 aurar 10 aurar 50 aurar | ? | 1 October 2003 | No | ||
| Halfpenny 1 and 2 euro cent | 1986 N/A | 1 January 1987 28 October 2015 | No Yes | Rounding is optional for consumers | |
| 1 agora 5 agorot | 1991 2006 | 1 April 1991 1 January 2008 | No | Exchangeable at the Bank of Israel and commercial banks for 3 years from withdrawal. | |
| 1 and 2 euro cent | N/A | 1 January 2018 | Yes | Coins are still struck for annual coin sets | |
| 1 sen | 2008 | 1 April 2008 | Yes | ||
| 5 Centavos | 2002 | 2002 | Yes | Not officially withdrawn, minting of coin ceased. | |
| 1 ban | 2017 | N/A | Yes | Not officially withdrawn, only the production of the coins was stopped | |
| 1 and 2 euro cent | N/A | 1 September 2004 | Yes | Rounding is optional for retailers | |
| 1 and 2 cents 5 cents | 1987 2004 | 30 April 1990 1 November 2006 | No | Exchangeable at the Reserve Bank of New Zealand | |
| 1 and 2 øre 5 and 25 øre 10 øre 50 øre | 1972 1982 1992 2012 | 1993 1 May 2012 | No | Norges Bank is obliged to redeem 50-øre coins until 2022 | |
| Medio Centesimo | 1940 | 1940 | No | ||
| 1 and 2 toea | 2006 | 19 April 2007 | No | ||
| 1 and 5 kopeks 10 and 50 kopeks | 2017 2014 | N/A | Yes | Not officially withdrawn | |
| 1 cent | 2002 | N/A | Yes | Not officially withdrawn | |
| 1 and 2 cents 5 cents | 2002 2012 | 1 April 2002 1 April 2012 | Yes | ||
| 1 and 5 won | 1991 | N/A | Yes | Not officially withdrawn, the two denominations are produced in limited quantities in official Bank of Korea mint sets | |
| 1 and 2 öre 5 öre 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 | |
| 1 Rappen 2 Rappen | 2006 1974 | 1 January 2007 1978 | No | Exchangeable at the Swiss National Bank for 20 years after withdrawal | |
| 1 cent | 2014 | 2018 | No | Production ceased in 2014 and lost its validity in 2018; exchangeable at the Central Bank of Trinidad and Tobago | |
| 1, 2 and 5 kopiyok | 1992 | 2018 | No | Exchangeable for 3 years after withdrawal | |
| penny farthing | 1983 1956 | 31 December 1984 1960 | No | Decimal halfpennies can be paid into bank accounts at discretion of commercial banks; cannot be exchanged by the general public at the Royal Mint although private companies exist which can do so | |
| cent | 1857 | 21 February 1857 | No | ||
| 10 and 20 centésimos 50 centésimos | 1994 2008 | 2005 1 July 2010 | No | ||
| 1 and 2 vatu | 2011 | 31 March 2011 | Yes |