1 and 2 euro cents could be worth a fortune

The adventure of the 1 coins seems destined to end e 2 euro cents that today fill our purses. In fact, the EU Commission recently started a discussion on the matter. By the end of December 2021 it should dissolve the reservations on whether to withdraw the coins of 1 and 2 euro cents. Let’s go deeper into the topic considering that, probably, in the short term, a few euro cents could really be worth a fortune.

The evaluation of the EU Commission

The process initiated by the Commission, in technical jargon, is called an impact assessment. Going into more detail, this is a public consultation that will involve the institutions, public authorities, civil society and industry. This sort of hearing, which will last for fifteen weeks, aims to estimate the possible and varied repercussions that the withdrawal of the coins could cause. Only at the end of this consultation process, approximately one year from now, will the Commission possibly present a bill.

The intention would be to withdraw coins of 1 and 2 euro cents from the market. This will result in the inevitable rounding to the nearest digits, up or down, depending on the last digit. At the moment, therefore, it is only a hypothesis of feasibility, given that it is the Community regulations that provide for this type of examination. So, for the final and definitive decision, the appointment is postponed to the end of 2021.

1 and 2 euro cents could be worth a fortune

The proposal, to tell the truth, is not new. In the past, proposals to this effect had been made on several fronts, namely to round directly to the ten after the decimal point. Now, beyond what will be the final decisions, and which, as already said, are the responsibility of the Commission, there is another aspect to consider. That is to say the possible revaluation value that these 1 or 2 euro cent coins could have in a few decades.

So, as mentioned, 1 and 2 euro cents could be worth a fortune. So, in ten, twenty or even more years, a market could be created centered on the exchange of the current 1 or 2 euro cent coin. The final effect will obviously be a consequence of the conjunction of two parameters:

a) the rarity effect, ie the number of pieces actually in circulation;

b) the time factor, for which what today is worth, in fact, 1 or 2 cents, could tomorrow be worth much, much more.

–