Latvia Contemplates Farewell to Small Coins


Latvia's central bank, Latvijas Banka, is in the midst of a heated debate about discontinuing the 1- and 2-cent euro coins.


The potential introduction of price rounding, as seen in countries like Ireland, Belgium, Finland, and Italy, is under scrutiny.


Examining the Swedish model, where coins were withdrawn gradually, Latvia weighs the consequences and potential benefits while taking public opinions into account.

Swedish Model

Latvia anticipates challenges in adjusting cash registers and systems if a price rounding system is adopted, acknowledging the associated costs and time investments.

Logistical Challenges

Surveys conducted by the Bank of Latvia indicate strong public support for revising euro coin denominations, particularly in abandoning the 1- and 2-cent coins.

Public Opinion

While Latvia considers changes, there is no current discussion about eliminating the 5-cent euro coin.

Future Steps

The Bank of Latvia estimates that approximately 8.7 million or 37 tons of coins have been exchanged this year through September.


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