What to do with the pennies in your wallet?

Published on : 04 November 20213 min reading time
In your wallet, you may have 1 or 2 pennies lying around. You are probably wondering what to do with the red coins in your wallet. You can make them useful again, even though many people think they are not worth much. These red or yellow coins can clutter up your wallet. You can recycle and trade to get rid of these small coins. They can even bring you money.

Red coins will become rare

The European Commission is planning to stop the flow of red and yellow coins. These are the small 1 and 2 cent coins that used to hang around in your wallet with no much use. This measure has been taken to save on the costs of manufacturing these coins. It should be noted that it costs 1.65 cents to produce a one-cent coin, which is too expensive. After production has stopped, these coins will become rarer. The rarer they are, the more valuable they will be and can be resold for hundreds of euros after a few years. You will then have the choice of what to do with your red coins. So what to do with the red coins?

Redeeming red coins at vending machines and cash registers

To avoid losing money by leaving them at the bottom of your wallet, you can spend them or exchange them. To do this, automatic machines and cash registers are responsible for exchanging these coins. Nowadays, minting a penny is a waste of money. There are machines where you can get rid of the coins by exchanging them for chewing gum or a dose of antibacterial gel in the vending machines. There are also kiosks in supermarkets that you can use to exchange red coins for vouchers, make a donation or participate in games and advertising campaigns.

Redeeming red coins for banknotes at banks

Yes, you can exchange red coins into banknotes if you have a lot of them and the best way to do it is to go to your bank. First, you have to ask for rolls to put your coins on, then, you just have to fill in the rolls and your bank will exchange your red coins for the equivalent amount in notes. However, be aware that some banks do not allow you to make this kind of exchange if you are a private individual.