Russia May Eliminate Its Smallest Coin, the One-Kopek
Russia could lose its smallest coin denomination, the one-kopek. The St. Petersburg Times reports the coin’s possible elimination was voiced by Arkady Trachuk. Mr. Trachuk is the General Director of Goznak, the Russian government agency responsible for printing banknotes and minting coins.
In parallel thinking, the reasoning is nearly identical to those who would like to see the U.S. Lincoln cent eliminated:
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Metal prices are higher now, making coins more expensive to mint compared to what they are worth
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The coins no longer have the buying power they once did
