Eesti Pank will issue the 2021 two-cent and 20-cent coins into circulation
Eesti Pank will this week start to issue into circulation two-cent and 20-cent circulation coins dated 2021 to cover the demand from shops for these coins. They are the same as earlier coins in design and only the minting year is different. Eight million two-cent coins and two million 20-cent coins stamped with the year 2021 were minted by the Lithuanian mint.
The new two-cent and 20-cent coins will be available from tomorrow from the Omniva online shop and from the Eesti Pank Museum shop during its opening hours of Tuesday to Friday 12.00-17.00 and Saturday 11.00-16.00.
One and two-cent coins are mainly used in Estonia as small change, because people receive them as change from their purchases but then use them later on very little, so that coins with very low nominal values generally are not returned to the central bank. This means that two truckloads of one and two-cent coins need to be brought to Estonia each year.
Because of this, the central bank has started a discussion about introducing rounding rules. It is not proposed that the prices of individual goods or services be rounded off, but only the final total to be paid at the till would be rounded if it is paid in cash. Rounding would be up or down to the nearest five cents. Experience from other countries has shown that this does not raise prices overall, but it substantially reduces the need for one and two-cent coins. The central bank proposes that rounding would only be used for purchases paid for in cash, and that card payments would continue to use the exact price. It would still be possible to pay with one and two-cent coins under the rounding rules, but they would not be given out to shoppers from the cash tills.
A Eurobarometer survey carried out in spring this year showed that 71% of Estonian residents support the idea of introducing rounding rules.
Tel: 668 0965, 5697 9146
Press enquiries: [email protected]