Why aren’t 1 or 5 cent coins accepted in supermarkets and stores?

In recent years, the 1 and 5 cent coins have gradually disappeared from the monetary flow in Peru, a phenomenon that has caused doubts and speculation among consumers and merchants alike. Gone are the days when these small coins were an essential part of everyday transactions, so rounding has become a common and even necessary practice.

The decision to remove these coins from the market was neither sudden nor arbitrary. It responded to a set of economic and practical factors that reflect the changing dynamics of the national economy. This monetary adjustment, in addition to simplifying transactions, aligns with a global trend towards minimizing the use of cash, driven by the growing preference for digital payments and operational efficiency.

Why did 1 and 5 cent coins stop circulating?

The Central Reserve Bank of Peru (BCR) made the decision to withdraw the 1 and 5 cent coins mainly due to their low use in daily transactions, which did not justify the cost of their production and distribution. The measure, implemented gradually since 2011 for cents and more emphatically in 2018, sought to optimize cash management in the country and reduce operating costs associated with these denominations.

Rounding prices to the nearest cent was established to facilitate transactions and eliminate the complications that arose when handling these small denominations. Despite initial resistance, this practice has proven to be beneficial for both consumers and merchants, simplifying daily operations and fostering a more agile shopping environment.

What is the value of the 5 cent coin among collectors?

Although 5 cent coins have lost their place in the cash register, their value among collectors can be considerable, especially for those pieces in excellent condition or that are part of limited editions. These coins not only represent a piece of Peru’s monetary history, but also offer a window into the evolution of the country’s economy and culture.

The value of a 5 cent coin can vary widely depending on its rarity, condition and interest in the numismatic market. Some of these coins can reach significant prices, becoming true treasures for numismatic fans and collectors who appreciate their historical significance and uniqueness within the Peruvian monetary series.

How much is the 5 cent coin worth on Mercado Libre and Ebay?

According to the official website of Free marketthe 5 cent coin currently has two prices:

• 0.05 coin (year 2014): S/100
• 0.05 coin with Chávez’s signature (year 1992): S/50
• 0.05 coin (2011): S/20.

For its part, on the virtual store platform ebaythe cost of the aforementioned article is quoted as follows:

• 0.05 coin (year 2012): S/29.36
• 0.05 coin (2011): S/11.07
• 0.05 coin (year 2007): S/22
• 0.05 coin (year 1992): S/43.81