The one and two-cent coins were initially introduced to ensure that the transition to the euro was not used as an excuse by retailers to heavily round up prices. read more
They are already phasing out the 1 cent Euro coin, and eventually the 2 cent Euro coin so we’ll be left with the 5 cent coin as the lowest value of the currency, it will just mean that prices will be rounded up to suit the currency arrangement. read more
However, due to the cost of maintaining a circulation of low value coins, by business and the mints, Belgium, Ireland, Finland and the Netherlands round prices to the nearest five cents (Swedish rounding) if paying by cash, while producing only a handful of those coins for collectors, rather than general circulation. read more
The 1 euro cent coin has a value of one hundredth of a euro and is composed of copper-covered steel. The coins of every Euro country have a common reverse and each has a country-specific obverse. The coin has been used since 2002 and was not redesigned in 2007 as was the case with the higher-value coins. read more