[lugg]

Penny payments will never* be viable.

* Never say never. Basically I don't think it could possibly be viable because it would require the total cost of transaction to be less than pennies. That includes the shopkeepers time to manage the automated store, the electricity used in the transaction, and a bunch of other non zero components.

Hell even transactions with real pennies today are almost a net loss. We eradicated 5c coins in NZ because they cost something like 6c to make.

And to be clear I understand you mean micropayments in general and maybe it is something possible im just not yet convinced the electricity costs will allow it unless it's subsidized in an unsustainable way.

[apetresc]

> We eradicated 5c coins in NZ because they cost something like 6c to make.

Why would that matter? A 5c coin is spent thousands, millions of times. Why would there need to be any connection at all between how much it costs to make the coin and the value that coin represents in a transaction?

[lugg]

I think it was actually the cost of the metal, i.e. the metal was worth more than the denoted value.

There were other reasons like inflation making 5c coins largely irrelevant (we also had 1, and 2c coins phased out years earlier) (also 1nzd=0.5usd at that time)

NZ has also been largely cashless for at least 20 years now. (Link below has some interesting info/graphs)

https://www.paymentsnz.co.nz/resources/articles/two-sides-of...

I think the only reason this happening was even a big deal at the time was because they replaced all coins at the same time with much smaller, lighter and cheaper versions. I.e. it wasn't a big deal at all but rather the swap over was.

[Expez]

If the extra cost is labor it's fine, but not if it's material cost. People have been know to melt down coins and sell the metal when the intrinsic value of the coin exceeds its face value. This practice is illegal most places, but avoiding the situation altogether is probably better!

[icedbergs1]

Possibly the bullion value trending in such a way people might be tempted to start scrapping them in the foreseeable future :)