There are more and more five-centime coins in Switzerland. There are currently 25 percent more in circulation than there were 10 years ago. That’s because many of them stay at people’s homes. An overview of the small, golden coin.
How many five-rappen coins are there? There are currently 1.34 billion five-centimes coins in circulation in Switzerland. No other coin has seen such a significant increase in number – so it is a special phenomenon. The massive increase is astonishing in the age of cashless payments.
Why are there more and more five-rappen coins? Many five-rappen coins have disappeared, are lost and forgotten. They lie somewhere in drawers or collector’s boxes. Tourists take them with them as souvenirs. Coins are usually returned to the money cycle by consumers, and are brought back to the shop. But the five-rappen coin is impractical and doesn’t fit in any vending machine, so the coin often ends up lying around somewhere – and new ones have to be put into circulation.
Who decides whether to abolish a coin? The Federal Council has the final say; it is a political decision. For example, 18 years ago the Federal Council abolished the Einräppler.
Is the abolition of the five-rappen coin currently a political issue? Not at the moment, but it is only a matter of time before politicians will address it again. The last time the abolition of the five-rappen coin was discussed was 10 years ago, when a motion was made in the National Council. Even then, the camps were divided. The umbrella business association Economiesuisse and the SBB spoke out in favor of the abolition years ago. The retail trade and consumer protection organizations in particular opposed the abolition at the time. Since then, cashless payment transactions have increased massively – the world is changing.
How important is cash in everyday life? Its importance is decreasing. According to a survey by the National Bank, cash was still used for 70 percent of everyday transactions in 2017. The proportion has now halved, with private individuals now using cash for 36 percent of everyday payments.
Who produces the coins in Switzerland? This is the Swissmint Federal Mint in Berne – a federal company. The quantity of coins to be produced is determined by the National Bank.
Disappearing again and again in the depths of many a wallet: the five-rappen coin.
KEYSTONE/Walter Bieri
How expensive is it to produce the five-rappen coin? In the past two years, production has been more expensive than the face value of the coin. Last year, the cost was 6.9 cents per five-rappen coin – this year it is 4.8 cents per coin. Production costs fluctuate. The prices for the metals are crucial, but so are the general costs for personnel and operations. The quantity is also crucial. If many coins are produced, the unit costs decrease.
How many coins will be produced this year? This year, 26 million five-rappen coins will be produced, which is more than twice as many as in the previous year – but in a long-term comparison, production is declining.
How long will the five-rappen coin be available? Probably for a long time, although the five-rappen coin is steadily losing importance. Politicians are reacting very slowly and, what’s more, part of the retail trade is still resisting its abolition.