Makes no cents

SANKA PRICE,

Added 06 February 2014

laluvaswanichamberofcommerce

FOR BARBADOS, the dollars aren’t adding up when it comes to making cents. And so after 41 years of production, the Central Bank of Barbados is set to withdraw the copper-plated zinc one-cent coin from circulation later this year. The measure is thought to be based primarily on the economics of producing and using cents. That is, it costs more to produce them than they really can buy. The move comes after the bank announced last February that a national one-cent collection drive for charity had brought in 10.9 million cents.

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