Confession Time – I am a Hoarder

FAO: The Central Bank of Ireland

Dear Govenor,

I have a confession to make. I am a coin hoarder.

I simply hate carrying around all those annoying little 1 cent coins and 2 cents and in particular those 5 cent coins. So instead I hoard them in my M&S Minibites tub, which is sufficiently big enough to hoard about a year’s worth of coins and spare change in 1 cent, 2 cent, 5 cent, 10 cent and 20 cent coins – trust me. 

However I do feel guilty about hoarding such an amount of change in the mutual trust of Minibites and not returning it for circulation into the wider economy. So you will be glad to know that next week I will be lodging the contents of my M&S Minibites tub into my bank account, and thus releasing it back into economy, after I pay some bills off with what little there is. But I think you will agree Govener, part of something is always better than none of anything. 

I would of course ordinarily post this lodgement to the Central Bank and suggest that you may use this to clear down the National debt, however I figure the 21.5% in VAT you will get with every transaction each euro makes, will make this a much more attractive offer. Coupled with a slightly reduced pay-packet in May, using this money to try and increase the velocity of money while reducing my debts can only be a good thing.

I cannot guarantee I will be doing this on a semi-regular basis because it is tedium bagging 1 cent coins into bundles of 100, but I will try. 

Yours intrusively, 

JH