The end of 1 and 2 cent coins?

One and two cent coins could soon become a thing of the past.

The European Commission is looking at ways to abolish the coins or reduce the cost involved in producing them.

Since 200 it has cost 1.4 billion euro to make the coins which now have negligible value.

Alicia O'Rourke of the EU office in Dublin says the Commission is currently considering four options on the matter.

"The Commission has come up with 4 possible options for these little coins; and the four options are: leave things as they are - so the status quo, to make them cheaper to produce, or to take out of circulation quickly, or to gradually phase them out of circulation" he added.