Redditors are raging about ditching thank-you coins and awards for something 'more valuable'

• Reddit is ditching coins and awards and some users are not happy.
• The company announced on Thursday it planned to phase out Reddit coins and awards.

Reddit has managed to upset its users – again.

The company, which is still dealing with the fallout from its last controversial decision, announced on Thursday it planned to phase out coins and awards.

Reddit awards are given by users and show up as icons next to posts. One of the best-known is the "Reddit Gold" award that appears as a gold medal with a star. Users need to buy coins to purchase and give out the awards.

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Redditors can no longer buy coins. Although existing coins can still be used for the award system, the company plans to phase them out by September 12, according to a post from a Reddit employee on the company's product team.

The employee said via a post: "We are reworking how great content and contributions are rewarded on Reddit. As part of this, we made a decision to sunset coins (including Community coins for moderators) and awards (including Medals, Premium Awards, and Community Awards), which also impacts some existing Reddit Premium perks."

Redditors, however, weren't impressed with the news, and many took to the comment section to vent their frustrations.

"God that will literally kill Reddit," one user said in response to the post.

Another user piled on, commenting: "Jesus, how do they always manage to get everything exactly wrong?"

Other users appeared to take issue with the lack of clarity around how coins and awards will be replaced. The post clarified that the new system will be "more valuable to the community," adding that the company would reveal more in the coming months.

One Redditor replied: "Killing features without replacements ready, yep sounds like Reddit to me."

The change also affects Reddit Premium users as the company will stop offering them a monthly coin drip and premium awards from September 12.