Every year nearly 1.5 million euros ($1.7 million) is fished out of the nearly 300 year-old famous landmark. It is traditionally given to a Catholic charity to help the destitute, the BBC reported on Monday.
The Catholic charity Caritas has said the loss of income will hit the poor.
"I still hope it will not be final."
The newspaper ran an article in its Saturday edition, headlined "Money taken from the poorest".
City councillors have approved the change and it is due to take place in April.
The tradition of throwing coins was made famous by American singer and actor Frank Sinatra's "Three Coins in the Fountain" in the 1954 romantic comedy of the same name.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)