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Old 09-28-2011, 03:56 PM
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jharding58 jharding58 is offline
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Join Date: Apr 2007
Location: Kennesaw, GA
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The objection to low denomination coins is a curiously American trait. It makes no sense to produce at taxpayer expense a currency which either holds less value than the overhead to produce, or is unusable within a period of that renders a banknote viable as the currency. Single enumerated coins work perfectly well in most countries where the single unit maintains value. Simply put the number of things whcih can be purchased with a single dollar is irrelevant - roughtly akin to fuel being quoted to a 10th of a penny. Which has always been rounded up.

Having lived through decimalisation in the UK, price points will be altered to match the availability of currency in denominations that drive to the least amount of change. Having lived when there where farthings and when certain confectionery could be purchased for a ha'penny (not a one half penny, but an old school "one a penny two a penny" ha'penny) the elimination of the denominations below a single penny, and indeed the thrupenny bit made perfect sense. In contemporary pricing the dollar coin would make more sense to produce and to use than would paper currency, and provide a more durable currency. For those concerned about the jingling of coins I recall a six pound coin carrier made available with the introduction of the Pound Sterling coin. Silicon rectangle about the size of a credit card which would retain the coins until needed.

Now to find the probic vent!
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