"Real" Money

"e" wrote in message
. ..
In article , "Jeff R."
wrote:

1) Australia.

('cause I'd lose AUD$8 exchanging it for real spending money)

Anybody else?

i said country, not collective insanity.....(g)
why would you lose $8? excange charge?

Yup.

One of the reasons I like PayPal.

--
Jeff R.

On Sat, 27 Jan 2007 21:21:54 -0600, "A.E. Gelat"
wrote:

One point that it seems everybody has missed is the USE of the 1,5 and
10-cent coins. By themselves, they can buy nothing, but they are necessary
to make change.

Only because we don't round to the nearest nickel or dime. And lot of
the "use" seems to be from store to customer rather than from customer
to store. I'm not sure I'd like to see rounding to the nearest dime,
but to the nearest nickel wouldn't be too awful. Rounding is exactly
how those countries that have gotten rid of their pennies (and in some
cases nickels) go about things. It's not hard, we already round to the
nearest cent at the gasoline pump, and no one complains about not
having mil denominated coins to make change for the transaction!

Padraic


Tony

"Padraic Brown" wrote in message
.. .
On Sat, 27 Jan 2007 17:42:54 -0800, "Bruce Remick"
wrote:


"note.boy" wrote in message
...

"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message
...

"note.boy" wrote in message
...

wrote in message
ups.com...
"Real" money, meaning that the value of the coin is in the
metal, is gone now. Was the USA the last country to coin
real money? If not, which country carried on coinage after
LBJ eliminated silver coinage?

BTW, I do not count legal tender coins like the US $50
gold coin, as it is not expected to be circulated as a
Kennedy half dollar was.

GFH


I would not be surprised if the USA was the last country to coin
"real"
money as they have the most backward coin and papermoney on the
planet.

So, you've rigorously examined the coin and papermoney of all nations
on
the planet and come to this conclusion, eh?

Mr. Jaggers


Prove me wrong by naming a non third world country that has a more
backward coin and papermoney set up.

By whose standards (besides yours) is our monetary system "backward"?

Well, mine (US near DC) for one. A lot of other RCCers share this
assessment, witnessed by the countless "let's see how we can improve
the US's money set-up", "get rid of the penny/cent!" and "get rid of
the paper dollar" threads over the last decade at least.

Who else has ridiculously low face value coins and papermoney in
circulation similar to the one cent coin and the one dollar note?

The dollar bill has a ridiculously low face value?

When compared with the set-ups of most other countries in the world,
yes. Most countries' smallest valued note is 5.00, some probably
10.00. Also when one considers the buying power of a note, the $1 is
pretty small compared to how it used to be. Even in my lifetime, I've
seen what could be bought for a dollar in the late 1970s compared with
what _can't_ be bought for a dollar anymore. Or even two or three
dollars.

He also mentioned "coins" in there. The penny and nickel are
ridiculously low valued when compared with the prices of just about
anything in the USA. There's hardly anything of any size or content
that can be bought for a quarter -- how much less is the power of a
nickel or penny except in accumulation.

If it weren't for the rise in copper and nickel prices, those two
coins would continue on their rapid course towards irrelevance.

Regardless, if any other
countries use low value coins it's because they want to. Better not go
there if it bugs you.

I daresay the coins and notes themselves don't bug him. What seems to
be bugging him is what is bugging a lot of people: the nonsense and
primitivity of the present system!

The UK got rid of the 1/2p coin (roughly equal to the one cent coin) in
1984 and last issued the ten bob note (roughly equal to the one dollar
note) in 1967.

So what? They did so because they wanted to. I believe the UK still has
50p coins, two of which equate to a one pound coin. Why mint both?
People
like to use them, I guess. Same here.

Not quite like here. That 50p coin _replaced_ an older, increasingly
lower valued note. That was the whole point!

The USA is 23 and 40 years behind the UK.

Wow! Did you get this from a US or a UK economist?

A simple calculator will do.

The attractiveness of current USA papermoney from a collecting point of
view is a million miles behind Scottish notes. We have very attractive
issues in a variety of designs/colours and sizes from three different
banks that change fairly regularly. Billy

Personally, I kind of like having all my bills the same size so none get
lost in between the others and I don't have to keep them arranged by size
in
my wallet.

Personally I agree with this sentiment, though I tend to shove the
things into my pocket rather than neatly folding them in my wallet.

I'm curious, though: do you have a trifold wallet?

Never in 60 years have I confused one denomination with another.

Good for you that your eyes have not yet gone blind! Not that there
are many blind people when compared to the population as a whole, but
differing sizes do help them live a little more independently. And
what's more American than livining an independent lifestyle?

I think our bills look just fine, too, pretty much the way our money has
looked for well over half a century.

Yeah. They were uninspired in 1928, too! If we could see some truly
amazing designs, I wouldn't care if they were all green and the same
size!

Gives consumers confidence and
comfort.

This is true. The good old greenbacks have a good reputation worldwide
in part because of their distinctive sameness, both across
denominations and through time.

Frequent currency design changes can create confusion.

It can. But Americans had no trouble with all the design changes that
were witnessed in earlier decades.

Padraic

Any time I can buy $1.00 worth of goods with $1.00 worth of the coins in
my
pocket, that's "real money" to me. I couldn't care less what the coins
are
made of.

Bruce

Bruce


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On Sat, 27 Jan 2007 21:14:27 -0600, "A.E. Gelat"
wrote:

Here's the solution. Stop printing $1 notes,and flood the market with a
SMALLER reasonably-sized coin, something just larger than a nickel, with a
milled edge. The one-dollar bills in circulation will slowly wear out and
eventually disappear

I.e., exactly what the US has done, apart from the milled edge and
that oh-so-risky move of stopping $1 note production!

Padraic.


Tony.

wrote in message
ups.com...


On Jan 27, 4:22 pm, "note.boy" wrote:
"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in
...

Mr. JaggersProve me wrong by naming a non third world country that has
a more backward
coin and papermoney set up.

Who else has ridiculously low face value coins and papermoney in
circulation
similar to the one cent coin and the one dollar note?

The UK got rid of the 1/2p coin (roughly equal to the one cent coin) in
1984
and last issued the ten bob note (roughly equal to the one dollar note)
in
1967.

The USA is 23 and 40 years behind the UK.

The attractiveness of current USA papermoney from a collecting point of
view
is a million miles behind Scottish notes. We have very attractive issues
in
a variety of designs/colours and sizes from three different banks that
change fairly regularly.

I agree with all of these points, but the USA (except for gold coins
minted prior to
1933) has never demonitized any of its currency. It is all still
good! The USA is
understandably reluctant to break this policy. How to introduce the US
$ 1.-
coin without demontizing the US$ 1.- bill. That is the problem no one
has solved.

Can you?

GFH




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In article ,
says...

"e" wrote in message
. ..
In article , "Jeff R."
wrote:

1) Australia.

('cause I'd lose AUD$8 exchanging it for real spending money)

Anybody else?

i said country, not collective insanity.....(g)
why would you lose $8? excange charge?


Yup.


Actually, my understanding is that Australian banks also charge
obnoxious fees for depositing international cheques.

I don't know if it is really a risk issue. Since the bank can
place a hold on that amount until the cheque clears, and can take
the money back from the account if there is a later dispute.

My guess is that they do it because they can. And all the other
(small number) Australian banks do, too, so no competition on
that angle.


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Sibirskmoneta wrote:

but so far we are agreeing to pass on this years lousy selection of
commems

He is referring to this one, which was issued earlier this month:

50 Years State of Saarland http://tinylink.com/?wvyukbVOG5
http://www.deutsche-sammlermuenzen.d...muenzen/910029
SG_gr.jpg And yes, that one is poorly designed in my opinion. The
other 2007 designs (Treaty of Rome, Wilhelm Busch, Deutsche Bundesbank,
Elizabeth of Thuringia) are partly ho-hum, partly neat.

As I mentioned, all these silver coins are available at face value. But
in DE there are no silver circulation coins; that phase actually ended
in 1975. You can _get_ collector coins that contain silver from banks
(or post offices in NL), and some stores even accept them g.

However, you hardly ever come across them unless you actively do
something to get any. Also, those silver pieces are legal tender in the
issuing member state only. Every "regular" euro coin (circulation piece
or ¤2 commem) is good for payments anywhere in Euroland - but if I
accidentally received a Dutch ¤5 collector coin in change in NL, for
example, that would not be legal tender in DE and vice versa.

This weird system works because "collector coins" are basically
considered to be just that - coins made for collectors, not for
circulation. I get them at face value here, so I certainly don't mind
spending 10 euro on a ¤10 coin g, but the times of silver circulation
coins are gone.

Christian

Bruce Remick wrote:

We've grown to like them all the same size. Easier to count and spot the
denomination on the corner.

Guess that first sentence above is the key here. You are used to all
notes having the same size and basically the same color. So you
"automatically" focus on other means of differentiation, like the big 1,
5, etc. or the president depicted maybe.

For me (not living in the US) it is fairly difficult to "count and spot"
those USD notes very quickly. On the other hand, I am used to different
denominations having different colors and sizes. Easier to count and
spot, y'know. ;-)

I will say that on my last trip to the UK, after a few days I go used to
arranging the bills according to size in my (too small) wallet.

We've grown to --- see, that kind of arranging is what I always do when
I'm in the US, but never really do when here in Euroland. Simply because
here (or in Switzerland, for example) I can easily tell the different
notes apart. In the US, I have to check every single note and find out
how much it represents, so I sort them.

Christian

"Christian Feldhaus" wrote in message
d...
Bruce Remick wrote:

We've grown to like them all the same size. Easier to count and spot the
denomination on the corner.

Guess that first sentence above is the key here. You are used to all
notes having the same size and basically the same color. So you
"automatically" focus on other means of differentiation, like the big 1,
5, etc. or the president depicted maybe.

For me (not living in the US) it is fairly difficult to "count and spot"
those USD notes very quickly. On the other hand, I am used to different
denominations having different colors and sizes. Easier to count and
spot, y'know. ;-)

I will say that on my last trip to the UK, after a few days I go used to
arranging the bills according to size in my (too small) wallet.

We've grown to --- see, that kind of arranging is what I always do when
I'm in the US, but never really do when here in Euroland. Simply because
here (or in Switzerland, for example) I can easily tell the different
notes apart. In the US, I have to check every single note and find out
how much it represents, so I sort them.

Christian

I would think that it would take tourists about the same amount of time to
learn the various denominations and designs of Swiss notes in circulation
(and mentally convert the values to their own currency) as it would to
distinguish among the various denominations of US notes in circulation,
designs notwithstanding. Natives and frequent travelers would do this by
reflex and think nothing of it, although they, too, would unconsciously be
checking every single note. Even with different sized notes, I doubt I'd
trust myself to pull the right combination of bills out of my wallet without
glancing at them first. If I'm wrong, I don't want to hear it.

Bruce

The solution to that is really simple you do not have to demontize the
bill you just stop making new ones, the life of a bill in circulation
is a few years after that they get worn out and kept by the bank to be
disposed of, and it's costly to keep replacing them, it was one reason
out of many that Canada went to the one dollar coin/loonie and the two
dollar bi metalic coin the twoonie and people got used to those fast,
no complaints about not having a dollar or two dollar bill anymore, I
would even venture to say we have an entire generation now that has
never even seen one.

$ 1.-
coin without demontizing the US$ 1.- bill. That is the problem no
one
has solved.

Can you?

On Sat, 27 Jan 2007 21:14:27 -0600, A.E. Gelat wrote:
Here's the solution. Stop printing $1 notes,and flood the market with a
SMALLER reasonably-sized coin, something just larger than a nickel, with a
milled edge. The one-dollar bills in circulation will slowly wear out and
eventually disappear

The English one-pound coin is a great example. About the size of a
nickel, double-thick, milled edge, and brass in color. Immediately
distinguishable from anything else in your pocket. The problem with the
US dollar coin is that they keep re-introducing new versions of it, with
the same fundamental design flaw - size. But they want it to work in
vending machines. So they keep releasing a design which is backward
compatible with the very problem that makes it fatally flawed in the
first place.

Hm. Kind of like Windows, if you think about it.

"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message
...

"note.boy" wrote in message
...

"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message
...

"note.boy" wrote in message
...

wrote in message
ups.com...
"Real" money, meaning that the value of the coin is in the
metal, is gone now. Was the USA the last country to coin
real money? If not, which country carried on coinage after
LBJ eliminated silver coinage?

BTW, I do not count legal tender coins like the US $50
gold coin, as it is not expected to be circulated as a
Kennedy half dollar was.

GFH


I would not be surprised if the USA was the last country to coin "real"
money as they have the most backward coin and papermoney on the planet.

So, you've rigorously examined the coin and papermoney of all nations on
the planet and come to this conclusion, eh?

Mr. Jaggers


Prove me wrong by naming a non third world country that has a more
backward coin and papermoney set up.

Oh, I see, now that I've called your bluff, you change the parameters.
Clever move.

Mr. J.


What bluff and what parameters were changed?

I thank you for calling me clever as that's never happened to me before.
Billy