"Real" Money

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

Your original challenge allowed a planet-wide search. The modified
challenge limited the search to non-third-world countries.

As for the compliment, you are welcome. You are indeed clever, and a
good guy in my book, too!

James


I changed to non third world countries to give a non apples and oranges
comparison, I believe that India has a very low value coin that is
sometimes drilled to be used as a washer as a washer is more expensive to
buy than the face value of the low value coin.

I can understand the need for a very low value coin in third world
countries but not in one of the richest country on the planet the USA, it
just silly and a waste of taxpayers' money. Billy

As silliness goes, demand that the cent should exist is pretty much a
lightweight, and, if you want to talk in terms of waste of taxpayers'
money, hardly even registers on the radar, comparatively speaking.

James


You are correct of course but this is a coin NG so it is relevant.

I believe that GWII is rather expensive so why does the USA Government not
take a few simple steps to save a lot of money by dumping the one cent coin
and one dollar note? I know the answer of course, they are politicians and
have no common sense. Billy

[big snip]

As silliness goes, demand that the cent should exist is pretty much a
lightweight, and, if you want to talk in terms of waste of taxpayers'
money, hardly even registers on the radar, comparatively speaking.

James


You are correct of course but this is a coin NG so it is relevant.

I believe that GWII is rather expensive so why does the USA Government not
take a few simple steps to save a lot of money by dumping the one cent
coin and one dollar note? I know the answer of course, they are
politicians and have no common sense. Billy

What is GWII?

As far as our politicians are concerned, I'm going to guess that they are
aware of the tax savings that could be effected, but also that they are
aware of the likelihood and impact of public outcry. Even politicians have
to choose their battles.

James

On Mon, 29 Jan 2007 11:36:19 GMT, "note.boy"
wrote:

I can understand the need for a very low value coin in third world countries
but not in one of the richest country on the planet the USA, it just silly
and a waste of taxpayers' money. Billy

There are other reasons to have a coin than need,
and the reason the US may be as "rich" as you say is
because people saved those cent coins and either put
the money in a bank which was loaned to somebody
to go into business or build a house or buy a car.

For instance, my aunt never made over $2.00
an hour, worked 37 years, and left an estate worth
more than $250,000.

Even in the last few years before she died,
all coins went into a piggy bank, and when it got
full, they were rolled and deposited.

She attached no significance to the coins
or how they looked, except that 100 cents made
a dollar, 20 nickels made a dollar, 10 dimes
made a dollar, 4 quarters made a dollar, and
two halves made a dollar.

She also bought US Savings Bonds when
she had enough in the bank, and bonds bought
in the 1940s and 1950s became worth 10 times
cost when they were supposed to stop collecting
interest after 40 years.

Cents add up to dollars, and with enough
dollars, people think you are rich.

Coins are for use to make change and to
make transactions easier with completion on the
spot, without any silly rounding or fixing prices
to "almost" complete the transaction except
for the big chore of using cents.

The cent is worth more than the Japanese
Yen, and worth a hundred basic monetary units of
some countries in Asia.
The cent is the real money.

Joe Fischer

"Bruce Remick" wrote in message
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"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message
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"note.boy" wrote in message
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"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message
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"note.boy" wrote in message
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"Mr. Jaggers" lugburzman[at]yahoo[dot]com wrote in message
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"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

Your original challenge allowed a planet-wide search. The modified
challenge limited the search to non-third-world countries.

As for the compliment, you are welcome. You are indeed clever, and a
good guy in my book, too!

James


I changed to non third world countries to give a non apples and oranges
comparison, I believe that India has a very low value coin that is
sometimes drilled to be used as a washer as a washer is more expensive
to buy than the face value of the low value coin.

I can understand the need for a very low value coin in third world
countries but not in one of the richest country on the planet the USA,
it just silly and a waste of taxpayers' money. Billy

As silliness goes, demand that the cent should exist is pretty much a
lightweight, and, if you want to talk in terms of waste of taxpayers'
money, hardly even registers on the radar, comparatively speaking.

James

You're hitting it pretty much on the head, IMO. Way down the list of
priorities on the government's money waste list. Any cost savings by not
printing dollar bills would be diluted by the fact that we'd still be
printing six other denominations, and eliminating one of them wouldn't
silence the presses nor provide more money for pork pies. The only real
savings would come by not printing ANY currency. That may yet come in
some of our lifetimes.

Bruce



You obviously have NO idea of the percentage of total production of paper
notes in the USA that's taken up by printing the useless one dollar note so
your IMO should read IMOTCROTTOMHAIJALOHA, In My Opinion That Came Right
Off The Top Of My Head And Is Just A Load Of Hot Air.

Have a guess, it's one of these, 0%, 20%, 40%, 60%, 80% 100%. Two of the
choices were deliberately included to confuse you, can you tell which two?
So we are now looking for you to make three choices. The two deliberately
confusing choices and the correct % figure.

You don't half post a load of ignorant nonsense, I just been down to the
basement and held a discussion with a cardboard box and it made more sense
than you do. Billy

On Mon, 29 Jan 2007 11:38:58 GMT, "note.boy"
wrote:

The ò coin is not terribly common in circulation in the UK and know a lady
who saves all she gets, sometimes exchanging two ñ coins for one, and she
cashes them in at Christmas and holiday time. Billy

Right, the little old ladies saving and scrimping are
the real money dynamos.

Joe Fischer

"Bruce Remick" wrote in message
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"note.boy" wrote in message
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"Joe Fischer" wrote in message
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On Sat, 27 "Bruce Remick" wrote:

The public doesn't always choose the most efficient combinations of
bills
and coins. If they did, our 50 and $2 bill would be used more. They're
still available but people choose to use two quarters or two ones.
Bruce

I guess there are people who carry 100 and 50
dollar notes, but I don't know any.

The 50 is a useless denomination, the 20 is
the real workhorse, but I have started asking for all
5s when I get cash from the bank.
I don't get a lot of cash from the bank, for
two reasons, I pay for groceries with a credit card,
and I have a small hobby printing business that
I get cash from.

The clerk at short stop was swamped with
20s today, it is difficult for them to keep enough
5s and 10s.

In the real world here, $5 is a lot of money,
almost all fast food places have a $1 menu, and
there are stores where every single item is a dollar,
that couldn't be without China though.

There is a huge hostility against the US
world wide, with only 2 percent growth rate,
the economies of other countries can't keep up
even with 6 or 8 percent growth.

The number of cents that recirculate must
be huge, even with the number minted each year,
the only place I see all BU cents in registers is at
Walmart, Kroger and other big chains.

I found 3 rolls of 1994 BU halves I forgot
I had, and started spending them this week, and
everyone was grabbed and put away, they won't
circulate.

Apparently novelty is a factor in saving
coins, moreso than intrinsic value or numismatics.

Joe Fischer


The £2 coin is not terribly common in circulation in the UK and know a
lady who saves all she gets, sometimes exchanging two £1 coins for one,
and she cashes them in at Christmas and holiday time. Billy

When I went to the UK last October on vacation, the only £2 coin I
encountered the whole time was at the currency exchange at Dulles Airport
as I was getting ready to leave. Not a one in country. I do like their
£1 coins. I would think that a small thick coin like that would have a
better chance of being accepted here in the US than the ones we have to
choose from now.

Bruce





My first ever experience of spending USA money was at that airport, I bought
a frozen yoghurt.

I was there for just a few hours and spent most of that looking for any sign
of Mulder and Scully.

A small thick one dollar coin is definitely the way to go.

I probably see just 3 or 4 £2 coins in a week. Billy

"note.boy" wrote in message
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"Joe Fischer" wrote in message
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On Sun, 28 Jan 2007 20:04:54 GMT, "note.boy"
wrote:

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

You couldn't find one more backword either, I didn't think that you
would.

I wonder why more than half of US currency is
oversees, banks all over the world request dollars from
the New York Federal Reserve, they have a warehouse
with skids of currency stacked 10 or 15 meters high just
to provide currency to foreign banks on request.

Is it because it is so backward?

Frankly, the US coins are fine, the quarter is really
all that is needed for parking meters and most machines
here, and making exact change seems to be the fastest
and least troublesome way to do business.
Maybe if all Americans were liberals, they wouldn't
care if they got exact change or not.

It isn't likely we will do things just because others
think we should, making auto parts metric was a huge
mistake costing Americans billions, with no advantage,
it didn't help sell American cars overseas.

American cars don't sell overseas because we have corners in Europe and
American cars go round corners very badly, and the interior quality is
dreadful, and they use too much fuel, and most of them are very ugly.
Billy

Well, now, there's a generalization, if I ever saw one. And with just a
soupçon of condescension to boot.

Can you cite 1) statistics which enumerate the origins of all vehicles on
European highways, country by country, 2) market analyses which reflect the
motivations of the buyers and drivers of those vehicles, and 3) reports from
entities that exhaustively test, review, compare and contrast vehicles as to
their qualities, such as does Consumer's Union?

James

In article writes:
In article ,
says...
....
('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.

Not only Australian banks. It is also common in Europe.
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/

"Bruce Remick" wrote in message
news

"note.boy" wrote in message
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"Joe Fischer" wrote in message
...
On Sat, Padraic Brown wrote:

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

Well, mine (US near DC) for one.

That's the reason. :-) In the real world homes
do not have a media price of $500,000 or more (except
maybe in San Francisco, DC, and a few other places,
and money is tight, real tight, mostly because of the
price of gasoline.

It's not the price of gasoline that's causing the problem, if it was we
would all be destitute here in the UK, cars in the USA have very large
engines that burn a lot of it, that's the problem. If a USA motorist was
to buy a car that had twice the MPG then in effect their gasoline costs
would half.

The UK has better public transportation options than the US, and tries to
conserve gasoline by taxing the hell out of it and out of anyone who
insists on driving a car into London, for example. Those who really need
a car have little choice but to consider mileage first. There are indeed
a lot of big cars with big engines here in the US, compared with most
other countries. This may be due to the greater use of the car or SUV here
for long family trips on interstate highways. In many European countries,
there are convenient and traditional rail options for this kind of travel.
If we could buy a car here that gets twice the mileage and which would
serve all our other needs, many would.

Public transport in the UK is very expensive compared to the USA and Canada,
if more than one person is travelling going by car is cheaper even at 88p a
litre for petrol, and more confortable, more reliable, and faster. The UK
government treats motorists like a big fat cash cow.

Diesel engines are not popular in the USA and I don't know why as the MPG
for the heavy vehicles popular there would be greatly improved over petrol.


The average person earns $9 an hour if the
professionals are not included, which is hardly
enough to avoid becoming homeless.

Why should somebody who spends every
cent they have before the next payday worry about
"real money"?

Any attempt to change anything in an
economy that is 3 times the size of the next biggest
would be foolhardy,

In a word, euro, it caused no problems so why should the USA have a
problem with a minor change like dumping the one cent coin and one dollar
bill?

Probably because 99% of the US public doesn't see their cent and the
dollar as a problem. Walk in our shoes for a while if you can.


Do they not wonder why they have jars of one cent coins all over the place?



And a look in the foreign coin box at any flea
market or coin dealer shows just how easy it is for
coins to become worthless.

If they were indeed "worthless" why is the dealer offering to sell them,
have you never seen a USA coin in a junk box? Of course you have but
that doesn't mean that the US dollar is worthless does it.

Because he doesn't want to just throw them away, and there are always new
collectors who will pay a small price for hours of entertainment sorting
and cataloging minor coins from foreign countries. US coins in a US coin
dealers "junk" box? Well, we don't consider them junk, for one, unless
maybe they have been mutilated. What you *will* often find are circulated
obsolete US minor coins (Indian cents, Buffalo nickels, etc.) in a bargain
box.


A 1793 chain cent was recently auctioned in the UK for £9,200, it was
bought at a jumble sale in 1960 for very little, the seller at that time
must have presumed it was worthless, but they were wrong. Billy


Your point here?

Bruce


The point is that the presence of a country's coin in a dealer's junk box
has no bearing on the strenght or weakness of that country's currency.
Joe's opinion was that it had. The example of the 1793 cent is a good one.

Just ask if you any more difficulty following the flow of this thread and
I'll do what I can to assist. Billy

We still have a one penny stamp in the UK I think.

I get lists from some dealers who also deal in stamps and the envelope is
often covered in commemorative stamps up to 25 years old as they buy them
from "investors" at below face. Billy


Is there still a one cent stamp?

Yup.

http://shop.usps.com/webapp/wcs/stor...2913&langId=-1

James