Re: Are US denominations efficient?


Dave Allured wrote:
> Welcome Newcomer. Coinage reform is an eternal axe-grinding topic here
> on RCC. If you are that interested, try searching Google Groups for old
> threads on the topic.
>
> There is a practical advantage to the US 25 cent coin that outweighs
> everything else. Every coin-op vending machine in the country takes
> them. A 20 cent coin is theoretically more efficient for cashiers, but
> retooling machines would be prohibitive. Also, everyone is used to
> quarters. IMO the real reform issues are simply how and when to retire
> small denominations, and the design and introduction of new larger
> denominations.
>
> My own slant is that the US is decades overdue on both of these. I
> favor transitioning to a 4 coin system as fast as possible: 10c, 25c,
> $1, and $5. Dump the 1c, 5c, 50c, and $1 and $2 notes immediately.

I think if you keep both the 10c and 25c, the 5c is also
necessary. What do you do if something is priced 15c? Yes, I know, pay
25c and receive 10c in change. What if you only have two 10c coins and
no 25c coins on you?

To abolish the 5c, the 25c should also go and be replaced w/ a 20c
or the 50c should be pushed. As you said, that is unlikely.

Though I doubt if the cost of retooling vending machines is truly
prohibitive. In other countries it has been done frequenly, in some
cases as often as every few years (not that I'm advocating that
frequent a change in US coinage).

>
> --Dave
>
> John Charles Wilson wrote:
> >
> > While the US and Canadian coin denominations are 1, 5, 10, 25, 50
> > cents and 1 dollar (and 2 dollars in Canada), I notice most other
> > industrialized countries use 1, 2, 5, 10, 20, 50 cents, pence, etc. and
> > 1 and 2 dollars, pounds, euros, etc.
> >
> > My question is: which system is more efficent in changemaking?
> > Does a 2 cent coin really make a difference? Is there an advantage to a
> > 20 cent coin as opposed to a 25 cent coin?
> >
> > The former Soviet denominations were weird: 1, 2, 3, 5, 10, 15,
> > 20, and 50 kopecks and 1 rouble. Were there any specific advantages to
> > 3 and 15 kopeck coins? I am aware that vending machines in the USSR
> > often only accepted one denomination. A 3 kopeck soda machine only took
> > 3-kopeck coins. A 2 and a 1 or 3 one-kopeck coins wouldn't work. Ditto
> > with the 2 kopeck pay phones for local calls and the 15 kopeck long
> > distance phones (yes, they were seperate *phones*!) and the 5 kopeck
> > subway turnstiles....

.

Relevant Pages

  • Re: Are US denominations efficient?
    ... Coinage reform is an eternal axe-grinding topic here ... > There is a practical advantage to the US 25 cent coin that outweighs ... > small denominations, and the design and introduction of new larger ...
    (rec.collecting.coins)
  • Re: Are US denominations efficient?
    ... Coinage reform is an eternal axe-grinding topic here ... > There is a practical advantage to the US 25 cent coin that outweighs ... Every coin-op vending machine in the country takes ... > small denominations, and the design and introduction of new larger ...
    (rec.collecting.coins)
  • Re: Are US denominations efficient?
    ... Coinage reform is an eternal axe-grinding topic here ... There is a practical advantage to the US 25 cent coin that outweighs ... Every coin-op vending machine in the country takes ... A 3 kopeck soda machine only took ...
    (rec.collecting.coins)
  • Re: How do I approach my currency revamp issues?
    ... than the reintroduction of high denomination notes or the ... Congress will see high denomination notes as being used ... size of the 50c coin would make it ideal for semi-circulating ... The vending machine issue is also important because the introduction ...
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  • Re: Does this court ruling for the redesign of U.S. currency for the blind finally mean...
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