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.

Thanks. BTW, I'm not that new. I've posted here before with
different e-mail addresses before, but I usually used the same name.

>
> 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.
>
> --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 ... Every coin-op vending machine in the country takes ... > small denominations, and the design and introduction of new larger ...
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  • 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?
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