Re: Are US denominations efficient?

Michael G. Koerner wrote:
>
> Dave Allured wrote:
> > ...
> > 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.
>
> The only problem there is that the 10¢ and 25¢ denominations are incompatible
> with each other without a 5¢ coin. With only 10¢ and 25¢ coins, it is
> difficult or impossible to do many intermediate amounts, ie 15¢, 55¢, 65¢,
> 90¢, etc.

No, there are only two amounts that can't be paid straight with a few
dimes and quarters: 5c, and 15c. 55c is of course 1 quarter and 3
dimes. $1.05 is 3 quarters and 3 dimes. And so on.

5c and 15c totals are rare these days, hardly worth discussing. But
they can easily be handled in any store situation by returning 1 quarter
for 3 or 4 dimes. If the customer has only dimes, then a single quarter
in the cash drawer will allow the customer to buy anything in 5c
increments that they can afford.

Modern vending machines could do the same, but there is almost nothing
vending for less than 25c any more, so it's rather moot.

I say, people would get used to it, easily.

> If the 5¢ is dropped, the 10¢ must be dropped at the same time, making 25¢ the
> smallest coin.

It wouldn't bother me to drop the dime either. But the difference would
be rounding to 25c, rather than 5c. Amelicans need to make that first
terrifying step to 5c rounding.

> As for the 5¢ and 10¢ coins, I have been treating them like 'pennies' over the
> past few years, too (tossing them into the jar at the end of the day), as
> there is really no practical reason to carry them anymore.

This really goes to my point that 5c coins are extraneous and could be
abolished with no consequenses other than lots of whining.

> I still carry a
> few 25¢ coins as they are usefull for things such as parking meters and
> newspaper boxes.
>
> I would also welcome dropping $1 FRNs, along with interducing a new $2 coin
> and a reintroduced $5 coin (dropping both denominated FRNs).
>
> --
> ___________________________________________ ____ _______________
> Regards, | |\ ____
> | | | | |\
> Michael G. Koerner May they | | | | | | rise again!
> Appleton, Wisconsin USA | | | | | |
> ___________________________________________ | | | | | | _______________
.

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