View Poll Results: What would you think about coins below the dollar?

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  • Just keep the quarter

    1 11.11%
  • Ditch them all; round up to the closest dollar.

    0 0%
  • Keep it this way; it is too early to do something.

    5 55.56%
  • Move over, nickels and pennies!

    3 33.33%
  • Should we have a redenomination sooner or later?

    0 0%
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Thread: The story about pocket changes

  1. #1
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    The story about pocket changes

    I didn't think of starting an individual trend about pocket changes, but I notice that I have touched a "sensitive part" of somebody
    in relatively poor economic situation.
    Due to fairly substantial inflation, pocket changes lose their values quite rapidly.
    Before the reign of the cell phones, pocket changes can be used for paid phones.
    Today, we are more likely to talk about using these in the various dollar stores.
    It was 100 years when penny could buy something; currently, we cannot do so anymore.
    So, what should we do about pocket changes in the near future?

  2. #2
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    Well, I save mine and take it to the 'coinstar' machine at a local grocery store. It will count it up and give you a voucher for cash (in bills...), or you can use it to buy groceries, or you can donate it.

  3. #3
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    It hasn't quite been 100 years since a penny could buy something. I used to buy penny candy. Some pieces were two for a penny.

    I rarely use cash now. Maybe coins will fade away and not have to be dealt with.

  4. #4
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    Quote Originally Posted by Chuck View Post
    I rarely use cash now. Maybe coins will fade away and not have to be dealt with.
    Yeah, much as I dread it, I don't think the poll includes the realistic solution: the disappearance of money entirely--within ten years

  5. #5
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    Smallest bill should be $10.
    Coins: $5, $1, 50 cents, 10 cents.
    No nickels or pennies needed or allowed.

  6. #6
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    All the arguments against given in the Trivial Stuff thread still apply.

    To the well-off, spare change is a trivial inconvenience. To most poor people, it's a nontrivial factor in their limited finances. Life is hard enough when you're broke, and eliminating pocket change would make their lives harder.
    "I'm planning to live forever. So far, that's working perfectly." Steven Wright

  7. #7
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    Quote Originally Posted by grapes View Post
    Yeah, much as I dread it, I don't think the poll includes the realistic solution: the disappearance of money entirely--within ten years
    I don't think this is quite likely YET, though.

    Quote Originally Posted by Noclevername
    All the arguments against given in the Trivial Stuff thread still apply.

    To the well-off, spare change is a trivial inconvenience. To most poor people, it's a nontrivial factor in their limited finances. Life is hard enough when you're broke, and eliminating pocket change would make their lives harder.
    Do you remember the average shopkeepers and cashiers? Handling spare change with many people in line (even 10-20 people in line) is a pain.

  8. #8
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    Quote Originally Posted by Inclusa View Post
    Before the reign of the cell phones, pocket changes can be used for paid phones....

    Just FYI, pocket change is already plural, referring to any number of coins (that will fit in your pocket).
    Everyone is entitled to his own opinion, but not his own facts.

  9. #9
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    A general warning.

    This is potentially a political topic; we need to avoid any political discussion.
    At night the stars put on a show for free (Carole King)

    All moderation in purple - The rules

  10. #10
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    Canada has gotten rid of the penny, which I think makes some sense. It was kind of neat on our recent trip when all the cash exchanges involved rounding to the nickel. I've mostly ambivalent about $1 coins, and I found the $2 Canadian "Toonie" a little cumbersome (which I guess is the point - you're probably going to spend it faster to get it out of your pocket?).

    CJSF
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  11. #11
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    I have to agree with Noclevername, too, though. While I'm not nearly destitute, we tend to live payday-to-payday with not much in savings (not by choice). I save my change because I know if we have a big unexpected event (big car repair, home A/C dies, etc.) then we're going to get real close to a zero balance until payday. You'd be surprised how nice it is to have a some change around to get a cheap burrito or hamburger from a fast-food place. Sure, it's not usually the best thing to eat, but it's better than passing out at work when the waffle or cereal fumes run out.

    CJSF
    "I like the stories
    About angels, unicorns and elves
    Now I like those stories
    As much as anybody else
    But when I'm seeking knowledge
    Either simple or abstract
    The facts are with science"

    -They Might Be Giants, "Science Is Real"


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  12. #12
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    Quote Originally Posted by grapes View Post
    Yeah, much as I dread it, I don't think the poll includes the realistic solution: the disappearance of money entirely--within ten years
    Do you mean money, or do you mean cash?

    I'd make a bet with you on that ten year term, but I'm not sure what I'd pay you with if you win.
    Sometimes you win, sometimes you learn

  13. #13
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    Quote Originally Posted by Inclusa View Post
    Do you remember the average shopkeepers and cashiers? Handling spare change with many people in line (even 10-20 people in line) is a pain.

    So you think their pain is greater than those who can barely afford to buy food?
    "I'm planning to live forever. So far, that's working perfectly." Steven Wright

  14. #14
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    Quote Originally Posted by redshifter View Post
    Well, I save mine and take it to the 'coinstar' machine at a local grocery store. It will count it up and give you a voucher for cash (in bills...), or you can use it to buy groceries, or you can donate it.
    I'll bet that "CoinStar" would like to ban us.

    Of course, we collect loose change, but pick out the quarters (our son needs them for the coin-op washers/dryers at his apartment complex) and the dimes (for emergencies -- they don't take up much space). Therefore, anything we haul to the grocery store to convert is purely nickels and pennies. The machine grinds away and we get a voucher for, say, $2.17.

  15. #15
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    My credit union has a machine that will do it for you. Yeah, you have to stand in line and see a teller, but it's free.

    Yes. The merchant I work for at ren faire includes tax in all his prices, because it's easier than dealing with small change when you don't have a cash register. But frankly, my friends who own a small business in the mall need every penny about as much as I do. Maybe, with the number of transactions they run, it works out with the rounding. But I've never been comfortable with everyone's blithe assurances that, no, seriously, everything works out fine. I'll admit I wouldn't necessarily understand the numbers if I saw them, but I wish someone who did understand them could look them over and let me know.

    Oh, and the person I can think of who died while living off the land did so in Alaska, not Canada, and did so during one of the most fertile times of year. He didn't do his research first, and I've read suggestions that it was just about a suicide.
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  16. #16
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    Quote Originally Posted by SeanF View Post
    Do you mean money, or do you mean cash?

    I'd make a bet with you on that ten year term, but I'm not sure what I'd pay you with if you win.
    Yeah, cash, or currency.

    Maybe the ten year deadline is unrealistic...but I bet paper gets phased out with coin almost simultaneously

  17. #17
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    It's going to be a lot more than ten years. For one thing, there are all those low-income people. For another, it would have to be a piecemeal affair, because each country would do it individually. I, for one, would certainly prefer to hear how it went for all members of a society that went cashless before being willing to go cashless myself.
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    "Now everyone was giving her that kind of look UFOlogists get when they suddenly say, 'Hey, if you shade your eyes you can see it is just a flock of geese after all.'"

    "You can't erase icing."

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  18. #18
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    It seems to be gradually happening in Japan, but I'm not sure how fast and how far it will go. Debit cards are very popular, and you can use them in convenience stores so there are people who just put money into the card and use it.
    As above, so below

  19. #19
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    Quote Originally Posted by Jens View Post
    It seems to be gradually happening in Japan, but I'm not sure how fast and how far it will go. Debit cards are very popular, and you can use them in convenience stores so there are people who just put money into the card and use it.
    It is gradually happening in Canada, but many cash transactions are still being done.
    (Debits and cash only are quite common.)

  20. #20
    Most of paying transaction is through credit card though I use both cash and card. Although, I still keep coins.

  21. #21
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    In Canada the penny has been gone since 2012; no big deal. The nickel is going next; again maybe no big deal. Keep the dime up to the twoonie
    ; we have and use 1 and 2 dollar coins in Canada. The twoonie is the two dollar coin; the loonie is the dollar coin (it has a loon on it) and the twoonie has a polar bear. Also, I think a five dollar coin is in our future, (I hope they call it the goonie ;-). Seriously though; cash needs to go eventually. I predict cashless by 2030ish.
    Last edited by banquo's_bumble_puppy; 2015-Nov-27 at 09:17 AM. Reason: spelling etc

  22. #22
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    I don't know when we will go cashless, but I see a minor setback that has recently appeared.

    I have a card with a chip that creates a user experience that is less than optimal. The transaction now takes longer than cash or swiping a card. The card has the same form factor as a credit card complete with magnetic strip, but if you swipe them, the transaction will decline. To use the card, you need to insert the card like an ATM and leave it there. That bothers me. What is worse, the machine makes a nasty noise to remind you to take the card back. Since this happens at the end of the transaction, I thought the buzzing beep was a decline. Nope. That is the reminder to take the card back. It has nothing to do with payment.

    I hate it. I tend to pay in cash to avoid this experience which means I am carrying more cash than I used to.
    Last edited by Solfe; 2015-Nov-27 at 03:10 PM.
    Solfe

  23. #23
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    Long ago memory ...

    Mrs. M. takes all of the pennies collected in a bowl for many months and carefully fits them into bank-supplied wrappers, so that we'll be able to deposit a few dollars worth next time at the bank. Leaves the rolls on the kitchen table overnight.

    Young son sees these next morning. When she gets there, he tells her "Look, Mommy, I put all the new pennies in the penny bowl!" and is quite proud of himself.

    He hadn't quite learned the idea here. So she had to explain it to him and then wrap them all over again.

  24. #24
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    A very funny memory, Don - thanks.

    I've given my opinions in another thread, I won't repeat them here. I'll simply repeat the warning that small change, while irritating and insignificant to some, makes the difference between eating and starving to others. There are many - I was one of them - for whom a whole dollar is a rare and impressive thing. While discussing the convenience of coins; I'd advise you to also consider the need for coins amongst the poor. That small change takes on a much more important aspect when seen in that light.
    "The difference between theory and practice is that in theory, there's no difference."

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  25. #25
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    Quote Originally Posted by NorthernDevo View Post
    A very funny memory, Don - thanks.

    I've given my opinions in another thread, I won't repeat them here. I'll simply repeat the warning that small change, while irritating and insignificant to some, makes the difference between eating and starving to others. There are many - I was one of them - for whom a whole dollar is a rare and impressive thing. While discussing the convenience of coins; I'd advise you to also consider the need for coins amongst the poor. That small change takes on a much more important aspect when seen in that light.
    Here in Canada, you are quite unlikely to get anything to eat unless you have a whole dollar. (Foods at Dollarama are usually a dollar or more.)
    While not the "richest", I usually don't have to care about the pocket change level of cash.
    Many people think about the American affluence, but I don't realize poverty is quite common as well.
    I'm thinking of some vegetables and fruits that can be purchased with less than one dollar, though.

  26. #26
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    Quote Originally Posted by NorthernDevo View Post
    A very funny memory, Don - thanks.

    I've given my opinions in another thread, I won't repeat them here. I'll simply repeat the warning that small change, while irritating and insignificant to some, makes the difference between eating and starving to others. There are many - I was one of them - for whom a whole dollar is a rare and impressive thing. While discussing the convenience of coins; I'd advise you to also consider the need for coins amongst the poor. That small change takes on a much more important aspect when seen in that light.
    One of the lesser known effects of the switch from paper food stamps to EBT cards is that any coin change you got from paper food stamps, you got in actual change. This could be spent on toilet paper, feminine hygiene products, soap, and things along those lines that aren't covered by food stamps but are necessities. EBT cards work as debit cards, and you don't ever get change. Fortunately, I have not been so poor I had to scrounge change for toilet paper in a very long time, but a lot of people are.
    _____________________________________________
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    "Now everyone was giving her that kind of look UFOlogists get when they suddenly say, 'Hey, if you shade your eyes you can see it is just a flock of geese after all.'"

    "You can't erase icing."

    "I can't believe it doesn't work! I found it on the internet, man!"

  27. #27
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    Quote Originally Posted by Inclusa View Post
    Here in Canada, you are quite unlikely to get anything to eat unless you have a whole dollar. (Foods at Dollarama are usually a dollar or more.)
    While not the "richest", I usually don't have to care about the pocket change level of cash.
    Many people think about the American affluence, but I don't realize poverty is quite common as well.
    I'm thinking of some vegetables and fruits that can be purchased with less than one dollar, though.
    You can get Mr. Noodles and cans of tuna for sixty cents at Dollerama too - one a day is just enough to survive. A very common practice in Edmonton.
    "The difference between theory and practice is that in theory, there's no difference."

    "Aikido: the art of hitting people with planets."

  28. #28
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    Coins will be around as long as paper currency is around.
    The lowest denominations always get a lot of handling, wear out faster, and need replaced sooner. Coins are a solution to that problem, since it takes a long time to wear down a coin into unusability. I have a Victorian penny dated 1899 that I got in my change in 1970, just before the currency change in the UK.
    As we lose small denomination coins that no longer have useful purchasing power, we start to convert small denominations notes to coins.

    We've been experimenting with plastic 5 notes in Scotland this year. So far I've seen one in actual use - they seem to be siphoning off into people's collections instead.

    Grant Hutchison

  29. #29
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    When Uncle Sam wanted to change from coin to paper money, which was cheaper, the people resisted. Now Uncle Sam is trying to move from paper to coins, because coins are now cheaper. This time, the people are really resisting, because they don't want a pocket full of coins, or to carry a sack of coins every where. The U.S. Government also has the tendency to make every dollar coin the size of a quarter, which confuses people. Back when the Susan B. coin came out, I was taking care of the vending machines at work, and I made more money because people would confuse the Susan B. coin with a quarter. So I would just put a quarter in it's place, and make .75 cents on the deal. I had a relative that was married to a blind man that owned a small concession stand. If he had the the time, he could feel the difference between a quarter and a Susan B., but in a rush he couldn't.

    The U.S. Government has repeated this same mistake with the other dollar coins, and then can't figure out why the coins bomb. A hint, if you are going to make a dollar coin the size of a quarter, THEN DON'T MAKE IT ROUND LIKE A QUARTER!!

    Back in the 80s, the U.S. Government brought back the $2.00 dollar bill. The reasoning was sound, so many things cost a $1.99 it would save on bills, but there were problems. Businesses HATED them because the was no slot for them in the cash drawer. Also, some Merchants, or their Employees though that the Customer was trying to pass a counterfeit bill, and would call the Police. To add to the poor Customer's problems, some of the Police also thought that they were counterfeit! The relaunch of the $2.00 bill didn't last long.

    David.

  30. #30
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    Quote Originally Posted by Inclusa View Post
    Here in Canada, you are quite unlikely to get anything to eat unless you have a whole dollar. (Foods at Dollarama are usually a dollar or more.)
    It's not about having a whole dollar. We're talking about a few cents at a time. After a (fairly short) length of time, those few cents add up until the cumulative difference is more than a dollar.

    Quote Originally Posted by Krel View Post
    Back when the Susan B. coin came out, I was taking care of the vending machines at work, and I made more money because people would confuse the Susan B. coin with a quarter. So I would just put a quarter in it's place, and make .75 cents on the deal.
    I don't understand this. If the machine couldn't tell the difference between the Susan B. and a quarter, that was a problem with the machine. If you were responsible for the vending machine, and allowed it to continue to accept dollar coins as quarters, you were actively defrauding people.

    Quote Originally Posted by Krel View Post
    The U.S. Government has repeated this same mistake with the other dollar coins, and then can't figure out why the coins bomb. A hint, if you are going to make a dollar coin the size of a quarter, THEN DON'T MAKE IT ROUND LIKE A QUARTER!!
    Other dollar coins? There's only been one other dollar coin since the Susan B., the Sacagawea. And it's the same size as the Susan B. so that the vending machines which accept the Susan B. will also accept the Sacagawea. Making the dollar coin a difference size now would wreak havoc with the vending machine industry.
    Sometimes you win, sometimes you learn

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