I feel it’s obligatory to mention every time coins come into the spotlight how absolutely insane that we have physical currency so incredibly valueless. I mean, just look at pennies. You might...
I feel it’s obligatory to mention every time coins come into the spotlight how absolutely insane that we have physical currency so incredibly valueless.
I mean, just look at pennies. You might have enough money to get a tiny pack of discount gum if you can collect 100 of them. Oh, but that’s still not enough for the one way bus ride to get to the store.
I've wondered why the US doesn't either get rid of change or change the smallest denomination of coin minted. Does anything actually depend on a coin smaller than a quarter?
I've wondered why the US doesn't either get rid of change or change the smallest denomination of coin minted. Does anything actually depend on a coin smaller than a quarter?
Definitely. If you can't think of anything you can buy with the coin, it's time to ditch it. For me its basically just arbitrarily dumb medicine copays... $0.10 for a 3 month supply, how dumb is...
Definitely.
If you can't think of anything you can buy with the coin, it's time to ditch it. For me its basically just arbitrarily dumb medicine copays... $0.10 for a 3 month supply, how dumb is charging for that? Heck I pay with a credit card most times, so odds are they're losing money on that transaction.
At this point, it probably makes more sense for the US to switch to the dollar being the smallest unit, like the yen. By the time we actually ditch the penny/nickle/dime with legislation we'd probably need to ditch the quarter too.
At the moment, there's 113 Yen to the Dollar, so the granularity of currency is actually pretty similar. They even still stamp 1, 5, 10, and 50 Yen coins, so Japan isn't necessarily a great...
At the moment, there's 113 Yen to the Dollar, so the granularity of currency is actually pretty similar. They even still stamp 1, 5, 10, and 50 Yen coins, so Japan isn't necessarily a great example of it done differently, though I couldn't say how prevalent their use is.
For me, the question is: what level of rounding off will most people be comfortable with? Round to the nearest .1? .25? I don't think people would necessarily be happy rounding to the nearest dollar per item, but perhaps for a whole transaction it'd be ok?
Generally, the idea was per-transaction, and just straight up round down to nearest dollar. Gets a lot more buy-in from consumers. The savings from companies not dealing with coinage will offset...
Generally, the idea was per-transaction, and just straight up round down to nearest dollar. Gets a lot more buy-in from consumers.
The savings from companies not dealing with coinage will offset most losses.
To answer your original question: Stubborness. The penny is American(tm)! We can't abandon tradition no matter how expensive or pointless. See also: Daylight savings time.
To answer your original question:
Stubborness. The penny is American(tm)!
We can't abandon tradition no matter how expensive or pointless.
I'll actually support the existence of imperial lengths provided they only do so as fuzzy measurements. I like the precision of the metric system, and agree that anything where precision matters...
I'll actually support the existence of imperial lengths provided they only do so as fuzzy measurements.
I like the precision of the metric system, and agree that anything where precision matters it's infinitely better.
But then, I also have a foot almost exactly 1 foot long. And my thumb is almost exactly 1 inch from tip to knuckle.
For me, a pace is about 2 yards.
This kind of imprecision is generally useless. Except when 'close enough' is good enough. Like traversing terrian with just a map and compass. Or guestimating how much mulch you need to cover your garden beds. The kind of things where other factors will destroy any kind of significant accuracy. Like spreading mulch unevenly on rough terrian.
Tht kind of fuzziness makes it much easier to do all the math in your head. So long you don't try to do any advanced conversions.
Use meters/centimeters/millimeters to build the dump truck. Then fill it with yards of mulch.
I totally get that! From the thumb to pinky is 8 inches, half that is 4 inches, which is great for planting seed. I'm quite good marking off feet when in my muck boots, heel to toe is a foot (near...
I totally get that! From the thumb to pinky is 8 inches, half that is 4 inches, which is great for planting seed. I'm quite good marking off feet when in my muck boots, heel to toe is a foot (near enough). Visually, on a flat field, I can usually be within inches of 50 foot and 100 foot when making beds. But I have to say, I hate yards, I find them a hassle. I've met plenty of people who grew up with the metric system that can do the same things with their hands and feet and eyes, and to me it just seems like a much easier system.
Someday I want to calculate how much time is collectively wasted dealing with daylight savings time. From missed meetings to destroyed circadian rythams. And oh god the time-related data integrity...
Someday I want to calculate how much time is collectively wasted dealing with daylight savings time. From missed meetings to destroyed circadian rythams. And oh god the time-related data integrity issues. Did that event happen at 1:30 AM before or after the change?
At least (good) computers/databases function on UTC backend with an offset for display now. Before that keeping track of precise times in those hours was problematic.
Same here in the UK - there's even precedent, the half penny was discontinued when its relative value was higher than the penny's current purchasing power, but last time they talked about getting...
Same here in the UK - there's even precedent, the half penny was discontinued when its relative value was higher than the penny's current purchasing power, but last time they talked about getting rid of them there was so much vague and nonspecific grumbling about "choice" and conflation of the issue with the ability to use cash in general that the government had to issue a statement about them being available for years to come.
As Lunar went quarter negative, Thorsen went to her bank to replenish her coin supply. But the bank was so short on change, she could only buy a few $10, 40-quarter rolls, and most often there were none at all. “Where the heck are they going?” says Thorsen, who now spends considerable time moving her shrinking supply of quarters from her washers and dryers back to her change machine. “It’s not like they disappeared.”
[...]
“They’re worth more than 25 cents right now, that’s for sure,” adds Alex Singleterry. He runs a network of 83 arcade games at his Ballard tavern, the Ice Box Arcade, and elsewhere in the Seattle area and loses so many quarters to noncustomers that he routinely has to send out an employee to search for more. “We had to go to three banks today to get stocked up on coins for the weekend,” he said Friday.
[...]
Technically, there is no quarter shortage, in Seattle or anywhere. The U.S. Mint produced nearly 24% more coins in 2020 than in 2019, despite a temporary pandemic slowdown, and continues to roll them out at “near record levels,” according to Mint officials.
The problem, federal officials say, is many of the roughly 55 billion quarters estimated to be in circulation have been stranded by the pandemic in places — under your couch cushions, say, or in your console coin holder — where the coin-operated economy can’t touch them. It’s a smaller, less visible version of the supply chain crisis, but with quarters instead of cargo containers.
I feel it’s obligatory to mention every time coins come into the spotlight how absolutely insane that we have physical currency so incredibly valueless.
I mean, just look at pennies. You might have enough money to get a tiny pack of discount gum if you can collect 100 of them. Oh, but that’s still not enough for the one way bus ride to get to the store.
I've wondered why the US doesn't either get rid of change or change the smallest denomination of coin minted. Does anything actually depend on a coin smaller than a quarter?
Canada got rid of our penny in 2015 or so and I can tell you no one misses it. I wish they also got rid of the nickel and dime as well.
Definitely.
If you can't think of anything you can buy with the coin, it's time to ditch it. For me its basically just arbitrarily dumb medicine copays... $0.10 for a 3 month supply, how dumb is charging for that? Heck I pay with a credit card most times, so odds are they're losing money on that transaction.
At this point, it probably makes more sense for the US to switch to the dollar being the smallest unit, like the yen. By the time we actually ditch the penny/nickle/dime with legislation we'd probably need to ditch the quarter too.
At the moment, there's 113 Yen to the Dollar, so the granularity of currency is actually pretty similar. They even still stamp 1, 5, 10, and 50 Yen coins, so Japan isn't necessarily a great example of it done differently, though I couldn't say how prevalent their use is.
For me, the question is: what level of rounding off will most people be comfortable with? Round to the nearest .1? .25? I don't think people would necessarily be happy rounding to the nearest dollar per item, but perhaps for a whole transaction it'd be ok?
Generally, the idea was per-transaction, and just straight up round down to nearest dollar. Gets a lot more buy-in from consumers.
The savings from companies not dealing with coinage will offset most losses.
Always rounding down will definitely get more buy-in than any of the other options, to be sure.
To answer your original question:
Stubborness. The penny is American(tm)!
We can't abandon tradition no matter how expensive or pointless.
See also: Daylight savings time.
Don't forget feet and pounds!
I'll actually support the existence of imperial lengths provided they only do so as fuzzy measurements.
I like the precision of the metric system, and agree that anything where precision matters it's infinitely better.
But then, I also have a foot almost exactly 1 foot long. And my thumb is almost exactly 1 inch from tip to knuckle.
For me, a pace is about 2 yards.
This kind of imprecision is generally useless. Except when 'close enough' is good enough. Like traversing terrian with just a map and compass. Or guestimating how much mulch you need to cover your garden beds. The kind of things where other factors will destroy any kind of significant accuracy. Like spreading mulch unevenly on rough terrian.
Tht kind of fuzziness makes it much easier to do all the math in your head. So long you don't try to do any advanced conversions.
Use meters/centimeters/millimeters to build the dump truck. Then fill it with yards of mulch.
Has anyone guessed what's on my todo list?
I totally get that! From the thumb to pinky is 8 inches, half that is 4 inches, which is great for planting seed. I'm quite good marking off feet when in my muck boots, heel to toe is a foot (near enough). Visually, on a flat field, I can usually be within inches of 50 foot and 100 foot when making beds. But I have to say, I hate yards, I find them a hassle. I've met plenty of people who grew up with the metric system that can do the same things with their hands and feet and eyes, and to me it just seems like a much easier system.
God, as a Millennial I would happily take DST out behind the shed if they would let me.
Someday I want to calculate how much time is collectively wasted dealing with daylight savings time. From missed meetings to destroyed circadian rythams. And oh god the time-related data integrity issues. Did that event happen at 1:30 AM before or after the change?
At least (good) computers/databases function on UTC backend with an offset for display now. Before that keeping track of precise times in those hours was problematic.
Same here in the UK - there's even precedent, the half penny was discontinued when its relative value was higher than the penny's current purchasing power, but last time they talked about getting rid of them there was so much vague and nonspecific grumbling about "choice" and conflation of the issue with the ability to use cash in general that the government had to issue a statement about them being available for years to come.
From the article:
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