I have found the euro coins and banknotes very easy to handle. They are similar to the British, but smaller. Unlike the British coins, the mass of the coin is not proportional to its value, so higher value coins do not become too big. Moreover, each coin has a distinct edge - they are easily identifiable edge-on. The bank notes too follow a distinct sequence in both size and colour - the height of each banknote is 3 mm more than the one of immediate lesser value and the width is 6 mm. The banknotes only really start to get big once one goes above the €100 note.
A few EU countries have discontinued to 1c and 2c coins. If your bill come to €4.98, the shop pockets the 2c, but if it is €4.97 then you pocket the 2c - in the end it balances out. -----Original Message----- From: [email protected] [mailto:[email protected]] On Behalf Of John Frewen-Lord Sent: 12 August 2010 21:30 To: U.S. Metric Association Subject: [USMA:48362] Re: Fw: Re: USA $1 Coin As the originator of this thread, I have to agree with this comment about coins and banknotes - today's high(er) value coin is no different, in terms of spending power, than the lower value coins were 50 or more years ago. Personally, I like the £1 and £2 coins (UK) and the $1 and $2 coins (Canada). I have never found it a problem with ending up with a pocket full of heavy coinage. Sometimes though you find a bonus - you have a bit of change in your pocket, and find that it comes to say £8 (around $12). Hey, I don't need to break into the next £10 note in my wallet to buy lunch. By contrast, I find that US banknotes are not nice. They all look the same, are very old fashioned in design (just compare them with, say, the very modern Canadian banknotes), and a wallet full of them can add up to not much money if they are mostly $1 bills. Give me coins every time, at least for the lower denominations. As regards the problem of having to carry (or collect) huge quantities of very small denominations of coinage, that is a problem of course, as has been pointed out, of having separate local state taxes collected at the till, rather than be included in the displayed price. Canada has the same problem, with collecting both the federal GST (Goods and Services Tax) and Provincial sales taxes at the till. There is a new harmonised sales tax being rolled out Province by Province, but I'm sure it will still be collected at the till. The UK, acting under EU law, includes VAT (Value Added Tax) in the displayed prices. Yes, when something is displayed as being £4.99, you get 1 penny change, which is then pretty useless to spend on anything else, but overall seems manageable. I much prefer seeing the displayed price as being the price you pay at the till. Australia has the best system (perhaps Pat can correct this if I have got it wrong). There coins are now denominated at a minimum of $0.05, with displayed prices (which include sales taxes) rounded to the nearest $0.05. If a price is displayed at $4.99, you only pay $4.95. If the retailer wants more, he has to price at $5.00. A great way to cut down on loose change. As I mentioned before, it amazes me that Americans have a problem with something that the rest of the world has adopted wholesale, because it works (like the metric system). Just what is the problem? John F-L ----- Original Message ----- From: "Michael G. Koerner" <[email protected]> To: "U.S. Metric Association" <[email protected]> Sent: Thursday, August 12, 2010 7:34 PM Subject: [USMA:48361] Fw: Re: USA $1 Coin > >> Subject: >> [USMA:48360] Fw: Re: USA $1 Coins >> From: >> "John M. Steele" <[email protected]> >> Date: >> Thu, 12 Aug 2010 02:54:12 -0700 (PDT) >> To: >> U.S. Metric Association <[email protected]> >> >> OK, $1 coin lovers, such a deal I have for you. It is time to "fish or >> cut bait." No more "can't find 'em" excuses. I learned of this deal >> through another discussion forum: >> http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?langId=-1&storeId=10001&catalogId=10001&identifier=8100 >> >> The US Mint will sell you $250 in $1 coins (circulation grade) AT PAR. >> They will absorb the credit card fees, shipping and handling, and deliver >> to your door. They are obviously taking a small loss on each to move >> inventory. >> >> Scammers have used the program to earn air miles and credit card points >> and immediately deposit the coins at their bank. So the Mint has had to >> add some limitations, you can only buy $1000 worth every 10 days, and you >> have to promise that you understand you are not supposed to abuse the >> program. (Please keep in mind that $1000 weighs 8.1 kg plus the weight of >> shipping materials.) That limit is considerably faster than I use cash, >> although, frankly, I prefer bills and larger denominations. > > Actually, the USMint is still making out BIG TIME, even with the free > shipping on the coins, as it only costs about 7-8¢ each for them to make > the coins. As soon as the dies begin to spearate from the newly struck > coins, they go on the Federal books at $1 each, for a 92-93¢/coin profit > (called 'seigniorage', a GREAT spelling-bee word!). Subtract the shipping > and the Feds are still making nearly 90¢/coin. > > As for that 'abuse', I would just flag those purchases such that they will > not be eligible for those CC bonuses. > > As for quantities of metal in one's pocket, ask those who live in places > where high-value coins are the norm. The quantity of metal in pockets and > coin purses is usually less, because there is more of a tendency to SPEND > lower coins, along with the higher ones, in normal daily small-time > commerce, rather than to just accumulate them as here in the USA. > > 70 years ago (1940), the USA still used the same slate of coins and > banknotes as today - 1¢, 5¢, 10¢, 25¢, 50¢ (all of today's dimensions) and > scarce $1 coins and then banknotes for $1 on up. Half Dollars (50¢) were > more common in circulation than Quarters (25¢). BUT, back then, when > figuring in inflation, the Quarter (25¢) of today was a bit less than the > 1¢ of 1940. A beer at a bar was usually 5¢; postage on a first class > letter was 3¢; a decent lunch, 10-15¢; a daily newspaper 3 or 4¢. A > top-of-the-line livingroom radio, $175 (their day's equal of the $3K-4K > theater-style big-screen home entertainment center of today). And so > forth. > > Nearly ALL daily small-time commerce in 1940 was in coins *ONLY* and to > have even ONE banknote in the wallet was to be carrying around REAL money! > On today's scale, 1940 money/prices would be like carrying around and > using 5¢ banknotes back then - and prior to 1933, the USA had regular > circulating coins of up to $20 - well over $500, perhaps over $1K, in > today's money. > > -- > ___________________________________________ ____ > _______________ > Regards, | |\ ____ > | | | | |\ > Michael G. Koerner May they | | | | | | rise > again! > Appleton, Wisconsin USA | | | | | | > ___________________________________________ | | | | | | > _______________ >
