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Old 04-30-2019, 07:37 PM
 
Location: British Columbia ♥ 🍁 ♥
7,215 posts, read 6,570,009 times
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Quote:
Originally Posted by Natnasci View Post

I agree our $10 bill does look best out of the four countries banknotes shown in that article, but I also really like the one from the Solomon Islands. That is so cool!

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Old 05-01-2019, 04:21 PM
 
Location: Vancouver
12,670 posts, read 8,740,385 times
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Quote:
Originally Posted by Zoisite View Post
I agree our $10 bill does look best out of the four countries banknotes shown in that article, but I also really like the one from the Solomon Islands. That is so cool!

.
I love the old Dutch guilders. Beautiful bright notes. Money is attached to identity for some. My Dutch friends weren't too happy to see their money change. Don't blame them really. Ahead of it's time.

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Old 06-01-2019, 03:23 PM
 
9,858 posts, read 10,107,308 times
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Quote:
Originally Posted by Return2FL View Post
. I'm not a fan of the move toward cashless societies and the elimination of large denomination bills is part of that path.
South Korea is going the opposite route. Their largest banknote has the buying power roughly of a $50 and has only been in circulation for a decade. Prior to that, the fear of counterfeiting meant the largest banknote had the purchasing power of roughly $10. But now that the $50 is in circulation, about 80% of the total value of banknotes is in that denomination.

South Korea is going to declare all four denominations of coins invalid in a few years. For those people who do not want to carry smart phones they will be able to use a mass transit card which can be loaded with up to ~$500 maximum. Since losing one is like losing cash presumably most people won't max them out.

If you are paying for something that costs $7.30 you could give the clerk $8 in banknotes, but you must give them a card or a phone app to get your 70 cents in change. Since most people will find that cumbersome, more than likely all small purchases will be conducted with the phone app or with the mass transit card. The other option is just to give the 70 cents to the clerk as a tip.

In any case, the use of $1, $5, and $10 banknotes will probably drop dramatically. The use of $50 banknotes will probably be unaffected as they will still be used to keep value separate from a bank account, for gifts or to buy gifts where you don't want to leave a record or any other activity that demands privacy.

Theoretically, in a decade South Korea could stop printing the smaller denomination banknotes

Would that kind of action be acceptable to you?
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