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Old 12-01-2013, 01:02 PM
 
Location: Upstate NY
30,750 posts, read 9,194,138 times
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Quote:
Originally Posted by stockwiz View Post
... I just throw them on the ground when I get them ...

If I saw someone do that, I'd think he needs some serious couch time.
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Old 12-01-2013, 01:06 PM
 
8,306 posts, read 3,487,286 times
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Quote:
Originally Posted by AmFest View Post
I know this is a crazy idea, but how about appreciating the value of the dollar by 10 times? So a loaf of bread instead of costing $3 will then cost 30 cents, and a penny will be worth 10 times more than it does today and become meaningful again. Of course currency exchange will have to change as well. A British pound will be worth 0.164 USD, not 1.64 USD.
Israel did this about 30 years ago.
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Old 12-01-2013, 01:09 PM
 
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Quote:
Originally Posted by Hoonose View Post
Israel did this about 30 years ago.
How did it go for them?
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Old 12-01-2013, 01:21 PM
 
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Quote:
Originally Posted by AmFest View Post
How did it go for them?
Sorry I don't know the details, but they're still there!
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Old 12-01-2013, 02:02 PM
 
Location: Striving for Avalon
1,411 posts, read 2,009,964 times
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The penny is outliving its usefulness, especially with the prevalence of electronic/cashless payment. Commerce in Australia hasn't collapsed without a 1 cent coin.

The half-dollar is perhaps the most under-appreciated coin, IMO. They, along with the dollar coin, are the only two coins that wouldn't be a complete nuisance. Given how few items cost under $1 these days, paying for relatively small items with quarters results in an annoying experience for a customer and cashier.
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Old 12-01-2013, 02:22 PM
 
1,668 posts, read 1,073,341 times
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Default i agree about the penny

we still need the paper bill imagine the weight of $10 worth of dollar coins rattling around in your pocket. but get rid of the penny.most people dont even bother picking it up when they drop one.
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Old 12-01-2013, 02:26 PM
 
Location: Vallejo
13,487 posts, read 15,125,332 times
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Quote:
Originally Posted by AmFest View Post
I know this is a crazy idea, but how about appreciating the value of the dollar by 10 times? So a loaf of bread instead of costing $3 will then cost 30 cents, and a penny will be worth 10 times more than it does today and become meaningful again. Of course currency exchange will have to change as well. A British pound will be worth 0.164 USD, not 1.64 USD.
Confusing.

Countries have done that, mostly after hyperinflation, and usually knocking off more than one zero. Then you have to redesign all your currencies and the old pre-change currency becomes worth 1/10th or 1/100th or 1/1000th or whatever less than the new face value. Probably not worth the hassle.
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Old 12-01-2013, 02:34 PM
 
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Quote:
Originally Posted by Malloric View Post
Then you have to redesign all your currencies and the old pre-change currency becomes worth 1/10th or 1/100th or 1/1000th or whatever less than the new face value. Probably not worth the hassle.
Why do you have to redesign all your currencies? The point is keeping the circulating notes, only changing the value of the currency.
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Old 12-01-2013, 02:50 PM
 
8,306 posts, read 3,487,286 times
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Quote:
Originally Posted by AmFest View Post
Why do you have to redesign all your currencies? The point is keeping the circulating notes, only changing the value of the currency.
I think the idea is that the new money moving forward is now different than the old. So it has to look different.
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Old 12-01-2013, 03:29 PM
 
Location: Vallejo
13,487 posts, read 15,125,332 times
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Quote:
Originally Posted by AmFest View Post
Why do you have to redesign all your currencies? The point is keeping the circulating notes, only changing the value of the currency.
Because you have to be able to tell the new currency from the old currency at a glance.
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