{"items": [{"author": "David German", "source_link": "https://plus.google.com/111229345142780712481", "anchor": "gp-1340594654956", "service": "gp", "text": "I think the value of coins relative to transactions is important. \u00a0I've enjoyed carrying coins in Canada and the EU, where it's feasible to buy a modest outing's worth of stuff with them. \u00a0The US denominations are just too small.\n
\n
\nFortunately, electronic payments are on the brink of making this issue irrelevant. \u00a0 \n@Google\n\u00a0", "timestamp": 1340594654}, {"author": "Jeff Kaufman", "source_link": "https://plus.google.com/103013777355236494008", "anchor": "gp-1340595566484", "service": "gp", "text": "@David German\n\u00a0That doesn't fit with the American dislike of dollar coins.", "timestamp": 1340595566}, {"author": "David German", "source_link": "https://plus.google.com/111229345142780712481", "anchor": "gp-1340597891449", "service": "gp", "text": "@Jeff Kaufman\n\u00a01 USD isn't big enough. \u00a0A 2 EUR coin is worth 2.50 USD, and a toonie is worth 1.94 USD.", "timestamp": 1340597891}, {"author": "Jeff Kaufman", "source_link": "https://plus.google.com/103013777355236494008", "anchor": "gp-1340599643936", "service": "gp", "text": "@David German\n\u00a0Americans have avoided dollar and half dollar for decades, though. \u00a0When the mint stepped up dollar coin production in 1971 as part of an effort to popularize them they were worth about $5. When the smaller Susan B Anthony dollar came out in 1979 it was worth $3.", "timestamp": 1340599643}, {"author": "Andrew", "source_link": "https://www.facebook.com/jefftk/posts/151702674965558?comment_id=151769111625581", "anchor": "fb-151769111625581", "service": "fb", "text": "Coins certainly last longer, and they are easier to clean. They come in different sizes, so you can distinguish them if you're blind, or if they're in your pocket.
I think pennies are unnecessary at this point. I think the US government still insists on minting them because they are afraid to admit that they are worthless. When I was growing up (in the 1960s), the NYC subway cost 10 cents, and candy bars cost 5 or 10 cents. In essence, much of what we buy today costs 10x what it did then, so the penny of the 1960s is today's dime, and the $1 bill then is today's $10.
Retailers are hooked on the custom of selling stuff for $X.99. Is there anyone who doesn't see $9.99 and read it as ten dollars? And gasoline. Gas costs $3.50 or $4.00 per gallon, but the pump says: $3.499. They are charging for gas by the 1/10th of a cent. Do you know how much gas $.001 buys you? About a milliliter.
Speaking of love of bills or coins, there are folks who hoard cash-equivalents, like subway tokens or postage stamps, because they tend to keep their value with inflation, whereas cash does not. Postal stamps didn't keep value until the new \"forever stamps.\" But subway tokens did (though they are now gone). In Israel, during a period of rampant inflation, people hoarded \"telephone tokens,\" (aka \"asimonim\") because they were a very stable currency, much more stable than the (old) Israeli sheqel. When the \"new Israeli sheqel\" was issued in 1986, Israel reprinted the old money and removed three zeros from the bills - the old 1000 sheqel note was the new 1 sheqel note, same color, same pictures, fewer zeros. Nowadays Israeli currency is stable, but the smallest bill is 20 sheqels (about $5) and 10 sheqel coins are common.
These days, I use $20s, because that's what the machine gives me. Like Jeff, my change goes into a bucket. I don't give the 8% to Coinstar, I always get an Amazon certificate from Coinstar (for full value rather than the 8% discount) and use it as a reason to consume conspicuously.
And then there are all those people who just use plastic, no cash at all. I'm not ready for that until the transactions are as anonymous as cash is now. I don't want a database with every kind of food I eat, book I read, place I go, thing I do, etc etc etc.", "timestamp": "1340601715"}, {"author": "David Chudzicki", "source_link": "https://plus.google.com/106120852580068301475", "anchor": "gp-1340602424372", "service": "gp", "text": "Coins fall out of my pocket. Higher value coins would be even worse for me. ", "timestamp": 1340602424}, {"author": "George", "source_link": "https://www.facebook.com/jefftk/posts/151702674965558?comment_id=151776084958217", "anchor": "fb-151776084958217", "service": "fb", "text": "Canadian bank notes can also be distinguished by touch and paper money in general can be made to be easily distinguished by the blind", "timestamp": "1340603398"}, {"author": "Todd", "source_link": "https://plus.google.com/112947709146257842066", "anchor": "gp-1340609966911", "service": "gp", "text": "Coins are obnoxious because they don't fit comfortably into my wallet and they're heavy. I can have $400 in cash relatively comfortably on my person in bills (this is not something I actually do). A couple bucks in coins, on the other hand, is a huge nuisance, either making my wallet lumpy, fat, and heavy, or making me jingle, making my pockets move around and bump against my legs, and bringing considerable risk of losing them if I sit.\n
\n
\nThis is actually a huge deal to me, as I hate having things in my pockets to begin with. When I was going to school, I'd usually put everything but my phone in my backpack. When I go to someone's place and it's not a large gathering, I'll take out my wallet, keys, and phone, and put them on a table or something. I hate hate hate having stuff in my pockets, and coins are terrible in this regard.\n
\n
\nAs it is I already pay by credit card whenever possible, but I can't wait for electronic transactions to become even more ubiquitous. Ideally it will get to the point where I don't even need a wallet any more. If I can have a boarding pass on my phone, why not my driver's license? Why not my credit card? Or even the ability to scan something to PayPal (competition for the credit cards!). Heck, this could probably be extended to cover my keys as well, at least my car keys (I'm guessing most people won't be comfortable with electronic front door locks any time soon).", "timestamp": 1340609966}, {"author": "Josh", "source_link": "https://plus.google.com/118273920476267337216", "anchor": "gp-1340622863496", "service": "gp", "text": "I agree with everyone else here: Bills are much easier to work with. (One thing no one's mentioned yet: I can sort my bills in my wallet, and they stay sorted, making it easy to find the amount I want; coins are a jingling unsorted mess.) I'd hypothesize that dislike of paper money is almost entirely from sellers, who don't like that it's easier to counterfeit than coins. For buyers, bills are pretty much always more convenient.", "timestamp": 1340622863}, {"author": "Todd", "source_link": "https://plus.google.com/112947709146257842066", "anchor": "gp-1340624518467", "service": "gp", "text": "@David German\n, I'm curious whether you'd have enjoyed it as much if it had been an everyday\u00a0occurrence, rather than a novelty of sorts. I could see myself enjoying the experience you mentioned, but I'd never want to bring it home with me and deal with it frequently.", "timestamp": 1340624518}, {"author": "Allison", "source_link": "https://plus.google.com/103741579182942078941", "anchor": "gp-1340628730599", "service": "gp", "text": "I like coins, but I usually carry a bag/purse, which makes them easier to manage. \u00a0I would far prefer dollar coins to dollar bills because my wallet is so tiny that it can't fit a stack of ones; I'd rather just toss coins into the bottom of my bag (or start using a coin purse).\n
\n
\nI also like the separation of big bills and little bills, which coins would make easier. \u00a0For example, I don't like letting a twenty be visible if I only need to pay a few dollars. \u00a0If my small bills were coins, this would be a non-issue.", "timestamp": 1340628730}, {"author": "Todd", "source_link": "https://plus.google.com/112947709146257842066", "anchor": "gp-1340629579144", "service": "gp", "text": "A purse?!! What sort of infernal technomancy is that?!!", "timestamp": 1340629579}, {"author": "Allison", "source_link": "https://plus.google.com/103741579182942078941", "anchor": "gp-1340630139674", "service": "gp", "text": "@Todd\n\u00a0An invaluable one. Its dark arts are easy to master should you dare try.", "timestamp": 1340630139}, {"author": "David German", "source_link": "https://plus.google.com/111229345142780712481", "anchor": "gp-1340630183351", "service": "gp", "text": "@Todd\n\u00a0Possibly, and it may also be that tourist activities benefit more from coins. \u00a0If you aren't carrying a wallet, you don't have to worry about keeping it safe from pickpockets, water, or sand.", "timestamp": 1340630183}, {"author": "Josh", "source_link": "https://plus.google.com/118273920476267337216", "anchor": "gp-1340632016394", "service": "gp", "text": "David German: Maybe, although you could also just stuff your bills in your pocket -- the main thing is that you \ncan't\n put coins in a wallet.", "timestamp": 1340632016}, {"author": "Allison", "source_link": "https://plus.google.com/103741579182942078941", "anchor": "gp-1340632492949", "service": "gp", "text": "@Josh\n\u00a0\nhttp://bit.ly/KXgftw", "timestamp": 1340632492}, {"author": "Josh", "source_link": "https://plus.google.com/118273920476267337216", "anchor": "gp-1340633275609", "service": "gp", "text": "Yeah, but try putting $100 in coins into one of those.", "timestamp": 1340633275}, {"author": "Allison", "source_link": "https://plus.google.com/103741579182942078941", "anchor": "gp-1340633509772", "service": "gp", "text": "I don't carry $100 in my wallet period, let alone in coins. \u00a0The most I'd every carry in coins is $10, which those would easily fit if we had $2 coins.", "timestamp": 1340633509}, {"author": "Alex", "source_link": "https://plus.google.com/100936518160252317727", "anchor": "gp-1340634565208", "service": "gp", "text": "Whether we like them more or not, it's worth pointing out that the lifetime cost to manufacture a bill is higher than that of a coin, since coins last so much longer. While I personally hate hate hate carrying coins, from a policy perspective I would rather the US circulate more of them in larger denominations than they do now.\n
\n
\nI also think getting rid of the penny would help lighten the load some. I'd be okay with carrying about the same number of coins as I do now, even if those coins were larger-denomination and therefore generally heavier. What would be even better is if we replaced the quarter with a 20-cent piece and got rid of the nickel while we were at it.", "timestamp": 1340634565}, {"author": "Jeff Kaufman", "source_link": "https://plus.google.com/103013777355236494008", "anchor": "gp-1340637855101", "service": "gp", "text": "@Josh\n\u00a0I wouldn't carry $100 in dollar coins any more than I would carry $100 in dollar bills.", "timestamp": 1340637855}, {"author": "Julia", "source_link": "https://www.facebook.com/jefftk/posts/151702674965558?comment_id=151964758272683", "anchor": "fb-151964758272683", "service": "fb", "text": "The guide at the living history museum told me indigenous people are buried with goods and posessions for the life beyond, but money has to be in coin form. Convenient: more tangible and worth less.", "timestamp": "1340638014"}, {"author": "Jeff Kaufman", "source_link": "https://www.facebook.com/jefftk/posts/151702674965558?comment_id=151971038272055", "anchor": "fb-151971038272055", "service": "fb", "text": "@Julia: that might also be a tradition from before paper money was common?", "timestamp": "1340638811"}, {"author": "Todd", "source_link": "https://plus.google.com/112947709146257842066", "anchor": "gp-1340642397583", "service": "gp", "text": "@Jeff Kaufman\n\u00a0\n@Allison\n\u00a0I \nwould\n carry $100 in bills in plenty of situations, and have done, usually when traveling. Also, putting coins in wallets is a thing you \ncan\n do, but it's far from effective. I think this demonic \"purse\" contraption is the real solution to enabling acceptable coin carrying.\n
\n
\nMaybe we should have a discussion about gender roles as they apply to purses =P", "timestamp": 1340642397}, {"author": "Allison", "source_link": "https://plus.google.com/103741579182942078941", "anchor": "gp-1340643489074", "service": "gp", "text": "@Todd\n\u00a0I made sure to specify that I wouldn't carry $100 \nin my wallet\n; I've carried as much or more while traveling, but I always distribute it amongst purse, pockets, shoes, backpack, etc., for safety.\n
\n
\nMy \"purse\" is just a cloth bag with a zipper, and I've seen men-folk lugging the same style around, albiet more women. \u00a0The main reason more women have bags is because their clothes aren't usually engineered to actually hold stuff. But since I realize that your discussion suggestion was at least partially in jest, I'll leave it at that. \u00a0:)", "timestamp": 1340643489}, {"author": "Jeff Kaufman", "source_link": "https://plus.google.com/103013777355236494008", "anchor": "gp-1340646747228", "service": "gp", "text": "@Todd\n\u00a0The comparison is between $100 in dollar coins and $100 in singles. \u00a0Because $5 or $20 coins are completely possible but we don't have them, you don't get at the relative advantages of coins and bills if you compare big bills to small coins.", "timestamp": 1340646747}, {"author": "Jeff Kaufman", "source_link": "https://plus.google.com/103013777355236494008", "anchor": "gp-1340646856085", "service": "gp", "text": "@Todd\n\u00a0\n@Allison\n\u00a0Are you speculating that the reason coins are much more accepted in some places than others is how well the local clothing style supports coins?", "timestamp": 1340646856}, {"author": "Allison", "source_link": "https://plus.google.com/103741579182942078941", "anchor": "gp-1340647607981", "service": "gp", "text": "@Jeff Kaufman\n\u00a0I think it's entirely possible that clothing/accessory customs could influence the acceptance of coins, but the causality could go either way. \u00a0(There's probably a funky\u00a0causal\u00a0cycle.)", "timestamp": 1340647607}, {"author": "Todd", "source_link": "https://plus.google.com/112947709146257842066", "anchor": "gp-1340648108256", "service": "gp", "text": "@Jeff Kaufman\n\u00a0Okay, but I'd still far rather have 5 bills then 5 coins. And as they split when I get change, the numbers will increase.", "timestamp": 1340648108}, {"author": "Josh", "source_link": "https://plus.google.com/118273920476267337216", "anchor": "gp-1340648400240", "service": "gp", "text": "That's basically it: One bill is smaller and lighter than one coin, so N bills are also going to be smaller and lighter than N coins, if you assume that bills and coins are available in the same denominations. So if what you're going for is \"small and light\", you'll always prefer bills to coins.\n
\n
\n(If the coins are more like the size of a quarter than the size of a dime, anyway, but my impression is that the dime is somewhat of an outlier in coin sizes/shapes.)", "timestamp": 1340648400}, {"author": "Todd", "source_link": "https://plus.google.com/112947709146257842066", "anchor": "gp-1340648467342", "service": "gp", "text": "And dimes are pretty annoying to deal with for being so small.", "timestamp": 1340648467}, {"author": "Bryce", "source_link": "https://plus.google.com/110073329443149494347", "anchor": "gp-1340648917022", "service": "gp", "text": "I used to hate coins, but my study abroad semester in Europe forced me to learn to deal with them, and now I have two good solutions: 1) I cary a coin purse in my pocket, resolving all jingling problems, and 2) I reject pennies, leaving them in tip jars or telling the\u00a0cashier\u00a0to skip them. I think the biggest thing that makes coins functional in Europe is actually not that they have 2-euro coins, but rather that the small denomination coins are rare: 5-cent coins are encountered about once a week, and 1-cent coins a couple of times a year. This is facilitated by the fact that most countries allow (or require) sales tax (or its equivalent) to be included in the price, which in turn moves stores away from 99\u00a2 pricing.", "timestamp": 1340648917}, {"author": "Josh", "source_link": "https://plus.google.com/118273920476267337216", "anchor": "gp-1340649274027", "service": "gp", "text": "Huh, is .99 pricing a sales tax thing? I'd assumed that it was to make you look at a $49.99 thing and think that the price was less than fifty dollars (which it is, of course, but not in a very significant way).\n
\n
\nSame reason gasoline is priced to 99/100 of a cent (and that includes all taxes): It makes the advertised price look lower.", "timestamp": 1340649274}, {"author": "Bryce", "source_link": "https://plus.google.com/110073329443149494347", "anchor": "gp-1340649965989", "service": "gp", "text": "@Josh\n\u00a0Making the price look lower is certainly part of the goal, but in my experience, wherever sales tax is included in the price, prices also tend to be rounder. My guess is that the small psychological advantage that the seller gains is small, so it's only worth it when there is already an expectation that you'll have to deal with coins.", "timestamp": 1340649965}, {"author": "Allison", "source_link": "https://plus.google.com/103741579182942078941", "anchor": "gp-1340650287235", "service": "gp", "text": "99\u00a2 pricing is impacted by sales tax; stores can mark something as X.99, but don't\u00a0actually\u00a0have to give pennies back for every purchase once tax is added. \u00a0If you had to go get a stack of pennies every morning, you'd bump up the price to a round dollar amount to save yourself the hassle.", "timestamp": 1340650287}, {"author": "Josh", "source_link": "https://plus.google.com/118273920476267337216", "anchor": "gp-1340650831247", "service": "gp", "text": "@Allison\n: Doesn't that depend on what the post-tax price is? If it ends up being (X+N).Y0, then sure; but if it ends up being (X+N).Y4 or Y9 then you still have to give back a penny; and if it ends up being Y1 or Y6, you actually have to give back more pennies. (.99 only requires one penny in change.)\n
\n
\n@Bryce\n: I suspect that it has more to do with advertising than anything else -- the kinds of places where I've seen round-number pricing (with or without sales tax included) are places that are more like small sandwich shops, where you're already buying by the time you're in there. Gas stations do the .X9 + 99/100 thing because advertising for gas is even more immediate than other kinds of ads -- it's right there on a big sign right in front of the gas station that you're about to stop at right now... So they have a \nlot\n of incentive to make you think \"hmm, that's less expensive\"; if the gas station across the street is selling for 3.70, and you're charging 3.6999, the price is essentially identical, but I bet a lot of people will pull in to your station because you look cheaper.", "timestamp": 1340650831}, {"author": "Jeff Kaufman", "source_link": "https://plus.google.com/103013777355236494008", "anchor": "gp-1340651349618", "service": "gp", "text": "@Josh\n\u00a0\"One bill is smaller and lighter than one coin\"\u00a0\n
\n
\nSignificantly? \u00a0A US bill seems to have the area of about 20 quarters. \u00a020 bills seem thicker than a quarter. \u00a0So I'm not sure about the smaller.\n
\n
\nLighter, yes, though again not hugely. \u00a0A bill weighs about a gram while a quarter weighs about 5 grams.\n
\n
\n(I just went through this with America's least-disliked coin, the quarter, but you could of course change the ratios by choosing a larger/heavier or smaller/lighter one.)", "timestamp": 1340651349}, {"author": "Allison", "source_link": "https://plus.google.com/103741579182942078941", "anchor": "gp-1340651562962", "service": "gp", "text": "@Josh\n\u00a0you're right on it depending on the post-tax price, but you'd probably be getting pennies occasionally too, since people like to get rid of them and not get them. \u00a0You'll see people say \"Oh wait, I have a penny!\" to avoid getting four more.", "timestamp": 1340651562}, {"author": "Jeff Kaufman", "source_link": "https://plus.google.com/103013777355236494008", "anchor": "gp-1340651683566", "service": "gp", "text": "Math confirms my guesses: the volume of a quarter is 0.8mL while a dollar bill is 1.1mL.", "timestamp": 1340651683}, {"author": "Josh", "source_link": "https://plus.google.com/118273920476267337216", "anchor": "gp-1340651697706", "service": "gp", "text": "@Jeff Kaufman\n: It's possible that they're not smaller by volume -- a stack of bills, folded up in my pocket, might take up more volume than the same number of quarters. But the bills have the advantage of being flat, the same size, and sortable, in a way that coins aren't. The weight matters more when you have more of them -- four grams isn't a lot, forty grams is more noticeable. Although maybe not a lot more so.", "timestamp": 1340651697}, {"author": "Chris", "source_link": "https://plus.google.com/117346402173047680184", "anchor": "gp-1340660514130", "service": "gp", "text": "I think the point about sales tax being included in the price is a good one.\u00a0 If you don't include sales tax in the listed price, then you're always going to have to deal with change.\u00a0 If you list it at 1.00, the person pays 1.06 (assuming 6.25%).\u00a0 If you list it at .99, the person pays 1.05.\u00a0 This coincidentally means not using pennies and only nickles, but it's kinda random whether it does or not.\n
\n
\nHowever, if sales tax is included than listing at .99 means you have to deal with coins, but listing at 1.00 means you don't, and that's always the case, no matter what the sales tax happens to be.\n
\n
\nReally smart sellers in the states will often actually include this in their pricing scheme.\u00a0 I remember things being prices at 0.96 or 1.92 (Michigan was .04 when I was growing up.)\u00a0 I also remember a place that charged a dollar a slice for pizza (ah, the good old days.)\u00a0 I didn't think about it at the time, but of course they had to pay for sales tax and were just including it in the price to make it easier to do business.\u00a0 I bet they made up more in sales by not bottlenecking at the register than they lost in tempting people with looking slightly cheaper.", "timestamp": 1340660514}, {"author": "Chris", "source_link": "https://plus.google.com/117346402173047680184", "anchor": "gp-1340662782626", "service": "gp", "text": "Pay by phone system: \nhttps://www.thelevelup.com/how-it-works", "timestamp": 1340662782}]}