161–170 of 222 posts
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This argument always confuses me, as if "it makes it easier to not pay our taxes" is a legitimate argument for using cash
It makes sense if you are immoral, amoral, or has started to actively distrust what you get for your money and try to "vote with your dollars". Some of that I'd call bad morals, but not necessarily morally inconsistent.
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In the past month I've received four half-dollar coins as change, which is four more than I've seen in the past decade. It seems like stores are reaching the bottom of their coin drawers; using coins they normally wouldn't.
At work, we've all basically agreed that if we run out of change and can't get any more, that we'll bring in our own jars, count it out, and exchange it for cash. It's a last resort, for sure, but we've already discussed it. As of right now, we're limited to one roll of each denomination ($17.50) by our bank, so the need may very well eventually arise, and that means that some of my collection might just end up as so…
Remember, the concept of supply and demand is still valid even for currency marked with an official denomination. You could think of that marking as the _minimum_ value of the currency, as guaranteed by the state.
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If you only extract once a week from an ATM and pay in cash? No way.
I think you sre confusing "PII" and "data." The transaction does not identify you (generally), the ID on file for the account identifies you.
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Often separating the coins isn’t necessary either. Because the value of a coin was historically the value of the metal it contained, many modern coin sizes still have a volume proportional to their value. US dimes, quarters, half dollars, and the old Eisenhower dollar coins are all $20/lb, for instance.
lb is a unit of force, not volume.
Thankfully Loomis dropped a bunch off at my condo’s property management office. Most places told me they were only accepting new coins from the cash delivery companies due to COVID.
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This argument always confuses me, as if "it makes it easier to not pay our taxes" is a legitimate argument for using cash
Here in the UK, this practice is so common it has a name: "paying cash in hand". Its literal meaning is just paying cash for something, but its implied meaning is that the recipient won't declare it to the tax authority (HMRC), and you often get a discount for paying cash in hand (so I've heard, I've never actually been offered this myself). Of course we're talking about individual tradesmen here, like plumbers or ha…
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Yup. Father in-law had this quarter collection. For whatever reason he spent decades collections quarters from each of the states and had well over $500 worth of quarters. None of us wanted his quarters. He was able to sell them at 3 quarters per dollar, a 25% profit!
That's a 33% profit. Anyhow, considering inflation, he still lost money.
Earlier quoted context omitted.
Often separating the coins isn’t necessary either. Because the value of a coin was historically the value of the metal it contained, many modern coin sizes still have a volume proportional to their value. US dimes, quarters, half dollars, and the old Eisenhower dollar coins are all $20/lb, for instance.
lb is a unit of force, not volume.
My mom took change into her metro area bank last week because they were giving 10% over face value for change. She got an extra $9. Nobody keeps change as an investment, but compared to interest rates the bank was offering on savings accounts, this was an incredible return. I'm curious if anybody with accounts at other banks tried withdrawing change to deposit in this bank?
Yup. Father in-law had this quarter collection. For whatever reason he spent decades collections quarters from each of the states and had well over $500 worth of quarters. None of us wanted his quarters. He was able to sell them at 3 quarters per dollar, a 25% profit!