321–330 of 421 posts
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$10 is taking advantage.
Yes, and? Fools and their money, etc. No one is forcing people to pay these rates. If someone wants to buy one that's their business.
(Professional coin & currency nerd here) Fun fact about these — when the treasury first issued these, many people decided to cut them into odd off-center pieces and sell the resulting notes as miscut errors. Once that started happening, the treasury (BEP to be specific) very quickly changed the serial numbers so they’re all very recognizable as having come from an uncut sheet. I didn’t check the latest for all denomi…
kinda off topic but since you're an expert here: what do people do with these uncut sheets? Is it mainly for collectors? also, my favorite form of getting currency is $2 bills in a 100 stack (so $200) from the bank. I used to use these for gift money on holidays :) but unfortunately my credit union doesn't order new stacks anymore, just jumbled up old $2 bills now.
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It's not free for the Mint. Also, credit card companies aggressively shut down manufactured spending when they notice it.
> credit card companies aggressively shut down manufactured spending when they notice it. I'm familiar with the concept of manufactured spend, and why credit card companies would try to clamp down on it. What I don't get is why the US Mint would care one way or the other for the concerns of credit card companies. The usual way to eliminate manufactured spend would be to add a credit card specific transaction fee that…
Before 2013, this likely would have violated their credit card processing agreement.
And also, it would be illegal in some states.
(Professional coin & currency nerd here) Fun fact about these — when the treasury first issued these, many people decided to cut them into odd off-center pieces and sell the resulting notes as miscut errors. Once that started happening, the treasury (BEP to be specific) very quickly changed the serial numbers so they’re all very recognizable as having come from an uncut sheet. I didn’t check the latest for all denomi…
kinda off topic but since you're an expert here: what do people do with these uncut sheets? Is it mainly for collectors? also, my favorite form of getting currency is $2 bills in a 100 stack (so $200) from the bank. I used to use these for gift money on holidays :) but unfortunately my credit union doesn't order new stacks anymore, just jumbled up old $2 bills now.
https://www.coinbooks.org/esylum_v18n36a40.html
I wouldn't advise doing this. Story goes he's been pulled into a room by the secret service for questioning.
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So, you agree that the points do come from the transaction fees after all?
Yes, I’m saying that the merchants aren’t “losing money” by paying transaction fees if they make more by accepting credit cards than not accepting credit cards.
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Yes, it is happening over the course of many decades, naturally, as machines are updated/replaced as a matter of normal business. That's a very different thing in terms of switching costs than an immediate switch that demands replacement all at one time.
All the novelty $1 coins since the Sacagawea offer the potential for a gradual shift too. Modern multi-denomination coin mechs are likely to accept them, unlike the Susan B Anthony's that were too close to quarters [1]. Some of them even have a sticker near the coin slot advertising the feature. So if someone has given you a dollar coin in change (probably a government cashier or machine), you might be able to use it…
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US notes are much more durable than most other countries’, and last much longer in circulation. The fed has calculated that the seignorage vs. printing costs of switching to coins about balance out for dollars. Pennies however: we keep them just for nostalgia.
That was the savings estimates at the time from sources in the government iirc so I think they would have included the relative durability of the cotton bank note in the calculations. [0] Of course that's just the savings not the costs but a lot of those are one time as different coin op mechanisms get updated to accept dollar coins. [0] The $1 notes also go through a lot more use in their life so they degrade much q…
Give it 15-40 years and we'll think about it again!
Of course, by then, so much of commerce will be electronic that I don't think anyone will care about what notes still circulate, other than the $100, which is used more outside the US than inside.
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Indeed? I'm saying it likely does hurt the customer and in ways that the customer often doesn't realize. That doesn't make it bad per se, but it would be great if more people would realize and address the risks involved.
> Those credit card perks are directly subsidized by the handling fees they charge your local businesses The “local business” more than makes up for credit card fees via increased spending. They know their margins and the minimum amount needed to make a credit card transaction worthwhile. That’s why many have minimum transaction amount to use a credit card.
Sure thing bud. Keep cherry-picking the business side of things.
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ADA compliance is always a struggle in the US, but if you travel around the world, the US is leaps and bounds ahead of many places that don't even have the equivalent of the ADA to fight for.
Does "other people do it worse" mean we do it well? Because I only put forward the claim that the US does it poorly. Whether others do it worse seems to have no bearing on whether we should strive to improve or not...
IMHO, there's a lot more room to improve accommodations for non-mobility impairments however, and there's examples of other countries doing better in some aspects to compare to. On-topic, accessibility of currency is clearly a US weakness, although the upcoming bill designs are supposed to address this, although we'll have to wait and feel if it works as announced.