401–410 of 421 posts
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I personally far prefer the cotton paper money over any polymer notes or coins and hope we keep using it despite any other potential changes to the sizes or designs or whatever.
Why?
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They are fairly rare. They are the least printed bill [1] and aren't included in a typical cash register, so just randomly stumbling upon one in the wild is a pretty rare. Sometimes people think they are fake because they've never seen one before. The only reliable way to get them is to specially request them from a bank or order them from the government. Also, because of the novelty, people tend to collect them, at…
How do people know that they are rare? I don't even know what bills exist in my country but I know they keep changing them now and then. I wouldn't be able to tell whether it was rare or just a new bill I haven't seen before.
On top of that, this isn't just a design that a person hasn't seen often, it's a denomination. Think of the 500 EUR notes, they were unfamiliar to many people.
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> the Mint will also sell you in line with Chinese numerology collectible bills with “777”s or “888”s in their SNs For Chinese numerology, you'd want 666.
Sevens are a massive number in Chinese numerology: The 7 parts (yin/yang/metals), the 7 steps, 7 captures, etc. Eights are symbols of prosperity, wealth, generosity, good fortune in business, etc. Six is a kinda useless number for money -- Smoothness and whatnot are less for money and more for one's tongue. You'd name a wine after a six (I've seen "Dice Wine" referring to 6-sided dice) but not look for it in bills
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When you use a debit card, the amount is immediately deducted from your checking account and you can check to see how much you have left by logging into your account.
Yes, but do you do this every time you take the card out?
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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…
Hard to say what their reasoning is. It could be pressure from the credit card companies. Or it could be that someone at the mint decided they don't like the idea of people gaming the system.
At the end of the day, it's not a positive-value economic activity. And if enough folks started buying coins for face value just to churn credit card points, there would be financial losses for the mint/and-or the credit card company.
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The printed design has remained the same but the form factor has been pretty static for the last century or so. Things like bill readers are a big reason for that once they appeared it became a lot harder to swap around bill shapes.
I remember hearing that the Susan B Anthony dollar coin failed because there was no extra position in the coin drawer of cash registers to put it in. Can you image if every cash drawer now has to be redesigned to have different sized bills? (I know, I know, it's not actually that big a deal. The drawers have removable inserts, but you get the point of it.) (actually, on second though, automatic bill readers in vendin…
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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…
Printing is just not very expensive, relative to the size of the US economy. People like the $1 note. I just don't think it's going to happen for another 2x-4x reduction in the value of the note. 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 out…
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I have a jar of quarters from throwing my change in it. No silver quarters, ever. And yah, I can spot a silver one immediately. The color and feel is different, and the edge of course is the dead giveaway.
I don't know what to tell you, the last 3 times I've changed a five at the car wash there's been at least 2 high silver count quarters in the pile, with a peak of 5.
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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.
Blowing $10 on entertainment hardly makes anyone a fool, though. It's $10 worth of novelty for $10.
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Sevens are a massive number in Chinese numerology: The 7 parts (yin/yang/metals), the 7 steps, 7 captures, etc. Eights are symbols of prosperity, wealth, generosity, good fortune in business, etc. Six is a kinda useless number for money -- Smoothness and whatnot are less for money and more for one's tongue. You'd name a wine after a six (I've seen "Dice Wine" referring to 6-sided dice) but not look for it in bills
For those who are interested: the Chinese character for 8 is a pair of downward lines, close together at the top, far apart at the bottom. Looks a bit like / \. The idea behind it, as far as I know, is that it represents things growing larger, which is why it is of interest where wealth is concerned.
You can just display the character, 八.