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Old July 3rd, 2015, 03:58 PM   #32161
g.spinoza
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Quote:
Originally Posted by italystf View Post
The economic advantage of coins is that they last pratically forever
But they're much costlier than notes, especially with regards to their face value... some coins are worth more in pure metal and production costs than their face value...
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Old July 3rd, 2015, 04:10 PM   #32162
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Wow, that's even less valued than the 50 peseta cents coin I have somewhere (nominally €0.003, but since Spain got rid of peseta cents by the 80s, I think its value today would be close to that).
0.10 and 0.20 SIT coins were never in circulation though. They minted them, but immediately decided not to put them in circulation. 0.50 SIT coins (0.002 EUR) were in circulation for a few years though. Then they fell out of use, but I still had a ton of them at home (they accumulated because I was never using them). One day I trolled a saleswoman at a nearby store with one of them. Something cost (for example) 150.74 SIT (I have no idea why they used decimals). She said "151 SIT, please" (as they always would). I gave her 150.50 SIT. She looked at it and said "Is this still valid?" I replied "Sure, why not?" Then she said "ok, but it's 151 SIT, not 150.50". I replied "150.50 is closer to 150.74 than 151 is". She gave me an angry look and accepted it.
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Last edited by Verso; July 4th, 2015 at 03:17 AM.
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Old July 3rd, 2015, 04:15 PM   #32163
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I'm always annoyed by the € 0.01 and € 0.02 coins I get as change on vacation. I never use them, they just hog your wallet.
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Old July 3rd, 2015, 04:28 PM   #32164
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I save coins below € 0,50 until I have enough to make couple Euro, then I go to the supermarket and annoy the cashier dumping the stack of coins on a small grocery purchase.

I have a coin organizer for that though.
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Old July 3rd, 2015, 04:29 PM   #32165
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I have a big vase at home filled with these coins.
I have to count them someday, I think there is some value there
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Old July 3rd, 2015, 04:29 PM   #32166
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Old July 3rd, 2015, 04:36 PM   #32167
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Quote:
Originally Posted by cinxxx View Post
I have a big vase at home filled with these coins.
I have to count them someday, I think there is some value there
I used to do this as well, but it's really unnecessary. Just use them every time you can and they won't accumulate. Cashiers will be happy too.
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Old July 3rd, 2015, 05:41 PM   #32168
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Quote:
Originally Posted by Suburbanist View Post
I save coins below € 0,50 until I have enough to make couple Euro, then I go to the supermarket and annoy the cashier dumping the stack of coins on a small grocery purchase.

I have a coin organizer for that though.
In my french bank they have a very nice and usefull machine : you just trow your coins and the machine count them and it will be credited on your account. No need to calculate how much you have and how you can use them...

Also in France the law is telling that you can't pay with more than 20 coins, so it's harder to use the small coins except for everyday purchases (like baguette )...
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Old July 3rd, 2015, 05:43 PM   #32169
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Quote:
Originally Posted by Verso View Post
I used to do this as well, but it's really unnecessary. Just use them every time you can and they won't accumulate. Cashiers will be happy too.
Everytime I can, I use my credit card, so I don't get my pockets full of them, and it works!

And thankfully to the contactless payment who is curently being deployed (even in Romania ), this is even easier!
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Old July 3rd, 2015, 05:57 PM   #32170
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Quote:
Originally Posted by g.spinoza View Post
But they're much costlier than notes, especially with regards to their face value... some coins are worth more in pure metal and production costs than their face value...
Only 0,01€ and 0,02€ cost more than their face value, and we could stop minting them or make them with cheaper material.
Quote:
Originally Posted by Verso View Post
0.10 and 0.20 SIT coins were never in circulation though. They minted them, but immediately decided not to put them in circulation.
I have these two in my collection of foreign coins (all cheap stuff purchased years ago in a lot at a flea market). Maybe they are a rarity as they were never put in circulation.
Quote:
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Also in France the law is telling that you can't pay with more than 20 coins, so it's harder to use the small coins except for everyday purchases (like baguette )...
I think it's 50 coins (it's an European law).
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In real life, electronic toll collection was first introduced in Bergen, Norway in 1986, and well into the 21th century many countries still struggle to implement it.

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Old July 3rd, 2015, 06:23 PM   #32171
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Quote:
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In my french bank they have a very nice and usefull machine : you just trow your coins and the machine count them and it will be credited on your account. No need to calculate how much you have and how you can use them...
We have them in Blighty too. Banks have their own machines but you find Coinstar machines in supermarkets. Mind, in true British rip-off style, they charge you 9% commission on the amount you change.

If you have an account with the bank who's machine your using, you don't get charged and have the option of cash or depositing it into your account.
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Old July 3rd, 2015, 06:25 PM   #32172
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Quote:
Originally Posted by italystf View Post
Only 0,01€ and 0,02€ cost more than their face value, and we could stop minting them or make them with cheaper material.
Fives also, they cost somewhere near 0.57€
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Old July 3rd, 2015, 08:53 PM   #32173
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Quote:
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I think it's 50 coins (it's an European law).
You're right!
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Old July 3rd, 2015, 09:04 PM   #32174
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I don't get these costs of money manufacturing. I don't think it is (should be) related to how much particular coin or banknote is actually worth. Producing it is simply one of the costs that the bank (ECB?) has. So what if making 0,05 € coin costs more than it is worth, making a banknote of 500 € doesn't nearly cost 500€, coins also last longer.

whole money printing and putting it into system is a mystery to me one must also consider that with every cent printed/made, euro is worth less because there are more euros out there than the economy is actually worth.
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Old July 3rd, 2015, 09:34 PM   #32175
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Shark,shark !!
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Old July 4th, 2015, 01:43 AM   #32176
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Quote:
Originally Posted by italystf View Post
I have these two in my collection of foreign coins (all cheap stuff purchased years ago in a lot at a flea market). Maybe they are a rarity as they were never put in circulation.
I had to buy the 0.10 SIT coin too, but once I got the 0.20 SIT coin somewhere in early '90s (but I don't know where, I only noticed it at home). I've had it for over 20 years now. Most Slovenes probably weren't even aware of their existence.

Last edited by Verso; July 4th, 2015 at 02:13 AM.
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Old July 4th, 2015, 02:12 AM   #32177
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How 'bout this?


http://www.leftovercurrency.com/bank...an-tolars2.php

It was never in circulation though.
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Old July 4th, 2015, 02:16 AM   #32178
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When Yugoslavia disintegrated, what was the sequence of new currency introductions? The same as the sequence of countries leaving Yugoslavia (Slovenia, Croatia, Bosnia, Macedonia, Montenegro?)
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Old July 4th, 2015, 02:53 AM   #32179
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Old July 4th, 2015, 04:36 AM   #32180
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Quote:
Originally Posted by italystf View Post
When they were working for the adoption of the euro, back in the late 90s, Italian government proposed 1€ and 2€ notes instead of coins. In Italy the biggest coin was worth 0,52€ (1000 ITL).
However, most developed countries today use high-value coins: 2€, 2£ in UK, 2$ in Canada, 500 Yen in Japan, 5 CHF in Switzerland. The USA is an exception, as they like to keep the 1$ bill, but they have the 1$ coin too.
The economic advantage of coins is that they last pratically forever (until the country changes currency or type of coins), while notes need to be replaced when they are worn (and vending machines won't read them).
In Canada they replaced $1 bill with $1 coin (loonie) in 1987
They replaced $2 bill with $2 coin in 1996
I remember the change and nobody was happy with it, but eventually accepted it.

US has a kind of democratic sensibility that stops it from forcing things like this on a population that doesn't want it (same thing as like happened viz. metrication in US) I can't say it's a bad thing.

If you drive in Chicago area there are a lot of toll motorways that accept only coins, and are mechanical (no person) and the toll is always like $1.50 so you need these ******* dollar coins. But nobody has them, and I never even saw one before I ended up there
Ended up I just didn't pay the toll and hit the gas to drive away
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