Is money in hand doomed

Andy and Speedy are right. There is a much less common use of dollar bills and change in the market place. Especially with the use of credit cards and checks and tollway passes. It will be interesting to see what, if any, roll money will take on in our society in the next 100 years. by then I would totally be suprised if actual currency was still used and if plastics and fingerprinting wheren't the best way of money transaction.

 

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A great Aussie solution
CSIRO and Note Printing Australia (part of the Reserve Bank of Australia) developed polymer money. The world's first polymer banknote was the $10 commemorative note issued in January 1988 to mark the Australian Bicentenary. By 1996, all Australians were using plastic money, and that doesn't mean whipping out their credit cards! The new bills are much more durable and have proven a challenge for conterfeiters.

How does it work?
Australia's plastic money is made of a non-porous polymer with a specially developed protective coating so the notes stay cleaner and don't absorb moisture. They last on average 4-5 times longer in circulation, with the plastic $5 note lasting for around 40 months, compared to 6 months for the paper $5. After it does wear out, polymer money is recycled into plastic products such as compost bins and plumbing fittings.

The polymer substrate behaves a lot like paper and conventional printing techniques are used to apply ink to the surface. The major security measure is a see-through window which makes the plastic money difficult to reproduce using photocopiers and scanners.

The future
Australia was the first country to have all polymer banknotes, but the rest of the world is starting to follow our lead. Note Printing Australia has produced banknotes for Thailand, Indonesia, Papua New Guinea, Kuwait, Western Samoa, Singapore, Brunei, Sri Lanka and New Zealand.

Blank polymer substrate is also sold to a number of countries that print bank notes using their own facilities. The material is supplied by Securency Pty Ltd, a joint venture between the Reserve Bank of Australia and Union Chemie Belge, a Belgium based chemical firm. Together with CSIRO, they are pushing towards better polymer substrates and new tricks to outsmart counterfeiters.

Mexico also issues a $20 plastic note

De Orc

 

Plus, how often do you walk along the sidewalk and pick up a quarter off the ground? If you picked up a credit card, you have to give it back.

 

CoinTalk posters are probably amongst the top five percent of the world's citizens in terms of income and education. I use a credit card for nearly everything. Do you guys really expect plastic and electronic payments to "take over" the Third World anytime soon? There will always be a need for a non-electronic medium of exchange. Always.

 

I have given thought to that quickdog. About the lack of intrastructure and high levels of proverty then again I could see a movement to build the intrastructure with people like Bono leading the charge unknowningly helping the new world order crowd, nations without borders till no nations at all, Think about it. Being a dictator or a collection of world power elite and being able to keep track of anyone you want by following their spending pattern in terms of location and items.

 

Now it seems that a large percentage of the posters could see the possibility that the coin in hand, dollar in pocket days could be numbered.
If this does come to be the next question would be how would if affect our hobby.
Which coins collections would thrive, if any, and which ones would be melt bullion?

 

Everything collected today will continue to be collected. Coins, medals, exonumia, commemoratives of all types will continue to be produced by someone because there is a market for it. Probably not that much will change.

 

I couldn't agree more, and I'm sure nothing will change while I'm still collecting. Now down the line, things could be different, but I'm betting that most of the really nice collections will still be in tact for any number of years, no matter what form of exchange takes place in the future.

 

Forget about the rest of the world. Money, as we know it, will never disappear from places like Placerville, California. The volume of electronic transactions will certainly grow, and laws will be piled upon laws, but there will always be violins made of wood, real corks in wine bottles, privately held firearms, and coins in the pockets of sensible people. :hail:

 

Well this is right up my alley. Worst case scenario's. I have been saying to my friends and co-workers for many years that they need to stop and think about the fact that what is in thier pocket is pretty much worth nothing! All that embrace this age of change could be in for a rude awakening.

The majority still believe that if the market were to crash, they could quickly go to thier local bank and if they are the first to get there, can pull out all thier money. Wrong! It's not There people!

Then you would be left with this monopoly money in your pocket

I know that just like the 401k, stocks, ect. , People have made money from investing in Gold Bullion Coins. But did you know that many of these people never even touch these coins? That is one of the funniest things I have ever heard!

I am old fashioned. If I buy Gold Bullion Coins, They will come to me, sit in my safe, or get buried in a field by a tree that looks like the Morgan profile every 3rd Saturday of February and July 5th , Depending on the weather. In a safe wrapped in Plastic wrap, of course a pistol inside and outside the safe!

Let's not forget my Bullit-proof vest made out of 1921 Morgan Dollars in about good condition.

I used to put an old coin in circulation just for the fun of it. I would take an old Buffalo or Wheat penny out there, just because I knew someone would find it and maybe peak thier curiosity. Not today! The best I can do is drop it on the ground and hope someone finds it, because almost none of the youth out there has a clue what anything is.

 

Hope you right but I could see it now, signs saying "Sorry no cash payments accept" as being part of the near future leading to the conculsion that I had already suggested.
Now what would fare better in the future,
1. Silver coin collections pre 1900.
2. Silver coin collections post 1900.
3. US gold coins.
4. World Gold coins.
5.Commerative coins.
6.Series coins like the state quarters or the presidents.

I think that coins will still be collected in the future if there is no money. So this is definity not an alarmest post. After all people sit collect Roman coins and without counting the Catholic Church it is long gone.

 

By God, he has it! The perfect Christmas or Hannakah gift for a rabid coin collector who lives in one of the dangerous urban environments.

A bullet-proof vest made from Morgan Dollars, made specifically for coin dealers! You guys, were you to be wearing such a magnificient vest, would dance around the gunfire like Beau Jangles for fear that a well-placed round might damage one of those fancy coins in the vest. No good coin collector would ever be hit in the torso with the Morgan Dollar Vest.
:high5:

 

I got the vest from a documentry I saw about the Gold rush. I do not have all the info off the top of my head, but they say it's when they date the first bullit-proof vest. Some guy used lots of gold coins as a vest so he could carry the max amount on his person :smile

 

My great-grandfather Frank Herbert Gibbs wore something like that when he delivered enough gold to a remote timbering operation on the Upper Peninsula Michigan to pay the company loggers. Apparently, the snow was so deep (mid-1800s)that the company could not get through with secured supply wagons.

My great-grrandfather was hired to bring the cache of gold coins in on horseback. When he finally arrived with his Indian guide, the guide was socked to see great-grandfather pull off a money belt full of gold coins. The Indian indicated that he would have killed him had he known that GGF was carrying all that money. GGF said, "I know."

 

Holey Moley, talk abnout the OLD Wild West!

B