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$2 Bill Vs. $2 CoIn
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<p>[QUOTE="andyscouse, post: 1202235, member: 27100"]As in many other places, when a note & coin are both legal tender, people will still use the note and not the coin. Only when the note is no longer printed (or demonitised) will the coin be used -- and from then on, there isn't a problem. Case in point being the UK. The £1 coin was minted in 1983, but until the end of 1985, it was very rarely seen, because the £1 note was also circulating. The £1 note was last printed in December 1984, and demonitised at the start of 1988. It was when the existing £1 notes started to get really tatty (lifespan of about 9 months) in 1985/86 that the £1 was accepted and used - the [until then stockpiled] 1983/4/5 coins came out in force. The note was finally demonitised in Mar 1988, by which time there were very few left in circulation. So, no problem remained, and the £1 coin is one of the most popular denominations there. It has been minted every year since then in sets, with 1998/99 being the only years not minted for circulation.</p><p><br /></p><p>Also to bear in mind: A new 20p denomination was introduced the year before (1982), but because a) there was no equivalent note and b) there was a need to fill in the large gap between 10p and 50p, it was successful from the start.[/QUOTE]</p><p><br /></p>
[QUOTE="andyscouse, post: 1202235, member: 27100"]As in many other places, when a note & coin are both legal tender, people will still use the note and not the coin. Only when the note is no longer printed (or demonitised) will the coin be used -- and from then on, there isn't a problem. Case in point being the UK. The £1 coin was minted in 1983, but until the end of 1985, it was very rarely seen, because the £1 note was also circulating. The £1 note was last printed in December 1984, and demonitised at the start of 1988. It was when the existing £1 notes started to get really tatty (lifespan of about 9 months) in 1985/86 that the £1 was accepted and used - the [until then stockpiled] 1983/4/5 coins came out in force. The note was finally demonitised in Mar 1988, by which time there were very few left in circulation. So, no problem remained, and the £1 coin is one of the most popular denominations there. It has been minted every year since then in sets, with 1998/99 being the only years not minted for circulation. Also to bear in mind: A new 20p denomination was introduced the year before (1982), but because a) there was no equivalent note and b) there was a need to fill in the large gap between 10p and 50p, it was successful from the start.[/QUOTE]
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