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<p>[QUOTE="cladking, post: 1533664, member: 68"]Like everything reported in the press the story is confused and ambiguous. But the author strongly implies the shortage is not limited to 1f coins;</p><p><br /></p><p>"But the Central Bank is adamant there are plenty of small-value coins in circulation: as of last month, three million 1 fils, nearly 40 million 5 fils and 45 million 10 fils coins, worth nearly Dh7m in total.</p><p><br /></p><p>So where are they all?"</p><p><br /></p><p>The 1f coin is even more impossible to circulate because for one thing it has no value at all as currency; the value is only about a quarter of a cent which wouldn't pay for the food needed to lift your arm to tender it and even worse is that it has twice as much copper per unit value as the 10f. </p><p><br /></p><p>Without government interference such coins can't circulate. Imagine if the US started making golden dollars out of solid gold tomorrow. How many of these would you get at Walmart? </p><p><br /></p><p>My guess is that the banks don't issue the coins because they are worth too much to "sell" for only face value. It's too profitable for the stores to round up to 25f and the people don't care enough to make waves.[/QUOTE]</p><p><br /></p>
[QUOTE="cladking, post: 1533664, member: 68"]Like everything reported in the press the story is confused and ambiguous. But the author strongly implies the shortage is not limited to 1f coins; "But the Central Bank is adamant there are plenty of small-value coins in circulation: as of last month, three million 1 fils, nearly 40 million 5 fils and 45 million 10 fils coins, worth nearly Dh7m in total. So where are they all?" The 1f coin is even more impossible to circulate because for one thing it has no value at all as currency; the value is only about a quarter of a cent which wouldn't pay for the food needed to lift your arm to tender it and even worse is that it has twice as much copper per unit value as the 10f. Without government interference such coins can't circulate. Imagine if the US started making golden dollars out of solid gold tomorrow. How many of these would you get at Walmart? My guess is that the banks don't issue the coins because they are worth too much to "sell" for only face value. It's too profitable for the stores to round up to 25f and the people don't care enough to make waves.[/QUOTE]
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