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It looks like we have a new $1 note coming out.
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<p>[QUOTE="Numbers, post: 1914189, member: 11668"]I don't even know where to start....</p><p> </p><p><br /></p><p> </p><p>A quarter is 1/4 of a dollar, not 1/25. Likewise a "20" coin would be 1/5 of a whole, not 1/20. Some of the German states actually used reciprocal denominations way back when (a coin with a big "12" on it was worth 1/12 of some large denomination, rather than 12 of some small denomination) but I don't think anyone's used that system in centuries now.</p><p> </p><p><br /></p><p> </p><p>A quarter, dime, and nickel make 40 cents, not 45.</p><p> </p><p><br /></p><p> </p><p>Yeah, and they have a *massive* counterfeiting problem as a result. They're planning to issue a totally redesigned, more secure 1-pound coin in a couple of years to replace all the existing coins. Doesn't sound too cost-effective to me.... Switching from bills to coins looked like a good deal in the '80s and '90s, when metals were cheap and bills were wearing out quickly. Now that metals are more expensive and bills last longer (especially in countries that use polymer), almost no country has replaced a bill with a coin since 2000. And it wouldn't even surprise me to see some of the countries that switched to high-value coins start switching back to (likely polymer) bills at some point....[/QUOTE]</p><p><br /></p>
[QUOTE="Numbers, post: 1914189, member: 11668"]I don't even know where to start.... A quarter is 1/4 of a dollar, not 1/25. Likewise a "20" coin would be 1/5 of a whole, not 1/20. Some of the German states actually used reciprocal denominations way back when (a coin with a big "12" on it was worth 1/12 of some large denomination, rather than 12 of some small denomination) but I don't think anyone's used that system in centuries now. A quarter, dime, and nickel make 40 cents, not 45. Yeah, and they have a *massive* counterfeiting problem as a result. They're planning to issue a totally redesigned, more secure 1-pound coin in a couple of years to replace all the existing coins. Doesn't sound too cost-effective to me.... Switching from bills to coins looked like a good deal in the '80s and '90s, when metals were cheap and bills were wearing out quickly. Now that metals are more expensive and bills last longer (especially in countries that use polymer), almost no country has replaced a bill with a coin since 2000. And it wouldn't even surprise me to see some of the countries that switched to high-value coins start switching back to (likely polymer) bills at some point....[/QUOTE]
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It looks like we have a new $1 note coming out.
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