Cash..... Reports Of Its Death Are Greatly Exaggerated?

Meanwhile, in Sweden ...

Sweden's Push to Get Rid of Cash Has Some Saying, 'Not So Fast'

Cash is disappearing in the country faster than anyone thought it would. Now, officials are trying to slow its demise as they determine the societal costs.

https://www.nytimes.com/2018/11/21/...society.html

Cheers,

/s/ ikeyPikey

Interesting article. Thank you for sharing.


That used the be the norm at the coin show, but it seems like more and more dealers are taking electronic payments now. I do not mind paying electronically on ebay, but the coin show is a place I still prefer using cash.

Here in Massachusetts, all retailers are required to accept cash:

https://malegislature.gov/Laws/Gene...D/Section10A

It's an anti-discrimination law from the 1970s. It's an important law that protects those among us who (for whatever reason) don't have credit cards, or can't pay-by-phone etc.

Technology is great but it's not infallible. Anyone here live though a blackout or hurricane or wildfire lately? Remember NYC a few years ago when half the city was in the dark for days? Cash is king.

An interesting problem with using cash is how many credit card companies give you money to use theirs. For example Bank of America has a card that gives you 1%, 2% and 3% on all purchases. This accumulates in your records and when it becomes about $25 you can transfer it to a savings account and for that they give you an additional 50% more. So to use cash, you actually loose money. Many credit card companies are doing similar promotions. Ever try to rent a car using cash. By me all such rentacar companies require you have a credit card. You really have to be great at math if you travel to other countries trying to figure out prices there compared to ours.
And then too there is the weight factor. By that I mean you can carry a card that gives you the use of thousands of dollars. Try carrying that much cash.

@just_carl, yes, you do get cash back, but the merchants have to pay a few % back to the CC company. Perhaps we pay more, or perhaps the merchant absorbs it.

So we have to play the game or we are losers, or maybe just not as much as if we used cash.

I for one have just resigned myself to playing the game and get my cash back.

A very unfortunate problem with using a credit or debit card is there is that record somewhere of what you purchased. Remember this when you buy coins, stamps, guns. knives, ammunition, jewelry, or any item of value to others. I worry about this with guns. By me there is this constant attempt to confiscate guns from every one and a record somewhere of you having one is possibly all they need. And with coins, who knows who has such information. With the internet having so many personal search web sites, people know longer can even hide where they live anymore.

But then there are cameras... Think Minority Report.


Yup, the upshot. Embrace it.

I have a ten year old. I also have local nieces and nephews ranging nine to 16.

Sorry to disappoint, but cash is the exception. To be sure, cash is still needed, but needed less and less it seems.

Almost everything school related can be paid online and electronically now, even fundraisers (which kills my I have no cash excuse).

While the kids gladly accept cash for birthdays and holidays (free money is free money and is still what the grandparents do best), they still need the parents to deposit it so they can use online for their purchases. Everyone is happier getting/giving gift cards and to be honest, it is so much easier.

Oh, and the babysitter takes Venmo.