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Posted 06/06/2024 8:16 pm
Quote:
Do you think that the increasing use of electronic payments has meaningfully helped to extend the life of the older coins in circulation?
Do you think that the increasing use of electronic payments has meaningfully helped to extend the life of the older coins in circulation?
Yes and no.
This has been increasing for many years and the velocity of coins is decreasing substantially. This means fewer and fewer are going to become worn out but at the same time loss and attrition are increasing as the coins lose their value to inflation.
Wear has been a relatively minor cause of attrition even for the old quarters that experienced substantial wear because most were lost before they had to be withdrawn for being too thin.
Time don't fly, it bounds and leaps.
