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 Replies: 13 / Views: 1,846 |
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Valued Member
Australia
56 Posts |
What costs more to make? A coin or note?.
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Pillar of the Community
Australia
7096 Posts |
It could not be notes otherwise the US government would be minting instead of Printing  Seriously tho coins are more expensive to produce but they will out live a note 100 fold so in the long run they are the most cost effective way to produce currency for commerce. Anyway a coin has an intrinsic value no matter how small whereas a note is only paper or plastic ( polymer ) and has no intrinsic value whatsoever. Edited by trout1105
09/22/2012 01:01 am
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Valued Member
 Australia
56 Posts |
It's funny that coins face value are less than the face value of notes. It should be the other way round!
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Pillar of the Community
Australia
7096 Posts |
Quote:
It's funny that coins face value are less than the face value of notes. It should be the other way round!
Banknotes are a relatively new phenomena as far as money goes. China used paper money from 806AD to 1455 due to a shortage of copper, in the mid 1600's Europe and America started to use paper money that was tied to the price of gold/silver, This is NO longer the case. For centuries coins were the main form of money because they had an inherent value due to their metal composition. In the mid 40's silver was debased in most countries and in the 60's was removed from circulation altogether. At the end of the day our money is only as good as our governments promises are. That to me is a little bit scary  Edited by trout1105
09/22/2012 02:04 am
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Moderator
 United States
14463 Posts |
Quote:At the end of the day our money is only as good as our governments promises are. That to me is a little bit scary These days, it can be scary for everyone.  |
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Moderator
Australia
16837 Posts |
Australian polymer notes are more expensive than American paper notes, but they're still cheaper than coins. especially given that coins with as high a face value as AU$5 need all kinds of fancy security things on them and in them to deter counterfeiting, which all adds to the cost of production. By comparison, adding anti-counterfeiting mechanisms to notes is relatively cheap and painless.
Back in the 1990s, the Mint was lobbying to replace the paper $5 note with a bimetallic coin. In the end the government opted to replace the paper $5 note with the polymer $5 note instead, at least partly because it was cheaper.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
Australia
1040 Posts |
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At the end of the day our money is only as good as our governments promises are.
That to me is a little bit scary Yeah,i noticed an Economist during the GFC stating the full ramifications of Counties printing Notes/Money without Gold/Silver backing is not fully understood especially in a global sense. |
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Pillar of the Community
Australia
762 Posts |
Quote:
It's funny that coins face value are less than the face value of notes. It should be the other way round! I assume that is because coins cost more to make than notes. It is true that coins in the past were made of precious metals so that their intrinsic value was close to their face value. The original English term "one pound" referred to a pound of silver. That's all changed now though. Modern money effectively has no intrinsic value. It's all just a promise to pay the bearer. |
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Pillar of the Community
Australia
507 Posts |
Savour "money" while it is still around, as numbers in an account have less "intrinsic" value than notes or debased coins, and you know the relentless move is towards fully traceable electronic transactions...
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Valued Member
Australia
56 Posts |
Will we be collecting screen shots of our accounts online?
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Formerly nancyc
Australia
5385 Posts |
life is a mystery to be lived not a problem to be solved
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Pillar of the Community
Australia
507 Posts |
We'll know you're hooked when you transfer 47 cents so you can achieve a 6 digit radar lol
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Pillar of the Community
Australia
852 Posts |
If we go to electronic money will that mean that bank errors on my monthly statement will be as collectable as my mules and double strikes?  At least with stacking coins (especially Ag and Au) I know that there can be no bank errors (accidental or planned  ) to wipe out my savings. BTW it doesn't really matter if coins or banknotes are cheaper to produce as it is far cheaper for them to create electronic money (%#!@&*  ) to cover the trillions owing. |
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Valued Member
Australia
56 Posts |
I just find it interesting that something that costs so much to make (coins) have far greater less value than notes.
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Replies: 13 / Views: 1,846 |
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Posted 09/22/2012 01:46 am
