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Replies: 32 / Views: 5,605 |
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Valued Member
New Zealand
72 Posts |
Has there ever been a move in the US to use the plastic style notes that are used in a lot of the other countries in the world? I saw that movie Mad Money and saw how much worn out paper money gets destroyed and it seems an awful lot, would plastic (Polymer I think its called) be more durable?
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Valued Member
United States
58 Posts |
Nothing that I have read. Even when well worn our notes hold up fairly well under normal use.
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Valued Member
United States
484 Posts |
closest I'm aware of is a plastic credit card. I've used them world wide, except in some REALLY out of the way places. I'd be OK with them though. I've seen enough of them from other countries that I'm sure it would be no big deal for us to migrate to them-from the public point of view. Now changing the printing presses over is another thing that I'm sure the BEP and Fed reserve banks would like to put off for as long as possible.
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Pillar of the Community
United States
4691 Posts |
US will not go to polymer notes. They won't work in current machines and it would be too costly to change the machines to accept both types of notes.
Plus there are many overpaid lobbyists representing the paper and ink makers that supply their products to the BEP.
Edited by jimbucks 11/11/2014 12:00 am
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Moderator
 Australia
16806 Posts |
Polymer notes take some getting used to, but yes, in general, they do last longer than paper, or the cotton-linen mixture used to make US banknote "paper".
The cotton lobby fights hard to kill off any efforts to replace the $1 note with a $1 coin. They would fight even harder to kill off any efforts to remove cotton from circulating money entirely.
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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Moderator
 United States
187582 Posts |
Quote: The cotton lobby fights hard to kill off any efforts to replace the $1 note with a $1 coin. They would fight even harder to kill off any efforts to remove cotton from circulating money entirely. This. Although there is probably more lobbying from Crane & Co. than from cotton producers.
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Valued Member
 New Zealand
72 Posts |
that's interesting, thanks for that guys. I always did wonder why the US never switched over. So your notes now have cotton in them? That would make them more durable?
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Moderator
 Australia
16806 Posts |
American "paper" notes have always had cotton in them. Old "paper" British, Australian and New Zealand notes were also primarily cotton-based paper, I believe.
And yes, this is because cotton paper is more durable than wood-pulp paper.
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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Valued Member
 New Zealand
72 Posts |
thanks for that. I do remember the various paper money we had, they didn't last too long, the worst was the last series of $5 note that had the metallic security strip weaved into it, it kept coming loose through use, even out new $5s don't fare so well, a $5 coin would be a nice addition
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Pillar of the Community
United States
1748 Posts |
$5 notes, even in polymer, don't fare so well because they are essentially fractional currency notes. The smallest denomination note in circulation in the US, Canada, Australia and NZ should be the $10 note. It's equivalent to a $1 note of 50 years ago. All we need are 10c, 50c, $1, $2 and $5 coins in circulation.
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Pillar of the Community
United States
589 Posts |
All we need is to (massively) redenominate, put gold and silver back in our currency, and keep denominations and sizes the same...except change out the dollar coin for a good Morgan/Peace sized one. Let the PM's stabilize the currency and economy, and render paper notes something rarely seen in circulation (save for maybe the 1's and 5's)
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Pillar of the Community
708 Posts |
Quote: $5 notes, even in polymer, don't fare so well because they are essentially fractional currency notes. Correct. I have read that $5 bills actually wear out many months faster than even $1 bills. Quote: All we need are 10c, 50c, $1, $2 and $5 coins in circulation. I would agree with this, athough I would also like a 20 cent coin reissued in the U.S. as well. As of now, if it were actually "worth" keeping pennies, I'd say "Reissue the 2 cent coin" because it would cut down on the amount of pennies we would need to carry. But now, as you said, anything below the 10 cent denomination, and the (odd) quarter should be scrapped. While carrying up to four dimes would be okay with me (I do hate carrying four pennies or more though, because of how worthless pennies are, although I still keep them), I'd still want a fifth in between the dime and the half, to lessen the amount of coins I carry. Six coin denominations should be no big deal, right?
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Pillar of the Community
Germany
645 Posts |
I prefer the classic $US made from classic material. The plastic money from Australia, Canada, New Zealand or Romania looks colorful and cheap. New Zealand bills were at the £ times a so beautiful Currency. Perhaps, the most beautiful paper money in their time. Australia and Canada had nice money too. Today, the money there has the charm of play money for kids. Maybe even uglier than our Euro  , and this is not easy.        
Edited by hajduk 11/15/2014 5:41 pm
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Pillar of the Community
United States
1748 Posts |
Hajduk, I love the NZ polymer $5. It actually has a person on it that did something meaningful with his life, instead of a useless politician. Sir Edmund Hillary is an excellent person to have on currency.
To expound further Fox, I'd leave the dime as is, go to a octagonal downsized cupronickel clad 50 cent piece, use the stockpiled $1 coins and temporarily have the BEP print $2 notes until the $2 coin was up and running. Slowly withdraw 25 cent coins until 50 cent stocks were adequate, then retire it. Since our dime is basically equivalent to a cent from the mid 1960's, I'd just have 10c and 50c. We got along just fine without 2 cent pieces for the past 100 years, we could do without its modern equivalent and it would keep costs down. Also, each of the four coins should have a remarkably different tactile feel to help identification of denomination with the visually impaired. I would champion creation of a $500 note in polymer. That note would be equivalent to a $50 note from 1965...and don't put a politician on it. Put the 1969 moon landing on the back of it, for instance. Not a building from DC.
Edited by DoubleEagle20 11/15/2014 6:51 pm
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Pillar of the Community
Germany
645 Posts |
Hi DoubleEagle, I would never say anything against Sir Edmund Hillary. I do not like the colorful playful bills. It does not have the charm of real money. Who can blame me that my taste is somewhat conservative? My main field of collecting are old US Dollars. :-) The Americans were never particularly progressive in the graphic design of money. And that's what I like. I see many things differently because I am only collector. It's not the money with which I'm going shopping. I also like the portraits of Washington, Jefferson, Lincoln, Hamilton, Jackson, Grant and Franklin. My favorites are the portraits of Grant and Cleveland. This two portraits are the nicest for me. I am not an American therefor I rate only pictures, not the people. Franklin always looks strangely. But I would rate Mr. Franklin as a person. He was a brilliant man. He was much more than a politician. The theme of space would not be enough personally American for me. The space is a theme for all humans. Americans, Europeans, Russians and Chinese are involved in aerospace. The collaboration will in future also increasingly close. No one wants or can it alone pay. On US military payment bills, the space has already been shown. By the way, the space shuttle was on the first European polymer banknote. The bill is from 1999 and comes from Northern Ireland. That's all a matter of taste. I like the American bills as they are; Classic, somewhat minimalist and simply beautiful. Minimalist is actually not very American but by the money, that underscores the claim to a world currency. For the foreseeable future, the US dollar will remain the dominant world currency. The euro is difficult to calculate due to many different countries. In the United States already come the strangest decisions from Washington DC. At the Euro are 28 capital cities crucial. We are not the United States. We speak different languages, have totally different cultures, flags and above all still national interests. The only country that could be important for money is China. They are not so communistic and they are not stupid. They have still millions of migrant workers and vast tracts of land which is underdeveloped. The Chinese will keep the yuan remains weak and continue to flood the world with cheap products. Other alternatives I do not see. Logical consequence, the US dollar remains for at least another 30 years the first world currency. I could very well imagine on a new American bill the Statue of Liberty and scenes from typical US land lines. The Rockies, farms in the Midwest, snow-capped mountains, a desert scene, marshes in the south ... your have a big, beautiful country with so many facets. Bills are like business cards, they will show you who you're dealing with. Here are images on the subject of space on bills. Sorry for my bad English.I hope that you can understand everything well. My English is bad...  
Edited by hajduk 11/15/2014 9:29 pm
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Pillar of the Community
United States
1748 Posts |
No worries on your English, I can understand it well. I am a native speaker of it and even I won't say I am proficient ...lol I'd love to see a "scenes of America" on our next notes. Hard to say if we will stay with cotton paper though. I have read of counterfeiting problems with our new 100 note already. The polymer notes are different, for certain. They do seem a bit play money like but they are really hard to counterfeit. However, the U.S. and Japanese seem not to want to rush to polymer. The yen is still on paper as well. Perhaps it is a bit because we are still the major reserve currency and want to have a consistent "look and feel". I know that is why they keep using the green ink reverse on the US dollar. (Aka greenback).
Edited by DoubleEagle20 11/16/2014 02:30 am
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Replies: 32 / Views: 5,605 |