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From: wmartin@brl-tgr.ARPA (Will Martin )
Newsgroups: net.invest
Subject: Re: The Coming Currency Recall (and counterfeiting)
Message-ID: <1483@brl-tgr.ARPA>
Date: Fri, 13-Sep-85 14:50:29 EDT
Article-I.D.: brl-tgr.1483
Posted: Fri Sep 13 14:50:29 1985
Date-Received: Sun, 15-Sep-85 05:42:53 EDT
References: <245@cylixd.UUCP> <1472@cbosgd.UUCP> <638@bu-cs.UUCP>
Reply-To: wmartin@brl-tgr.ARPA (Will Martin (DRXAL-RI) )
Organization: USAMC ALMSA, St. Louis, MO
Lines: 42

In article <638@bu-cs.UUCP> root@bu-cs.UUCP (Barry Shein) writes:
>What always struck me as strange was that small denominations are struck
>in metal and large on paper. Reversing that would make counterfeiting a
>lot harder (or at least unprofitable) and would make more sense (to me
>anyhow, being as the coins I assume are more expensive to produce.)  Do
>some countries do this? Or am I missing something?
>	-Barry Shein, Boston University

The problem comes when you have to carry the money about. Let's say you
get ready to go out for an expensive night on the town, dress up in your
tight-fitting fancy Italian suit, and slip a $500 goldpiece in your
pocket for spending money. All fine so far. At the first stop of the
night, you spend $75 and pay with your single goldpiece. You are given
4 $100 goldpieces and 5 $5 bronzepieces change. And so on through 3 other
stops, by which time you have baggy pockets  full of various metal
chunks, and you clink loudly as you stagger about...

Paper money is just more convenient and easier stashed (also thereby
safer -- try hiding a few goldpieces in your shoe the way you can
a few bills). That's why men now carry inside wallets instead of purses
on their belts, the way they used to in the olden days (and why
pickpockets had to evolve from "cutpurses").

Of course, there are counter arguments:

1) the credit card -- no cash needed. We then get into the whold EFT and
privacy issue, plus those who can't qualify or have objections to credit
(or debit) cards. It does reduce the capabilities of the underground
economy, which some would like and others dislike...

2) change fashion -- no more inside-pockets wallets, all people carry
purses or belt pouches (as we once all did, you know), and thus can haul
coins.

I don't know -- I find paper money convenient, and, so far, never have
encountered counterfeit money (that I know of :-). I would accept
non-paper substitutes (maybe that tough plasticized paperoid stuff they
make those reusable mailing envelopes from?) in all sorts of odd colors,
though, just as well. The foldability and thinness is the important
factor. It will be hard to overcome the present trend and go to coins.

Will