Sunday, December 23, 2012

Change We Can't Believe In

What the heck do you do with a penny? The one cent coin is certainly more of a disincentive to commerce than the reverse. Nickels, dimes and quarters are little better - I mostly spend them only on junk from the coke machine. Most of us hate walking around with a pocket (or pocket book) full of metal. We can, and should, get rid of the one and five cent pieces immediately. Dime and quarter may need to wait for electronic money.

On the whole, brick and mortal businesses would benefit. Many of their transactions require use of coins, while none of those of on-line stores do. Vending machines would adapt.