US dollar and its strangeness

firejuggler · 2019-05-24, 16:28

Hear me out :
Here, in europe, our currency is ordonned, and simple , it is divided in 1,2 ,5,10
like we have
1,2,5 cent
10,20,50 cent
1,2,5 euros
10,20,50 euros
100,200,500 euros (the 500 euros one is starting to be seen badly, as it is often used for shady deals)

Whike, in the good'ol USA you have
1,5 cent
10,25, 50 cents
1(in coins or bills),2 (rare, AFAIK), 5 dollars
10,20,50 dollars
100 dollars.

Where the hell is the consistancy?

retina · 2019-05-24, 16:31

Quote:

Originally Posted by firejuggler

Hear me out :
Here, in europe, our currency is ordonned, and simple , it is divided in 1,2 ,5,10
like we have
1,2,5 cent
10,20,50 cent
1,2,5 euros
10,20,50 euros
100,200,500 euros (the 500 euros one is starting to be seen badly, as it is often used for shady deals)

Whike, in the good'ol USA you have
1,5 cent
10,25, 50 cents
1(in coins or bills),2 (rare, AFAIK), 5 dollars
10,20,50 dollars
100 dollars.

Where the hell is the consistancy?

I was once talking to someone from Canada (who also have "quarters") about the coin denominations.

When I said most other places have 20 cent coins, he said "That's weird".

And when I asked did they have $25 notes, he said "No, that would be weird".

Consistency? When people think like that there is no way you will get consistency.

xilman · 2019-05-24, 17:04

Quote:

Originally Posted by firejuggler

Hear me out :
Here, in europe, our currency is ordonned, and simple , it is divided in 1,2 ,5,10
like we have
1,2,5 cent
10,20,50 cent
1,2,5 euros
10,20,50 euros
100,200,500 euros (the 500 euros one is starting to be seen badly, as it is often used for shady deals)

Whike, in the good'ol USA you have
1,5 cent
10,25, 50 cents
1(in coins or bills),2 (rare, AFAIK), 5 dollars
10,20,50 dollars
100 dollars.

Where the hell is the consistancy?

Here in a EU colony we have
1,2,5p coins
10,20,50p coins
£1, £2 coins.
£5, £10, £20, £50 notes.

rogue · 2019-05-24, 17:15

The US does have larger bills, such as $500 and $1000, but new bills of those denominations are not printed. You can find $500 and $1000 bills at coin shows. There are event larger denominations. The US has enough problems with counterfeit $100 bills so it doesn't want to open the country up to counterfeits in larger denominations. You can see some history here.

petrw1 · 2019-05-24, 17:41

Quote:

Originally Posted by retina

I was once talking to someone from Canada (who also have "quarters") about the coin denominations.

When I said most other places have 20 cent coins, he said "That's weird".

And when I asked did they have $25 notes, he said "No, that would be weird".

Consistency? When people think like that there is no way you will get consistency.

CANADA: RIP 1 Cent Coin
5, 10, 25, 50 Cent coins
$1 (Loonie) and $2 (Twonie) coins
$5, $10, $20, $50, $100 Bills

Why 25 cents but 20 Dollars? .... that's a good question for history buffs.

IMHO: I see no use for 1 or 2 cent coins considering the cost to produce vs what they buy (nothing)

Uncwilly · 2019-05-24, 18:05

Quote:

Originally Posted by firejuggler

Whike, in the good'ol USA you have
1,5 cent
10,25, 50 cents
1(in coins or bills),2 (rare, AFAIK), 5 dollars
10,20,50 dollars
100 dollars.

Where the hell is the consistancy?

The USA has had 2 and 3 cent coins (even 1/2 cent and IIRC 2.5 cent coins). There was also fractional currency (note worth less than 1 dollar.) There were both 'nickels' 5 cent coins and 'half dimes', also a 5 cent coin. There also were various 5, 10, and 20 dollar coins in actual use.

And then there are the collector/bullion style coins never meant to be circulated.....

petrw1 · 2019-05-24, 18:15

Reminds me of a joke:

A couple of New Yorker's were driving out in the country to their favorite fishing hole when they noticed an old farmer on the side of the road complete with Allis Chalmers hat, overalls, suspenders and barn boots.
The driver said: "Let's have some fun with the old backwoods codger."
"Hey there sir, I was wondering if you can change a $12 bill.".
He paused, then said: "I'll check in my truck."
The good-old boys snickered as he walked away.
Shortly he can back, holding a tattered wallet and said: "Would you like 3 - $4's or 4 - $3's"

Dr Sardonicus · 2019-05-24, 18:23

Well, at least we're not dealing with British money before decimalization in 1971. The variety of old coins is recounted here. Some of Henry Ernest Dudeney's puzzles were based on the old system.

It's true that the denominations of coins differ from those of bills (notes). I suppose it is possible that the denomination of 25 cents is convenient for making change in amounts less than a dollar, or, more recently, for use in vending machines. I don't know the distribution of dollar amounts for goods and services, but it is possible AFAIK that a denomination of $25 simply is not as useful as a 25-cent coin.

(BTW, the amount 25 cents is sometimes referred to as "two bits," which comes from the Spanish coins known as "pieces of eight." They could be broken into eight pieces, or "bits," and two of them were a quarter of the whole.)

Of course, utility is not consistently a determinant of coinage. The Treasury's offering of $1 coins has generally been met with less than total enthusiasm, leading in recent years to the need to construct new storage facilities to hold the latest unwanted dollar coins, the Sacagawea gold-colored dollar coins. (The Susan B. Anthony dollar coin was really despised, partly because it was the same color, and almost the same size, as the quarter, with which it was therefore often confused.)

The 1-cent coin (penny) is the subject of campaigns for its abolition. It's no longer made of copper, as it was when I was a kid. It's now made mostly of zinc, with a thin copper shell. Still, it costs more to produce than it's worth (the same is true of the 5-cent coin, the nickel). The only thing I know of in recent times that you could buy for a penny was, a kids' horse ride in some supermarkets. They were a penny when I was a kid, too. I think they may be free in some places now. In my experience, a significant proportion of purchases involve a number of cents that isn't a multiple of 5, so if I'm paying cash, pennies are still useful. Canada and Mexico, however, have discontinued the 1-cent and 1-centavo coins.

Half-dollar coins are in circulation, but I don't see them very often. Perhaps they are used in vending machines.

I don't know the story of the $2 bill. It is still in circulation, and bears a portrait of Thomas Jefferson. It has long been associated with small bets at racetracks. I have also heard that, once upon a time, long long ago, two dollars was thought of as the going rate for prostitutes, so the $2 bill was held in disrepute.

Back in the days of the Robber Barons, thousand-dollar bills were in circulation, and legend has it that the very wealthy sometimes burned them to light their cigars.

The current $20 bill bears a portrait of Andrew Jackson, as it has since 1928, which happens to be a hundred years after he was first elected President. The previous Admin's plan to have Harriet Tubman's portrait on the $20 has been stalled by Il Duce's Treasury Secretary Steve "The Foreclosure King" Mnuchin, who says Jackson's portrait will stay on the $20 till 2028.

a1call · 2019-05-24, 18:56

Does anyone here have change for a $1M coin.

It's hard to carry it in one's pocket.
https://www.mint.ca/store/mint/about...6#.XOg9JMhKjWU

I will take it in any denominations you may have.

ATH · 2019-05-24, 18:58

Denmark:

coins:
50 øre (cent)
1, 2, 5, 10, 20 dkk

bills:
50, 100, 200, 500, 1000 dkk
(1000 dkk ~ $150)

Not many years ago we had 25 cents coins and when I was a kid we had 5 and 10 cents.

Uncwilly · 2019-05-24, 19:05

Quote:

Originally Posted by a1call

Does anyone here have change for a $1M coin.

It's hard to carry it in one's pocket.
https://www.mint.ca/store/mint/about...6#.XOg9JMhKjWU

I will take it in any denominations you may have.

How about a Trillion dollar coin:
https://www.forbes.com/sites/kotliko.../#668a4ca76994

2019-05-24, 16:28	#1
firejuggler Apr 2010 Over the rainbow 2³·5²·13 Posts	US dollar and its strangeness Hear me out : Here, in europe, our currency is ordonned, and simple , it is divided in 1,2 ,5,10 like we have 1,2,5 cent 10,20,50 cent 1,2,5 euros 10,20,50 euros 100,200,500 euros (the 500 euros one is starting to be seen badly, as it is often used for shady deals) Whike, in the good'ol USA you have 1,5 cent 10,25, 50 cents 1(in coins or bills),2 (rare, AFAIK), 5 dollars 10,20,50 dollars 100 dollars. Where the hell is the consistancy?

2019-05-24, 18:23	#8
Dr Sardonicus Feb 2017 Nowhere 4,643 Posts	Well, at least we're not dealing with British money before decimalization in 1971. The variety of old coins is recounted here. Some of Henry Ernest Dudeney's puzzles were based on the old system. It's true that the denominations of coins differ from those of bills (notes). I suppose it is possible that the denomination of 25 cents is convenient for making change in amounts less than a dollar, or, more recently, for use in vending machines. I don't know the distribution of dollar amounts for goods and services, but it is possible AFAIK that a denomination of $25 simply is not as useful as a 25-cent coin. (BTW, the amount 25 cents is sometimes referred to as "two bits," which comes from the Spanish coins known as "pieces of eight." They could be broken into eight pieces, or "bits," and two of them were a quarter of the whole.) Of course, utility is not consistently a determinant of coinage. The Treasury's offering of $1 coins has generally been met with less than total enthusiasm, leading in recent years to the need to construct new storage facilities to hold the latest unwanted dollar coins, the Sacagawea gold-colored dollar coins. (The Susan B. Anthony dollar coin was really despised, partly because it was the same color, and almost the same size, as the quarter, with which it was therefore often confused.) The 1-cent coin (penny) is the subject of campaigns for its abolition. It's no longer made of copper, as it was when I was a kid. It's now made mostly of zinc, with a thin copper shell. Still, it costs more to produce than it's worth (the same is true of the 5-cent coin, the nickel). The only thing I know of in recent times that you could buy for a penny was, a kids' horse ride in some supermarkets. They were a penny when I was a kid, too. I think they may be free in some places now. In my experience, a significant proportion of purchases involve a number of cents that isn't a multiple of 5, so if I'm paying cash, pennies are still useful. Canada and Mexico, however, have discontinued the 1-cent and 1-centavo coins. Half-dollar coins are in circulation, but I don't see them very often. Perhaps they are used in vending machines. I don't know the story of the $2 bill. It is still in circulation, and bears a portrait of Thomas Jefferson. It has long been associated with small bets at racetracks. I have also heard that, once upon a time, long long ago, two dollars was thought of as the going rate for prostitutes, so the $2 bill was held in disrepute. Back in the days of the Robber Barons, thousand-dollar bills were in circulation, and legend has it that the very wealthy sometimes burned them to light their cigars. The current $20 bill bears a portrait of Andrew Jackson, as it has since 1928, which happens to be a hundred years after he was first elected President. The previous Admin's plan to have Harriet Tubman's portrait on the $20 has been stalled by Il Duce's Treasury Secretary Steve "The Foreclosure King" Mnuchin, who says Jackson's portrait will stay on the $20 till 2028. Last fiddled with by Dr Sardonicus on 2019-05-24 at 18:25 Reason: Omitted word; fignix spoty

2019-05-24, 18:56	#9
a1call "Rashid Naimi" Oct 2015 Remote to Here/There 3×5×137 Posts	Does anyone here have change for a $1M coin. It's hard to carry it in one's pocket. https://www.mint.ca/store/mint/about...6#.XOg9JMhKjWU I will take it in any denominations you may have. Last fiddled with by a1call on 2019-05-24 at 19:00

2019-05-24, 18:58	#10
ATH Einyen Dec 2003 Denmark 3159₁₀ Posts	Denmark: coins: 50 øre (cent) 1, 2, 5, 10, 20 dkk bills: 50, 100, 200, 500, 1000 dkk (1000 dkk ~ $150) Not many years ago we had 25 cents coins and when I was a kid we had 5 and 10 cents. Last fiddled with by ATH on 2019-05-24 at 18:58

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2019-05-24, 17:15	#4
rogue "Mark" Apr 2003 Between here and the 11×577 Posts	The US does have larger bills, such as $500 and $1000, but new bills of those denominations are not printed. You can find $500 and $1000 bills at coin shows. There are event larger denominations. The US has enough problems with counterfeit $100 bills so it doesn't want to open the country up to counterfeits in larger denominations. You can see some history here.

2019-05-24, 18:15	#7
petrw1 1976 Toyota Corona years forever! "Wayne" Nov 2006 Saskatchewan, Canada 1001001000100₂ Posts	Reminds me of a joke: A couple of New Yorker's were driving out in the country to their favorite fishing hole when they noticed an old farmer on the side of the road complete with Allis Chalmers hat, overalls, suspenders and barn boots. The driver said: "Let's have some fun with the old backwoods codger." "Hey there sir, I was wondering if you can change a $12 bill.". He paused, then said: "I'll check in my truck." The good-old boys snickered as he walked away. Shortly he can back, holding a tattered wallet and said: "Would you like 3 - $4's or 4 - $3's"