• derf82@lemmy.world
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    8 months ago

    This has been studied. The US uses a higher quality paper that lasts an average of 7 years. So it is actually cheaper than minting coins. In other countries that switched to coins, singles only lasted a year or two.

    There is nothing stopping people from using coins now. People just don’t like them.

    • KevonLooney@lemm.ee
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      8 months ago

      They’re also heavy in your pocket and don’t fit in a standard cashier’s drawer. There aren’t enough slots.

      The real good idea would be getting rid of pennies and nickels. Those are only useful for giving stores a few extra cents in profit. They set prices at $4.99 instead of $5 so you buy more. Without pennies, they’d have to set the price at $4.90 and lose 9 cents.

      • derf82@lemmy.world
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        8 months ago

        Yeah, the US once has a half penny. Adjusted for inflation, it is worth more than a nickel is today when it was eliminated.

        But I don’t think that will give us a 9 cent discount.