OT: Coin and Paper Currency [WAS:My request to ubuntu developer team]

[Amedee Van Gasse]

On Mon, November 21, 2011 14:07, Liam Proven wrote:
> On 21 November 2011 04:45, Eric Morey <eric at glodime.com> wrote:

>> Really? You are the one suggesting the the USA make a non-trivial change
>> to their physical currency and related infrastructure.
>
> Yep.
>
> I have watched several countries change their entire currency, and
> although there was lots of behind-the-scenes planning, it actually
> happened literally overnight on 1 Jan 2002.
> http://en.wikipedia.org/wiki/Euro#Introduction_of_the_euro

>> Was the Euro conversion "not
>> difficult at all" in terms of direct costs of converting the physical
>> currency?
>
> Not AFAIK, but I don't live in the Eurozone. Ask Amedee.

I was going to answer that with a link to Wikipedia. ;)

All coins and notes need to be replaced over time because of wear. I don't
suppose that there are still a lot of When you replace all of your coins
and notes at once, they are all new and you don't need to replace them the
first couple of years. So in the long run the cost is negligible compared
to the benefits.



A possible reason why the USA doesn't change 1$ from notes to coins, is
that coins are issued by Congress, while notes are issued by the Federal
Reserve Banks.
In the European eurozone, notes as well as coins are issued by the
national central banks, commissioned by the European Central Bank.