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Tuesday, March 12, 2013

Buck

I was buying a bucket of diet soda at a mini mart the other morning, and when it was time to pay, I reached in to my wallet and found the smallest thing I had was a $20 bill.

No, I'm not rich.  It just worked out that I had already spent my smaller bills.

As the clerk was fanning a huge amount of singles into my hand as change, I asked if people use those gold dollar coins that were introduced several years ago.

The clerk explained he had a drawer full.  No one wants them.  He added "We can't give them away.  Do you want some?"  I assumed they weren't free, so I declined.  The bills were okay.

The dollar coin will never be a success until the dollar bill goes away.  People like paper money, so I can't see that happening any time soon.  It does make economic sense.  Coins last longer than bills.  I'm not sure if it makes convenience sense.  The republic wouldn't fall if dollar bills went away.  We'd adjust.

I'm seeing people whip out credit and debit cards for even the tiniest of purchases these days, so it's likely just a matter of time before all paper money disappears.