coltspaesano wrote:I think coins overall are unnecessary. They cost too much to make (not as of right now but like you said, in the future, inflation results in lower currency value while costs of metals maintain or increase. I think if we saved all the metals that go towards coins at the Mint (can't remember what Americans call it...), and instead used those coin metals for things of actual use, it would be better.
If the government feels the need to keep cash around (which I think it should since I only really use cash anyways), then they could just make coins out of plastic or paper (like superior Canadian "funny money"/"monopoly money").
Coins are a waste overall imo (and the cost to replace machines and stuff that take coins will suck but whatever, its a natural part of development)
In that case we may as well abolish all paper money, all physical currency, and move to all-digital. The infrastructure exists, and many adults already use bank-issued cards to handle everyday transactions. The Swedes are all-digital, the Japanese are implementing their system, the Taiwanese aren't far behind. Why can't we step up and move to all-electronic currency? It'll be at no cost to banking institutions or the Federal Reserve to sprout numbers to their hearts' content.
I honestly believe that eliminating any currency is in fact a terrible idea.
There is no avoiding war; it can only be postponed to the advantage of others.
- Niccolo Machiavelli