
$100 bill surpasses $1 bill in circulation for first time in U.S. history - hker
https://www.upi.com/Top_News/US/2019/07/31/100-bill-surpasses-1-bill-in-circulation-for-first-time-in-US-history/6391564603260/
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SOLAR_FIELDS
USA could stand to have a major update in how it treats currency. As an easy
example: why is the penny still legal tender and widely used? Every other
first world country had been essentially rid of cent level denominations for
years now. Canada is too easy, let’s instead look at Ecuador who uses USD as
currency. In Ecuador, outside of touristy areas, salary and prices of
everything are in general at most 1/4 of what USA charges. Yet somehow,
Ecuador functions without the penny. All prices are rounded to the nearest 5
cents and Ecuador has not imploded from the rounding issues. Why is it that we
insist on pricing and dealing with pennies? Every other first world country
had adjusted their own currencies accordingly.

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anfilt
Nothing is wrong with a penny, really the problem has been inflation. Like
about a hundred years ago a penny had the same value as quarter today. Given a
enough time with constant inflation a dollar itself will be about like a penny
today. Although, I’ll probably be dead before then assuming no sudden changes.

The dollar could be rebased in that time period to make the units still make
sense. Like 100 “old dollars” equals one “new dollar”. Like we are talking
200-300 years from now to where a dollar that furture year is about the same
value of a penny today. Again assuming no sudden inflation rate changes.

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beatgammit
Sure, but until then, we should phase out useless coinage. I avoid cash
largely because I have having a pocket full of coins. Eliminating the penny
(and preferably the nickel and dime as well) would encourage me to use cash
again.

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jakeogh
Or we could fix the root problem...

