tag:blogger.com,1999:blog-5304409.post4931826834965166190..comments2024-03-17T16:17:20.145-07:00Comments on Amit's Thoughts: Sizes of coins and billsAmithttp://www.blogger.com/profile/12159325271882018300noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5304409.post-40324485336357852502017-01-02T04:01:35.985-08:002017-01-02T04:01:35.985-08:00How about a 99 cents coin?
How about a 99 cents coin?<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5304409.post-13651924172322685032016-08-12T16:02:00.288-07:002016-08-12T16:02:00.288-07:00Brendan - thanks for the comment! Yes, I think you...Brendan - thanks for the comment! Yes, I think you and I are different in that I'd rather have more bills of fewer types, and you'd rather have fewer bills. I wouldn't even have $10 bills, but if I was breaking a $20, I'd get 4 $5s, and if I broke a $5 I'd get 5 $1s.Amithttps://www.blogger.com/profile/12159325271882018300noreply@blogger.comtag:blogger.com,1999:blog-5304409.post-54613702357657491752016-07-29T15:04:18.387-07:002016-07-29T15:04:18.387-07:00We should also have a coin worth $2.13 or $2.3X be...We should also have a coin worth $2.13 or $2.3X because a name-pronunciation starting with "two th--" would make it the perfect tooth fairy payoff.lahoskenhttps://www.blogger.com/profile/12011437847555356710noreply@blogger.comtag:blogger.com,1999:blog-5304409.post-24718239401968312362016-07-28T14:18:16.332-07:002016-07-28T14:18:16.332-07:00Actually, 50 cent pieces are mostly out of circula...Actually, 50 cent pieces are mostly out of circulation, but 1 dollar coins are somewhat common. The mint has been trying to replace the 1 dollar bill with the dollar coin for a while, though not very successfully. They also want to get rid of the penny.<br /><br />I think 1, 2, 5 is generally the best sequence of values, and most new currencies more or less follow it. <br />$0.01, $0.02, $0.05, $0.10, $0.20, $0.50, $1, $2, $5, $10, $20, $50<br /><br />The reason is that sequence you can break a note and get 4 or 3 pieces of change all in the same order of magnitude. Most other sequences if you break a bill you get up to 6 pieces, some of which may be very small and you probably don't want. Or you break the bill and get gaps where you don't get a certain denomination of change you might want.<br /><br />Using the 1, 2, 5 sequence: If you want to break a $10, it's a $5, two $2's, and a $1.<br />If you break a $5, it's two $2's and a $1.<br /><br /><br />On the other hand, if you use the actual USD sequence, then if you try to break a $10 you get:<br />1 $5, and 5 $1's.<br />Which is 6 notes.<br /><br />It's even worse if you try to break a $1. You get:<br />3 $0.25's, 2 $0.10's, and 1 $0.05.<br />Which is 6 coins and the 5 cent pieces are so small you probably don't want it.<br /><br />Of course, in reality we just break a $1 into 4 quarters, and throw the dimes, nickels and pennies into a jar because they are too annoying to deal with. If we replaced quarters with 20 cent pieces, it would make dimes more useful since they would make change with the 20 cent piece more easily than they do with the quarter.<br />Brendan Millerhttps://www.blogger.com/profile/04055947147629051973noreply@blogger.com