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How much would it cost, though? I mean if a pound coin costs more than a pound, that's not good (that's possible even with the dumb coins, I recently heard tha
by gkya 10y ago
How much would it cost, though? I mean if a pound coin costs more than a pound, that's not good (that's possible even with the dumb coins, I recently heard that the turkish one kurus costs two and a half turkish kurus).
(edit: when I say "cost" I mean the production cost)
- cat199 10y agoNot necessarily - Since most money is held in banks, electronic transactions, etc - the question is more the 'value of supporting this denomination in currency to the economy' than the cost of a coin.. Like of $100M USD worth of tax/federal reserve interest revenue is generated from $10M of $100 bills that cost $15M to produce, it's not really a loss, but a business expense...
- Roedou 10y agoIt seems that cost-to-produce vs. face-value isn't a terribly important ratio. The US has continued making pennies for a lot longer than necessary, though it seems to cost ~1.5c to make them.
- ardaozkal 10y agoThe 1 kurus was stopped being manufactured (still have one though: https://s.ave.zone/969.JPG https://s.ave.zone/969.JPG ) Well, a pound coin is used more than once, and there is tax applied on every time it is used, so it'll pay off for itself in a relatively short timespan, imo. Plus, it pretty much beats counterfeits, so loss from that is gone too. Problem with 1 kurus was that it wasn't used often, the monetary value was small and that it had no anti-counterfeit stuff. Also, people were melting it and selling it. You can't really sell a broken or write-protected rfid chip for much.