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What do you think will disappear first?


cowhodan
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I've always thought that in the future the coins and notes will be replaced by another electronic devices like plastic cards or things like that, what do you think will be replaced first? Personally I go for the coins, or maybe both at the same time; in fact many people uses credit cards in their daily purchases almost for everything and avoids using coins or notes, of course that depends on where do you live, in modern cities that's common, but its not the same in small towns...

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Unless one or the other is demonitized first, I would say bills would disappear first. Only because there are so many coins hoarded in change jars and they last so long in circulation compared to notes.

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Depends on the economic situation. Most often with a cash strapped economy, coins are usually the first to go because they cannot be replaced as soon as possible. And when you get ridicious inflations, coins are not accepted and only banknotes are printed with newer denominations.

 

Who knows though, probably both will go off the same time. :ninja:

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If you're talking about fiat money tokens issued by governments, coins would probably be the first to be eliminated from production. That is what has happened historically in the case of the hyperinflation of fiat money preceding a collapse.

 

As far as what would be the last to be replaced as a means of commerce independent of what governments are issuing, precious metal coins would be the most likely to remain a means of transferring value in commerce. The economies of the various European countries have demonstrated how this can happen during the 20th century when government currencies became worthless at home or untransferrable across borders or both. Fiat currencies are always likely to collapse since they are simply a means of giving governments total access to the means and the fruits of production. Governments always loot their economies once that access is gained.

 

You'd have to clarify whether you mean which type of intrinsically worthless token would be the first to be discarded by governments or which type of money would be the first to be rejected by people engaged in commerce. The answer would vary depending on what you meant.

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  • 1 year later...

Bills. Think about the vending machine industry that survives on coin transactions. I can't think of many that survive on bill transactions besides strip joints. But I guess they could figure out a place to swipe a plastic card. : x

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Currently I find it hard to imagine that cash, be it coins or notes, will soon disappear. Used to an even lesser extent than today, sure. But gone? Cash would have to be replaced by some means of payment that can be used by everybody - citizens and "visitors", elderly people and children. Guess it will take a while until we come to that point ...

 

Christian

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