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   Undertoad  Wednesday Nov 28 12:39 PM

11/28: New Euro money



The rest of the world makes better money than the US. This is the new Euro currency, and once again it's colorful and bright and not at all like the boring-looking greenback.



But there's a problem with the coinage. A study found that two of the coins above have too much nickel in them. So much that five minutes of contact with these coins could produce "hand eczema", producing inflammation and itching, for those people allergic to the metal.

Even the US "nickel" coin isn't prone to cause such things.

The new money comes out in January.



Joe  Wednesday Nov 28 01:17 PM

fun moola

I had hoped that when they changed the US currency they would adopt different colors for the different denominations.

It would make a lot of sense in that you wouldn't have to read the number on the bill anymore, you'd soon know that a "green" was a five, a "blue" was a ten etc. Fumbling through your wallet would be faster, mistakes would be fewer.

I think the reason they stuck with all denominations being green was to keep the sense of stability associated with US currency, that people would get frightened if the money changed color. This I think was primarily to soothe old people, the young generation would quickly adapt.



jet_silver  Wednesday Nov 28 01:31 PM

Fourteen pence = 1 shilling
20 shillings = 1 pound
21 shillings = 1 guinea

I really will miss the silly, giddy mix of currencies. Certainly there is a point to rationalizing European currency, but it is another death of character. The Dutch currency is incomparably beautiful. The French, well, there is humor in that - like the AdeStE python that swallowed the elephant. The Spanish, ugly and flimsy.

The Euro notes are practically an invitation for committee-think.



kaleidoscopic ziggurat  Wednesday Nov 28 02:56 PM

how about our lame new ten dollar bill



its like a cheap knock off of european money

i liked the old ones better



dasviper  Wednesday Nov 28 03:19 PM

2 questions

1: What is a euro "cent" called? (e0.01)

2: Why is there a coin worth two of them (e0.02)? It seems that when you made a new monetary system, you'd take to opportunity to shed archaic denominations. Is there a good reason anyone knows why the e0.01 and e0.05 couldn't suffice?



dave  Wednesday Nov 28 03:24 PM

I dunno. But in Canada, they've got "Twonies" (as opposed to "loonies", which are worth $1 CAD) that are worth $2 CAD and they're pretty handy.



dasviper  Wednesday Nov 28 03:38 PM

Quote:
Originally posted by dhamsaic
"Twonies"
I recall being in Canada right when they came out, and I also recall trying to punch out the little gold-ish piece in the middle, to no avail.


tw  Wednesday Nov 28 04:39 PM

Re: 11/28: New Euro money

Quote:
Originally posted by Undertoad
The new money comes out in January.
Something like 13 robberies of the new currency have already been reported. The BBC listed it by countries which I currently don't have. However, it is estimated that 10% of the stolen cash is already in circulation.

The idea was to only show the money in low resolution pictures such as TV. However counterfeiters are believed to already have created phoney bills - before the people can even tell what is and is not real money.


kaleidoscopic ziggurat  Wednesday Nov 28 04:42 PM

yah, the lowest denomination of bill we have is a fiver.

toonies, heh... yes many people tried all kinds of things such as putting them in the freezer and smacking them with a hammer just to get them to break so they could have a refund... i knew a guy that spend a couple hundred and bought them up because he heard there was going to be a 'recall' due to this very fact...



Chewbaccus  Thursday Nov 29 02:04 PM

Nice looking, true. Is it still worthless?

~Mike



russotto  Thursday Nov 29 03:45 PM

Re: 11/28: New Euro money

Quote:
Originally posted by Undertoad

But there's a problem with the coinage. A study found that two of the coins above have too much nickel in them. So much that five minutes of contact with these coins could produce "hand eczema", producing inflammation and itching, for those people allergic to the metal.

Even the US "nickel" coin isn't prone to cause such things.

The new money comes out in January. [/b]
I think the US nickel has zero nickel nowadays. The Canadian nickel has more.

I like US money. It looks like, well, money. European money looks like monopoly money. Australian money (with the plastic bits) is just weird.

And I like the $1 bill too. I hate carrying coins. It's not like they're worth intrinsicly more, and they're heavier. Since the Sacajawea dollar doesn't seem to be catching on, it seems likely we'll be keeping the $1 for a while, too.


warch  Thursday Nov 29 05:22 PM

Is the US 2$ bill still being circulated? I havent seen one in a while. I used to live near a cafe that regularly pumped these out into the community as change. It made me smile- like getting an amusing fortune cookie fortune.



Joe  Thursday Nov 29 05:48 PM

sacks-a-coins

That Sacajawea thing was kind of weird.

They spent literally years coming up with just the right alloy, shape, design etc. for this new coin. It was even gold colored, the *coolest* color for a coin, IMO, even if it doesn't actually contain any gold.

The coins are finished, and then what?

Did they ever come out? I think I saw one of them in the wild, ever.



Griff  Thursday Nov 29 08:02 PM

I haven't seen a circulating Sacawagea in quite a while. One showed up just as I was finishing the facing on my fireplace though so I stuck her in the mortar up in the corner. Hopefully, my girls will be sparked by her strength...



elSicomoro  Thursday Nov 29 08:43 PM

Quote:
Originally posted by warch
Is the US 2$ bill still being circulated? I havent seen one in a while. I used to live near a cafe that regularly pumped these out into the community as change. It made me smile- like getting an amusing fortune cookie fortune.
The last series date I saw on one was 1995, but I believe they're still circulated. IIRC (from working at a bank until 2 years ago), a bank can order them from their Federal Reserve branch.


Undertoad  Thursday Nov 29 11:03 PM

the SQUAW-buck

I get them from post office vending machines. It would be great if they would take hold. We might be able to move the decimal place over and do away with pennies AND nickels.



elSicomoro  Thursday Nov 29 11:22 PM

Re: the SQUAW-buck

Quote:
Originally posted by Undertoad
I get them from post office vending machines. It would be great if they would take hold. We might be able to move the decimal place over and do away with pennies AND nickels.
I don't know how the other 280 million Americans feel, but...

--I hate carrying change around. I hate carrying money around period. That's why I love the Visa debit card. The Susie flopped. I don't see the Squawbuck winning too many fans either. It IS cool though.

--Isn't there some lawmaker that wants to get rid of the penny? I'm all for it. Abe's already on the 5-spot. France got rid of the equivalent of their one cent piece a while ago...of course, they have the Euro coming soon though.

--The nickel is the most disrespected piece of currency we have. But it is useless as all hell.


Whit  Friday Nov 30 02:29 AM

Originaly posted by sycamore:

Quote:
The nickel is the most disrespected piece of currency we have. But it is useless as all hell.
     It's not completely uselsess, back in high school a bunch of us graduated from penny flicking. We moved up to the much heavier nickel? Ever been hit by a flying nickel. It hurts.... So you see it's not completely useless.


juju2112  Friday Nov 30 09:31 AM

When I was in high school I got a job at a bank rolling coins in the vault.

They had this big machine just for rolling coins. I'd come in to work and there'd be piles and piles of bags of loose coin, each bag weighing about 10 pounds. I think one bag of quarters was $500, and a bag of pennies was $50. That's all I did -- dump bags of coins into this machine and take the resulting rolled coins and put them in boxes.

Anyway, while there I developed an intense hatred for dimes. Dimes were so thin that they would get stuck in every imaginable crevasse of this machine. There was not a minute opening anywhere in this machine that a dime could not find its way into at least every half-hour, and make the whole contraption come to a screeching halt. They weren't that easy to pry out, either.

Everyone at the bank would go into rants every so often about how stupid dimes were. "Dimes are the enemy".


heheh. ahh, memories.



BrianR  Friday Nov 30 03:20 PM

golden dollar coins

These are definitely in circulation. The Navy uses them in their vending machines.

I can get you some if you want.

Brian



Nic Name  Tuesday Jan 1 01:31 AM

I'm converting.

Tuesday, January 1, 2002
1 Canadian Dollar = 0.70507 Euro
1 Euro (EUR) = 1.41829 Canadian Dollar (CAD)

Median price = 0.70419 / 0.70507 (bid/ask)
Estimated price based on daily US dollar rates.

You may recall the controversy when the new Canadian $10 bill (pictured in an earlier post above) was issued with the verse of "In Flanders Fields" as follows:

"In Flanders Fields the poppies blow ..."

Well, that's the Flanders in Belgium, not in The Simpsons. Homer Simpson would be quick to point out that the verse should read "grow" not "blow" but that has been clarified by snopes.com:

http://www.snopes2.com/business/money/canada1.htm

So, we're all clear now ... in Flanders Fields the poppies blow ... and in Canada ... the dollar blows!



Nic Name  Tuesday Jan 1 01:54 AM

Why are U.S. "Greenbacks" green?

Here's an explanation by the Bureau of Engraving and Printing, the Treasury folks who print U.S. paper currency notes:

http://www.bep.treas.gov/document.cfm/18/108



serge  Tuesday Jan 1 11:30 AM

Re: 2 questions

Quote:
Originally posted by dasviper
2: Why is there a coin worth two of them (e0.02)? It seems that when you made a new monetary system, you'd take to opportunity to shed archaic denominations. Is there a good reason anyone knows why the e0.01 and e0.05 couldn't suffice?
Soviet currency had a 2 Kopek piece.

You used it to make a phone call from a public pay phone.
Among other things, you could also get 2 packs of matches for it.




Nic Name  Tuesday Jan 1 09:11 PM



Fireworks light up the sky around the Euro monument in front of the European Central Bank headquarters in Frankfurt, Germany.

New Year's celebrations mark the end of the beginning for the Euro, and the beginning of the end for the Deutsche Mark.



jaguar  Tuesday Jan 1 10:33 PM

They removed 1 and 2 c peice here, smallest now is 5c. The milkbars had to sell lollies as bundles now instead of individual piece but the rest of the ountry yawned and rolled over.

I liek the idea of hte Euro, and it gives europe a simial financial powerblock to the US Greenback ,if it ever stop getting raped by US hedgefunds that is.


Don't like that idea of RFID tags in the high end notes though.



Scopulus Argentarius  Thursday Jan 3 01:16 AM

The populations of 12 countries acting together in one big Euronation....



Nic Name  Friday Jan 4 08:02 AM

E Pluribus Euro



warch  Friday Jan 4 10:21 AM

Jag, I really enjoy the turn of some of your phrases. quite lyrical at times...

Quote:
The milkbars had to sell lollies as bundles



juju2112  Friday Jan 4 02:03 PM

Hmm.. I wasn't going to say anything before, but since you've brought it up.     What in the world is a milkbar, and what is a lollie?



Nic Name  Friday Jan 4 02:11 PM

Milkbars = Convenience Stores
Lollies = Suckers

I think.

But not in all the countries of the European common market, I'm sure.



MaggieL  Friday Jan 4 02:20 PM

Quote:
Originally posted by Nic Name
Milkbars = Convenience Stores
Hmmm. Made me think of moloko bars from "A Clockwork Orange", but then that's a whole 'nother smoke. :-)


warch  Friday Jan 4 02:36 PM

Is there a lollie born every minute?



Joe  Friday Jan 4 03:01 PM

milkbars = milk bars?

Didn't they have milk bars in "A Clockwork Orange"? Where they actually drank milk at a bar?

The image I remember was edgy and industrial, places where punks would go to get...milk, for whatever reason.

OK it was the deep future and everything was f*cked up accordingly, ala "Brazil" or "Airplane".



Nic Name  Friday Jan 4 03:09 PM

Quote:
Originally posted by juju2112

When I was in high school I got a job at a bank rolling coins in the vault.

They had this big machine just for rolling coins. I'd come in to work and there'd be piles and piles of bags of loose coin, each bag weighing about 10 pounds. I think one bag of quarters was $500, and a bag of pennies was $50. That's all I did -- dump bags of coins into this machine and take the resulting rolled coins and put them in boxes.
Anchorage man cashes in $7,920 worth of pennies

An Anchorage man yesterday [August 3, 2001] finished cashing in more than 792-thousand pennies. With help from a coin-processing company, 57 year old Sylvester Neal processed 288-thousand-141 pennies at a coin-counting machine in a local supermarket. Representatives of CoinStar hired an armored car to help Neal transport his heavy load. It took him until seven-45 in the evening to finish his task.

CoinStar says it's the most pennies ever processed by its machines by one person, more than doubling a record set in January by someone in Baltimore.

Neal decided to cash in most of his collection after making plans to move from Anchorage to Auburn, Washington. He previously had cashed in five-thousand dollars worth of pennies. He says the five-ton collection was too expensive to move. Neal is a retired state fire marshal. He's keeping about 200-thousand pre-1974 pennies.


juju2112  Saturday Jan 5 01:10 AM

Quote:
Originally posted by Nic Name
Milkbars = Convenience Stores
Lollies = Suckers
Dude that's seriously messed up. What other Australian slang is there?


jaguar  Saturday Jan 5 01:18 AM

suckers?
what da?



jeni  Saturday Jan 5 01:55 AM

jag.

lollipops.

those little balls of hard candy at the end of a rolled-up paper stick, most often white. they come in all sorts of colors and flavors. lollipops.

WORD.



juju2112  Saturday Jan 5 02:20 AM

oh man that's funny. :]



jaguar  Saturday Jan 5 02:30 AM

yea i know what they are
i've just never heard them called suckers by anyone australian before.



Stuntcheeks  Tuesday Jan 8 04:03 PM

Nic Name, you posted that article about CoinStar and that man w/all the coins.

I recently heard an interesting fact on NPR the other day. The US mint had to lay off 357 employees as a result of CoinStar machines.

Reason being, the change is meant to be lost, thrown away, saved in jars stashed in the seat cushions never to be seen again, etc. We (U.S.) were producing X amount of coins every year to compensate for the coins that went out of circulation.

The CoinStar machines have changed that, though. People actually 'hoard' change now just to toss it into a jar to take to CoinStar eventually.

"This year alone we’ll put through 1.3 or 1.4 billion dollars back into the economy."--Dianne Renihan is the CFO.

That's a LOT of coinage going back into circulation and a LOT of jobs being lost because of it.

I found the whole story quite interesting.

edit: screw it, link's gone...go to google like Nic said.



Nic Name  Tuesday Jan 8 04:16 PM

Hey stunt ... try another edit and erase the bad link.

the story can be seen in every paper by searching google using search terms coinstar mint layoffs, so a direct link to support your story is not absolutely necessary here.



Joe  Tuesday Jan 8 06:58 PM

OK lemme see if I got this straight:

Quote:
For the mint, lower production means lower profits because it charges the Federal Reserve for the full face value of a coin... The mint sends the balance to the U.S. Treasury to pay for other government operations.
So our government pays itself to make money?

That's it, I'm opening a new country right now.


CharlieG  Wednesday Jan 9 08:45 AM

Can't drop a dime anymore

Hear this one yesterday

In Europe you can't loose a penny anymore, now you Euronate



Nic Name  Wednesday Jan 9 10:29 AM

Pissing away a fortune in the common market will be euronation.



Nic Name  Saturday Jan 12 02:56 AM



It's an old wives tale that if you have itchy palms you're coming into money ...
or is it you're gonna hafta pay out some money ... or are you just allergic to the euro?



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