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Bills (notes, whatever you call them) will be printed with perforations corresponding to lower denominations. The new eighteen dollar bill, for exmple, will have a score down the center. When the halves are separated the result is two nine dollar units which will, in turn, consist of nine one-dollar
units (each about ¾ inch squared) that can be dispensed in the desired configuration.
$29.78 for your groceries? Simply unfold your hundred dollar bill, tear off $30 and return the remainder to your wallet.
Machines in banks, post offices, etc. will reconstitute your inconveniently large volume of small single units back into larger denominations by generating new large bills based on scanner-read serial number information that is micro-etched into each constituent sub-unit.
To prevent fraying, this currency will be printed on a sturdier medium than we presently use - perhaps some sort of petroleum-derived synthetic fiber.
The advantage? Convenience, of course.
Annotation:
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I thought this was why most country's central banks issue banknotes in many denominations? |
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Ridiculous. This is forward thinking! Imagine the increased efficiency! The elegant ease of use! The postmodernism! |
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Baked in history. Ever wonder where the term "pieces of eight" comes from? |
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snarfyguy....please use Soterios as a spellcheck reference..... "convenice"??????? not even close....
oh, and write checks or get a debit card. |
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This would be a great help at those vending machines that only accept $1 bills. I'd no longer have to worry about trying to get change for a five -- just tear off 1/5 of the bill. |
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Having perforated currency might also lead to a reversal in the meaning of the phrase "rip-off". |
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snarfyguy, try working out a SmartCard sytem that actually works. Then we can really replace cash with reusable cards and your idea will make you wealthy. BTW, we already use polymer notes in Oz. They last longer than paper and are much harder to counterfeit, especially with a clear plastic window and holographic security features designed into them. |
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At my old uni (Exeter), they're running a trial of Mondex smartcards. There's loads of points where you can load up cash etc, and the whole system worked really well. I miss not having to mess about with loose change all the time. |
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When I was a lad, several decades ago, I went to a US Mint-sponsored "currency show" at the Sherwood Inn in North Seattle. There, they showed off all manner of coins and bills, and even a demonstration of how bills are printed (they used stamp paper rather than the real stuff). One of the things that caught my eye was a US bill that was five (or maybe ten) $10,000 bills with perfs in them so that they could be separated. |
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It's distressing to see my post left unchallenged. Nobody writing about how I should find a link to back up my claims of perforated currency. I did look but never found anything. |
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I've been longing for perforated cash for years in order to solve the group lunch dilemma where everyone at the table whips out a $20. |
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