FC NOW: The Fast Company Weblog
October 5, 2005
Money, It's a Hit
Amerca's getting a new Nickel. A big fuss is being made that Jefferson seems optimistic, almost smiling. Will that affect the spending of the new nickel? Money is an everyday item that everyone uses and has an opinion of. Here in the U.S. we've had a bunch of changes over the last handful of years. Our dollars changed to get a huge portrait (as well as anti-counterfeiting additions), then again to rainbow colored paper (which many did not like). There were huge events around state quarters, with design contests and yearly releases.
But does the design of money actually affect our economy? If a dollar becomes simple change, maybe people will spend more? The golden dollar coin depicting Sacagawea may have been released for this reason. We will never know if it would've worked The gold dollar failed to catch on, despite numerous television and radio commercials, because the Mint did not stop circulating dollar bills. I guess people don't like change.
Then again, there is a site devoted to saving the penny from destruction. Some have said the government would save several million dollars each year if we got rid of the penny, because the cost to make them goes up every year and most remain unspent. Of course, businesses may have an increase in profit when every purchase is rounded up to the nearest increment of five cents. It seems like a big deal, for such a tiny denomination.
What do you all think about these money matters?
Posted by Kevin Ohannessian at October 5, 2005 11:54 AM | Category: ideas |
3 Comments
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may be off here, but I think this is the first time in American History that we have five forms of $1 all operating in circulation at the same time.
I continually giggle at dropping one of each on unsuspecting hamburger jockeys and have them fiddle, them scratch their heads, call their bosses over. I LOVE this new nickle.
The Mint Marketing Department has caught on with me, I like to buy their new coins - smart move on the part of the US.gov.
Roger Fulton
Yuma
http://spaces.msn.com/members/rogerroost/
The mint and paper industry both are doing well.For bigger money,it is paper and for lower denominations it is the mint.New nickle is good.
May be days to come more minted money will come in different minerals and with higher amount.
I have a post on my blog that deals with graphic integrity of the "new money"