Wednesday, November 22, 2006
Giving up the dollar
We now learn the Federal Reserve will try once more to get Americans away from dollars and towards coins, introducing (again) the one dollar coin. The idea is that dollars simply don't last as long as coins: coins get more bang for one's buck...literally, in this case. Will it catch on? I have been used to one pound coins for years and can see others doing likewise. The problem may lie with American wallets: when friends and family see my wallet, they notice it has a place for coins. American wallets for men lack these. Moving to coins will mean more than getting used to something different, but involve entirely new lines of wallets as well. Not a problem to end all problems, but perhaps another reason to doubt Americans are ready for this move.