Consequenes and how high value metal coins

WI high denomination currency $50 or even $10 were usually in the form of metal coins and low value either paper or as plastic coins?
 
WI high denomination currency $50 or even $10 were usually in the form of metal coins and low value either paper or as plastic coins?

1. Metal coins for high denominations are quite feasible. A $20 gold coin from before 1933 contains about $1,650 in gold at today's prices, and would generally buy as much as $350 in Federal Reserve Notes would now.

2. For the $10-50 range, silver is just about perfect. A pre-1935 silver dollar contains about $35 worth of silver, and would generally buy as much as a $20 Federal Reserve Note would now.

3. For such high-denomination coins, you want the metallic value to be close to the face value unless there are very powerful anti-counterfeiting devices in the design. Japan learned this the hard way when it issued 100,000 yen gold coins (commemoratives, meant primarily for collectors, but still legal tender which meant they could be tuned in to banks for more conventional money) that contained way less than 100,000 yen worth of gold. Similar coins issued after that were denominated 10,000. Note that in OTL, British 1 and 2 pound coins, 2 Euro coins, and to a lesser extent American Susan B. Anthony dollars have been counterfeited, primarily to fool vending machines.

4. Low value in paper is a bad idea. Paper is cheap to print but doesn't last for very many transactions. Imagine a paper 25-cent note and how fast it would wear out.

5. Plastic coins are an intriguing idea, and one that may have merit for the lowest denominations of all. Plastic cents (technically, America has no penny, only a cent). For anything higher than a cent, some kind of identification device would be needed (maybe a metallic/magnetic fiber enclosure) to make the coins distinguishable by vending machines.

6. The societal consequences would be interesting. Having no paper money and having large-denomination coins would seem to facilitate more vending machines for high-value items. Best Buy has vending machines that sell small electronics, cell phones, iPods, etc. but they only take credit cards. Perhaps in a society where gold and silver coins circulated, cash could be accepted too.... Self-checkouts in modern grocery stores would also become more feasible as there wouldn't be the issue of bills jamming. Vending machine failures would potentially suck much bigger time than they do now. Losing $1.50 in a soda machine is nothing compared to losing $500 in the Best Buy electronics machine!
 
Just so you know: American 1-cent (penny) and 5-cent (nickel) coins are very close (that is, less than 50% error :)) to having nearly identical face and metal values.
It's a little harder, though, to get the same for 10 cents (dime), 25 cents (quarter), and especially dollars (which fall in that very border area where a silver coin is still a little too tiny, but a base-metal coin would've been way too huge if we're trying to keep metal value similar to face).
(Compare: British 1797 "cartwheel" pennies. Two pence, here's our dollar (1 gram silver, 70+ grams copper aka base metal). One penny, here's our half dollar (0.5 grams silver, 40ish grams copper - choose among those yourself). Halfpenny (not actually made in 1797, IIRC) - here's our quarter (way too tiny in silver, but relatively manageable in copper).)

For lesser (parts-of-cent) denominations, in case those exist, one could presumably use the Russian idea - plated stainless steel (as making plastic coins in under-cent denominations would probably result in something similar to Ankh-Morpork elims - that is, coins that are worth several dozen times face value to make).
 
The normal life span of a paper note is about six months, while the normal life span of a coin is about forty years. Thats why Australia has one and two dollar coins and plastic notes for values higher than that.
 
The Canadian million dollar coin is worth at least 2 million I'm pretty sure, so that seems rather odd to me. We have some very obscure coins though, like a 3 dollar one I saw at the post office.
 
Just so you know: American 1-cent (penny) and 5-cent (nickel) coins are very close (that is, less than 50% error :)) to having nearly identical face and metal values.
It's a little harder, though, to get the same for 10 cents (dime), 25 cents (quarter), and especially dollars (which fall in that very border area where a silver coin is still a little too tiny, but a base-metal coin would've been way too huge if we're trying to keep metal value similar to face).
(Compare: British 1797 "cartwheel" pennies. Two pence, here's our dollar (1 gram silver, 70+ grams copper aka base metal). One penny, here's our half dollar (0.5 grams silver, 40ish grams copper - choose among those yourself). Halfpenny (not actually made in 1797, IIRC) - here's our quarter (way too tiny in silver, but relatively manageable in copper).)

For lesser (parts-of-cent) denominations, in case those exist, one could presumably use the Russian idea - plated stainless steel (as making plastic coins in under-cent denominations would probably result in something similar to Ankh-Morpork elims - that is, coins that are worth several dozen times face value to make).

Billon (a small percentage of silver alloyed with suitable base metals) would make face=metal value possible in the 10 cents to $2 range.
 
The problem with plastic coins is there is a risk of them warping with heat. Metal coins are difficult to damage.
 

MAlexMatt

Banned
Token coins were common in late 18th century England, when there was a serious small change shortage that was answered by (technically illegal, but tolerated) private mints.

Perhaps token coins and a preserved metallic coinage requires some continuation of private minting, or would at least be helped along by it.
 
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