Exactly. We could get rid of coins, and replace it with an electronic variant and leave paper cash alone. I am all for contactless payment, but I want the option to use cash. The only thing that guarantees privacy.
And this is especially true in places without democracy, as shown in the Hong Kong Protest.
See, in the US, coins are kind of useless on their own. You can't pay for anything with only coins, so giving exact change is always an extra step on top of paying with cash. Ugh.
But in the EU, they have €1 and €2 coins, and it's difficult to overstate how much this changes the dynamic. It means that for purchases under ~€10, it's suddenly possible to pay with coins only. It also means that for cash purchases, you can often receive your change as, well, change. So for large purchases, I'll pay with cash only and receive change, which goes in my coin pouch, and for small purchases I'll give exact change in coins only, using them up.
This actually becomes less onerous than paying exclusively with bills, like I do in the US, because you use up your coins naturally instead of collecting them in a jar or something to be counted later.
It also helps that taxes are included in the price label, so a €5.99 purchase will yield €0.01 instead of something in the vicinity of $0.75.
> We could get rid of coins, and replace it with an electronic variant and leave paper cash alone.
I have no idea how you do your shopping and end up not getting a pool of useless 1/5 cent coins. People literally laugh you in the face if you try to purchase things with them. Your only option is to give them away or collect them in a jar.
And needing to constantly go to ATMs just to keep notes on you is kind of ridiculous.
However I've also been to card only restaurants in Sweden when the card network was down. There was no plan B, the payment interaction just fell apart.
Bakeries in France now have this as well
Also, i don't need ATMs that often. 100€ last me for a while and you can of course also use a card if you don't have enough cash on you.
Not sure how it is in Germany, but we have ATMs on every street corner, so it's not a big deal.
I do prefer paying via Apple Pay though.
First of all, some cities like Berlin (which might be the worst offender here) are ridiculous in terms of how cash-dependent they are. There are whole areas (e.g. Kreuzberg) where you can't find a restaurant that accepts (debit or credit) card payment, even if you eat for 20+€. So, going out for lunch can deplete your cash quite rapidly.
Secondly, private banking is a huge cost centre for banks right now. This means that banks institute a lot of restrictions on when and where you can get cash. Many common banks (e.g. Sparkassen, Volksbanken) only allow you to withdraw money without charge from very specific ATMs, so you have to know where those are; if you withdraw from another ATM, you might have to pay a ridiculous amount of money (e.g. 5€), which is why you'd only use it for an emergency. Some other banks allow you to withdraw from any ATM without charge, but they have been starting to add more and more restrictions, e.g. you can only withdraw money 5x a month or something like that.
Keeping cash is a weekly issue with me? Not quite 'all the time'.
Still have to experience someone laughing in my face for doing so.
I use € coins for tips or cereal bar purchases. In my country you'd get odd looks if you did that, because we have a bill that's roughly equivalent to 1€. But in Germany or Austria you'll get smiles and herzlichen grüßen because sparing-inclined citizens of the aforementioned countries only tip small change like 10 or 20 cents. Doing it often enough at a Greek tavern gets you freebies.
Hardly. Just have your coins ready at the cashier. Often you can do the math yourself and present the money immediately and in the correct amount. On some glorious and surprisingly frequent days, you can empty your coin pouch in one swoop. It’s a nice little game.
Anyway, nobody is obliged to sacrifice their privacy because someone in the queue can’t manage their time properly.
If I pick up an item that claims to be $1.99, and plunk it down on the counter with $2, I don't want the cashier to say "That'll be $2.16, please." The label says $1.99 . They could have added the tax when they printed it. If they wanted the label price to be $1.99, they could have made the base price $1.83, and added the tax back in to make it $1.99 on the shelf.
If I go to a concession stand at a ball game, their list prices are all-taxes-included. $2 for a hot dog means if I ask for a hot dog, and pay $2 exactly, no one needs to mess around with change. Why can't other merchants do that?
It's not like consumers can just choose to stop buying things if the sales tax goes up. "What's that? Sales taxes went from 8.75% to 9.15% ? Oh, never mind, then, I'll just stop buying anything from here on out."
Every now and then I go to the local marketplace at the city square and exchange my coin jar for a stack of bills. They usually have to pay for the coins so it's a beneficial exchange for us both.
I have about $600+ in a big coin jar with a bunch of paper dollars thrown in. I’ll buy an iPad or a vacation once it reaches the top.
If there's practically nothing you can buy with two of a coin, it's probably time for it to go.