How to save billions of dollars.

[kandrathe]

To be perfectly honest, I can't disagree with the premise that any denomination more expensive to produce than it is worth is a prime candidate for removal, however, I don' think dropping to the three coin system recomended in the video would fly in the US. With the present state and local tax rates (depending on jurisdiction ranging from 0% - 7.5% or more) small denominations still seem important to me. I would instead propose a four coin system: copper "nickels," dimes, quarters and dollar coins.

Although, maybe we should eliminate hard currency altogether now, rather than waiting until farther in the future when barcodes and scans will be the only currency we need.

We have .10, .25, .50, and $1 -- other than fractional change, I don't use pennies or nickels for anything. I would propose a 2 year period of time to allow retailers to reprice their goods without creating additional work in stocking and repricing. By then, people will get used to things being $2 or $1.90 instead of $1.99. Due to taxes, you'd still need to round at the register. Long gone would be the give a penny, take a penny trays. I agree electronic transactions are the best way, but... I like the freedom of currency if I want to stay out of the system of tracking all my purchases...

As for the price of metals... Most of us have more copper in our wire, and pipes in our homes than we could muster up in pennies.