1 Euro notes!

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Licht & Feuer
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Re: 1 Euro notes!

Post by Licht & Feuer » Wed May 27, 2009 9:27 pm

tabbs wrote:And then there is that e-petition in Germany that suggests doing away with the €500 note. https://epetitionen.bundestag.de/index. ... ition=1914 Basically a good idea in my opinion, except that it's not the German federal parliament that could make such a decision.
But this petition suggest some facts that are not true... just because gas-stations and small shops normaly didn't accept the large bills (because it would force them to keep more money for beeing able to change them - which would raise the risk for robbery) it does not mean you cannot use them for payment, in big stores or when buying a car it's no problem and that postal agencies do not accept :note-500: in general is simply a lie... probably the starter of the petition is just generalizing a personal experience.

PS: I don't want 1€ notes, they would be void and replaced even faster than the :note-5: so that the chances for interesting hits would be very low I guess. It would be easier to increase the input of serials of course but thats not the very point of EBT in my opinion.

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1 Euro note.

Post by BCNumismatics » Sat May 30, 2009 11:59 am

eurobillsandcoins wrote:I hate the idea of 1€ notes, its inefficent to produce, too costly, needs to be frequently replaced, and is a hassle for bankers. I like the 1€ coins they're compact and saves room. So two thumbs down for a 1€ note.
1 & 2 Euro notes would be a very good idea - if they are printed in polymer plastic like all New Zealand notes have been since 1999!

A polymer plastic note would last 4 times longer than a paper note.Once the polymer note becomes unfit for circulation,it can be melted down & recycled into new products such as drain pipes.You can't do that with paper notes.

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Re: 1 Euro notes!

Post by tabbs » Sat May 30, 2009 12:26 pm

Two entirely different issues here. Polymer notes are basically OK - not really necessary here, but I would not mind having them.

It would be silly, however, to replace or complement the €1 and €2 coins with such extremely low denomination notes. Guess what, a coin can easily stay in circulation for decades. Fifty years, maybe even longer. Try that with a paper or polymer note ...

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Re: 1 Euro notes!

Post by Jes » Sat May 30, 2009 1:24 pm

tabbs wrote:not really necessary here
But... Why not?

What do you think about a new series (eg: the comming one, in 2011) with the :note-5: :note-10: :note-20: :note-50: made in polymer?
Why not? :D I think it should be good.
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Re: 1 Euro notes!

Post by tabbs » Sat May 30, 2009 2:10 pm

In countries with a wet and warm climate, "paper" notes tend to have an even shorter lifespan than in moderate (weather wise) areas. Or, if a country has a cash centered economy, that is another good reason for using polymer notes. And then there is the issue of security; polymer notes are difficult to counterfeit. On the other hand, it costs more to make them, and you would have to get a license from Securency (unless you plan to develop your own plastic for notes).

My comment primarily referred to the climate. :) And while cash does play an important role in Euroland, most transactions are electronic and cashless these days. So the remaining issue is security. As for the current series, the ECB (back then it was the ECI) had considered using polymer notes and contacted UCB, a Belgium based chemical group, about it. (Securency is an RBA/UCB joint venture.) That was in 1996, I think. Back then there was some problem with the ink which could only be applied (and removed from) the surface, so that was - apart from the cost issues - a reason to vote against polymer. Another issue was that polymer notes might be too sticky for ATMs.

Today's polymer notes are more sophisticated, but that also applies to modern "paper" notes. You can have transparent windows, some kind of "skin" on the notes, and so on. (I'm certainly not an expert when it comes to anti-counterfeiting technology, so I rely on what I read about these things. :) ) My point is that if it makes sense, why not introduce polymer euro notes, but if "paper" notes serve the purpose about as well, we may as well continue using paper ...

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Re: 1 Euro notes!

Post by androl » Sat May 30, 2009 4:26 pm

Licht & Feuer wrote:I don't want 1€ notes, they would be void and replaced even faster than the :note-5: so that the chances for interesting hits would be very low I guess.
they are used very often -> they travel very fast -> they travel far in few time -> they see many hands (EBTers' hands) -> they are worn faster -> they are replaced earlier -> :?: they are not used on EBT very often? :?: I don't see the logic
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Re: 1 Euro notes!

Post by Dakkus » Sun May 31, 2009 6:40 pm

Also, there's pretty much no chance the current policy of destroying the notes very easily could be kept if we had the 1€ notes. Having 1€ notes would be quite likely to enable us to stamp the notes, getting loads of more hits than we now do. That, then, is about the only positive thing there might be about such horrenous things.
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Re: 1 Euro note.

Post by maarsy » Tue Jun 02, 2009 1:30 am

BCNumismatics wrote:
eurobillsandcoins wrote:I hate the idea of 1€ notes, its inefficent to produce, too costly, needs to be frequently replaced, and is a hassle for bankers. I like the 1€ coins they're compact and saves room. So two thumbs down for a 1€ note.
1 & 2 Euro notes would be a very good idea - if they are printed in polymer plastic like all New Zealand notes have been since 1999!

A polymer plastic note would last 4 times longer than a paper note.Once the polymer note becomes unfit for circulation,it can be melted down & recycled into new products such as drain pipes.You can't do that with paper notes.

Aidan.
indeed not drain pipes , but i have seen verry nice book covers and maps with bits of banknote in it

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Re: 1 Euro notes!

Post by ART » Tue Jun 02, 2009 2:40 am

Image
(winner of Italian private competition)



In Italy the actual Minister of economy said that the 1 and 2 € notes have function of psychological aid to better perceive the "value" of the money (in order to prevent the perception of the coins like unimportants) and we would have "to do as the USA", that they have the 1$ note. Well... in the USA is trying from ages to do the exact contrary: to replace the 1$ note with a coin... :roll:

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1 Euro notes!

Post by BCNumismatics » Tue Jun 02, 2009 2:50 am

Art,
Canada had both a $1 note & a $1 coin from 1935 until the $1 note was withdrawn in the late 1980's.

Since 2007,Ghana has both a 1 Cedi note & a bimetallic 1 Cedi coin in circulation.

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Re: 1 Euro notes!

Post by Jes » Tue Jun 02, 2009 7:42 am

BCNumismatics wrote:Art,
Canada had both a $1 note & a $1 coin from 1935 until the $1 note was withdrawn in the late 1980's.
Since 2007,Ghana has both a 1 Cedi note & a bimetallic 1 Cedi coin in circulation.
Aidan.
There are lots of countries which have or have had banknotes & coins with the same denominations at the same time.
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Re: 1 Euro notes!

Post by tabbs » Tue Jun 02, 2009 9:39 am

ART wrote:In Italy the actual Minister of economy said that the 1 and 2 € notes have function of psychological aid to better perceive the "value" of the money (in order to prevent the perception of the coins like unimportants) and we would have "to do as the USA", that they have the 1$ note.
That may have been true for some of the euro countries in the very first years of the euro cash. But I think that people (in the twelve countries that had the euro when the cash became legal tender) who still have not figured out how much a €2 coin "represents" are hopeless cases. ;)

Right, several countries have both coins and notes for certain denominations. And yes, I would like to have both a €5 circulation coin and a €5 note, but that would be difficult in Euroland. After all, the notes are issued by the ECB or rather the Eurosystem, while the coins are issued by the governments of the single member states. And the seigniorage goes to the ECB when it comes to the notes, while with coins it goes to the member state governments.

Christian
Last edited by tabbs on Tue Jun 02, 2009 6:38 pm, edited 1 time in total.

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Re: 1 Euro note.

Post by androl » Tue Jun 02, 2009 6:18 pm

maarsy wrote:i have seen verry nice book covers and maps with bits of banknote in it
do you mean things like this?
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Re: 1 Euro notes!

Post by ART » Tue Jun 02, 2009 6:44 pm

BCNumismatics wrote:Art,
Canada had both a $1 note & a $1 coin from 1935 until the $1 note was withdrawn in the late 1980's.

Since 2007,Ghana has both a 1 Cedi note & a bimetallic 1 Cedi coin in circulation.
I know, but the intention in USA is to supplant the 1 note.
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Re: 1 Euro notes!

Post by ART » Tue Jun 02, 2009 6:53 pm

tabbs wrote:That may have been true for some of the euro countries in the very first years of the euro cash. But I think that people (in the twelve countries that had the euro when the cash became legal tender) who still have not figured out how much a €2 coin "represents" are hopeless cases. ;)
I agree.
tabbs wrote:And the seigniorage goes to the ECB when it comes to the notes, while with coins it goes to the member state governments.
No, the seignoreage is distributed from the ECB to the banks of the ESCB and then follows the normal path of the former-currencies (to the governments).
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