Do Coins have a Future?
Centuries ago, probably more than two thousand years ago,
an invention was changing the way people did everyday business. If you wanted
to buy some wine and food that cost a sheep and you did not have the right
payment on you, perhaps you would hand over a cow and apologise you had nothing
smaller. The dealer would offer you nine chickens in change and count them laboriously
in front of you.
The invention was money which was pieces of metal which had
an agreed value. Someone must have thought they needed a special to show they
were genuine and the value. Coins were easier to carry than goods for barter
and you do not have to keep them alive.
Nowadays the reverse is happening. Most transactions are done
with a plastic card or tapping your telephone. Coins are disappearing along
with high street banks and ATMs to get cash. However over a million people in
the UK do not have a bank account and then add those who have an account but
prefer cash and the people who temporarily are not able to access their accounts
which equals a lot more.
Will this mean the end of coins and more worryingly the end
of coin collectors? Probably not as old coins will still be collected and
collectors want commemorative coins.
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