Plastic coins to replace metal coins
View(s):Letter
Last week I read in one of the newspapers that there is an acute shortage of coins in the country and that the Government has called for tenders for minting money. This is evident when we get our water, electricity and telephone bills where we get billed to the last cent. For instance I received my electricity bill for Rs.11, 561.78. Now how am I going to pay this unless I pay Rs.11, 561.80 and forego two cents because I do not have three one cent coins?
Getting foreign countries to mint metal coins of small denominations will cost a fortune. I have a suggestion. Why not mint coins in plastics for the following reasons:
Advantages:
1. Plastic coins are much cheaper than minting metal coins.
2. They are lighter to carry.
3. No one will want to forge plastic coins as it is worthless.
4. Coins can be minted in different colors for easy recognition.
5. They can be minted in different shapes so that the disabled can feel them by touch.
7. No one would hoard plastic coins.
8. Plastic coins are non bio-degradable and last a million years.
6. Plastic coins can be minted by the Government in a Government Mint.
7. They can be considered legal tender and accepted by the Treasury.
The only disadvantage is, no one will undertake this job as the commission is worthless.
Another idea is to stem the large number of forged currency notes in circulation by amateur forgers. Why not offer these forgers Government jobs in the Treasury so that they could print genuine currency notes.
Funny that the Central Bank talks of money in trillions when the average poor are getting poorer.
D.L. Sirimanne, Nugegoda
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