Archive for the ‘money’ tag
Currencies of the World Map
The day that thing stopped going up seems like a decade ago. Oh, it was.
(via Andrew Sullivan)
While recent unemployment numbers give us more reason to fear, it’s worth considering the oddball effects of the recession, like that the toothfairy can now only afford about $1.50 per tooth. The rate was over $2 not more than six months ago.
Postscript: I’m aware I may be inaccurate in calling this a recession, but I prefer it’s brevity to “economic crisis”, “credit crunch”, “economic readjustment”, etc.
For the first time in years, China has taken Mao off a denomination of currency (and — it being a commemorative Olympics bill — replaced him with the “birds nest” stadium). Despite relevant historical and cultural issues, my only comment is that it just looks wrong to me.
It’s a pretty clever idea: rather than wasting money for adspace in periodicals or buses, drop that money from the sky and take advantage of the free coverage that brings.
Stilling showing a penchant for interesting but useless charts (something I understand far too well) Good takes a look at the price of museum admission.
This is slightly crazy:
For the first part of their study Dr Alter and Dr Oppenheimer picked 37 “volunteers” at random from the university’s canteen. They asked them to estimate how many simple objects—gumballs, paperclips and pencils—they could purchase with either a standard dollar bill or a Susan B. Anthony dollar coin that was presented to them. Susan B. Anthony dollars are legal tender but, having been produced only from 1979-81 and then again in 1999, they are rarely seen in circulation.
After the volunteers had made their estimates, they were asked to indicate on a scale of one to seven how familiar they were with either the banknote or the coin. Dr Alter and Dr Oppenheimer were not surprised to find that all participants were less familiar with the coin than with the banknote. Nor were they that surprised to find a difference in how the participants valued coin and note (the expectation that there would be a difference was, after all, the point of doing the experiment). They were, however, flabbergasted by the size of the difference. People offered the banknote believed, on average, that they could use it to buy 83 paperclips, 72 napkins or 46 sweets. Those offered the coin thought 39 paperclips, 51 napkins or 27 sweets. In other words, the note was believed to be almost twice as valuable as the coin.
And essentially the same thing happened when they offered two one-dollar bills versus one two-dollar bill.
The UK’s Royal Mint does it right:
As you can see [by clicking the title link], the Shield of the Royal Arms has been given a contemporary treatment and its whole has been cleverly split among all six denominations from the 1p to the 50p, with the £1 coin displaying the heraldic element in its entirety. This is the first time that a single design has been used across a range of United Kingdom coins.