Currency Denominations

[eufo]

I didn't want to hijack another thread, but there was talk about a $1000 banknote and it got me thinking about what notes we use here in US and why. Let's start from the bottom up... (please correct me if I made a mistake here)

Coins
$0.01 - "Penny" - Essentially worthless since it can't purchase anything on its own. I still pick them up... lol!
$0.05 - "Nickel" - Slightly less worthless, but still can't purchase anything really.
$0.10 - "Dime" - Now we can pick up some bits of candy.
$0.25 - "Quarter" - Can get a handful of candy from a gumball machine.
$0.50 - "Half Dollar" - Almost never see these in circulation.
$1.00 - "Dollar" - Also very rare.

Banknotes
$1 - These are extremely common and are normally pretty ratty from heavy use.
$2 - As rare as the half dollar. Most kids think it's fake money.
$5 - Very common and heavily used.
$10 - Much less common than the $5 or $20 bills.
$20 - Extremely common, mostly due it being the highest (or only) denomination that many ATMs can dispense.
$50 - Not as uncommon as the $2 bill, but more uncommon than a $10 bill. Often cannot spend in shops.
$100 - Fairly common to see, likely due to it being the largest denomination available. Often cannot spend in shops.

Discussion...

The progression of denominations as we go up seems to follow a pattern of doubling (with a couple exceptions). While this may make some logical sense, watching what people do with the money seems much more useful in determining what we should be doing with our denominations.

With regards to banknotes, we show a strong inclination to use $1, $5, and $20 notes for almost everything smallish and $100 for anything large. This shows a somewhat natural use of 4x to 5x the denomination prior instead of 2x. I think we'd survive just fine dropping the $2, $10, and $50 notes.

I'd like to see a $500 note, but I doubt that's in the cards.

As far as coins go... maybe we could implement that same 4x-5x the prior and use Pennies, Nickels, Quarters and Dollars. Dump the Dimes and Half Dollars. If we're feeling more bold... dump the Pennies and Dollars too since no one uses Dollar coins and people throw Pennies in the street. That would leave us with Nickels and Quarters.

Opinions?

[boglerdude]

just go all digital. crypto (egold) and edollars (currency)