refusing to accept cash

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July 14th, 2017 at 4:12:46 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 736
Posts: 8580
Quote: Ayecarumba
Anonymity for questionable spending, speed, convenience for small transactions, identity security, tips, account balance security, forgotten PIN...

Even though 79% of Swedes used cash for a transaction in the past month, that could include transaction only involving coins.

In Sweden, the number of banknotes per capita is so small, that there is a very limited amount of transactions possible. Also there is not enough money to have money stored in homes. If the average person wanted to keep $250 at home, the system would break down because of lack of banknotes. There wouldn't be enough notes to stock the ATMs.


Banknotes per capita USA in circulation
36.1 : $1 George Washington
3.5 : $2 Thomas Jefferson
8.8 : $5 Abraham Lincoln
5.9 : $10 Alexander Hamilton
27.3 : $20 Andrew Jackson
5.1 : $50 Ulysses S. Grant
35.6 : $100 Benjamin Franklin
122.3 TOTAL 7 denominations

Banknotes per capita SWEDEN in circulation
coin : 10 kr ~ $1.20
5.2 : 20 kr ~ $2.40
2.2 : 50 kr ~ $6
3.1 : 100 kr ~ $12
3.6 : 200 kr ~ $24
5.7 : 500 kr ~ $60
0.4 : 1000 kr ~ $120
20.1 TOTAL 6 denominations

Banknotes per capita NORWAY in circulation
coin : 10 kr
coin : 20 kr
4.3 : 50 kr
4.2 : 100 kr
5.7 : 200 kr
7.1 : 500 kr
3.3 : 1000 kr
24.5 TOTAL 5 denominations


Imagine that the USA Bureau of Engraving and Printing is circulating 27 $20 banknotes per capita in order to keep the ATMs full, and Sweden is circulating 20 banknotes per capita of all six denominations.

Even Norway circulates many more of the larger denomination banknotes.
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