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should the US consider a currency redenomination? (lemmy.zip)

submitted 8 months ago by shortwavesurfer@lemmy.zip to c/personalfinance@lemmy.ml

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Prices of things are becoming absolutely insane. $800+ rent, $30,000 cars, $10 sub sandwiches, etc. It would be nice to do a 3/1 split and cut everything by 2/3. Then we would have $266 rent, $10,000 cars, and $3.33 sub sandwiches. Wages, debts, everything would drop to 1/3 what they are now. It would also make coins useful again since a vending machine soda would be 2 quarters again.

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[–] johnjamesautobahn@beehaw.org 3 points 8 months ago (1 children)

I dislike coins too, but mostly because a dollar is the smallest useful denomination and anything below is rounding. In a 1900 era world where you could buy something material for a nickel or dime, it was worthwhile to use those coins.

[–] BraveSirZaphod@kbin.social 2 points 8 months ago

In the Eurozone, you have 1 and 2 Euro coins, which are super useful all the time for small purchases. I'd really love to see them here too.