Argentina takes steps to combat coin shortage
stonej
Arizona Coin Collector
http://www.iht.com/articles/ap/2009/02/04/news/LT-Argentina-Coin-shortage.php
International Herald Tribune
Argentina takes steps to combat coin shortage
The Associated Press
Published: February 4, 2009
BUENOS AIRES, Argentina: Argentina's capital is launching
an electronic transportation ticket to alleviate a dire
coin shortage and do away with the black market trade
in small change.
President Cristina Fernandez business and political
leaders Wednesday that the electronic ticket will be a
"substantial improvement" in the lives of millions of
people in Greater Buenos Aires who scramble every
morning to round up scarce coins to ride the bus or
train.
The government will invest about $57 million in the
electronic system, which will go into effect in 90
days.
There are about 125 coins per person in circulation
in Argentina - well below the 1,000 coins per person
circulating in the U.S., according to The United
States Mint.
..
Arizona Coin Collector
"stonej" <sto...@mail.lib.msu.edu> wrote in message
news:ff9aaeb3-dd10-48ce...@r37g2000prr.googlegroups.com...
> http://www.iht.com/articles/ap/2009/02/04/news/LT-Argentina-Coin-shortage.php
Hello
My apologies to "stonej" here.
He gets credit for breaking the story
first. My Internet service provider has
been having problems with it's newsgroup.
Postings show up much later to view.
note.boy
"Arizona Coin Collector" <nos...@nospam.com> wrote in message
news:5eydnYlELr66YxTU...@earthlink.com...
How on earth did the US min come up with 1,000 coins per person circulating?
Billy
PC
> "stonej" <sto...@mail.lib.msu.edu> wrote in message
>
> news:ff9aaeb3-dd10-48ce...@r37g2000prr.googlegroups.com...
>
>
> Hello
>
> My apologies to "stonej" here.
>
> He gets credit for breaking the story
> first. My Internet service provider has
> been having problems with it's newsgroup.
>
> Postings show up much later to view.
I'll let this one go but I have been keeping track ... and well ...
let's just say the results have not been exemplary :-)
Jon Purkey
Guess someone just multiplied the approximately 10 billion coins that
were minted last year by the 30 year life expectancy of a coin to come
up with 300 billion, 1000x the current population of of the US.
305,756,901 according to the population clock at:
http://www.census.gov/population/www/popclockus.html
Arizona Coin Collector
"note.boy" <note...@naespamntlworld.com> wrote in message
news:hbIil.28005$jz5....@newsfe09.ams2...
>>>
>> There are about 125 coins per person in circulation
>> in Argentina - well below the 1,000 coins per person
>> circulating in the U.S., according to The United
>> States Mint.
>>
>>
>
> How on earth did the US min come up with 1,000 coins per person
> circulating? Billy
>
Hello Billy
The link below is the U.S. Mint Coin Production Figures
for 2008.
The total number I got is shown below.
10141.58 million coins total in 2008.
0.58 Million would = 580,000.00 coins.
So 10141.58 million = 10,141,580,000.00 coins.
Wow,,,,over ten billion coins minted!
If the U.S. Population is 300,000,000
10141580000 / 300000000 = 33.8 coins per person in 2008.
The "1000 coins per person" may have come over
a period of 30 years of coin production perhaps.
The life of a coin is between 20 to 30 years.
..
note.boy
But they are not all in circulation, if they were US citizens would have to
be built like weight lifters. :-) Billy