The End of our hobby? Doomed?

News: Welcome to the Canadian Paper Money Forum.

A penny has not been a piece of currency in Canada since 1857. There is no such coin called a "nickel". most transactions are done with other denominations and rag money.

Rick

I love having pennys!   It's the best way to save money without even knowing it!

Mikey you may wanna rethink that.Enjoy!
http://www.bankofcanada.ca/en/rates/inflation_calc.html

A penny has not been a piece of currency in Canada since 1857. There is no such coin called a "nickel". most transactions are done with other denominations and rag money.
 

Gee Rick,with such a serious situation facing us,the elimination of cash,certain segments of our hobby that may disappear,and as the head of a very prestegous organization,you'd think a petition from you/your organization would be coming forthwith,sent directly to the BOC expressing the associations opposition to this dastardley scheme!! (all tongue in cheek!)

heck,even an email! lol.

But what you said makes alot of 'cents'

Hey Mikey,
I have jars upon jars of them (25 years worth lol), whenever I try to give them away to the young ones, their parents say NO.

Thought of taking them to one of those coin machines but they charge like 9%.

Maybe Robert will sell me one of those 1935 $2 for them  

CAND is not interested in fighting the fights of those that want to force their will on the Canadian public.
A few things. Coins, correctly expressed, will continue to be used as change. Use them.
Paper money is a usefull way to spend it. It is a shame when one appreciates that McDonalds has a debit machine in their drive through window (as do others).
Maybe we should print more paper, and charge higher fees on bank machines, debit machines, credit cards usage. This will take place when it will.
Paypal is another. A US company owned by our friends at eBay. They charge high fees to use them, force one to convert into Canadian money at their rate. I tried to list items on eBay in Canadian funds and not take PP. All it did was reduce sales and increase hassle.

Rick

Aye, of course there is no such thing as a nickel in circulation.  It's proper name under the British Imperial system is a shilling.

 

When people are arguing over semantics (Yes, yes, I know you're just joking), it's delicious to see people make errors.  Did anyone else spot the error in what I quoted?  

Aye, of course there is no such thing as a nickel in circulation.  It's proper name under the British Imperial system is a shilling.

 

When people are arguing over semantics (Yes, yes, I know you're just joking), it's delicious to see people make errors.  Did anyone else spot the error in what I quoted?  

A shilling is 20 cents, which is 1/20th of a pound halifax or $4 (not 1/20th of a dollar). Refer to Paul's article on the $4 bill in the Notes section of this site.

MASTERCARD was accused yesterday of encouraging teenagers to go into debt with the launch of a payment card for children.  
The biggest credit card group is issuing prepayment cards to let youngsters purchase products on plastic........

Most credit/debit systems are all about the service charges and interests made on out-standing debts.  Yes and then there's Paypal which no one seems to like.  And who can blame us?  What a rip off organization that is!

That's the underlying agenda of these "cashless society" pundits.  To fool people into believing that they're doing you a service while they have their hands in your back pockets (I love that commercial!)

I doubt you'll ever see a cashless society in the USA, where the general population are as skeptical of their central government as they are their banks.  While we may have a relatively more stable banking system here, I think our integration with the US economy will spare us the cashless society route.  Canadians often forget that there are a few fringe benefits living north of "Goliath."

Hi Rob,

I'm joing this discussion late... but as they say better than never. Additionally, I think I was mesmerized by the prices the 1935 and 37 $50 banknotes on Ebay sold for... sigh... perhaps next time... perhaps next time...lol...

Going back to your topic... I don't know if you remember but I had actually brought this topic up with you along time ago not too long after we met. It was sparked by an interesting discussion I had with a dealer who brought this issue up with me as I was scanning his inventory and trying to pick his brain on what he thought the potential appreciation of numismatic collectables were in Canada - both banknotes and paper.

I would say that the advent of a cashless society is invenvitable. My travels to asia over the years has seen how this is functioning to some extent in differening methods. E.g. transit cards in Hong Kong also double as cash cards for the phone and convenience cards. I believe many years ago Nokia was alreadng preloading phone technology with the ability to pay (literally zap at) retailers and other pos vendors for one to buy with monetary funds stored on their phone.

With regards to how this will affect the numismatic future... I will for arguements sake.... say that we should be fine. The reason if anything is that monetary currency I believe will have at the very least a social, anthropological, and economic oddity in the historical landscape of "our" society.

I think like other collectables such as horse carriages, vintage propellor planes, old cars, and whatever else people find a fancy too that is no longer usuable for today's society someone will be interested enough to want to collect paper money.

Whether the hobby actually grows or not... well... its really hard to say isn't it? I mean to some extent... one would need to argue that the means, intrigue, and coolness to collect anything comes and goes with fads, fashion, and other social economic factors.

I believe comic books that were heavily speculated back in the 80s and 90s and especially so with the advent of third party grading. Likewise, that bubble burst during the end of an interesting time where a question of paper back comic books surviving the advent of the internet came into being. And although most of those same comic books are not worth as much during their specualtive hayday... people still collect them.

So, to take a stand... I think that the hobby will be fine. I think I've taken a slightly different perspective to tackle your topic so I hope it adds to the discussion.

I'm sure we'll have many more in the future...lol...

Best Regards, Steve

BTW... I'm still daydreaming about that $50 Osborne...lol

Oops... somewhere in my typing... I wrote "banknotes and paer" which should have read "banknotes and coins"... lol... I think I was still daydreaming...lol

So will drug dealers have to take debit  :-/  and no more avoiding GST    

Aye, of course there is no such thing as a nickel in circulation.  It's proper name under the British Imperial system is a shilling.

 

When people are arguing over semantics (Yes, yes, I know you're just joking), it's delicious to see people make errors.  Did anyone else spot the error in what I quoted?  

A shilling is 20 cents, which is 1/20th of a pound halifax or $4 (not 1/20th of a dollar). Refer to Paul's article on the $4 bill in the Notes section of this site.

Good one, but thats not the error I was talking about.  Hint:  I deliberately made the same error in my previous sentence.  

So will drug dealers have to take debit  :-/  and no more avoiding GST    

I'm wondering how burlesque dancers will be tipped in this cashless future!?

Hello Steve,

Sorry for the delay in my response.

I do vaguely remember this being a topic of conversation when we first met.What triggered my renewed interest in it was the articles I posted and a conversation with someone(I will not reveal his name on a public forum)that lives here in Vallarta.Actually he is Canadian,helped build Whistler into what it is today by financing and design.His family still owns several businesses in Whistler,and I do mean the larger ones.They(he) are involved in several golf courses in Vancouver and Vallarta `as well as a few Mega Resorts here(over 500 rooms)
Having known him several years,and his background in finance,the topic always turns to some aspect of money,wether stocks,currency,gold,real estate,what have you.

In no uncertain terms he has told me the grand plan is a cashless society.His contacts in the bankinbg industry are Tier 1 people,and he tells me the Banks do not OFFICIALLY endorse this policy,as they would have a PR problem of epic porportions.There idea is to FUND orginizations that advocate cashless society,slowly but surely.
This is why I posted the article about a cashless society sponsered by ..who else...the BNS.

As he relates to me,and this is evolving he states,the current objective is a North American currency,no Canadian,nor USD,or Peso.Eventually this will be phased out to an all electronic system.
Lo and behold,Lou Dobbs on MoneyLine the other night said the EXACT same thing.I couldn't believe my ears,and this gentlemans credibility went up afew notches in my estimation!

So where does it leave the future of our hobby? Who really knows,yet I cant see it being as popular as it is now if currency disappears.Try to get a 17 year old to save a 1973 or 1954 $1.00  lol.(Of course there are exceptions)

We need only look at our own wives(although mine is now embracing the hobby in a manner totally different from me).They look at us like we are crazy extremists.Why waste good money for bad they scream,lol.

Back to my friend here,he tells me the purpose of this scheme is quite simple.So you can not avoid taxes.The stripper can not be tipped without taxes if it is all recorded and electronic.The garage sale will have taxes paid on every item.
But the main reason that will be put forth he tells me,is to do away with financial crime.In an example he stated that if someone breaks into your home,steals your TV,they cant sell it without a record because there is no cash to trade any longer.

He also stated if you have not secured your financial privacy out of NA by now,you can and should not.

This is but a brief synopsis of our talks,and my subsequent research.
What I really wanted was to stimulate a discussion among collectors/dealers about the future of our hobby.

Thanks for adding to it Steve.

It's the "perfect" system and its coming.

PS-Dealers are strangely silent on this.I suspect they know more than they are letting us in on? Mind you,if you read Rick's post here,he probably has a lot of info he could share but chooses not to.

I'm wondering how burlesque dancers will be tipped in this cashless future!?

Dexit cards, Canadian Tire money, Casino chips, U.S. dollars?  I was going to add slot machine tokens, but tipping with cold metal objects might not be appreciated.