With regards to the Amero, it's happening right now and the plans are being finalized
This doesn't surprise me as we've discussed this many times before. One CPMF member (who has very reliable sources) gave a lot of compelling arguments to support this "Amero" policy. I also talked to someone who should be in the know (from Ottawa) and he strongly hinted we've proceeded in that direction. Look at how the US currency has been slightly colorized and in fact becoming more "Canadian like" (enlarged presidential engravings) with improved security features, etc. The new US notes are almost nice to look at now. It seems as if the two currencies have recently modified and are becoming more in step with each other. I still find it hard to believe that the US is willing to sacrifice (scrap) its traditional "greenback" with this new "Amero" and that it will be on par in Mexico. However, we've seen a dramatic increase in debit cards, and other technologies that have emerged, that have shaped and impact our day to day commerce. The global village is indeed shrinking.
I'm opposed already
Yes-- the name is irritating but
AS IF we (you and I) have any
choice! What will be done will be done (by the people who pull the strings). To petition it would be like trying to hold back the use of debit cards.
How will this affect our CPM hobby?
I believe people will still collect despite the fact that a Canadian currency will no longer be printed. It will likely change what we collect somewhat. But I believe this has already happened since we now collect non-identifiable insert replacements, rotators, and repeaters. The hobby is always evolving, and will likely continue to do so.
Will our collections be worthless from a face value standpoint?
Will our collections be worth more?
I don't see the connection between face value (eg: 1935 $25 note or 1954 *I/X $5.00) and the note's true worth. A note's face value is really insignificant (--well --maybe the 100's and 1000's will drop in value). What's rare and sought after will always remain desirable to a collector. The only difference is we'll be using a new currency to purchase our older notes (the Charlton's will need to be revised).
It may hurt the value of it if all notes become non redeamable after a certain time. Similar to some of the chartered banks
I can't see how this currency will go the way of the chartered notes.
Chartered note collecting takes a bit more research, and specializing, and thus is a lot like collecting errors-- you should know your stuff before you collect it. BOC notes are easier to collect with a wider base of collectors. Comparing the two is like comparing note collectors to coin collectors.
When the currency is "put to rest" I believe the BV of notes will go up (like the Irish pound/shilling notes). I believe that whenever something major happens to our currency (like the end of the $1 / $2 notes) than it draws more attention to an artisitic artefact which most people take for granted. Thus... more collectors (limited supply) and more demand. There will surely be a lot of hoarding of the last issue, a lot of filler kicking around, and a lot of newly "burned" newbies who've just bought a manufactured "major cutting" error from a 1986 $2 EGT sheet. (In other words not much different than today). If the Journey is the last issue than all the original "gold leaf" varieties will likely shoot up (like the 54 Devil's face).
How a new currency will affect the economy? I have no idea really but Ireland hasn't been held back by the euro. I doubt Canada will be adversely affected but there could be adjustments and growing pains as there was with the early years of the euro.
Perhaps Two-in-Vallarta has some input?
