Coin Matters

Hearing that Zimbabweans had a limited supply of coins, I recalled one person’s response to Starbucks’ price hike to $2.01 for a tall coffee in NYC: “I can’t believe it. Now I need to walk around with pennies?” I guess…

Should We Keep the Penny?

Because cost is up and use is down, the Royal Canadian Mint stopped producing pennies and, during the fall, will stop distributing those that exist. Should we also eliminate the penny? Pennies are expensive. At 2 1/2 cents a piece, making…

Just Like Yap Money

To a Yap islander, in 1903, a 12-foot limestone wheel had considerable value. Described by NPR’s Planet Money, the wheels, as small as a foot in diameter and as large as twelve, composed the islanders’ monetary system. With smaller transactions, you…

Forbidden Dollars

By Mira Korber, guest blogger, Kent Place School alumna, Yale student, and recent traveler to Buenos Aires, Argentina.  In Argentina, a $100 USD bill is a hot item. And though Argentines want US dollars — for traveling, saving, or otherwise…

Look For the Silver Lining

You might want to decide whether to set the table with Granny’s silver, sell it, or melt it. To see why, you just need to look at a graph of the price of silver. Representing a 162% increase between January…

Money and Happiness

It is possible, after all, that money can make us happy. A recent Brookings paper from 3 University of Pennsylvania researchers concluded that people experience greater “subjective well-being” or life satisfaction when they are more affluent. Comparing rich and poor…

Greener Money

Hearing that Canada was switching to plastic money this year, I imagined…plastic. It turns out that plastic money looks and feels pretty much like the cotton-based paper currency we now use.  Why make the change? Money was one reason. Although…

Wheelbarrows of Money

If your country’s currency is hyperinflating, then how do you buy bread? You can find a wheelbarrow or use another currency. During February, 2007, with an inflation rate exceeding 50% per month, the Zimbabwean economy experienced hyperinflation. Looking for purchasing power,…

Impossible But Funny Congressional Testimony

You might enjoy looking at the Onion’s parody of Ben Bernanke’s congressional testimony. It never can or will happen this way. And yet, while the testimony is fictitious, the statements about money are based on its actual definition. The article…