Canada has adopted bills that have bumps, but the concern is that, with prolonged use, the bumps might flatten out and become useless.
I have a solution that would be easy to implement and wouldn't even require to print new bills. Here it is:
That is, cut a corner from the $10, two corners from the $20, three corners from the $50, and all four corners from the $100. The $5 bills can remain as they are:
Nobody would confuse the bills anymore, and the current bills could be cut by the Reserve Bank precisely to spec. The alternative of leaving the $100 unchanged and cut more corners as the value of the bill decreases wouldn't be as good because:
- The smallest bills probably are the most widely used, while few people handle the $100 bills. Therefore, it makes sense to apply the most severe "mutilation" to the least used denomination.
- "More cuts, more value" is easier to remember.
Maristella, a friend of mine from Italy pointed out to me via email that many might just cut the corners of low-value denominations. If that happened, they could then trick visually-impaired people into accepting the mutilated bills as more valuable. Reflecting on the issue, it occurred to me that such a fraud wouldn't be possible if the number of missing corners decreased with the increase of the denomination. Who would cut corners to a banknote if that would make it appear less valuable?
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