Change
Loose change , also known as hard money , is cash in the form of coins that have little value. In some Alemannic-speaking regions, the term coin is also used for small change.
Usually you separate the coins from the bills in your wallet by placing them in a separate compartment.
An alternative is the cash card , provided the shop has a card reader . The Coin Act and EC Regulation No. 974/98 regulate the amount of coins up to which it is reasonable to accept change in retail . Collected change can usually be exchanged at the state central banks or the house bank.
In a figurative sense, one also says: “He lacks the necessary change.” That can mean that something is far too expensive for someone or that he cannot afford it.
history
In the First World War, all warring parties had high cash needs. The salary was then paid out in cash.
“The 750 million marks required by the Supreme Army Command in the first six days of mobilization led to a shortage of small change up to 5 marks, even though all mints were working at full speed. In order to maintain payment transactions, cities, municipalities and companies with state tolerance issued their own emergency money at 50 pfennigs, 1, 2, 3 and 5 marks in August and September 1914. When the essential raw materials copper and nickel became scarce, the Reich stopped minting copper / nickel up to 10 pfennigs in 1915/16 and instead issued coins made of iron, zinc and aluminum. But the quantities of coins produced did not meet the demand, especially since the population hoarded the old copper money that had not been disregarded. In addition, several city administrations and authorities hoarded change in the millions in order to be able to meet their own payment obligations. Due to the acute shortage of change, more than 2,000 municipal and private issuing offices again issued emergency coins and change replacement notes in 1915/16. Special camp fees were introduced for prisoners of war. "
Main article: German inflation 1914 to 1923
Inflation made the smallest small change coins obsolete in various countries (because they were practically worthless). Adjustments often took place in such a way that one or more zeros in the currency (sometimes on the banknotes) were deleted. Examples:
- French Franc : As inflation caused prices in France to get an 'unwieldy number of zeros', the introduction of the Nouveau Franc (NF) on January 1, 1960 was ordered in 1958. A NF, officially only called Franc (F) since 1963, corresponded to 100 old Francs (anciens francs). The old franc coins could continue to be used as centimes .
- Italian lira : when it was introduced around 1860, a lira was so valuable that the centesimo was also introduced (100 centesimos = 1 lira). Inflation caused the lira to lose value and the centesimo to lose importance. Later there were also no more 1 lira coins (the last were minted in 1959).
- Turkish Lira : On January 1, 2005, the “New Turkish Lira” replaced the “Turkish Lira”. Turkey deleted six zeros in one fell swoop: 1 million “Türk Lirasi” (TL) became 1 “Yeni Türk Lirasi” (YTL).
- Argentine peso : zeros have been deleted several times.
- Norwegian krone : there have been no more Öre coins in circulation since May 2012 due to inflation (100 Öre = 1 krone)
literature
- Birger P. Priddat: "Small change. The hidden side of money", Berlin: Kadmos 2010
See also
- Nummularius , a coin validator in the Roman Empire
- Hedge coin - a secret, unlawful mint
- Primitive money
- Means of payment
- Divisional coin
- Kurant coin
- Exchange thaler
- Gallop changer
Web links
Individual evidence
- ^ Dhm.de ( German Historical Museum ): The inflation from 1914 to 1923
- ↑ Numispedia
- ↑ faz, net: [1]