"Change" Management, Part II

Here in the Land of Lincoln we're proud of our pennies. Yet according to that Discover magazine article (see prior post) "In a penny-less world, the number of coins per transaction would drop from 4.7 to 2.7 - a whopping 42 percent reduction."

(Pause for effect.)

Here are some other interesting factoids from the article about change:

"About $600 worth of coins pass through the hands of a typical American each year."

"More than $10 billion in coins is sitting around in drawers, cans, bottles, and bins in American homes."

"Another $13.5 billion in coins is in circulation.'

"A group calling itself Americans for Common Cents claims the cost of minting a penny is $0.0081 and that the U.S. Treasury makes as much as $35 million a year on them."

"According to a Coinstar National Currency Poll, 73 percent of Americans use coins to scratch off lottery tickets, 29 percent use them in magic tricks, and 7 percent use them to steady table legs."

Sorta puts a whole new spin on "Change" Management, wouldn't you say?!