Plastic fantastic money - you folks in OZ?

Factual Questions
1

The $1000 bill thing seems to be headed for another debate of the merits of $1 and $2 coins versus bills, and how we are going to obstinately use $1 bills in preference to coins as long as Uncle Sammy keeps printing them. Probably true.

Another way of achieving greater durability and reducing costs is supposed to be to use polymer, ie. plastic, notes. It’s always seemed like a good idea to me - they last longer, go through ATM’s easier, are harder to counterfeit …

Australia is using them. Any opinions from down there? Should we be lobbying our congress critters to shift over to plastic?

Fade out, cuing Shel Silverstein … “Everything’s gonna be plastic by and by …”

2

In N. Ireland we have a plastic £5 note as a trial. I think it’s much better as well.

3

All our money in NZ is now plastic as well (btw, incase anyone reading this is not sure - NZ is not in anyway geographically connected with Australia and we have our own government, currency, accent etc, glad that’s out of the way! - have had to explain on a number of occassions to people I’ve met in the US and around the world) and it’s great. I highly recommend plastic money - less likely to tear, doesn’t crumple, it’s not smelly like the old paper money and if it accidentally gets in with the washing, it survives! And while you’re at it (that’s lobbying for plasic money) go for colour, pictures and size difference on your money too! It’s bloody difficult for blind people and foreigners to use.

4

Apparently it’s a polymer-based note (thanks to the Oz Doper who pointed that out to me!). I loved it when travelling in Australia; a bugger to fold, but I couldn’t tear it or damage it with liquids.

5

The first Aussie banknote to appear in polymer was a $10 around 1988 or so. It was despised by most people (myself included), and was promptly subjected to all kinds of “tests” to prove that it was no good: “hey, I ironed it, and it shrank”, or “I accidently put it in the oven on maximum setting for three hours, and now it doesn’t look so good”.

Now, the notes are all polymer, and I must say I like them.
Pros: Interesting, high-tech, rugged and durable, very hard to counterfeit, slightly less germ-laden.

Cons: They will survive the washing machine, but not the iron. they are hard to fold, so keep them in your wallet, not your pocket (where they will spring out). They are generally very hard to tear, but if they get a small cut in them, they will tear very easily (a bit like ripping a T-shirt in half is easy only after you’ve cut the hem).
We also switched to $1 and $2 coins in the 80s, and got rid of 1c and 2c altogether in the 90s. I think this is a good thing. I’ve heard some Americans complain that they spend too much this way because they aren’t used to coins having any significant value. This may be true, but I think I tend to spend less because it encourages me not to break notes as they suddenly seem more valuable.

I think America should go to plastic (and possibly coins for the lower denominations), if only because of the huge number of fake US bills floating around all over the world. Be prepared to hate them at first, but you’ll get used to them.

The other issue is the use of different sizes and colours for different denominations. I grew up with this, so I’m used to it. I’m always nervous using US currency, and double check it before I hand it over. I’m not sure though, whether it would be suitable for America to convert. Your currency is such an institution, and is quite stylish the way it is. And you guys seem to be used to the one colour and size.

But definitely go plastic.

6

Images of Australian polymer banknotes.
The production process
Why polymer?

7

I’m a recent migrant to Oz, and though I’ve never had it confirmed, I’ve always assumed the notes were made of plastic here so that you could keep your wallet on you when you go surfing or swimming (as nearly everyone on the coast seems to do) and your money would not suffer any damage.

8

Here’s a TMI story about the durability of the polymer notes.

A girlfriend a few years back owned a labrador that used to chew and consume anything it could find - clothes, shoes, trees, fences, paperwork.

One day it found, chewed and swallowed an envelope containing her month’s rent.

Fortunately, the notes were polymer. Unfortunately retrieving them involved following the dog around for days, picking up its droppings, carefully separating the remains of the notes from the other matter, washing them, piecing them together and taking them down to the bank to exchange for new ones.

After several disgusting days, she recovered almost all of her money.

9

ALMOST all of her money?

Anyway, I think the Aussie notes are great but one annoying tendancy is that they tend to chafe if you leave them in your pocket or hand for too long.

Its also a bit annoying trying to fold them as any crease that gets in them tends to be hard to get out.

10

We have them in Thailand too–the Bt50 bill is made of plastic. Not sure why they don’t convert all of them to plastic, maybe it’s in the works.

I’ll admit it hardly feels like money–doesn’t have that “money smell”–but it definitely survives machine washing, beer spills, crumpling, prolonged sunlight, and accidental underfoot grinding.

And according to a friend, rolled up it makes a much better coke snorting tube. Not that I would know…

11

I don’t know about elsewhere, but UK “paper” notes are pulped linen rag. The texture is different to wood pulp (making it harder to counterfeit) and it’s more durable. Whenever I have inadvertently “laundered” a bank note (sorry, someone had to say it) it has survived until I pass a pub. They iron out too. Not that I do this you understand, I just know that they will survive a quick rub with an iron.

I’m not too enthralled with notes that don’t crumple, though. I like to be able to scrunch my cash up and shove it in my pocket when I’m too drunk to fumble with a wallet.

Ditching small denomination coins is a great idea; I’ve got piles of the swines and no matter how hard I try, I can’t spend them faster than I’m given them. It’s a conspiracy, I swear.

12

Thanks for the replies. US currency is also a specially made linen/cotten rag stock and can survive the occasional trip through the washing machine.

Crumpling - the BEP[sup]1[/sup] actually has a test for US currency modifications called the “crumple test”, which involves the money being mechanically crammed into a little tube to see if remains intact. Holograms did not survive this and were rejected. I suspect this might be a sticking point for the polymer bills as well.

It still strikes me as a good idea.

[sup]1[/sup] - Bureau of Engraving and Printing. The US government organization that designs, prints and circulates money.

13

Not much to add except an link to a similarly themed thread onColorful money? and to note all the Aussies in this thread who haven’t yet joineded up on G’Dope and bugger me … MelCthefirst is a kiwi!

[sotto voce]
Hey Ice Wolf, get over here… we’ve found another live one! Reckon you can charm them onboard? I don’t want to frighten them off.
[/sotto voce]

14

Not much to add except an link to a similarly themed thread onColorful money? and to note all the Aussies in this thread who haven’t yet joineded up on G’Dope and bugger me … MelCthefirst is a kiwi!

[sotto voce]
Hey Ice Wolf, get over here… we’ve found another live one! Reckon you can charm them onboard? I don’t want to frighten them off.
[/sotto voce]

15

Actually, the polymer notes cope quite well with being crumpled; they don’t become blurred or anything like that, and they’re considerably more durable than the old notes.

16

[hijack]

You tell 'em, MelCthefirst!

Woolly! Stop whispering about G’Dope, mate! Ya want 'em all to know about the place? Sheesh!

[/hijack]

17

Along the lines of 1$ coins, I wonder why strippers aren’t pushing for them? It’d automatically double their tips as “gentlemen” switch to the 2$ bill!

18

Our $2 is a coin also (bit smaller than the $1). So gentleman in Oz would have to use the $5 note (smallest amount available in note form).

19

Actually old denim blue jeans.