Home› World & Ancient Coins Forum

Is the end of coins and banknotes near?

HussuloHussulo Posts: 2,953 ✭✭✭
in World & Ancient Coins Forum
A few weeks ago I watched something on the TV. It was an app for a phone which enables a person to pay for any purchase simply by scanning their mobile phone over a device. I take it the phone is somehow linked to their bank and the transfer is made in a swipe. No need to push a bank card in a slot and type a pin no.

Found a link:
http://news.bbc.co.uk/1/hi/sci/tech/1965992.stm

Security issues aside. If this takes off and technology becomes cheaper and even small shops have these devices will this spell the end for coins and banknotes and how will that effect the hobby of coin collecting?

CoinsGB (Free British coin reference website) | Gold Sovereigns

Comments

  • SaorAlbaSaorAlba Posts: 7,593 ✭✭✭✭✭
    Unless you are like me and still prefer good old cash instead of credit/debit cards. My big problem with debit cards are the bank fees. It is also easy to overdraw your account- but curiously whence the cash in your wallet runs out - so does your spending.
    Tir nam beann, nan gleann, s'nan gaisgeach ~ Saorstat Albanaich a nis!
  • IloiloKanoIloiloKano Posts: 1,051
    Technology doesn't appear to have hurt Antiquarian Book Collecting. Such books are rarely purchased in order to be read, and coins are rarely collected in order to to be spent.
    My US-PI One Centavo Circulation Strikes (1903-1944)
  • HussuloHussulo Posts: 2,953 ✭✭✭
    Technology doesn't appear to have hurt Antiquarian Book Collecting. Such books are rarely purchased in order to be read, and coins are rarely collected in order to to be spent.

    Good point but people still buy paper backs and hardback's. I don't think this will happen over night but say in the next generation or the one after. If cash is no longer used will coin collecting be a growing or declining hobby?

    Don't get me wrong I believe there will always be some collectors if only for the historical side alone but thinking back to when I was interested in coin collecting as a child was when I was puling coins out of circulation or being given foreign coins.

    CoinsGB (Free British coin reference website) | Gold Sovereigns
  • BillyKingsleyBillyKingsley Posts: 2,661 ✭✭✭✭
    I don't see it in our lifetime, or even the next generation or two's lifetime, at the earliest.
    Billy Kingsley ANA R-3146356 Cardboard History // Numismatic History
  • questor54questor54 Posts: 1,351 ✭
    When the current currency ponzi-schemes (laughingly referred to as the 'world economy') collapse, we will all be using barter anyway.
Sign In or Register to comment.