Talk:Currency of the MR
Just a nitpick. It's your currency, of course, but having 240 lepta to the mina makes it similar to the old Roman-derived British money *here: 1 pound = 20 shillings, 1 shilling = 12d. The 5/2/1 scheme for coin denominations makes perfect sense in a decimal currency, but with 12 as a base unit, it seems to me that 6 lepta, 3 lepta and possibly even 4 lepta make more sense. Also, a 20 drachmae coin is the same as a 1 mina. You might well have both; I kind of like the idea myself. Now, there's no legal reason that the MR couldn't have coinage in odd denominations, but it would probably take more effort to do it that way, especially for a small state.
BTW, do you have denominations of fractions of a lepton(sp?) like the old British halfpennies and farthings? - Geoff 10:32, 29 June 2009 (UTC)
- Indeed, very similar to the old British (and indeed, old French and old Italian and old German) currencies. See currency for the details; the MR is now known to have signed on to the European Federation (kind of like the eurozone *here*) and its pan-European currency union. While *here* everyone shares the euro, *there* everyone shares the livre. Per recent discussion on Conculture, Charlie will be altering the coin scheme to align the MR's coins with EF standards.
- The MR is certainly welcome to have both mina notes and 20dr coins -- Kemr has both pound notes and 20s coins (or was it pound coins and 20s notes??).
- As for odd denomination coins, the EF only stipulates that "typical coin denominations" are ½, 1, 3, 6 pence/lepta; 1, 5 and 10 shillings/drachmae; 1 pound/mina. There's no reason why all of them have to be minted -- you could get along with only pennies and shillings but then you'd be forcing people to lug around bags full of pennies after making chance for small purchases! Charlie mentioned rounding prices -- that's certainly one way of avoiding the issue of fractional penny coins, though the penny itself has a strong enough buying power that it might not be a popular custom. Especially among tourists who are used to exact change down to the halfpenny or smaller. The MR is also within its rights to issue non-standard denominations -- both Spain and all the FK countires do this. So long as they fit the general scheme, there is quite a lot of latitude in that regard. Elemtilas 16:35, 29 June 2009 (UTC)
Reason for fixing coin denominations
I fixed the following paragraph: The bills are in denominations of M200, 100, 50, 20, 10, 5, and 1. Coins are minted in denominations of δ20, 10, 5, 2, and 1; and λ100, 50, 20, 10, and 5.
λ100 is pretty close to half a mina -- and I didn't think you meant to have a penny denominated coin of such a high value. It would be kind of like us having a 48c coin; it doesn't fit anywhere.
I liked the idea of prices being rounded (though I can only imagine a general boycott of the MR by every Scot, on account of being scandalised to the core by a) the price of a penny candy being rounded up to 6d and b) not receiving a farthing in change for a 4 and 3/4 pence purchase, which, horror of horrors, would be rounded up to 6 pence anyway), so got rid of the superfluous 3d and 1/2d coins. Could probably also get rid of the 1 lepton coin as well, since 6d is the smallest value in typical use. I leave that for you to decide, but think it would be quite an interesting quirk. (And, naturally, for all those extra pennies and three penny coins the tourists bring to the MR but typically can't use -- well, I'm sure there's always a convenient donation box they can be dropped in!)
I also changed the example written value in the preceding paragraph. Just like in decimal where we don't say something like "four dollars and three-hundred-thirty-three cents", they wouldn't say "four pounds and sixty-eight shillings", there being 100 cents to a dollar *here* and 20 shillings to a pound *there*, any amount above that limit causes an increase of value in the next column to the left. Elemtilas 18:00, 1 July 2009 (UTC)