Coin or Note?
Updated: Apr 8, 2020
Still remember one of a science questions during my primary school days "Which is heavier: 1kg of metal or 1kg of feathers?" I'm sure we can easily handle this question now.
How about this "Which has a higher value: $1 coin or $1 note?"
"Fab, is that a trick question again?"
Many people dislike keeping too much coin in their wallet or purse as they add weight. Our Singapore coin each weighs between 1.70g to 7.62g. Coins are deemed dirtier because of the metal smell whilst our ploymer notes today wouldn't carry any smell because of its make. When we make small purchases like candies, bus tickets or newspapers, we would usually transact using coins. Walking pass students on the street asking for donation, we would usually look for coins in our pockets first.
Studies have shown that people considered coin as loose change that is more disposable and of lesser value than notes. A note, by contrast still seemed to represent a more significant sum to be used cautiously.
"Studies have shown that people considered
coin as loose change that is more disposable and
of lesser value than notes."
Imagine putting two $1 coins into a donation tin as compared to a $2 note. How about donating ten 20cents as compared to a $2 note? You get what I mean. From another perspective, a $1 coin in Singapore context may be well appreciated as some deemed the octagon shape carries "fengshui" meaning to it.
I have a friend who is a 50cent coins collector and I asked him why 50cents. After giving much thoughts, he said that's his habit since young as 50cents coin has the biggest shape amongst all the other coins.
These are some interesting studies showing that the forms and sizes of money does change our sense of its value, but in fact every cent matters.... Read on next post.