Friday, September 24, 2010

New U.S. currency? It's about time.

In some countries around the world, paper currency has long been various sizes or colors or both for the different denominations.

Great Britain

A number of years ago, I went on a business trip to Malaysia.  I saw their colorful, different-sized money and commented on how cool it looked.  My friends mentioned how American money was all the same size and looked very similar and was hard to tell one bill from another.  I had grown up with it, so it wasn't a problem for me, but I understood what they were saying.


Now the Dollar ReDe$ign Project is proposing changes to U.S. currency.  I'm not keen on their reason for the change  -- "the 'only' realistic way for a swift economic recovery is through a thorough, in-depth, rebranding scheme".  It will make it easier for everyone to know, at a glance, which bills are being exchanged.  And visitors to the U.S. will also have an easier time.  As with any change, there will be issues.  But this change is the way to go.

One good-sized issue will be electronic money changers and vending machines.  These will need to be retrofitted to take the new bills.

Another issue is when the new bills hit the street, counterfeiters will take advantage of the fact that people aren't used to the new money, and do their best to pass phoney money.  A good educational marketing plan would take care of this.

Example DollarReDe$ignProject submission

Note: Having President Obama is a bit presumptuous, but I'm sure we can agree on a previous president to have on the $1 bill.

No comments:

Post a Comment