What can you buy with 1, 5, or 10 yen coins? Yep, not much. One of our students had emptied his wallet from all the small coins every time he had some, and at the end of the exchange this was the result: a heavy bag of coins!
Japan could consider denominating the yen. In other words it means, to move the decimal so that 100 yen would equal to 1. It would bring several benefits for Japan:
- The calculation of money would be easier as it is easier for human brains to comprehend and process smaller figures.
- The weight of your wallet would drop notably, and thus with lighter overall weight one could e.g. walk faster.
- All the vending machines, train ticket machines and bus ticket machines etc. that accept coins and bills should be changed, which would have a huge impact on economy in terms of job creation.
Great idea, huh? I will tell about it right away to my old buddy Hatoyama-san.
