Could This Pandemic Signal The End Of Coins And Paper Money?

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A recent conversation with my friends over Zoom was part of the thought behind this post. I had already pondered over this in the last month, but it made me realise that other people think the same way I do about the safety of something we have been using all our lives. All of us have stopped using physical money. No coins. No notes. Which got me thinking. Could this pandemic signal the end of coins and paper money?

 

Could This Pandemic Signal The End Of Coins And Paper Money?

 

Could this pandemic signal the end of coins and paper money? Here are my thoughts on how this virus may change our way of paying for good. - #cash #dirtymoney #money #cash #pandemic

 

I don’t know about you, but I haven’t actually used cold hard cash for about a month now. I’ve only been for 3 food shops in the last four weeks. And only one of those was an actual walk round the supermarket, the other two were collections. On the occasion when I went into the supermarket I paid with my card at a self service till rather than get close to a server.

So it actually got me thinking, could this be the end for physical money?

 

Dirty Cash

 

It is no secret that physical money has probably been through the hands, pockets and purses of several people before it reaches you. My OH’s father (who owned a shop) always used to comment that it ‘could have been up someone’s bum’. Yes, it’s rather crass, but after all I have seen and heard in my medical career he probably wasn’t far out with that assumption. Money is not very clean at the best of times, let alone in a pandemic.

Remember that old experiment with peanuts in a bar? Some people still don’t wash their hands after going to the loo. So you can imagine how dirty money can be too…

Coins and paper money have the ability to pick up so many germs on their travels. And the current virus maybe is the last straw. As evidence suggests it lingers on metal and plastic surfaces for up to 3 days, then money really is the perfect transmission tool to spread the virus. In fact a lot of retailers are shunning cash in favour of card payments only. Maybe now is the impetus to lose cash for good?

 

Contactless Moolah

 

And really, do we still need physical cash these days? It is so easy to pay without touching. Yes, I don’t really trust contactless paying, and have probably only used it twice since contactless became a thing. But it is still a way to pay from a distance without any possible risk.

In fact, the incentive to go contactless has been positively encouraged with the lifting of the limit for contactless payment rising from £30 to £40 here in the UK. This helps reduce the need for contact much more.

Even if you don’t like contactless, you can use the old ‘chip and pin’ method. It has been around in the UK for 15 years after all!

 

Internet Lifestyle

 

Obviously these days it is so easy to order everything online, from food to pharmacy goods. You can even order your Uber and pay before your travel. So why have cash? 

It is perfectly possible to go on a night out, from a restaurant and bars, to your journey home using just a contactless and prepaid taxi all the way.

 

Old People Prefer Cash

 

And I really do get the argument that the older generations aren’t as tech savvy and don’t like internet banking, or paying by cards. My own mum would rather have cash that use her cards.

But it may have to come to it. This may have to be the last straw for actually having cash over cards. And I don’t believe that the older generation cannot get their heads around that.

 

See my post here on staying positive through these strange times.

 

So what do you think? Could this pandemic signal the end of coins and paper money? Or do you think that cash will always be an option? I’d love to know your thoughts. Comment below, or contact me on my social media channels.

 

And please do pin this post for later.

 

Could this pandemic signal the end of coins and paper money? Here are my thoughts on how this virus may change our way of paying for good. - #cash #dirtymoney #money #cash #pandemic

8 Replies to “Could This Pandemic Signal The End Of Coins And Paper Money?”

  1. Michelle says:

    I haven’t used paper money for a long time. Usually the only time I use it is when I’m at a thrift sale where they do not accept credit cards. And since all this has been going on I’ve only been shopping online.

    Reply
    1. Jo Boyne says:

      Yes, I do appreciate that for garage sales and car boot sales cash will still be needed. But I do think this virus will hasten a cashless society.

      Reply
  2. Alex says:

    I think the days of using cash has been dwindling for a while now. The pandemic will only speed up the process before cash is no more. Personally, I usually like to have a little cash around (just in case) but I haven’t used cash for the last month or two. #MMBC

    Reply
  3. Carol says:

    There has been a trend toward less physical money and checks for decades, but I think there will always be a need for a little $. Back in 2007 I had a discussion with a gentleman who wanted to get rid of checks. I said what do people put in the collection plate at church? Money and checks. I could see his wheels turning in his brain and could just see his dream of ATM’s at the church. I don’t like that vision myself. #MMBC

    Reply
  4. Joanne says:

    I have heard of this speculation too. I’ve even heard rumors that here in the states congress has been talking about phasing our money. But, I have actually been using more cash than ever these past few weeks since I’m only grocery shopping… in talking with others I do wonder what would happen to things like yard sales, bake sales, charity donation type things. I just don’t see how we’d get around the usefulness of cash.
    Joanne recently posted…Decorating A Tray for Summer Using the CricutMy Profile

    Reply
  5. Hannah says:

    So true – I haven’t used cash for months and didn’t all that often before that to be fair! You could well be right x #MMBC

    Reply
  6. seekkr says:

    I haven’t used paper money for a long time. Usually the only time I use it is when I’m at a thrift sale where they do not accept credit cards. And since all this has been going on I’ve only been shopping online.

    Reply

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