RISE OF THE AMERO

[AMERO-migration]

Who here thinks this will hurt our hobby?????

[EZ_E]

Good question. I'm definitely opposed to it since I am not a globalist but I'm sure people will collect it.

 

How this will affect the market for classical American coinage is the question to be asked.

[pendragon1998]

If or when the amero begins being issued, I think there will be bigger issues at hand than the future of American numismatics.

 

To address the question: how has the euro affected the collection of European coins?

[DC Dawg]

Where did this come from? I have not heard anyone talk about the Amero in more than a year!

 

Aside from being a stupid idea, the effect on numismatics will be to make anything dollar-related worth more when they are no longer being minted. There has been some anecdotal evidence that the original European currencies were not saved in any great numbers. When someone figures out what "modern" non-Euro coins are left, there could be some nice rarities. That could happen in the US.

 

Another effect would be to kill the hobby. Even though the Canadian dollar is on par with the US dollar, the growth potential of the US economy is different and can be accellerated over the Canadian economy. And the Mexican economy has been in shambles for years. Canada will hold back the value of the new currency and Mexico will bring it down. Mess with the value and watch the prices of everything, including coins, rise.

 

One of the reasons for the success of the Euro was that those participating in the European Union agreed to various measures that would make each country economically, and even socially, more equal. Think of it as the United Sates of Europe. But that will not work in North America. There is no incentive for the US to participate. Canada may see some benefit but they may have to sacrafice some independence to a "union" for policies they may not agree with. Mexico would benefit the most economically and socially. But the corruption of the Mexican government is so bad that it will bring down the value of a common currency.

 

The United States would have the most to loose... including the value of its currency which would negatively impact the cost of coins and other collectibles.

 

Scott

[jesbroken]

I agree with Michael, issues of far more importance will be at hand when this occurs(as is currently being designed-see transamerican highway). I doubt that it would affect numismatics greatly, but who will care at this point.

[physics-fan3.14]

I think in general it is a bad idea. The Euro was a better idea since the countries and economies are more closely linked and related over there. As Scott pointed out, North America is dominated by three very different and very large countries. A North American unified currency is a bad idea and won't happen until the US loses its major world power status, which I don't see happening anytime soon.

 

On the other hand, a single unified African currency is far closer to happening. I believe sections of Africa already have a unified currency, and they are working towards unifying the continent. The problem over there is that they can't stop shooting each other. Once they get all that straightened out, it would be a good thing for them.

[RWB]

Hmmm....how about celestias, lunas, erg-coins, and any other imaginary "coins" or international monetary units?" Scott, physics-fan3.14, etc. certainly seem to be on the nose with this.

[DaveG]

Um, isn't the "single, unified African currency" unit called the US Dollar?

[physics-fan3.14]

Um, isn't the "single, unified African currency" unit called the US Dollar?

 

Yes, many countries base their currency on the US dollar. But look for example at the East African Shilling. This is a unified currency for East Africa that will be occuring in the next couple of years. But the one that is really unified, and has been for decades, is the West Africa. They have had a unified currency since they were French colonies. Today, they all use the West African franc. This single currency encompasses 6 different countries, but they have plans to introduce the Eco in 2009 in many more countries. The African Union is trying to make the transition to something similar to the European Union gradually, and these regional blocs are forming first. I believe, actually, that South America is trying to do something similar, but I am not as sure about that.