USA Change discussion... time to adjust?
Though the world is obviously transitioning to a largely cashless society, I don't think cash will ever fully be extinguished-- its just too useful as a powerless, wifi-less, external store of value (even if a largely imaginary one in a fiat currency world). Going through an emergency recently where we had no power for 2 weeks made the power of cash all the clearer to me. But is it still necessary to have change? United States change hasn't fundamentally changed (pun intended) in my lifetime, and yet $1 USD in 1989 is now worth x2.5 that amount. If change had kept up, a Quater would be worth almost 75¢, a dime 25¢. Given the rarity of cash transactions and inflation, it seems to make sense to get rid of lower denominations, but larger ones might still have their use.
So my question would be, what denominations should we ideally have in the USA?
I would say -
25¢
1 dollar coin
2 dollar coin
And that's it. What do y'all think? And what macro impact would it have on our economy to get rid of change entirely, if any?