Thursday, July 17, 2008

Pacific island nation finds minting coins too difficult, returns to dolphin-tooth standard

I don't know how I missed this important story.

A story by Richard Giedroyc in World Coin News reveals that the Solomon Islands [wikipedia] is informally returning to the practice of using dolphin teeth for spare change (as previously reported by a story by Yaroslav Trofimov in the Wall Street Journal.)

The reason? “The Central Bank of Solomon Islands has called on citizens of the island nation to cash in their coins.... Part of the problem, according to the [Australian Broadcasting Corporation], is that 'The low value of coins in Solomon Islands' currency has led many there to either hoard them, or to give them as gifts to children.' [Radio New Zealand] added, 'However, the number of people doing this is starting to affect businesses.'”


Voz Earl said...
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Voz Earl said...

There's always one fellow who will save all his change for years and then use it to purchase a big ticket item. Imagine someone showing up to pay for a new car--in dolphin teeth! I love it...