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Re:Cash payments above €3000 to be outlawed in Netherlands by ldhough on Wednesday August 23, 2023 @11:03AM (#37237156)
I was recently in El Salvador, which uses the USD as an official currency (alongside BTC lol). Despite using dollars, the $1 coins are used instead of notes almost exclusively for that denomination (mostly presidential dollars and some silver Susan B Anthony dollars). I was curious and did a bit of research, apparently the reason is that because day-to-day transactions are done almost entirely in small amounts of cash the paper notes have a very short lifespan (apparently <1yr) there, while coins will last decades.
Re:Cash payments above €3000 to be outlawed in Netherlands by toast0 on Wednesday August 23, 2023 @11:58AM (#37238045)
Yeah, that makes sense. Coins are clearly more durable, and for denominations that are handled frequently in places without access to federal reserve replacement, durability wins over preference / aggregate weight and volume.

In mainland US, preference for paper $1s isn't unduly burdensome. As a merchant, deposit the worst of the $1s and use the rest as change, no big deal. As a consumer, if someone doesn't take your grimy, half torn $1, try it a couple more places and then take it to a bank (perhaps even your bank). But it's unsurprising that doesn't really work for El Salvador.

Re:Cash payments above €3000 to be outlawed in Netherlands by el-salvador on Thursday August 24, 2023 @08:53PM (#37256523)
Yup. El Salvador started importing dollar coins around 2012 in order to reduce currency substitution costs.