Making Change

Roland Piquepaille writes "There are mostly four kinds of coins in circulation in the U.S: 1 cent, 5 cents, 10 cents, and 25 cents. But is it the most efficient way to give back change? This Science News article says that a computer scientist has found an answer. "For the current four-denomination system, [Jeffrey Shallit of the University of Waterloo] found that, on average, a change-maker must return 4.70 coins with every transaction. He discovered two sets of four denominations that minimize the transaction cost. The combination of 1 cent, 5 cents, 18 cents, and 25 cents requires only 3.89 coins in change per transaction, as does the combination of 1 cent, 5 cents, 18 cents, and 29 cents." He also found that change could be done more efficiently in Canada with the introduction of an 83-cent coin and in Europe with the addition of a 1.33- or 1.37-Euro coin. Check this column for more details and references." The paper (postscript) is online.

Comments

When Mathmeticians Lose Touch with Reality

[fobbman]

Sorry, but the average white-bread eating American does not have the mental capacity to use an 18 or 32 coin.

It's nice to know, however, that the University of Waterloo math department doesn't do drug testing of their employees.

Re:When Mathmeticians Lose Touch with Reality

[B9DV8]

That's why we are decriminalizing pot, so those Math Profs don't have to suffer the stigma of criminal records!!

Re:Pirates

[dnahelix]

The coin WAS broken up on some occasions. The pieces were generally called 'bits'.

Two bits, four bits, six bits, a dollar.

Incidentally, the article presents one of the stupidest ideas I have heard in a long time. The /. editors have turned into FUCKTARDS and post CRAP while REJECTING GOOD STORIES.