The E-Sylum:  Volume 10, Number 4, January 28, 2007, Article 14

THE CASE AGAINST MICROCHIPS IN COINS

I thought Dick Johnson's more recent proposals would bring more of a
response from readers.  Regarding the one about placing microchips in
coins, Steve D'Ippolito writes: "I don't like this proposal for a number
of reasons:  First off, it wouldn't work unless you want to make it
illegal to use the coin without passing it through a reader--and not
all transactions take place in storefronts!

"Second off, it would be over the top to expect people to go through
this rigamarole just to be able to establish how many transactions a
coin has been through.

"Third, the grading services would still be primarily looking at the
coin.  If I get a $10 piece from the bank and keep it in my pocket for
ten years, the coin will be in pretty sad shape even if the chip says
it's been through one transaction (bank->me).

"This all assumes that we can come up with a chip that won't be
pulverized by the pressures in the coin press.  But my big objection is:
"It is a huge violation of privacy.  I do NOT give a flying rip whether
some collector will somehow think a coin is more valuable if he knows
where it has been.  It is fundamentally no one's business what I spend
my money on."

  Wayne Homren, Editor

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