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A208953 Amounts (in cents) of coins in denominations suggested by Shallit. 2
1, 5, 10, 18, 25, 50 (list; graph; refs; listen; history; text; internal format)
OFFSET

1,2

COMMENTS

The following is quoted (with minor changes) from Alan Burdick's article: "Jeffrey Shallit analyzed the average handful of change, and devised a clever way to reduce its size. Getting rid of the 1-cent coin, a plot advocated by numerous antipennyists, would certainly help, he says. But Shallit's own scheme for reducing loose change involves the creation of an entirely new coin. What the United States needs, he says, is an 18-cent piece. Shallit reached this conclusion by a linear Diophantine equation. Shallit calculated that the average U.S. transaction produces 4.7 coins in change. If we got rid of the dime and replaced it with an 18-cent coin, the "cost" of the average transaction would drop from 4.7 to 3.89 coins. A system of coins worth 1¢, 5¢, 18¢, and 29¢ would have the same effect. Should we wish to keep the dime and simply add a fifth denomination, the best coin to add would be 32¢, for an efficiency of 3.46. Even better, if we kept the dime and actually used the half-dollar, then added an 18-cent coin to that mix, we'd gain maximum efficiency: You'd get back a mere 3.18 coins per transaction."

LINKS

Table of n, a(n) for n=1..6.

Alan Burdick, The Physics of . . . Pocket Change. What we really need to solve the problem of loose and useless lucre is a new coin, Discover, October 2003 issue; published online October 1, 2003.

CROSSREFS

Cf. A212773, A212774, A008588, A008593, A008597, A008598, A135631.

Sequence in context: A313989 A313990 A313991 * A092390 A035608 A091386

Adjacent sequences:  A208950 A208951 A208952 * A208954 A208955 A208956

KEYWORD

nonn,fini,full

AUTHOR

Jonathan Vos Post, May 31 2012

STATUS

approved

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Last modified October 14 18:28 EDT 2019. Contains 328022 sequences. (Running on oeis4.)