Recycling of US banknotes

Local newspaper today has an article on company in area that has been buying worn-out banknotes from the US government and using them, with other materials, to make toothbrush handles.
http://www.mcall.com/business/mc-biz-berks-county-radius-toothbrush-20180828-story.html

Article says Radius Corp. in Kutztown, Pennsylvania, buys retired US banknotes from US Mint but I think it must be this program of the Bureau of Engraving and Printing that is used. From: https://www.moneyfactory.gov/services/shreddedcurrency.html
"Shredded currency is available through the BEP. Small amounts, as pre-packaged novelty souvenirs, are available for sale in the Washington, DC and Fort Worth visitor centers. Five pound bags of shredded currency can be purchased in our online store and in the Washington, DC visitor center.

Larger amounts of shredded currency for use in artistic or commercial purposes will need to be obtained from a Federal Reserve bank; and written approval from the Chief, Office of Compliance, is required before a Federal Reserve bank will consider honoring currency residue requests. Treasury approval will be based upon the following requirements.

1. The recipient must follow Environmental Protection Agency and other local or state requirements for recycling shredded currency.
2. The shredded currency must not be recycled into paper of printable quality.
3. The residue must not be used as confetti, or in loose form such as used in packing materials.
4. Firmly seal any container in which the residue is placed so that it must be broken in order to remove the residue. The container must be at least 4 mils thick.
5. Due to the presence of various chemicals in ink, the recipient must not use shredded currency for the creation of products designed to hold food or drink for human consumption.
6. If the recipient is intending to make a product with shredded currency, a sample of the product and/or packaging and marketing materials may be required.
7. The recipient must not claim the value of the shredded currency enclosed in a product as having a monetary value greater than the weight of the shredded currency per ounce, or fraction thereof, multiplied by $165 per ounce.
8. The recipient must not ship the shredded currency overseas.
9. The recipient must not place any replica of U.S. currency on any product or container into which shredded currency is placed, or on any related advertising or other written material.
10. The recipient must agree not to resell or otherwise dispose of the residue without Treasury approval."

Will

Interesting.

But what a complete folly it is for a modern nation to still print highly sophisticated and expensive paper $1 bills, with a life expectancy of less than a year, when dollar coins would be so much more cheaper and effective. It is hard to understand the collective psychology behind this kind of pointless conservatism.

I guess the banks all over the world do similar; I got these last year ...

https://en.numista.com/forum/topic56855.html#p473114

Quote: "Camerinvs"​Interesting.
​
​But what a complete folly it is for a modern nation to still print highly sophisticated and expensive paper $1 bills, with a life expectancy of less than a year, when dollar coins would be so much more cheaper and effective. It is hard to understand the collective psychology behind this kind of pointless conservatism.

​+1 ; I couldn't have put that any better myself!

I guess the same reasoning applies to the continued existence of the US penny, and the nickel too. Apparently it's also illegal to melt down pre-1982 US pennies (that contain copper worth more than the penny's face value): https://www.youtube.com/watch?v=y5UT04p5f7U&t=22s

Quote: "CassTaylor"​​+1 ; I couldn't have put that any better myself!
​
​I guess the same reasoning applies to the continued existence of the US penny, and the nickel too. Apparently it's also illegal to melt down pre-1982 US pennies (that contain copper worth more than the penny's face value): https://www.youtube.com/watch?v=y5UT04p5f7U&t=22s

​Yes, especially the penny. I think a more important reason is, like so often in the US, lobbying. The zinc lobby is working hard to make sure politicians place their own interests and those of their rich friends above that of the American people.

Perhaps there is a cotton lobby as well, which makes sure the paper bill will keep on being printed at huge losses? It wouldn't surprise me.

Yet the government tried to introduce the Susan B Anthony dollars many decades ago but failed miserably. Was it because of lobbying or because of the conservative mentality?

The US population just does not like coins. The Presidential dollars were a recent failure. Stores and other businesses do not like dollar coins because cash registers do not have drawers for them and they would require vending machines to be refitted for them.

Will

OK, but because of inflation, a dollar in 2018 has the purchasing power of a quarter in the early 1970s.

Canada switched to a dollar coin in 1987, with many opposing the move back then, and some even making the idiotic claim that we should have both paper and coin circulating side by side. Now we have "looneys" which have been circulating since 1987 ─for over three decades─ and no one in his/her right mind would want to go back to a $1 banknote.

@Camerinvs
Methinks the blame for this pointless, conservative inertia there lies in both of those factors you mentioned.

Another gripe I commonly hear about US currency is how all the notes of all the denominations are the same size, 187x79mm (barring slight cutting margin deviations). That probably makes counting less efficient, as well as not helping the visually-impaired in any possible way either.

Just about every other currency I've experienced using (British pound sterling, Euro, Swiss franc, Russian rouble, Singapore dollar, Chinese yuan, Japanese yen, etc.) has their notes in progressively larger physical sizes.

Quote: "CassTaylor"​@Camerinvs
​Another gripe I commonly hear about US currency is how all the notes of all the denominations are the same size, 187x79mm (barring slight cutting margin deviations). That probably makes counting less efficient, as well as not helping the visually-impaired in any possible way either.
​
​Just about every other currency I've experienced using (British pound sterling, Euro, Swiss franc, Russian rouble, Singapore dollar, Chinese yuan, Japanese yen, etc.) has their notes in progressively larger physical sizes.

​I suppose it's a North American thing since Canada and Mexico also have notes all of the same size. I'm not sure about Central and South America.

In Canada, Braille is added, which is probably more efficient now that we use polymer; I'm not sure it was that efficient with the old cotton-based notes.

At first, when you're not used to it, notes of different sizes is rather annoying. But one gets used to it quickly enough.

Quote: "CassTaylor"​@Camerinvs
​Methinks the blame for this pointless, conservative inertia there lies in both of those factors you mentioned.
​
​Another gripe I commonly hear about US currency is how all the notes of all the denominations are the same size, 187x79mm (barring slight cutting margin deviations). That probably makes counting less efficient, as well as not helping the visually-impaired in any possible way either.
​
​Just about every other currency I've experienced using (British pound sterling, Euro, Swiss franc, Russian rouble, Singapore dollar, Chinese yuan, Japanese yen, etc.) has their notes in progressively larger physical sizes.

​
I quite like all my bills being of the same size. Every once and a while I’ll find a foreign banknote and put it in my wallet and the size disparity irks me and messes up my nicely organized wallet.

Well, I suppose it has its pros and cons. But it just doesn't seem "right" to me, to have the $100 (or even the 1934 10,000 $ note) the exact same size as a $1 Washington.

Now I'm wondering how US polymer notes would look like (or if they'll ever be a reality).

My notes are always organized by increasing value in my wallet.

Note that all of us here are used to the nickel/5¢ being twice as big as the dime/10¢, though it has half the value. This doesn't make sense. There are, of course, historical reasons for this, but they go back to the 1860s (US) and early 1920s (Canada). In some ways, the size of those coins is a "numismatic fossil", just like the names "penny" or "dinar" are linguistic fossils.

Canada will get rid of the nickel within the next several years precisely because it is not worth minting a coin of such low value at a higher cost in metal than the dime, also in handling and shipping, storage, etc...

... which probably means that we'll substitute a 20¢ for the quarter, and revive the 50¢ as a circulating coin... with Liz's fifth portrait, or Charles'?

Quote: "Roublizer"​

Quote: "CassTaylor"​@Camerinvs
​​Methinks the blame for this pointless, conservative inertia there lies in both of those factors you mentioned.
​​
​​Another gripe I commonly hear about US currency is how all the notes of all the denominations are the same size, 187x79mm (barring slight cutting margin deviations). That probably makes counting less efficient, as well as not helping the visually-impaired in any possible way either.
​​
​​Just about every other currency I've experienced using (British pound sterling, Euro, Swiss franc, Russian rouble, Singapore dollar, Chinese yuan, Japanese yen, etc.) has their notes in progressively larger physical sizes.

​​
​I quite like all my bills being of the same size. Every once and a while I’ll find a foreign banknote and put it in my wallet and the size disparity irks me and messes up my nicely organized wallet.

​That was always my issue in Europe when I lived there. I hated the notes that were bigger than my wallet...not that I was often carrying them around...I also had to use one pocket for all of my change. As I coin collector more coins is awesome! practically speaking, more change was a pain outside of the 1 and 2 euro coins

When I get change as notes, I usually just put them in my pocket and throw them in some kind of a box when I arrive home. I often do the same thing with coins.

Quote: "Monninen1"​When I get change as notes, I usually just put them in my pocket and throw them in some kind of a box when I arrive home. I often do the same thing with coins.

​I do pretty much the same; way less organised than some folks I know!

Sometimes when I am adding to my collection, I forget to put change in my wallet, just slipping it into my pocket instead, and then I discover it when I get home and rush out to spend it on one or two more coins.