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What Are The Advantages And Disadvantages Of Plastic Money And Paper Money

Advantages of Paper Money:

The printing of paper money is easy to print with low cost and saving the time. one thousand rupee note can easily be transferred from one place to another place. The counting of big amount of coins is a tedious.

Paper money has elastic supply and it can be printed for any purpose at any time. It also helps to Govt. for emergency uses such as war or depression period.

Paper money is easy to recognize now a days, even a small child can recognize paper money.

Disadvantages of Paper Money:

The paper money have no stability of value in it, value of each paper money changes with time and with change in monetary conditions of countries. When the Govt. faces financial trouble, then, Govt. print more currency notes. As a result, the prices of the commodities go up and country faces inflation.

The gold and silver coins are accepted by every country,
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It is easier to print paper money than metallic money,
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The following are the advantages of paper money:

It is a cheaper currency:

Metallic coins require gold and silver as their raw materials while paper money requires paper,
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It is more convenient to handle:

It can be carried to long distances more easily than metallic money. A person can carry notes of ten thousands of dollars for distance of five miles easily without any inconveniences while he cannot do so if he were to carry ten thousand dollars

It is portable:

It satisfies the condition of portability in a greater degree than metallic money does. It represents more value in smaller bulk so that it is cheaper, easier and safer than metallic money or sending to long distances to make payments.

It is easier to count:

In daily transaction paper money is more convenient than metallic money. In the latter case the process of counting and observing to ascertain their genuine is a tiresome work which is not necessary in the case of paper money. There is less stability of value in paper money as compared to the metallic money. This causes marked and erratic value changes. People lose confidence in the value of money and keep their saving by purchasing gold and silver rather than in the paper currency of the country.

In case of demonetization of paper money as has been done by Pakistan recently, those who could not deposit the demonetized notes due to one reason or the order had to lose all the value. As the demonetized paper notes cease to be legal tender in the country, therefore, they are not worth the paper on which they are printed. Outside the country, only stable paper money has the exchange value.

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