Cash is a symbol of national sovereignty

The U.S. penny, a symbol of American commerce since 1793, is disappearing amid unprecedented turmoil. The Treasury’s decision earlier this year to halt penny production, driven by cost-saving measures has left retailers, consumers, and policymakers scrambling.

Global banknote demand is rebounding post-pandemic, returning to pre-2020 trends. The introduction of new high-denomination notes has slowed, yet cash remains vital as a store of value. Cash infrastructure must adapt to declining transactional use and rising precautionary demand.

The introduction of a digital euro by the European Central Bank (ECB) aims to safeguard the role of public money and maintain trust in the euro. However, its success in mimicking the cash-like properties—such as anonymity, universal acceptance, and resilience—will depend on ensuring a functioning and robust cash ecosystem.

Swiss lawmakers voted in March in favour of enshrining cash in the country's constitution.

Cash is making a comeback! Recent data shows a shift from decline to plateau in cash payments. Despite digital growth, cash remains essential in our payment systems.

France's National Payments Committee urges immediate action to secure future payments sovereignty amid rising geopolitical tensions. Cash is crucial for economic resilience, industrial autonomy and national sovereignty.

Estimating the number of banknotes in circulation globally is a significant challenge. Some countries do not publish the data while others only do so irregularly. Furthermore, central banks follow different practices with regard to the inclusion of lost, destroyed or unredeemed notes. The biggest discrepancies result from the inclusion or not of certain denominations such as older, unused or withdrawn denominations. The study concludes that there are significantly more than 900 billion banknotes in circulation worldwide, significantly more than the 550 billion cited in various industry papers.

Visa and Mastercard are ramping up efforts to win over German consumers, leveraging global marketing muscle with locally resonant campaigns. Despite Germany’s traditionally cash-centric culture, both brands are pushing to shift perceptions and boost card usage through storytelling, sponsorships, and advertising.

On March 17th, the Spanish Congress of Deputies hosted the conference "Financial Inclusion in Spain: Cash as a Safe and Sustainable Solution," organized by the Denaria Platform. The event brought together experts and institutional representatives to discuss regulatory restrictions affecting cash use and their implications for the economy and national security.

A penny for your thoughts? The humble penny is more than just a coin—it's a symbol of American history and thrift. As debates about its future continue, let's explore why every penny counts.

Elsewhere on the Web provides updates and links to articles related to cash, money and payments curated on the web. This month, Bulgaria and Mozambique see cash in circulation increase whereas the in UK cash usage rebounds as shoppers use it to help them budget. India is halting its move towards a cashless society to embrace financial inclusion for all.

A new paper analyzes the role of a well-functioning cash infrastructure for the stabilizing role of cash and the resilience of cash cycles. It highlights the critical role of the 4 A's - access, availability, acceptance, and affordability - as crucial building blocks of a robust cash infrastructure.