The Future of Currency

For the first time since the Roman Empire, much of Europe is covered under a single currency, and pundits everywhere are commenting on the effect the euro will have on economics and on political integration in Europe. But they are not focusing on one of the most important aspects of the euro—its look.

Gone are the days when mathematicians, authors, musicians and patriots graced the mark, franc, lira and guilder, highlighting the achievements of the greatest persons produced by their motherlands. The euro features bridges in different architectural styles, symbolizing communication within Europe and with the rest of the world, and windows and gateways, which stand for openness and cooperation.

Additionally, the euro is equipped with the most advanced anti-counterfeiting features of any currency. With a quick glance, you’ll notice holograms—with three different layers. Upon closer examination, there are numerous watermarks, raised print and in the correct light, the denomination on the bill changes color.

But is all this really good for the future of currency? The euro’s bright colors, holograms, pictures and different sizes (based on denomination) all fly in the face of traditional America currency—green, dignified, classical and standard in size. The Treasury Department responded a few years ago by increasing the size of its portraits to the same size as those on the mark and other European currencies and by adding large blank spaces to bills, also a feature of the old European currencies. It even attempted to discard the dollar in favor of a coin.

It seems that the United States is progressing to a currency with a more futuristic design, and there are some that support this shift. My avant-garde, immensely pro-euro German blockmate spares no effort in explaining the benefits of such a currency design: It’s harder to counterfeit, has a democratizing effect, and looks to the future, not the past. And I agree that this all makes perfect sense.

But be that as it may, this author stands by the greenback.

To trade the firm but learned countenances of Jackson, Franklin and Grant, the intricacy and majesty of the Great Seal of the United States, and the classically inspired quiet dignity of each Federal Reserve note in favor of inanimate bridges, futuristic holograms and bright colors would be folly.

Although I’m happy that Europe begins this year with a new, modern currency, the United States of America must resist the increasing pressure to futurize its bills. More open spaces and larger portraits are the first step down the wrong road. Modern bills may seem trendy now, but take another look at Washington, Lincoln or Hamilton and then see if you’re willing to give up history and sophistication. I, for one, am not.