Factors affecting the perceived value of coins

Bruce, Vicki; Gilmore, David J.; Mason, Lynn; Mayhew, Pamela

doi:10.1016/0167-4870(83)90038-7

Cited by 12 publications

(5 citation statements)

References 5 publications

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“…There is also evidence that people have lay theories linking value and visual characteristics, such that the size of a coin positively correlates with its inherent value (Kirkland and Flanagan 1979). This relationship has been shown to operate on numerous dimensions, from color, to thickness, to even the coin's physical shape (Bruce et al 1983). The question that has yet to be addressed is, what does this mean for consumption?…”

Section: Discussionmentioning

confidence: 94%

Money Isn’t Everything, but It Helps If It Doesn’t Look Used: How the Physical Appearance of Money Influences Spending

Muro¹,

Noseworthy²

2012

Journal of Consumer Research

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Despite evidence that currency denomination can influence spending, researchers have yet to examine whether the physical appearance of money can do the same. This is important because smaller denomination bills tend to suffer greater wear than larger denomination bills. Using real money in the context of real purchases, this article demonstrates that the physical appearance of money can override the influence of denomination. The reason being, people want to rid themselves of worn bills because they are disgusted by the contamination from others, whereas people put a premium on crisp currency because they take pride in owning bills that can be spent around others. This suggests that the physical appearance of money matters more than traditionally thought, and like most things in life, it too is inextricably linked to the social context. The results suggest that money may be less fungible than people think.

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Section: Discussionmentioning

confidence: 94%

Money Isn’t Everything, but It Helps If It Doesn’t Look Used: How the Physical Appearance of Money Influences Spending

Muro¹,

Noseworthy²

2012

Journal of Consumer Research

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“…Larger coins have more value than smaller coins, especially by young children (Bruce et al, 1983;Kirkland and Flanagan, 1979), suggesting that monetary forms that are more colorful and less serious may be more likely to be spent. 2.…”

Section: Effort-accuracy Biasesmentioning

confidence: 97%

An information processing review of the subjective value of money and prices

Raghubir

2006

Journal of Business Research

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“…Looking at the perception of money the other way round one can find that the perceived value of a currency is influenced by the size of the coins(Boustead, Cottee, Farquhar, Jonas, Walter, & Webley, 1992) as well as their thickness, colour and elaboration of their edges(Bruce, Gilmore, Mason, & Mayhew, 1983). 150 Eva Jonas et alCopyright # 2002 John Wiley & Sons, Ltd. Eur. J. Soc.…”

mentioning

confidence: 99%