So many people overlook the cost of being able to "make change" an arbitrary amount of time with (nearly) arbitrary denominations.
Think about the last time you bought some for $1.27 and paid with a $20 and they took it without blinking.
I live in a developing country where there are still a ton of small mom & pop shops that aren't willing to eat the cost of that externality. So it isn't uncommon to go to one of them and they'll go "sorry, I can't make change for that bill size". Then you suddenly have the hassle of needing to drive to another store or getting change somewhere else or whatever.
In practice you adapt: the ATM only spits out big bills so you make a purchase somewhere to start breaking them up. Go buy a soda at an international chain instead of the local corner store. That kind of thing.
But it is still a cost we all pay, since "making change" isn't free.
Think about the last time you bought some for $1.27 and paid with a $20 and they took it without blinking.
I live in a developing country where there are still a ton of small mom & pop shops that aren't willing to eat the cost of that externality. So it isn't uncommon to go to one of them and they'll go "sorry, I can't make change for that bill size". Then you suddenly have the hassle of needing to drive to another store or getting change somewhere else or whatever.
In practice you adapt: the ATM only spits out big bills so you make a purchase somewhere to start breaking them up. Go buy a soda at an international chain instead of the local corner store. That kind of thing.
But it is still a cost we all pay, since "making change" isn't free.