KEY POINTS:
Cash has been around for more than 2500 years and won't be elbowed into oblivion any time soon.
Figures show the volume of cash in the economy is growing, due mainly to sustained economic growth. Cash still has an irresistible appeal, from the kids who covet their pocket money through to criminals who deal in bundles of it.
And think of organising a "cashie" with a friendly painter without the folding stuff - it just wouldn't be the same.
David Tripe, director of Massey University's centre for banking studies, says cash will eventually disappear but not until its replacement becomes universally accepted. And that timeframe is anyone's guess, he says.
"We will see a gradual rundown in its use - it won't disappear in a hurry."
Tripe says cash is straightforward to deal with and its durability is guaranteed by a number of factors.
"There are people who are not in the groove to other means of payment."
According to a survey by Visa USA, 79 per cent of baby boomers and 74 per cent of echo boomers (children born between 1982 and 1994) believe that our society will one day operate without cash - but they did not seem to know when.
The Reserve Bank of New Zealand paints an upbeat picture for cash, at least in the short term, due mainly to a buoyant economy.
In the year to June, the value of currency in circulation rose by 2.7 per cent to $3.36 billion.
There were 115 million notes and 334 million coins in circulation at the end of June.
The bank said the number of higher-value notes in circulation had increased over the past year.
The number of $50 and $100 notes rose by 9.8 per cent and 3 per cent respectively, while numbers of $20 notes declined slightly. The $20 note still makes up almost 50 per cent of notes on issue.
"Some of the growth may be accounted for by growth in the economy. While we don't survey the use of cash, it seems there is still demand for cash in certain parts of the economy, such as tourism and in the regions."
