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In recent years, less than 1percentt of all coupons issued by marketers have been redeemed by consumers.
Those who tilled the earth were locked in place by a nationwide system of household registration, and food coupons issued to city dwellers supplanted the market.
The enormous disparity between the number of coupons issued and those redeemed, Mr. Hammonds said, makes it financially unfeasible to create databases listing valid coupons.
(Coupons Inc., a San Francisco-based company that provides technology for issuing online coupons, is developing a scanner for verifying coupons. But even if the system is successful, it will only work with home-printed coupons issued with its proprietary technology).
The company blamed, in part, an aggressive programme of discount coupons issued by its rivals.
They delivered 82% of the 240 billion coupons issued in 2001, according to NCH Marketing Services, the world's largest coupon-clearing house.
Similar(48)
But every money-back coupon issued sends a message that the biggest supermarket in the land is not setting the pace on prices.
Last Sept. 5, the 10-year Treasury yielded 6.92%, and a 30-year mortgage passthrough with a 7.5% coupon issued by Fannie Mae yielded 1.02 percentage points more.
No coupons are issued, and nobody's out a cent.
ICO "coins" are essentially digital coupons, tokens issued on an indelible distributed ledger, or blockchain, of the kind that underpins bitcoin, a crypto-currency.
This fall, the fund bought a zero-coupon bond issued by Nextel Communications and due in October 2007.
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