Dollar Coins

Discussion in 'Politics' started by Paul3144, Aug 18, 2010.

  1. Paul3144

    Paul3144
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    I think the government should get rid of dollar notes and just have dollar coins because they last longer, look nicer, and are more convenient. For example, if I'm making a purchase for $2.24 it's easier to just reach in my right front pocket and pull out 2 dollars and a quarter dollar and get back a cent in change than pulling out my wallet and dealing with paper money. Furthermore, the coins are more durable than dollar notes. Who wants to deal with wrinkled up paper when you can use shiny metal objects? Another advantage of coins is that if the dollar goes into a hyper-inflationary death spiral, the value of the coins will never fall below the value of the metal used to create them.

    I've made the switch to dollar coins a while back. What I do is I get rolls of them at the bank and spend them like I would dollar notes. If a cashier tries to give me dollar notes as change, I ask him if he has any dollar coins. That works in avoiding dollar notes about half the time. If I have no other choice, I keep any dollar notes I get at home until I go to the credit union, at which point I deposit them.
     
  2. exscentric

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    Where do you find something for 2.24 to buy :smilewinkgrin:

    Probably ought to get rid of the ones and stick to 5 buck coins.

    I've gone through rolls of buck coins and have yet gotten one back in change. I suspect they ship them back to the bank and put back in the vault till some weirdo like me wants to buy some more of the.:tongue3:
     
  3. Paul3144

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    That's probably what they do.
     
  4. SolaSaint

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    When you go out to dinner and spend $50, do you carry enough coins to pay for it? If so isn't it kinda heavy?
     
  5. Paul3144

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    If I did that I'd use bills. I only carry 4 or 5 dollar coins with me.
     
  6. preachinjesus

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    One of the main reasons that the $1 coin hasn't taken off is, quite simply, market economics. Many cash registers in the US are designed to take 1s, 5s, 10s, and 20s, plus the designated penny, nickel, dime, quarter slots.

    It seems funny that the $1 coin hasn't caught on, the €1 in coin is common in Europe. Maybe its because Americans, whether we like to admit it or not, are just averse to change...pun intended...;)
     
  7. glfredrick

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    We've also (seemingly) made it a requirement that the dollar coin be the largest and heaviest of all, making it difficult to carry and use.

    Make it fancier and smaller and it would gain a lot of use.

    I also advocate elimination of the penny. It is now basically worthless as a coin and often costs more to produce than it is worth, even in zinc form.
     
  8. Paul3144

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    Most cash registers have five coin shots. The fifth one is actually a half dollar slot, but they usually put dollars and half dollars in there when they have them. My younger brother is a cashier and that's what he does.

    That's not true. The half dollar is larger and heavier than the dollar.

    The five-cent coin has been composed of 75% copper and 25% nickel since 1866. It's current metal value is about 6.5¢.
     
  9. NaasPreacher (C4K)

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    The smallest euro note is the €5. We have one two euro coins. Before the switch the smallest note was £5.

    I like the coinage option for 1 (and 2) euro (or dollar) denominations. They are convenient and long lasting. Whenever I travel back to the states now I find the $1 note bothersome and cumbersome. They just get in the way in my wallet.

    There is only one solution though - they need to mint only dollar coins and not print dollar notes.
     
  10. Salty

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    When I was in Europe back in the mid 80's the Army tried to stop using the penny and dollar bill. In the PX, they would ony give the $1 coin as change. I inisted on some $1 bills as I would tuck them into my wallet as emergancy money. The penny wasant a big deal as they just rounded off to the nickle; execpt for the APO, beacuse they had to balance to the penny.
    In the long run they just gave up....

    besides that would not help the cause of WHERESGEROGE.COM
     
  11. Eric B

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    I too prefer a dollar coin, adnd wondered why they are having trouble catching on.

    That bill tracker site is cool (and would still have the other bills besides the $1).
     
  12. rbell

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    purely personal anecdote here, but I bet it's true for others:

    When I go overseas, I find my spending habits change.

    In the US, I'm more likely to "let go" of change. After all, it's just change. You can't comfortably have more than a few dollars in your pockets before it gets too heavy (women, your purses don't count here!).

    However, in other countries--a "pocketful of change" is a lot more money. But since my habits are to not hold on tightly to change, I spend more.

    I bet that in the short term...if Americans were suddenly put into this situation (I know it won't happen this way, but if $1 paper went away tomorrow, and we maybe mimicked Canada, let's say, and had $1 and $2 "loonies" and "toonies"--I bet Americans in the short term would spend a lot more money.
     
  13. sag38

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    When you go out to dinner and spend $50, do you carry enough coins to pay for it? If so isn't it kinda heavy?

    At the same time, who carries fifty $1 bills in their pocket?
     
  14. glfredrick

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    I stand corrected. Of course, you are right. I've run across the dollar coin so infrequently that I was actually thinking of the old silver dollars when I postd that! :confused:
     
  15. rbell

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    One other thing: Americans have long memories. And the US Mint has struck out, more than once, with regards to $1 coins:

    1935: Discontinued "Peace dollar" and didn't replace it. Unpopular decision (even though economically it made sense). Folks didn't spend the $1 coins much--but they were terribly popular as saving items, gifts, and keepsakes.

    1970's--the Eisenhower dollar was horribly unpopular. Some praise was undeserved: "Silver dollar" was a part of the national vernacular--and of course, these were the copper/nickel clad coins (as per the law)--but that part was unpopular. The coins weren't considered that pretty--especially the bicentennial one. Also, they weighed about two pounds less than Grand Piano.

    1979-1981--Susan B. Anthony coin. A mess on several fronts:

    Size: The SBA dollar was quarter-sized.
    Shape: Also, octagonal?? (was this to distinguish from the quarter? If so, epic faill!).
    Timetable: They didn't give it long enough "buy-in' time to see if folks would adapt.

    THe newest dollar coin shows promise--If they'll give it enough time and chance for the public for the public to adapt. Doing the gold thing was a good plan.
     
  16. preachinjesus

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    I was thinking about this earlier today and it is remarkable that when I travel overseas I am constantly aware of and make sure I have physical money on me at all times.

    Yet when I am home or in the US (with some exceptions) by and large I don't carry any cash on me. In fact since January I can count on my hand the number of times that I have gone to an ATM to withdraw cash for carrying. I just use our cards and it is more convenient.

    In another 15 years I wonder if we'll be having the conversation about the elimination of physical currency...
     
  17. glfredrick

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    And also probably the discussion of Revelation as to whether we can purchase... :BangHead:

    But, that is a discussion for another thread, I'm sure! :flower:
     
  18. billwald

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    Agree that dollar bills should be eliminated because of their replacement cost to the treasury.

    I think ALL paper money should be eliminated. Issue large coins up to $10 denomination. One advantage would be that a person could not carry enough cash to bribe any self-respecting politician.
     
  19. glfredrick

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    [​IMG]

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    Paper money has, from time-to-time, been worth more as paper than as money. I like "stuff" instead. :smilewinkgrin:
     
  20. menageriekeeper

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    :laugh: Neither do I!

    My daughter calls me from the University yesterday. "I gotta have money for a packet of reading material."

    I asked, "why are you calling me, call your dad. He's right down the street. Tell him to give you the credit card."

    She says, "I gotta have cash." :eek:

    REALLY???

    Evidently, the department she is in, makes these packets up themselves and they aren't set up to take cards OR put it on their campus cards (sort of a debit card), so they have to use cash to off set the cost of printing up the packets.

    They could go to dollar coins and I probably wouldn't notice the difference.
     

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