| Author |
 Replies: 37 / Views: 4,371 |
Page 3 of 3
|
|
|
|
Pillar of the Community
United States
784 Posts |
Im 100% with throwing way the dollar bill and using the dollar coin.
Really who keeps one dollar bills in there wallet! (other then when you get change!)
|
|
Bedrock of the Community
United States
17884 Posts |
Quote:
What is a bigger waste of money.... Buying a Tool that costs $1 and never to use it? Or one that costs $2 and you use it all the time? What is the bigger waste of money buying a tool that costs $1 that you can use again and again, or buying a tool that cost $1 and 12 cents every time you want to use it again. Paper dollar = waste of money |
|
Valued Member
United States
404 Posts |
Don't you think this question on a coin related site is going to have some skewed numbers?
Kinda like asking if they should get rid of the Big Mac on a McDonalds forum isn't it?
|
|
Valued Member
United States
404 Posts |
Oh, and I'm for getting rid of the dollar coins.
|
|
Moderator
 United States
189340 Posts |
Quote:
Don't you think this question on a coin related site is going to have some skewed numbers? Maybe, but I have had this discussion (off-line) with more than one "non-coin" person. Most (but admittedly, not all) agree with both ending the cent and the one dollar note. Of course, I often have to first explain what the issue is. Before that they would have polled as "undecided" as they had no idea there was even a concern.  |
|
Pillar of the Community
United States
2651 Posts |
This forum is actually the first place I have ever heard people wanting the Dollar coin. This is a coin site though so I get it. However...since they are canceling the Dollar Coin program I guess the people have spoken.
|
|
Pillar of the Community
527 Posts |
If the dollar bill were discontinued, do you think they would become a numismatic collectors item worth more than $1?
|
|
Bedrock of the Community
Australia
21788 Posts |
jbuck: You are right, but a Forum such as this has considered and interested opinions in it, and is well worth the time spent by the Mint in reading threads such as this one.
Perhaps when this thread has ended, a copy of it could be sent to the Mint.
|
|
Pillar of the Community
United States
651 Posts |
"Ditching" the $1 FRN could save the US much, much more in the long run than halting or reducing the minting of a dollar coin. The dollar coin should continue but with a condition. The condition is that the numerous designs in the $1 and on the multiple designs as being documented in the ATB as they are seldom seen in circulation must stop. AND please, the designs should not look like clip art. Introduce a $2 coin and also halt the $2 FRN. A cut back on printing can become a "profitble" event for the US as it can force those who disdain carrying change and force more minting. It can also force people to save. By having people saving some of their cash, it can create future opportunities for vendors selling "big ticket" items, or even some minor retirement savings. The cent should have it's composition changed and let the government take it back in exchange for the newer replacement, (with exceptions of course)and let the profits from the reclamation go to paying off the debt.(yall will be hating me for this idea, I'm sorry, I just love my country and don't want it to be forclosed by the Chinese, I don't speak Chinese, yet). |
|
Pillar of the Community
United States
1903 Posts |
Here is the whole picture how I see it. The reason the government is hoarding the Presidential dollars is that they are getting ready for the paper bill to be pulled from circulation. You will need a lot of coins at the ready when that day comes. Secondly, why not just reverse the current situation and make collector editions of paper notes for collectors. Just think of the fun the mint could have with the bigger "canvas" of a note as opposed to a coin. |
|
Pillar of the Community
United States
1796 Posts |
@unholyroller You assume our current politicians are that smart...
...
:-)
|
|
Pillar of the Community
United States
858 Posts |
The gov't isn't hoarding the dollar coins - most of the banks and armored car service inventories are overflowing with them and ship them back to the FED. There is simply no public demand for the coin except for when each new Presidential dollar is released. When the Mint was offering the free shipping deal on the dollar coins people were ordering as many as they could afford to rack up reward points on their credit cards and then simply returning the coins the bank and putting the money back on the card. In fact, in one particular case, I read that one customer accumulated over 800,000 points just by doing this. At 1% cash back rewards points, that's $8,000! One of the branches of a bank I frequent often, told me they were getting $6,000 worth of the dollar coins in weekly. In turn, since no customers requested them, these were consistently shipped out. Across the country banks were complaining about fees adding up for shipping out coins and the amount of space being used up in coin vaults. All in all, I feel the dollar note has served its purpose but there is a much better substitute: the $1 coin.  |
|
Bedrock of the Community
United States
17884 Posts |
Quote:The reason the government is hoarding the Presidential dollars is that they are getting ready for the paper bill to be pulled from circulation. If that was the case, why are they stopping the coin and keeping the note? Wouldn't they either be stopping the note, or continuing to build the stockpile for the future switch. |
|
Pillar of the Community
United States
651 Posts |
I did like the idea mentioned earlier that we should send these comments to Washington.
|
|
Moderator
United States
189340 Posts |
Quote:Here is the whole picture how I see it. The reason the government is hoarding the Presidential dollars is that they are getting ready for the paper bill to be pulled from circulation. You will need a lot of coins at the ready when that day comes. Quote:
If that was the case, why are they stopping the coin and keeping the note? Wouldn't they either be stopping the note, or continuing to build the stockpile for the future switch. This is a case of the right hand not knowing what the left is doing. Restated: our federal government has poor communication skills.  |
|
Page 3 of 3
|
Replies: 37 / Views: 4,371 |
Page 3 of 3
|
First Page
Previous Page
Posted 12/16/2011 2:39 pm
