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Loonie Toonie Question - Please Help!

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Pillar of the Community
Canada
3692 Posts
 Posted 02/26/2012  9:21 pm  Show Profile   Bookmark this reply Add Libertad to your friends list
MrCanada: Don't you think that they should've gone with presidential quarter-dollars instead of dollars?
Pillar of the Community
United States
1358 Posts
 Posted 02/26/2012  10:00 pm  Show Profile   Bookmark this reply Add coinsearcher83 to your friends list
No, no, no....
Sick of dead presidents...lol
Bedrock of the Community
United States
10047 Posts
 Posted 02/26/2012  10:09 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list
I appreciate everyone's comments. This thread was in relationship to a lot of discussion which goes on in the US forums concerning the dollar coin. There are a lot of US collectors who love the coin and are saying we need to get rid of the $1.00 bill. Since most of them have no actual experience being someplace they have no option, they have been of the opinion that since the rest of the world has done it - its a good thing to do.

Since I spent a lot of time in Canada, and was there when the Loonie was introduced, I experienced the things you have posted here. But a lot of US people -- with no actual experience -- have some pretty strong opinions that coins don't accumulate; there is no weight issue; and that when the dollar becomes pocket change, then prices do not raise to the point the dollar buys very little.

Their main argument has been that the coin is more cost effective (which it probably is). And some also are saying the problems (as those cited) do not actually take place, and it is just a lack of education mixed with opposition to change that has made the majority of US people reject them. Some of them have gone as far to do some mathematics in hypothetical situations to "show" you never have more than a couple on your person at a time so the weight issue does not exist.

I found some of the US people were so attached to the coin idea that even when I suggested the US make polymer bills instead of coins (so the majority could be happy), some still stuck to the coin idea saying the government should just make us accept the coins by getting rid of the $1.00 bill!

Others in the discussions suggested we just ask our Northern Neighbors to see if the issues (cited) were a reality. So this is why I asked all of you for help. Experience is always the best teacher.

BTW - my personal take on all of this is exactly what has been said here in this thread. Although I do think that saving the money would be good - I do think the polymer notes (if cost effective) would be the way to go so we do not get a black eye (as someone here posted with an emoticon)!

Loonie-Toonie-Question---Please-Help!

edited for syntax
How much squash could a Sasquatch squash if a Sasquatch would squash squash?
Download and read: Grading the graders
Costly TPG ineptitude and No FG Kennedy halves
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Edited by Earle42
02/26/2012 10:41 pm
Pillar of the Community
Canada
1700 Posts
 Posted 02/27/2012  12:22 pm  Show Profile   Bookmark this reply Add Petersun to your friends list

Quote:
No, no, no.... Sick of dead presidents...lol

Well, good point. I believe that several months ago, the USPS was voting for a president that's alive to be on their stamps. For coins, the Presidential dollars are going be there for a long time. US Mint has a long releasing schedule.
Bedrock of the Community
United States
10047 Posts
 Posted 02/27/2012  5:18 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list
Personally I would like to see Reagan on something b/c of what he accomplished for the US. Other than this I would just like to see a return to classic designs. The years from 1916 to 1930 must have been amazing when everything was Buffalo, Mercury, SL quarters, and WL halves.

I also like the older Canadian coins with the classic looking shields and wreaths they used to have. Some of the newer "gimmicks" of using glass ladybugs on collectors additions and similar things on circulating coinage are just not the same. Although some are nice in their own ways. but I also could not help but notice how quickly the 1911-2011 silver coin set sold out. Maybe the classic design has something to do with it?

How much squash could a Sasquatch squash if a Sasquatch would squash squash?
Download and read: Grading the graders
Costly TPG ineptitude and No FG Kennedy halves
https://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2
Pillar of the Community
United States
4132 Posts
 Posted 02/27/2012  10:34 pm  Show Profile   Bookmark this reply Add CaptainFwiffo to your friends list
I think Sap's point with the Australian coins is interesting. Design (both physical and aesthic) is really important. I think we've learned that in the US. The Eisenhower dollar was rejected, amonog other reasons, because it's huge and never worked in vending machines. The Susan B. Anthony "Agony" dollar was rejected because it looked and felt exactly like a quarter and was only slightly larger.

I also think it's interesting that the coins created the perception that things cost more, but that it was only a perception. The $20 disappears quickly, but mostly it's going into your change jar, where a large chunk of it gets saved for vacations or whatever.

It also seems to back up the point of the pro-coin side, that any sort of drama surrounding the switch-over is pretty short lived, and there isn't some sort of overwhelming groundswell to switch back.

My main argument (aside from the cost/durability factor, and the public health factor) is that a dollar is just too small a quantity to justify having a bill, and that it's a value more associated with things that you purchase with coins - vending machine snacks/drinks, bus fare, arcade games, laundry machines, etc. and that bills aren't great for those purposes and now the quarter is getting too small for those things. Arcade games are like a buck a play. Vending items are like a buck-fifty or two bucks. You either need 6-10 quarters for these, or you need to fight for hours with dollar bill acceptors.

Also, any argument that would be made against the dollar coin - they weigh too much, they accumulate, etc. - could also be made against quarters, and nobody would ever even think of replacing quarters with a quarter dollar bill.
Pillar of the Community
United States
1796 Posts
 Posted 02/28/2012  12:42 am  Show Profile   Bookmark this reply Add SteveCaruso to your friends list
I agree with the cap'n 100% on the issues of how much a dollar is worth today which I believe is why it is so important that we spend less money to represent them. Paper dollars just crumble in circulation today as they pass back and forth so quickly due to the sorry fact that they represent such a small value. The dollar coin will fix that. Where a dollar bill lasts 18 months in circulation (according to the Treasury) before it's shredded beyond use, dollar coins last 30+ years.

In truth, I'm personally not convinced by the "weighdown" arguments in any direction. Eisenhower dollars were the last dollar coin to weigh the same as 4 quarters. The golden dollars weigh much less, but you'll still find people with tons of quarters in their pockets. I've used $1 coins exclusively for the past 3 years (trading any singles as I got them), and my pockets don't drag. However, I do have a proper coin wallet which may be a factor. They're cheap and effective and don't jingle when you walk.

I also believe strongly that the opinion of dollar coins in the US was very seriously marred by Suzies (which were the biggest mistake ever made with modern US coinage). Even today, if I happen to have some on me and I give them to a teenager working a cash register, it's a 50/50 chance they'll count them out and respond that I gave them 1/4 of what I should have. From there I have to politely say, "Take a closer look at them. That's not George Washington..." and then it's a 50/50 chance they even know who Susan B. Anthony is. However, give the same teen a Sacagawea or a Presidential dollar and no problem. :-)

Suzies were such an utter failure...
Bedrock of the Community
United States
10047 Posts
 Posted 02/28/2012  1:49 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list

Quote:
Also, any argument that would be made against the dollar coin - they weigh too much, they accumulate, etc. - could also be made against quarters, and nobody would ever even think of replacing quarters with a quarter dollar bill.

emphasis added

I may be wrong, but I think this is missing the main point. Canadians (for a long time) already had the quarters. The idea here was that since dollar coins were replacing bills, it would cause additional (too much) weight since they already had quarters etc.

And, obviously, the issue does not readily correct itself as the Toonie broadcast was made almost 1 decade after the Loonies were in circulation. The Canadians, and news broadcasting system, obviously still had an issue with it. I am not sure how much clearer it can be. These are real issues that have had to be dealt with by a real country that already went through through the switch. These broadcasts show exactly what they think/experience even 9 years later.

Now if quarters had always been bills and the only pocket change had been penny, nickel, and dime, the weight issue very well may have come up with making quarter coins. Maybe this was what you were referring to?

The fact of the matter is that the weight issue is not just hype as witnessed by this documentation. If the coins will be forced upon us in the US, we will experience the same thing the Canadians did/do. Too many coins, too much pocket weight, and devaluation (even moreso - as seen in your point!).


Quote:
My main argument (aside from the cost/durability factor, and the public health factor) is that a dollar is just too small a quantity to justify having a bill, and that it's a value more associated with things that you purchase with coins -


There are most certainly places where the dollar is already devalued. This is one of the issues the people on the Canadian broadcasts have with Loonies. Since the coins buy nothing, they accumulate. Larger denominations are, logically, spent and you (are stuck with) smaller denominations (Loonies) in your pocket. This is the weight issue all over again.

Aside from the health issue (which has been with us as for as long as dollar bills have been printed), this is why I wonder if polymer notes might be the answer to the saving money aspect of the problem? I do not know how much money it might save (have to look to other countries using them I guess).


Quote:
The Susan B. Anthony "Agony" dollar was rejected because it looked and felt exactly like a quarter and was only slightly larger.


Boy do I ever remember vending machine people hating these things! My dad worked at Pepsi. The store owners etc. who bought from Pepsi to restock their machines were always so angry b/c their sales were down b/c the Suzy's would jam their machines so often.

We will never know for sure, but I think had the Susan B been logically designed, it still would have been rejected - again, for the testified/eye-witness weight issue etc. reasons again. Just going by a scenario where it already happened and also thinking of how the US people never wanted their own $2.00 notes either. For some reason the set system we have is one that the majority (right or wrong) wants. Canada was always receptive to $2.00 bills. And yet, even being more receptive, they were the ones with issues on the Loonie and Toonie.

Its obvious why the Ikes never made it. Same issues on a worse scale.


Quote:
Even today, if I happen to have some on me and I give them to a teenager working a cash register, it's a 50/50 chance they'll count them out and respond that I gave them 1/4 of what I should have. From there I have to politely say, "Take a closer look at them. That's not George Washington..."


I was told that the Baltimore subway system now uses Suzy's as their tokens. I do not know if this is fact, but at least, if true, they are not just heaped in a storage facility somewhere.

Like everything else in life, I think this coin issue is a problem for which no good answer will be brought about. I think an answer could be found, but the problem is that politics will get (is getting) in the way but those who make such decisions.

I personally think the solution would just be to lower the "looks" of prices by giving more value to our money. Use new items of currency/change where a "new" is "worth" so many of the old. Let the old run out by use and the new, by default, takes over. Viola!

... but there would still be complaints!


How much squash could a Sasquatch squash if a Sasquatch would squash squash?
Download and read: Grading the graders
Costly TPG ineptitude and No FG Kennedy halves
https://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2
Pillar of the Community
United States
2295 Posts
 Posted 02/28/2012  2:02 pm  Show Profile   Bookmark this reply Add wquinn to your friends list
And there is another point too.

One thing I haven't heard of about the weight argument, is that way back in the 1800s and early 1900s, when we had paper money, people also used gold coins. Did people complain about using the coins as opposed to the notes?

I know. Who would complain about a gold coin in their pocket? But isn't it the same difference when concerned about weight? And I know that you could get a lot more with $10 back then than today, but still, as a principle, for arguments sake.

Weights:
Current dollar coin = 8.1 grams

Gold $1 = 1.672 grams
Gold $2.5 = 4.18 grams
Gold $5 = 8.359 grams
Gold $10 = 17.5 grams
Gold $20 = 33.436 grams
Pillar of the Community
Canada
1005 Posts
 Posted 02/28/2012  8:40 pm  Show Profile   Bookmark this reply Add Bm0ney to your friends list
I have trouble loosing one and two dollar coins out of pocket into couches, cars and wherever. I do not remember ever loosing a bill out of my wallet into a couch crevice.
Pillar of the Community
Canada
3692 Posts
 Posted 02/28/2012  9:01 pm  Show Profile   Bookmark this reply Add Libertad to your friends list
@wquinn: Your point is kind of moot since a gold dollar back then could buy much more than many quarters could buy today. You'd be pretty rich and full of business if you were trading gold coins all day everyday.
Valued Member
Canada
227 Posts
 Posted 02/28/2012  10:45 pm  Show Profile   Bookmark this reply Add Barrie to your friends list
As a coin collector I prefer the loonies and twonies... but started collecting 2-dollar bills when I knew they were on the way out and amassed some assets.
Rest in Peace
United States
9104 Posts
 Posted 03/08/2012  03:01 am  Show Profile   Bookmark this reply Add biggfredd to your friends list

Quote:
The golden dollars weigh much less, but you'll still find people with tons of quarters in their pockets


3 brass bucks weigh just slightly more than 4 clad quarters.
Rest in Peace
United States
9104 Posts
 Posted 03/08/2012  03:12 am  Show Profile   Bookmark this reply Add biggfredd to your friends list

Quote:
it's a 50/50 chance they even know who Susan B. Anthony is. However, give the same teen a Sacagawea dollar and no problem. :-)


Yep. That's Mary and the baby Jesus.
Rest in Peace
United States
9104 Posts
 Posted 03/08/2012  03:18 am  Show Profile   Bookmark this reply Add biggfredd to your friends list

Quote:
The store owners etc. who bought from Pepsi to restock their machines were always so angry b/c their sales were down b/c the Suzy's would jam their machines so often.

Around here, if a soda machine is out of order or product, 90% of the time, it's Pepsi. Hardly the coin's fault they have junk equipment. There's no more reason a brass buck should jam a machine than a quarter would.
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