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 Replies: 24 / Views: 3,268 |
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Moderator
 United States
189340 Posts |
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Pillar of the Community
 United States
999 Posts |
The problem with the quarter is exactly why this proposal has it eliminated in favor of the half dollar. With no 5-cent piece the quarter is harder to deal with.
I agree that this, as well as the many other valid proposals are likely never to be seriously considered due to the lack of desire to change. I could see the cent and paper dollar eliminated in this decade but that is about it.
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Pillar of the Community
Canada
3167 Posts |
Quote:
If people really wanted it changed it would be changed, people just dont care and are happy with what they have now. No, this is where you are mistaken. Some people do wish that this outdated system, made for a technology-less world, could be replaced. It is just the fact that there are some others who do not want to consider a change in the currency system. IMHO, this problem is occurring in many areas. Humans are inventing technology that is changing the way the world works, but we don't bother to re-invent the systems that we already have. A basic example is the education system, but that's a whole different story.  |
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Moderator
United States
189340 Posts |
The reluctance to change our change confounds me. We got rid of the Half Cent and changed our Half Dime into a nickel. We survived. |
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Pillar of the Community
United States
4870 Posts |
Our northern friends in Canada didn't fall off the map when the cent was discontinued. It can be done.
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Pillar of the Community
United States
6130 Posts |
How do people carry their $1-5 coins where they are used? Most Americans carry their paper bills in a wallet, and coins go into a jar at home. If you are going to use cash exclusively, it helps to have a few of every coin denomination in your pocket, but it is not efficient or convenient for most people.
I agree that the penny is pretty much useless, but I don't see the call for discontinuing every denomination that doesn't turn a profit. That profit isn't free money; it's inflation. I don't see why people struggle with that. Before the 1950s, coins were made to be durable as heck, and they circulated for decades until they were worn down to a smooth disc. Why can't we go back to that? Durable coins and low mintage = lower overall production costs and lower inflation.
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Pillar of the Community
Canada
2805 Posts |
Before the 1950s, wasn't the population of the United States much lower than it is now?
I guess we are lucky to not know how annoying a coin shortage is - my Iranian friend says that when you buy things in Tehran, you are usually given a pack of matches or a stick of gum as change. There are similar stories from Italy, once the public realized that the big, nickel-bearing 50 and 100 lire coins could be melted down at a profit. South Sudan is soon going to produce their first coins, and right now there are complaints that it is very difficult to work with improvised change.
And, while the profit from the $1 and $2 coins in Canada may be inflation (mumble mumble fiat mumble Ron Paul mumble bitcoins mumble), I don't think producing unprofitable coins decreases inflation, or has any positive effects.
Furthermore, how can you complain about the weight of $1 and $2 coins, then say that we should keep the penny?
I put my loonies and toonies in my pocket, where the crushing gravity usually makes me walk with a limp. Many Canadians can be seen perambulating on a tilt, constantly pulled down by their change - there are talks of building all urban sidewalks on a grade of about 10 degrees to alleviate this problem.
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Bedrock of the Community
13014 Posts |
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No, this is where you are mistaken. Some people do wish that this outdated system, made for a technology-less world, could be replaced. It is just the fact that there are some others who do not want to consider a change in the currency system. Some people certainly do, but not the majority which is really what I meant and should have been more specific. Really though its something that the majority of the voting base has to really care about. If elections were going to be affected by a position on this you would see bills put out immediately and signed into law shortly after the election next year. Its not a campaign issue though so attention is focused elsewhere and theres no real movement nationally or within typical voter bases for it. If there was actually such a movement youd see it happen. Its not a partisan issue people would draw a line in the sand on, itd be easy votes for them to support it. With healthcare and everything else though it may actually have the opposite effect right now of voters wondering why theyre wasting time on that with bigger issues at stake. It could and probably will happen at some point, but its got a long way to go before it gets close. As long as people are fine with the current system its unlikely well see any change and I really wouldnt be surprised to see it still going 20 years from now barring massive inflation |
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Bedrock of the Community
Australia
21788 Posts |
It is somewhat of a pity that the quarter is so popular.
With a 1,2,5,10,20,50 cents, and a
1,2,5,10,20 and 50 dollar, perhaps followed by
100,200,500,1000,2000,5000 notes into the very distant future,
it is easy to lop off the lower values as needs be, and add higher values as needs be, to deal with the ravages if inflation, without much distress to the currency system.
Each denomination is exactly, or nearly so, double to the denomination below it in value. Such a system has been in use in many countries around the World.
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Pillar of the Community
Canada
726 Posts |
Large purchases (Like a car),usually hav a different pay method - diff from paper notes I mean....In canada even years ago we had no real use for the 1000.oo note.. I think lots of electronic pay nowdays.......Not two many more years and will be 5.oo coin canada----got voted out already couple times in past.......
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Pillar of the Community
United States
999 Posts |
If we see $1000 or larger notes in the USA or Canada again it would most likely be a symptom of a monetary collapse or hyper inflation. By the time our current rates of inflation would make such bills necessary paper money will be no longer an important tool of our economy. Plastic and electronic money is fast taking over and any drastic changes, even the one I proposed, would likely be overtaken by them.
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Pillar of the Community
Canada
2805 Posts |
http://www.indiacoins.org/2012/04/m...s-story.htmlQuote:
There seems to be a hue and cry going around these days. Apparently there are 2 camps in the United States. one wants to abolish the cent and the other wants to keep it. Things have got ugly ever since Canada decided to abolish their cent. The reason was simple the coin cost more than its face value to produce and doesn't have any purchasing power.
I received a couple of calls from my friends in the US who are opposite sides of the debate and they decided at least for them I would be a neutral third party judge. I know how my sandwich feels now. They both had good points. In the end I told them it does not matter. No coin denomination can last forever. In India we have seen almost all our paise series dismantled. The 50 paise coin is on its last legs. When the times comes we will bid goodbye to the 50 paise coin with dignity and without debate. Too much discussion is not always a good thing.
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Pillar of the Community
United States
1109 Posts |
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Our northern friends in Canada didn't fall off the map when the cent was discontinued. It can be done. Idunno...I'm looking at a map and I don't see Canada! Oh Canada! This is bad! Wait...it's a map of the United States...false alarm, very sorry everyone. |
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Pillar of the Community
Canada
3167 Posts |
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Valued Member
United States
51 Posts |
Without going on a tare here I love the idea. I love coinage. Sadly most Americans prefer paper to metal. Getting them to take the "gold $1" is like pulling teeth.
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Replies: 24 / Views: 3,268 |
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Posted 11/07/2013 9:34 pm
