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 Replies: 23 / Views: 4,474 |
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Pillar of the Community
United States
4409 Posts |
Nothing will change as Crane & Co. have a monopoly on supplying the government with banknote paper. They also have all the knowledge/techniques of how to incorporate anti-counterfeiting into the paper.
The government won't risk making them mad by changing the currency lineup...is there even another American company that knows how to make currency paper?
-MV
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Moderator
 United States
190135 Posts |
Eliminating the one dollar note will not eliminate C&C, just 60% of their business. However, a large part (but not all) if it will come back in increased demand for the two dollar note.
Point is, C&C is not going to burn the house down just because someone crashed into their garage. They will suck it up and be thankful they still have work to do. They may not like it, which is why they are fighting it, but they will accept it.
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Pillar of the Community
 708 Posts |
Quote:
Good riddance, filthy rag. Here, here! I agree. Quote:
Eliminating the one dollar note will not eliminate C&C, just 60% of their business. However, a large part (but not all) if it will come back in increased demand for the two dollar note. This is true. And don't be suprised if they don't add a few more security features to the redesigned $2 bill, coming out some time after the tear 2020, when the next round of currency redesigns come around, which would probably add more jobs to Crane & Co. for those who have to put those new features, as well as the new features for the visually impaited and the blind for the Meaningful Access redesign. Quote:
Point is, C&C is not going to burn the house down just because someone crashed into their garage. They will suck it up and be thankful they still have work to do. They may not like it, which is why they are fighting it, but they will accept it. This is the same thing that the vending industry told me about if the $1 bill is ever redesigned, instead of eliminated. "Most vendors will suck it up, and reprogram for a new $1 bill, but many machines might just move to using cards and other electronic methods of pay, however, they continue to fight the $1 bill's redesign" Quote:
Edited by Fox
05/09/2014 12:09 am
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Pillar of the Community
United States
1001 Posts |
I agree that the $1 SHOULD be retired in favor of coins, as should the $2 bill. The other bills should be converted to a polymer composition.
I also suspect that the Crane company will resist and probably win out to keep the paper for many more years.
As noted above, this comes up every couple of years and then seems to fade away. I don't see it happening before the whole cash situation is a moot point, coins and bills will go the way of the DVD. People will make small purchases with smart phones or stored value cards and cash will no longer be needed.
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Pillar of the Community
1325 Posts |
he smartest thing to do would be discontinue the $1 bill and force the usage of the billions of $1 coins sitting around. This will save money on printing, replacing, etc the dolalr bills and get use out of those coins that will last MUCH longer. I mean one company makes the cloth for the $1 bill as it hasn't changed design in years and they need to be kept in business? No there are other bills and we have enough $1 coins to last for a long time.
Time for POS manufacturers to jsut buck up (pun intended) and start making room for the $1 coins as well as the half dollar, and vendors to start taking $1 coins.
get rid of the cent? no, get rid of the $1 bill and save money making more as we have plenty to go around as the $1 bill wears out or gets hoarded for collections by those that still use cash. not plastic.
How much does it cost to replace a dollar bill? has to be more than to make another $1 coin since the Mint said in 2011 that it coated about 19 cents to make each coin, and bills must be made by the sheet, while coin blanks can sit around and are made into coins one at a time as needed.
DEATH TO PAPER GEORGE!
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Pillar of the Community
United States
1745 Posts |
I have had the opportunity to use dollar coins for a number of years, as our vending machines at work used them and the change machine gave them out as change. So, I would see lots of dollar coins around town that probably originated from my work. All good things come to an end. They have installed a mini market and replaced the vending machines. All transactions are completed at a kiosk which uses an account or credit card. The account can be accessed with your thumbprint and money added to your account with paper money. So, no more dollar coins.....  |
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Moderator
United States
190135 Posts |
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Time for POS manufacturers to jsut buck up (pun intended) and start making room for the $1 coins as well as the half dollar, and vendors to start taking $1 coins. No need. Just nix the cent and nickel... two slots instantly appear.  Quote:
So, no more dollar coins..... I know your pain. The post office was my source for baby dollars. Then, seemingly overnight, everything shifted to electronic payment. No more buying a book of stamps with a twenty and receiving a handful of dollar coins to search. I suppose it was for the best. Towards the end, most of those coins had already turned.  |
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Bedrock of the Community
 United States
12867 Posts |
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I know your pain. The post office was my source for baby dollars. Then, seemingly overnight, everything shifted to electronic payment. No more buying a book of stamps with a twenty and receiving a handful of dollar coins to search. I remember that as well. plastic and e-payments are probably slowing the progress of the dollar coin. |
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Pillar of the Community
United States
1750 Posts |
I hope we keep the $2 bill. I would love to see a time...even if short...where the $2 bill circulates widely. The paper they use for ones could simply be fed into the $2 presses and that would throw a bone to Crane.
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Moderator
United States
190135 Posts |
 Give TJ some love, since we need to get rid of nickels, too.  |
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Pillar of the Community
United States
1750 Posts |
...or we could go to nickel plated steel like Canada for the five cents and put a nicer design on it. Maybe bring back the buffalo.  Edited by DoubleEagle20
05/21/2014 10:03 pm
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Bedrock of the Community
United States
12867 Posts |
Ones begone. Twos live on!
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Pillar of the Community
United States
1750 Posts |
One cent coins and dollar bills are getting annoying now with inflation, IMO. The cent is utterly useless and the ones feel like you are paying with fractional currency notes.
I am beginning to see the wisdom of a revamp where there is a dime, a smaller half dollar, a one dollar coin and eventually a two dollar coin. Under this kind of system we would round to the nearest 10 cents. Makes sense because the dollar's purchasing power is only about 1/10th of what it was in 1940.
Edited by DoubleEagle20
05/22/2014 9:54 pm
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Pillar of the Community
708 Posts |
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I am beginning to see the wisdom of a revamp where there is a dime, a smaller half dollar, a one dollar coin and eventually a two dollar coin. Under this kind of system we would round to the nearest 10 cents. As I have said, either get rid of the cent, nickel and quarter, and bring back the fifth/20 cent coin and reduce the size of the half, and add $1 and $2 coins. OR: Eliminate the cent, nickel and dime, and put a law into effect that all merchandise be priced by the quarter (Like $1.25 for a candy bar, $2.50 for a dozen of eggs, $19.75 for a case of beer, or $10.00 for a package of meat, and round the sales tax ONLY on the final total to the nearest quarter, as everything else would already BE priced to the nearest quarter. That way, we could have a quarter, half, $1, $2, and $5 coin. And like I said, while we're at it, bring back the $500, and $1,000 bills and add a $200 bill, and maybe even bring back the $5,000 and $10,000 bills and add a $2,000 bill, and to heck with the drug dealers, money launderers and counterfeiters. Just put some kind of features on the $10-$10,000 bills that make them traceable by government computer systems, like a chip or bar-code or something. |
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Pillar of the Community
United States
1001 Posts |
You will never see larger bills circulate, not only to help thwart drug dealers but also due to the lack of need.
Major changes in coinage will be minimal in the near future, perhaps the cent will be eliminated eventually. Any other major changes will not occur since the end of coins and currency is nearer than you think. Stored Value Cards, debit cards and smart phone payment will be used for small purchases in place of cash before any major alterations to coins and currency will occur. The next big change to coins and currency will be the lack of need then the lack of production.
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Replies: 23 / Views: 4,474 |
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Posted 05/08/2014 4:09 pm
