| Author |
 Replies: 40 / Views: 8,966 |
Page 3 of 3
|
|
|
|
Moderator
 United States
188770 Posts |
Quote:
Yes, WE realize it but the powers that be do not You are correct. An official proposal would need to be very specific! |
|
Pillar of the Community
United States
927 Posts |
I love all 3 denominations and regularly ask for them at the bank. I spend them everywhere that I can. I mostly do it because I love circulating the "odd money". I doubt that any of these will ever be used by the general population to any large degree, but that doesn't stop me. In fact, it spurs me on even more. I know that I have piqued more than one person's interest in these just because they never see them. I love it.
I also feel that despite what many people say that credit cards and electronic payments will take over, I don't believe it. Cash will ALWAYS be around. Perhaps not as common as it is now or in the past, but it will live on. Cash makes people feel secure, because they have something.
|
|
Moderator
United States
188770 Posts |
Quote:
3 circulate the dollar coin (eliminate the dollar bill) cladking updated the item.  |
|
Pillar of the Community
United States
613 Posts |
Cash will certainly always be around. The gray economy and the black market demand it.
|
|
Valued Member
United States
70 Posts |
You're asking why we still have half dollars which aren't circulated, and why do we have $1 coins and $1 bills when clearly only one of the two would suffice?
That's like asking Congress to agree on something - oh wait, it is!
Just sayin! :)
|
|
Pillar of the Community
United States
589 Posts |
Eliminate this, change the composition of this to a cheaper metal, etc, etc. That's all I seem to hear.
Solution: Redenominate. Put gold and silver back into our money and eliminate fiat. Let the precious metals control inflation since it's clear that the government cannot.
As to the dollar coin vs bill bit, think back, we had: silver dollars and gold dollars, patterns for a half-and-half dollar coin (wouldn't that have been something had it gone through?), one dollar Nationals (ended in 1878), one dollar Federal Reserve Banknotes, one dollar Treasury Notes, and one dollar United States Notes. Now all we have is one coin and one banknote, and only the banknote is used. I think that stems from the fact there's no incentive to have the coin since fiat is fiat, whereas "paper" was paper and "silver" or "gold" was silver or gold, even though the notes were convertible, paper could still be damaged in water or a fire, whereas metal survives water very well and survives a fire fair (it might melt, but it'd all still be there)...might explain why there are stories of my great-great grandfather not trusting in banks or banknotes and instead burying all his cash in coins (whatever happened to those caches, they're probably right where he buried them).
But, back to the half. For all odd denominations, it goes to stores and banks failing to distribute them to people. About a month ago, I had miscounted coins that I had put into a little sandwich bag and took to a bank, XX dollars and 50 cents, missed a half, it was still on the counter at home. Instead of handing me back one of the halves, the teller opens her drawer, pulls out two quarters, and hands me them.
(The half would circulate if we redeonimated though, and put in silver again...it'd be worth something in metal and in face-value once more; so would all coins, less Benjamins more Cents)
|
|
Valued Member
United States
75 Posts |
Well I do like Half Dollars, but the problem here is that my area seems to be completely devoid of them. I've stopped by several bank branches in recent weeks and they have zero in stock.
It's as if the coin never existed!
I may have to get my branch to order in some rolls.
|
|
Moderator
United States
188770 Posts |
|
|
Pillar of the Community
United States
4901 Posts |
Quote:
Solution: Redenominate. Put gold and silver back into our money and eliminate fiat. Let the precious metals control inflation since it's clear that the government cannot. Really?  That would be SOOOOO MUCH easier to accomplish. We can't even get rid of the $1 bill and the cent.... |
|
Valued Member
United States
76 Posts |
Quote:
Eliminate this, change the composition of this to a cheaper metal, etc, etc. That's all I seem to hear. I alluded to this in an earlier post. Changing composition or eliminating denominations is only a symptom. Briefly, and without straying too much into politics, the problem is our monetary policy. Because of that, our money just isn't worth as much as it used to be. Unless things change, our grandchildren will be debating eliminating the dollar coin or changing its composition to a cheaper metal. |
|
New Member
United States
1 Posts |
As far as $2 bills go, I don't do them and refuse to go that route. I'll take quarters b4 I take 2 dollar bills. There's a belief that the bills are cursed and cause issues to those who get them. Maybe it's a story, maybe it's not but I am NOT taking any chances since we already have enough problems going on in the house. "Many vending machines already accept and dispense dollar coins, so, why quit making them?" What it comes down to is that not a lot of people like the dollar coins and there was such an under demand it was costing the gov a lot of money to store the coins so they really couldn't go on. Plus there's a secondary problem, as far as dollar coins go, the push to switch to them is in an effort to save money in the government but the problem is that some believe it cost the gov money, not save it. The numbers used to show how much money could be saved are using very outdated data. judging by all the articles I've read plus a few news clips on youtube, they peg the average lifespan of a bill from being anywhere from a measly 9 months to a solo article saying 60 months but the upper limit seems to fall at the 48 month mark. However an article I read that argues about if the coins would save money says with the better quality materials that they are using, the life span is closer to an average of a whopping 70 months! almost 6 YEARS of usage. Plus one has to calculate the increased cost of shipping the coins since they are a lot heavier then a bill, the cost of retrofitting all the machines that can't handle dollar coins, and how people are supposed to lug around the coins when wallets aren't designed to handle a ton of coins these days unless they start using a tin or something to hold coins. Plus there's the issue with it being confused with a quarter. It's way to similar in size. I compared a SBA and a pres to a quarter and the size difference is less then 1/8th inch. My personal opinion on dollar coins is this: IF the majority of people actually liked the coins, IF there would be enough evidence the switch would actually save money, and if they could go something about the size issue, I could kind of get behind the idea of a dollar coin. I tried getting a couple coins out of curiosity and I just don't know. I spent a james buncahan at the goodwill and the woman looked at the coin pretty funny so I might just go back to dollar bills unless I can track down a neat mighty ike. And I got a beautiful 1979 Susan b Anthony that I can defiantly see the quarter confusion issues. Will I spend the SBA one day? Not sure since it's really cool looking but who knows Quote:
So, in conclusion, why can't vending and self checkout machines just be MADE to accept and dispense these denominations here, just as they are in many other countries, instead of simply eliminating them from circulation? I've read a few articles and some vender machine makers are willing to make the machines dollar coin friendly IF they'd get subsidy's for each machine the has to be retrofitted since the articles say itd cost around 50 bucks a machine. Quote:
I think working as a cashier has led me to realize that people don't dislike half dollars in particular (usually) but all coins in general. Not in this house(3 adults). We use coins along with bills with small buys and mostly bills, sometimes some coins with larger buys. Pennies, nickels, dimes, and quarters. |
|
New Member
United States
2 Posts |
I live in Jackson, Wyoming and consistently spend half dollars and dollar coins at retail. I also tip with them at restaurants (pay the bill with a credit card, but tip in currency). In the last two years, I'd estimate that I have spent $2000 - $2500 in halves, and $2000 in dollar coins. I will keep doing so, b/c I really enjoy the coins and the reactions that I get when I spend them
|
|
Pillar of the Community
United States
1667 Posts |
@gkhanna74,
Nothing wrong with that, but you'd be eccentric different from most people. the fact is, Halves and dollar coins didn't circulate in 214 when this thread was started and finished, and they still don't circulate now, and honestly they never really did.
the average cash register tray has 5 bill slots and 5 coin slots. for the bills, $1, $5, $10, $20, and the last used for $50 and $100....(a lot of places keep that empty for rolled coins instead quarters dimes and nickels)
for the coins, Cent, Nickel Dime, Quarter and more rolled coin, usually 4 rolls of cents.
businesses don't use them, vending machine don't always take them, they just don't circulate for whatever the reason. I don't want to see them ended, but I also don't see them every really circulating or being "day to day" coins.
Plus, dollar coins would be difficult for strippers and I'm not tipping $5s. :)
|
|
Moderator
United States
188770 Posts |
|
|
New Member
United States
2 Posts |
I agree that my half dollar and dollar coin spending is a lonely practice and is unlikely to gather momentum with others. However, our local Whole Foods and Albertsons stores accept them in the self check-out registers, so that is an encouraging sign. I also have found that Walmarts accept them in the self check-out lanes
|
|
Page 3 of 3
|
Replies: 40 / Views: 8,966 |
Page 3 of 3
|
First Page
Previous Page
Posted 06/26/2014 12:27 am
to the Community, gkhanna74!
