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 Replies: 38 / Views: 10,309 |
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Pillar of the Community
United States
4901 Posts |
Quote:
The $200, $2,000, $70, $700 and $7,000 bills were "my" ideas. That was kinda assumed....  |
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Pillar of the Community
United States
998 Posts |
I think the reference on the BEP website was that there never was a US issued $3 bill, the only ones ever issued were by private institutions and were without legal tender status.
Getting back to reality here for a minute, I appreciate your enthusiasm for various denominations but the practicality of commerce demands less rather than more types of coins and bills as they decline in relevance to today's society. There is no need for smaller coins, the cent will be gone soon, the nickel may not be far behind. You might see a brief resurgence of the half and dollar coins and maybe even a $2 coin once they stop making the smaller bills, but that wouldn't last long.
In my lifetime I expect to see a cashless society or at lease a coin-less society. Inflation, while fairly controlled these days, still takes its toll and soon enough coins will be irrelevant. Today they exist primarily to make change for purchases with bills.
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Valued Member
United States
461 Posts |
n9jig I think we are as cashless as we are going to get at least in my lifetime we may tip a little more to cashless but I don't see us tipping much more over, I just don't see it going anymore cashless because those holding onto cash are going to remain doing so. This may be the young with no bank accounts, those with bad credit, those who don't like the idea of everything being electronic, those without bank accounts or credit cards or illegal aliens (I live in the southwest and the number of Mexican illegal and legal immigrants who don't use banks is very high as is check cashing places for them my city probably has 30-50 of them for a city that doesn't have a 100,000 population), or the elderly that remember a time when most things were done with cash and they still cling to that.
That being said I already think we are a fairly cashless society. I never carry cash personally, you'd be lucky to find me with a dollar on me. And a lot of that has happened in the last 10 years. So trying to reintroduce bygone denominations and coins in society that doesn't want them or really need them isn't going to work. We may see a resurgence of the half if they do away with the cent and the dollar bill (the dollar bill mostly) but getting congress to do something they should have done 15 years ago is a task in it self.
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Pillar of the Community
United States
1373 Posts |
For the life of me I just can't understand the need for a coin machine that uses either 50-cent or dollar coins. If people actually HAD those types of coins it might be another story, but in reality nobody has them. I haven't had either this past year and don't think I'll get any soon. I no longer work so all I get now is money from the government. This is just sent by computer to my bank account. When I need to use any of the cash, I either use my computer to transfer the money or use a plastic card to pay for things. No coins (or paper money) used at all. Last year, when I still had a job, I used to go to the bank every week with my paycheck. I normally put most of it in my account but also asked for $20 or so for 'fun money' to use if I ever bought something somewhere that didn't accept credit cards for payment. Each time I asked the bank to give me either half dollars or dollar coins. (You'd have to request this as you would NEVER get them automatically) Most times they didn't have ANY in the bank; once in awhile I got a few. It makes you wonder: how many people asked for the 'special' coins? One out of a hundred? One out of a thousand? Vendors in this area (Detroit) wouldn't need a vending machine for halves or dollar coins. They MIGHT rather have one that accepted Canadian coins; which would be way more useful. Even one that took Euro's might be more useful than one for US halves and dollars. It's not that we hate the attempt (I actually like the attempt to use $100,000.00 in uncommon Kennedy halves and various dollar coins), it's just that the attempt to find 'wacky' ways to try to get the government to circulate those type of coins have NO BENEFITS. |
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Pillar of the Community
United States
2168 Posts |
Halves use to be in circulation and used prior to 1964. In 1964 between the Kennedy half being issued for the first time and the last yr. of 90%, many held on to them. The next few years, halves had 40% silver and again held. So, I feel for the most part many just got use to not using and thus, where we are today. I do search halves at times and do put them back in circulation little by little. Some are really happy to see them. Some don't really know what they are until really looking at the coin. |
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Valued Member
United States
179 Posts |
How about we pay our foreign debts with boatloads of coins? Worked quite well in buying munitions during the civil war. When we give $20 million in foreign aid to Bolivia etc let us send them boatloads of coins.
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Valued Member
United States
179 Posts |
Honestly ......back in the 60s and earlier a dollar, or a half dollar, was a stand alone purchasing unit. Dad would roll up to the gas pump and say "a dollars worth" and got three to four gallons of gas. A hamburger was 15 cents. Pack of cigarettes 35 cents. So here we see a few half dollars would get you through the day. Today, it is an insult to actually call a dollar a dollar. It's place today as a stand alone buying unit is the 20 dollar bill. You spend your 20 and are given back small change. Mostly the change goes unused as it has insignificant buying power and takes time to use.
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Valued Member
United States
179 Posts |
PS if the govt wants these things in use then on your 1040 there should be a box to check saying " accept $1 coins for your refund increases the amount 5%"......
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Pillar of the Community
United States
4901 Posts |
...except the gubberment gave up on getting people to use them....if they REALLY wanted to get them used they would just eliminate the freakin dollar bill
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Moderator
 United States
188924 Posts |
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Rest in Peace
United States
1729 Posts |
I buy a roll of dollar coins every month and give them out as change or, mostly, tips. I would imagine that they go straight to the vendor's bank and never back as change.
Side note - my credit union cannot seem to get dollar coins. I have to go with my brother to his bank when he does his once-a-month business there.
Dollar bills are bulkier than dollar coins, which is one good reason for using the coins instead, depending on how you carry your money.
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Valued Member
United States
461 Posts |
MY Credit Union carries the dollar coins pretty much just for me, they stopped carrying them but I complained until they carried them again. I get like 10-20 of them a week.
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Pillar of the Community
United States
1748 Posts |
The solution is removal of the cent, nickel and $1 note immediately from circulation. Leave the dime in circulation and round cash prices to the nearest ten cents. Start production of a new smaller, octagonal cupronickel clad half dollar and bimetallic two dollar coin. Cease production of the quarter, but leave them in circulation until half dollar amounts are sufficient. Withdraw two notes when levels of the new bimetallic coins are sufficient.
We would then have only four coins needed. 10c, 50c, $1 and $2. That would leave enough room in registers for a new $5 coin.
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Moderator
United States
188924 Posts |
I like how you think.  |
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Bedrock of the Community
United States
10038 Posts |
My grandfather had laundromats for years, starting in the 50s. This included not only washers and dryers, but also vending machines. The ONLY machine he had that would take half dollars was the machine meant for cashing in half dollars into two quarters!
And what was the machine that always needed the least amount of service? In other words he only had to "empty" them once a week, and might get up to as many as many as 10 halves? The half dollar changers. During the late 70s & 80s, he kept the machines b/c people were using the machines to raid their coin collections of silver halves to get money for washing.
He had locations with half dollar changers in a rural area, and in the city. It seemed the rural areas would produce a few more halves, but the overall tally was still pretty low.
He used to tell me people DID use halves when they had buying power. But just one in a pocket of change was enough.
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Posted 10/11/2014 08:48 am
