Spending Of Dollar Coins

True and True.

I don't really understand why people are complaining about having to walk around with dollar coins in their pockets. Carrying around 3 or 4 dollar coins is no move inconvenient than carrying around 3 or 4 quarters. Personally I'd like to have both a $1 and $2 coin, similar to what Canada has done. Then you could carry 3 coins worth a total of $5.

I also don't understand folks who refer to the NA dollars as "politically correct". It's not as if we haven't put Native Americans on our coins before, after all. Personally I think the NA coins are absolutely gorgeous and it's a crying shame that most Americans have probably not seen one in years.

Size and design have nothing to do with the dollar coin's failure to circulate. It's the dollar bill.

I don't like the composition the mint uses for the dollar coins. They turn real ugly real fast. I also think they should be reeded and have the date/mm on the obverse where it belongs.

For a couple years on this forum, this dollar coin issue has been thoroughly investigated from every aspect - alleged savings, etc. This research was a project of mine in which I continually asked for more input and review/legitimate critique of where the data was leading. I also repeatedly said that whether dollars or coins were the best option for the Joe on the street, I would like to see that option used.

The data does not hold up to the alleged reports of savings and, as is typical, the average Joe ends up with more out of pocket expenses through secondary channels of implementing metal. But the politicians get to polish their name tags by saying they have saved taxpayer money - which is a hypothetical bunch of words on paper that the average Joe is not benefited by anyway since taxes keep being raised, and whatever tax dollars might have been saved are never seen by the average Joe (review governmental waste).

The average man actually ends up having more out of pocket expenses for things he already uses/pays for as costs of services rise and the psychological affect of the dollar now just being pocket change is exploited by businesses who raise prices accordingly.

in the end the following thread was made b/c the data showed the coins were not we (note that word) all thought they would be. Other options were discussed.

The long project resulted in data/numbers showing there is no factual legitimacy to claims (they also were not made for deceit) to the coins being a good thing overall for America. People wishing the bill's demise did not give a direct answer (that addresses the issue being asked) in the eight pages of the following thread. In the end, the logical assumption from those pages (and this is discussed in detail) is stated that the demise of the bill is called for by the people who simply have an emotional desire to see their preference and have not ever had the notion to consider the impact it would make on others. I also will gladly state here that I have been guilty of this very thing myself during my life - just as everyone else.

Its all here - and the search option can be used to find the threads which have the numbers etc. (although some are re-re-restated in the linked thread). Someone wanting to know where the data led can research it now for themselves on CCF.

If something else not thought of can be added - this is good also.


http://goccf.com/t/276283

The smallest paper denomination in Japan is the 1000 Yen bill, equivalent (roughly) to $10.00. The largest coin in Japan is the 500 yen coin, equivalent (roughly) to $5.00. (Looking online today, a dollar is equivalent to approx. 112 yen)

In the EU, the smallest paper denomination is the 5 Euro note, the largest coin denomination is the 2 Euro coin, there is also a 1 Euro coin. Right now a dollar is equivalent to 0.85 Euros.

Canada, of course, has $1 and $2 coins.

I realize that these are not exact comparisons and that exchange rates vary daily. My point is that these governmental agencies have coins that take the basic place in their economies that is analogous to that occupied by the $1 bill in the US (and really the $5 bill in the case of Japan).

If Canada, Japan, and the EU can all introduce dollar coins (or the equivalent) successfully, why can't the US?

I use my dollar coins to mostly buy newspapers on Sunday and for tips and most young people I notice know what they are.

I have more issues with spending $2 bills than I do with dollar coins. But, I lay the blame at the feet of our lousy public education system for that.

Because despite it seems like the near future, there's still time inbetween that. Everything isn't becoming digital overnight, so it's better to make it easier for the meantime. There's no schedule of when everything's becoming digital, and therefore we need to focus on the present. Despite Sweden's cashlessness, it isn't absolute and we did a coin revamp last year. These coins are definitely in use despite most people choosing other payment methods. Cash isn't dead, and it isn't going to be in the near future either whether you like it or not.

Revaluing the dollar requires a lot more work: all new money, markteting, education, trade-in program with deadlines, etc.

Just kill the cent, nickel, and one dollar note. With the dime now moving to the bottom, we virtually shifted the decimal point. The dollar coin becomes the new dime. Bring in a redesigned half dollar for your new nickel and you might even be able to get rid of the quarter when the ATB ends.