Eisenhower Dollars--Why?

Great post Dr. Daryll!

Cladking. No - the online debate - over many threads on CCF - started when there was a move to make a coin only basis in the states and was about the Presidential dollars.

While the coins do, indeed last longer, it was being touted they were financially going to save taxpayers so much money over the years. Again, a lot of that turned out to be hype, the average man having to pay more out of his pocket in the end, and political moves for government benefit (the link posted before containing the Harris poll reference).

The facts turned out to be that yes, the coins will last longer - no doubt about it, but its not going to save us the tons of money the report said it would, and it will mean we pay more actual money out of our own pockets as prices will rise (psychological reasons cited before and also the fact it costs businesses/services/banks/credit unions/whoever deals with money a lot more to handle/ship metal vs paper - they pass increased costs on to us). I do not believe though, at least I did not find any, there are studies to see how long it would actually take (assuming it might in spite of inflation/cost of living increases) for the costs of implementing coin only to eventually see any real savings b/c of how much longer coins last.

It seems like there would have to be be eventual savings using metal since it is way more resilient (think ancient coins), but theory on paper is a lot different than the actual workings of society/government/economy.



If you have ever had a business where you need to handle large amounts of money, the answer becomes very obvious. I used to help my grandfather with his weekly deposits to the bank from his laundromat business. The thousand dollars of rolled coins was very heavy, bulky, and cumbersome to handle when carrying it anywhere. We had a very large leather satchel that made it very obvious to anyone around what was in the satchel. We could carry 1000 in bulls discreetly in zippered puches tucked under our arms.

In fact, as stated on other threads, when the Presidential dollar series was announced here, the Canadian banks I would frequent (did Canada roll searching also) made the statement they could not believe the US was going to be stupid enough not to learn from their mistake of making only the Loonie. At the time that surprised me, and I asked why they would say that?

The answer was that the average person was getting stuck with so much more change b/c it cost the banks so much more to ship a couple million in metal coins vs. paper to get larger bills. The banks told me they simply passed on the cost to the consumer, and that they "preferred" not to take in large amounts of the coins for this reason.

The average Joe does not handle 1 million in coin each week, so it seems not to be a big deal on a personal level. The average Joe may also never see the very real connection between the rising prices on everything and coin implementation, but they are there and happen. The little guy ends up paying more in the end. When, if ever, the costs finally would be recouped is ?

Why make more costs to the public, and why make the majority of people give up their preference when its not saving "money" (hypothetical and intangible marks on paper) as was originally reported and thought?

If you like them, then carry them. If not, then don't. There is no verified pressing economic advantage to make them the standard for everyone, despite the initial (flawed) government report.

[jbuck


No, anyone here wanting to do the resarch will find the information accrued here on the forum in the various threads show otherwise.

As just one example, you have kept saying you don't believe there is any proof the majority of Americans prefer the bill, then yourself say coins will never be accepted until after the choice is taken away of using bills, and also ignioe the Harris poll reference showing otherwise in one of the previous links I posted.

All the issues were handled and the results tallied. You were there when asked to offer data/proof otherwise and it never came. It was all a neutral study to find the facts and open for all input.



Is what the data/results showed - facts are not subject to personal opinions.



Ever smell your hands after handling brass?

Anyway... good idea. We can join forces on this one. My emotions hate the idea, but we need to kill the cent.



Sounds like what my wife says. But its been 32 years with no end in sight!

I have been watching this discussion since it started. I am not going to get involved in the political discussion, but all I will say is:

If the one dollar coin and bill exist at the same time, the dollar coin will not circulate well.

If you like dollar bills, use them. If you like dollar coins, use them. There is no need to make dollar coins the standard.

If this is true than the logical solution is to make all currency out of paper. Indeed, we could even issue .1c and .3c paper notes to solve the problem of overpaying when we buy two of something at are 3 for $2. There would no longer be any need to short the customer .3c on such a purchase.

I don't know how they computed the cost of counting and handling coins vs currency but I know they used fuzzy math.

This is another point I've tried to hammer home a million times but it usually falls on deaf ears.

Currency is filthy and disease laden. God only knows how many colds, flus, and deaths are caused annually by currency but the higher the turnover the higher the number and one dollar bills turn over very rapidly.

Someday we'll have another epidemic like the 1918 flu and there may be literally millions of deaths that could have been prevented if there were fewer vectors of transmission and more coins instead of dollar bills.

The next one could be far worse with a shorter incubation period.

People aren't looking at the big picture just their favorite little parts of it.

The status quo is becoming increasingly entrenched in all areas of human knowledge and behavior. This is a severe problem because most trends and processes today are unsustainable. We have borrowed so much from the future there may be too little left of it for the species.

I know I said I was done...


Because of human nature. We are naturally afraid of change and given a choice we will stick the familiar. Remove the choice and we will adapt.


No, I did not ignore it. First, that is just one poll. All polls are biased, so you have to look at the results across several polls to try to correct for that (and we still may be wrong*). Second, I take your information and verify against your sources. I then look at other information and its sources. When all is said and done I came to a different conclusion than you.



As cladking said above, it is not the smell but the diseases that can live in linen and not on coin.


For what it is worth, it was a song reference. If you knew it, you would get it.

Okay. Now I am done.





* If the polls were always right, Hillary Clinton would be president now.

I will accept that.

Really cold and windy here today. I had shorts on yesterday. Shorts!

wow. I looked at this thread to talk about Ikes. Turns out it's a political thread. Who knew?