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 Replies: 41 / Views: 4,636 |
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Pillar of the Community
 527 Posts |
I want to know how long it would take for the dollar bill to disappear from circulation and become a collectors item?
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Pillar of the Community
United States
4132 Posts |
Strippers have been getting stiffed because of the persistence of the dollar bill. With inflation, they should be getting a lot more these days. Maybe strip joints will start giving you twos at the door, or possibly privately printed coupons. Anyhow, I know they survived in Canada.
Edited by CaptainFwiffo
02/03/2012 7:15 pm
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New Member
United States
38 Posts |
"So why not start making them? Or even $4, $6, $7 etc. bills. One for every number up to 100."
Can you imagine the absolute nightmare of making change this would be? I'm not sure if sarcasm or not?
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Valued Member
United States
126 Posts |
I wish that we could have some actual hard value to our coins.
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Valued Member
United States
253 Posts |
I agree with eliminating the $1 bill. I try to never carry more than 5 $1 bills at a time anyway. If I have more than that, I try to spend them down so my billfold is not too bulky. I would not have a problem with carrying around 4-5 small $1 coins in my pocket instead. I think it would take several years for the $1 bills to attrit out of circulation anyway.
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Pillar of the Community
United States
1796 Posts |
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I wish that we could have some actual hard value to our coins. Use nickels. (~6 cents in metal each) :-) |
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Pillar of the Community
United States
619 Posts |
If it saves a ton of money, go for it. This subject has been broached before on the forum. I'm willing to inconvenience myself and others with heavy pockets if it will eliminate all that waste. I'm accustomed to carrying a roll of "searched" halves into the supermarket when I shop anyway.
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Rest in Peace
United States
9104 Posts |
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I think it would take several years for the $1 bills to attrit out of circulation anyway. Six months, tops. A bill rarely lasts more than 18 months now. Accelerated wear on fewer notes would lower this figure and once the public saw them getting scarce, hoarding would remove the rest. |
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Valued Member
United States
185 Posts |
I have to ask....which is cheaper to make a dollar coin or a dollar bill?
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Bedrock of the Community
United States
17884 Posts |
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Once again, a bill has been brought up to try to cease the production of dollar bills. Not once again. While bills to create dollar coins have been introduced and passed several times, this is the first time as far as I know that legislation has actually been introduced to eliminate the dollar note. Always before it had been assumed that the dollars would co-circulate. This bill is over thirty years overdue. Quote:
I want to know how long it would take for the dollar bill to disappear from circulation Bigfredd is correct on this. Some rags may stick around awhile longer but it will be so hard to get dollar notes and the ones you do get will be in declining to poor condition that businesses will stop asking for them at banks and will be requesting dollar coins and twos. This WILL cause a shortage of space in the register so the dollar notes will start being returned to the banks instead of recirculating and will be retired. Six month MAY be a bit quick but I would be very surprised if it took as long as a year. Quote:
I have to ask....which is cheaper to make a dollar coin or a dollar bill? To make it once, the paper note is cheaper. but over the thirty year life of the coin a paper note would wear out and have to be replaced so many times that it costs about $1.50 to $2 to keep a dollar note in circulation as compared to the 28 cents to keep the dollar coin that long. |
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Pillar of the Community
United States
927 Posts |
Someone mentioned this topic the other day but I didn't see it on the news. I thought it wasn't true. I am actually surprised that someone actually introduced a bill to eliminate the dollar bill. That is a start. We will see how long it will take to finish.
I do agree that IF they stopped production of the dollar bill that they would disappear from circulation in less than 1 year. (That would be nice). Even most of my coin collector friends still prefer the dollar bill. Go figure. We are in the minority here, but it is the right thing to do.
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Valued Member
United States
493 Posts |
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Pillar of the Community
United States
764 Posts |
It would take a few years to significantly disappear from circulation. There are many uncirculated notes in treasury vaults, still available for release even if no new notes are printed. A note's lifespan is 1-2 years, but that does not include the 1-3 years it may sit untouched in a vault. Think about the series of the notes we all have and use right now. Many are 2009, a good number are 2006, and some from earlier years. These notes are more than 18 months old, but probably havent been in cirulation for that long. The treasury would have some options if the dollar note is discontinued: 1) Stop filling orders for them immediately or 2) continue to fill orders until the stock is gone. If option 1 is taken, they disappear quickly. Option 2 would take a few years.
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Pillar of the Community
527 Posts |
Quote:
It would take a few years to significantly disappear from circulation. There are many uncirculated notes in treasury vaults, still available for release even if no new notes are printed. A note's lifespan is 1-2 years, but that does not include the 1-3 years it may sit untouched in a vault. Think about the series of the notes we all have and use right now. Many are 2009, a good number are 2006, and some from earlier years. These notes are more than 18 months old, but probably havent been in cirulation for that long. The treasury would have some options if the dollar note is discontinued: 1) Stop filling orders for them immediately or 2) continue to fill orders until the stock is gone. If option 1 is taken, they disappear quickly. Option 2 would take a few years. Do you think this will increase the value of the $1 silver certificates, should the dollar bill be retired? |
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Pillar of the Community
United States
1796 Posts |
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which is cheaper to make $1 bill costs ~$0.09 each to make. Lasts ~18 months in circulation. $ coin costs ~$0.20 each to make. Lasts > 30 years in circulation (conservative estimate). |
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Replies: 41 / Views: 4,636 |
First Page
Posted 02/03/2012 7:14 pm
