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 Replies: 32 / Views: 5,775 |
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Bedrock of the Community
13014 Posts |
Quote:
$16.3 billion is a lot of money, about $50 per American citizen per year. Except it wouldn't actually be that much. Maybe from a production standpoint but the transportation costs would be much higher supplying the entire country with dollar coins and having to get them to Hawaii and Alaska. The math isn't as simple as it is always presented. People say anything that seems altruistic in a survey anyway, how they would act in practice when it is less convenient for them is a different story |
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Moderator
 United States
188560 Posts |
It will not be that bad when they no longer have to ship cents and nickels to those locations.  |
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Bedrock of the Community
United States
12057 Posts |
Three things to consider:
1. The zinc industry - stands to lose millions of dollars annually if cent production is eliminated, a process which might also result in layoffs, mine closures and unemployment, all of which are political suicide for representatives, a point which lobbyists are keen to exploit.
2. The vending machine and concessions industry - must redesign their machines to use dollar coins, or also, to accept $5 bills and give change in dollar coins. Businesses would have to purchase new machines or retrofit their existing ones, and the increased cost would almost certainly be passed on to consumers in the form of increased prices. Whether or not this would be acceptable by consumers and businesses, I don't know, but I do know the vending lobby will be preaching doom and gloom to representatives to scare them.
3. The Mint and Treasury themselves. If you don't think that makes any sense, consider what happens if the need to strike cents is no longer there, or the need to print $1 bills. Any equipment, dies, printing plates, etc. dedicated to such a purpose instantly become a liability that must be disposed of at a loss if it cannot be repurposed, as well as things such as cent planchets. A "wind-down" in production could be used to deplete supplies.
If the Government can overcome or minimize those three things, I think the demise of the cent and dollar bill could be swiftly engineered.
Member ANA - EAC - TNA - SSDC - CCT #890 "Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis |
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Bedrock of the Community
United States
17884 Posts |
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It will not be that bad when they no longer have to ship cents and nickels to those locations. And they only have to ship the dollars once since they don't wear out and would continue circulating for years. (Paper notes have to be shipped in and the worn out notes shipped back out continuously.) Quote:
2. The vending machine and concessions industry - must redesign their machines to use dollar coins, or also, to accept $5 bills and give change in dollar coins. This has already been accomplished. Every new machine or new coin mechanism installed since 2000 has been capable of accepting and dispensing dollar coins. (Not all of them have this feature turned on though. They come from the factory with it turned off and the operator has the flip a setting switch to turn it on.) Not all of them have bill acceptance equipment though. Many now have had credit card acceptors installed. (At our hospital you can buy a 25 cent pack of gum and put it on your credit card.) Quote:
3. The Mint and Treasury themselves. If you don't think that makes any sense, consider what happens if the need to strike cents is no longer there, or the need to print $1 bills. Any equipment, dies, printing plates, etc. dedicated to such a purpose instantly become a liability that must be disposed of at a loss if it cannot be repurposed, as well as things such as cent planchets. A "wind-down" in production could be used to deplete supplies. Not a great problem, and such law will not be a "everything stops tomorrow". At the mint cents would continue until inventory of cent blanks was exhausted. Cent die production would be slowed so that they wouldn't have a lot of cent dies on hand when blanks ran out. The presses and die stock can be used for other denominations so that isn't a problem. At the BEP the printing plates will continue to be used until they begin to wear, and no new plates will be produced. As the plates wear out the production of ones will eventually reduce to a trickle and stop. The paper can be used for two and five dollar notes so there is no problem there. They use the same presses for all the denominations so there is no equipment loss and the number of two printed will increase so there will be minimal effect on the workforce either at the BEP or Crane paper. Overcoming your first point, the zinc lobby is the real stumbling block. |
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Moderator
United States
188560 Posts |
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And they only have to ship the dollars once since they don't wear out and would continue circulating for years. (Paper notes have to be shipped in and the worn out notes shipped back out continuously.) Good point. Quote:
Overcoming your first point, the zinc lobby is the real stumbling block. Agreed. |
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Valued Member
United States
413 Posts |
It appears the biggest problem is the lobbyists and zinc industry.
I did not consider how political our currency would be involved.
I really appreciate hearing everyone's views and many of them I agree with.
I like an idea of saving money in a long run.
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Bedrock of the Community
Australia
21788 Posts |
Not much of a democracy when
special interest groups like the paper lobbyists
have more control over the Government than the voter is supposed to have.
What about WE the People?
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Bedrock of the Community
13014 Posts |
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. Not much of a democracy when
special interest groups like the paper lobbyists
have more control over the Government than the voter is supposed to have.
What about WE the People? If the majority of people actually wanted it it would happen. The overwhelming majority don't want it or don't care, it would just be another coin in the car cup holder to them. |
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Valued Member
United States
413 Posts |
Last two posts  Our country is mostly led by the powerful lobbyists serving self-interest folks, not all the citizens. That is what wrong with our country, methinks. I do not see this in many democracies in Europe even in Australia. I do hope this will change in the years ahead? |
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Moderator
United States
188560 Posts |
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The overwhelming majority don't want it or don't care Fixed it.  They do not care. There is only a small number of people on each side of the issue who actually care. |
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Valued Member
United States
413 Posts |
Jbuck, thank you for clarifying a poster's point. You are right about that!
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Bedrock of the Community
United States
17884 Posts |
Quote:
Not much of a democracy when
special interest groups like the paper lobbyists
have more control over the Government than the voter is supposed to have.
What about WE the People? The special interests are part of WE the people, and they put their money where their mouth is. So the politicians hear a well constructed argument from one side (Plus campaign contributions) and pretty much crickets from the other viewpoint. So which way do they vote? |
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Moderator
United States
188560 Posts |
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Bedrock of the Community
13014 Posts |
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That is so sad about our country. What would George Washington say about our present state of affairs if he were alive today?
Very disappointed and disgusted that he went to the war for us just to see that the democracy is not quite what he envisioned for the USA. That's what I think. You're reading far to much into this and turning a mole hill into a mountain |
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Bedrock of the Community
 United States
12477 Posts |
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"Follow the money." That's about all you need to know to understand the system. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Replies: 32 / Views: 5,775 |
First Page
Posted 11/06/2017 1:02 pm
