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 Replies: 141 / Views: 11,521 |
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Moderator
 United States
188440 Posts |
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SMH, I do hope they bring back some denominations for collectors. That would rock. I most definitely want them to continue minting cents and nickels for collectors, as they already do for half dollars and (unfortunately, as of this moment) the dollar coins. |
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Pillar of the Community
United States
1302 Posts |
Consider the following 1929 denominations:
1c worth in today's dollars $0.14
5c worth in today's dollars $0.66
10c worth in today's dollars $1.32
25c worth in today's dollars $3.29
50c worth in today's dollars $6.57
1$ worth in today's dollars $13.15
2.5$ worth in today's dollars $32.89
5$ worth in today's dollars $65.77
10$ worth in today's dollars $131.15
20$ worth in today's dollars $262.30
now,you might rightfully say that some of these coins did not circulate well... and that would be true- but the government created a coin that was worth $262.30 in 1929 wealth. This figure is slightly below 1/2 a week's salary for the US Median Household.
so consider, that we have no circulating coin in the US that carries the value of a 1929 dime and you can easily see not only the decline in coins as utility of commerce - but the decline in the US monetization culture. Did the US abandon coins intellectually in 1965? Looking at these numbers you have to wonder.
My solution would be:
kill the cent
reconfigure the nickel as the smallest denominational coin
continue the dime, quarter, re-size the half dollar and re-release it
mint a $5 and $10 coin with some percentage of silver content (maybe 10 or 20%)
eliminate the $1 and $2 bills
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Pillar of the Community
United States
1007 Posts |
^ I agree with killing the cent, but continue producing them for collectors. They do that for the half dollar and all those endless dollar coins so why not the cent. The Presidential dollar series was a complete farce. Hopefully after the Presidential dollar fiasco is complete in 4 years they won't come up with anymore of these ideas. Keep the Native American dollar coin. It's attractive and needed. I like the idea of a 2ยข coin minted for collectors, but not a zillion different commemoratives. I also like the idea of a $5 and $10 coin, but not if they turn it into a commemoratives series where you have to get 5 P, D and S coins every year.... just one for each mint per year. Isn't the $2 bill for collectors too? I don't remember seeing any in circulation. But they definitely should do away with the $1 banknote. The rest of the world has successfully done away with their base monetary unit (dollar, pound, etc.) as a banknote but the USA is always the last to do anything. Why is that? Does anyone at the mint monitor what coin collectors discuss and take into account what collectors think? Edited by matchbox
02/15/2012 5:43 pm
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Valued Member
United States
60 Posts |
matchbox, the 2 dollar bill is still in circulation. just go to the bank and ask them for some.
I would definetly eliminate the dollar coin. if you're going to do away with the dollar bill, who in their right mind wants to walk with 20 dollars worth of 1 dollar coins in their pocket?
I would never get rid of the dollar bill. Sorry, not gonna be caught walking with a purse full of coins. I do believe however that the penny needs to go
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Pillar of the Community
United States
2541 Posts |
If it saves us money or gives us the possibility of saving money, I'm all for it.
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Valued Member
United States
410 Posts |
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I would definetly eliminate the dollar coin. if you're going to do away with the dollar bill, who in their right mind wants to walk with 20 dollars worth of 1 dollar coins in their pocket? This argument comes up every time we talk about the dollar coin. Why would you need to carry $20 in dollar coins? Who carries around $20 in one dollar bills? I actually use cash to purchase things and rarely have more than 3-4 dollar bills. I simply try to use correct change when purchasing thinks to limit small denomination bills. |
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Pillar of the Community
United States
4132 Posts |
Why would you want to carry around 20 quarters when you could just carry 5 dollar bills? We should get rid of the quarter and replace it with a quarter dollar note.
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Pillar of the Community
United States
7840 Posts |
By the time the smaller denominations are phased out, CASH will be phased out.
Buck Rogers "credits" anyone? Then again they were "golden" diamond shaped tokens used in gambling establishments.
Oh brother, my "geek" is showing.
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Pillar of the Community
United States
4897 Posts |
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Oh brother, my "geek" is showing.
Dude! What site are you on? You are in good company here!  |
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Bedrock of the Community
United States
10038 Posts |
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as a banknote but the USA is always the last to do anything. Why is that? Where is the sense in doing something just b/c everyone else is doing it? The very basis of the American way of life was grounded in the fact we did NOT follow the pack. I personally am thankful for that fact. Thankfully we are not yet global sheeple. And just b/c one person does not carry a lot of dollar bills does not mean there are people who do not. Evidently there are enough people who do carry enough dollar bills such that they want to keep using them vs. the coins. To each his own. I still say make polymer bills for those who want them and coins for those who want them. Why not make everyone happy instead of it being an either/or situation? Both types of $1.00 units would be durable and cost effective. Yes, its good to save money - but in the grand scheme of trillions of dollars, the time they continue to waste over this issue is also a waste of taxpayer money when compared to how they could be spending their time. Go here to see just how trivial the savings on this would be: http://www.thevine.com.au/blog/tobl...0090312.aspxIt seems to me this coin do or don't scenario is akin to wanting to take over a castle by sitting at the base of the outside wall and scraping the stone with a spoon in an attempt to crumble the wall. You would spend a great deal of time and energy to get the job done - but in the end, the results are so minimal as to be ineffective. The time would be a lot better spent on making a catapult. How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Bedrock of the Community
United States
10038 Posts |
I know, this makes 2 posts in a row - but I was in another thread on the forum right after posting this and saw this from a Canadian CCF member: https://goccf.com/t/111072 I really never liked accumulating change and I wasn't thrilled when they switched from notes to the loonie and toonie since it was easier to carry notes in my wallet rather than a pocket full of change.
This is from someone who lived through the experience. I personally have seen/heard this a lot. Again - make both out of durable materials - why not? |
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Pillar of the Community
United States
4132 Posts |
The plural of "anecdote" is not "data".
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Bedrock of the Community
United States
10038 Posts |
Of what would the "data" be compiled if not accounts from individuals with personal experience?  An apropos interpreatation of the saying, "They who refuse to study history are doomed to repeat it," would be simply, "those who ignore the experience of others will make the same mistakes." I was around and in Canada when they made the switch, A good number of people in Canada are not old enough to have been a part of the economic environment when only bills were available. The people at the time of the Loonie's introduction were always saying they hated the coins b/c they made more pocket change, but they knew they were "stuck" with them. Time has healed the wound (like a person born blind from birth cannot fully understand what they are missing) - and the new generation in Canada is actually proud of the Loonie (I personally like the looks of them also). But what kind of "data" is it to only take into account the current, lacking-personal-experience-of-the-former option, attitudes? Sounds a lot like the modern media to me!  Again I have to say I am not sure what is wrong with simply making both bills and coin? I would bet the bureaucrats will see a satisfactory solution is never reached though.  |
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Pillar of the Community
United States
2295 Posts |
Quote:Go here to see just how trivial the savings on this would be: http://www.thevine.com.au/blog/tobl...0090312.aspx That link has nothing to do with savings. It just compares how much space a trillion one dollar bills or 10 billion 100 dollar bills take up. |
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Pillar of the Community
United States
2295 Posts |
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Again I have to say I am not sure what is wrong with simply making both bills and coin? They already make both and the coins just sit in the FR vaults wasting money. And I do keep more than 4 dollar notes in my wallet, since I don't want them just sitting around. If I get more than 10, I'll put the rest in a drawer. I'd do almost the same if the note went away. I'd keep about 5-6 coins and the rest would go in my drawer. I have one of those rubber/plastic coin holders that I could store the extra coins in. Pretty easy to do. That way they don't jingle in my pocket and bounce around. Most people are just stubborn and don't like to change habits is the real reason why things won't change.  I bet people that had a horse and buggy in the early 1900s didn't like the automobile. Edited by wquinn
02/16/2012 08:38 am
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Replies: 141 / Views: 11,521 |
First Page
Posted 02/15/2012 3:01 pm
