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 Replies: 141 / Views: 11,522 |
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Pillar of the Community
United States
1007 Posts |
Quote:
trout1105
I cannot belive the amount of debate and fear being generated by the simple change of removing the dollar note and replacing it with a coin.
In 1966 in Australia we not only removed 1 type of note or coin we changed from the pound,shillings and pence system to decimal system with an entire change of coinage and notes without a major drama or outcry.
We later removed the 1 and 2 dollar notes and used coins instead.
Nobody died as a result and nobody lost any money or sleep over the change.
It just happened.
What is happening in the US over this is just plain stupid and irrational.
If this change can save the US billions of dollars the answer to the debate is so simple DUMP THE NOTE.
A lot of people refer to the "end of the world" situation retaining the dollar note will only accelerate the "end of the world" event (If it indeed occurs) Welcome to 21 century America.  Just a simple comment about changing anything strikes fear into some Americans. It's these people who listen to talk radio demagogues that blame everything on the federal government and teach them to be afraid of it. Eliminating the $1 bill causes some to throw terms around like tyranny, Big Brother, being forced, "sheeple"..... they learned from conservative demagogues. After that they wrap themselves up in a flag of patriotism. This makes their listeners xenophobic. Change isn't something to fear. Change is normal and natural. Some people are just afraid of change and especially don't want anyone making a decision for them. My state has a 75 MPH speed limit. My car can go faster than that. Big Brother is forcing to drive slower than I want. It's tyranny I tell you, tyranny! What's next, communism?  Eliminating the $1 banknote for the $1 coin makes sense and it will eventually happen. |
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Valued Member
United States
60 Posts |
matchbox, I agree with your assesment of the governemnt and how some people overblow a situation. The fact of the matter is, it is safer to drive at slower speeds and when cosidering human error and the time it takes to stop a car. Also, driving at around 60 MPHG saves gas and lowers the cost for everyone.
I dont agree that coins will eventually replace the dollar, especially with metal prices bound to climb as world demand incereases due to growing economies as well as the growing world population.
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Pillar of the Community
United States
2295 Posts |
Quote:
I dont agree that coins will eventually replace the dollar, especially with metal prices bound to climb as world demand incereases due to growing economies as well as the growing world population. It'll take a very long time to make metal too expensive to make a dollar coin. Last year the Mint made 82 cents on each dollar coin. Don't forget, a dollar note normally lasts less than 2 years and a dollar coin will last around 20+ years. Huge difference. So you have to print about 10 notes per dollar coin. If a note costs around 6-8 cents each, that costs 60-80 cents for the notes and just 18 cents for the coin. |
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Valued Member
United States
60 Posts |
wquinn, are they factoring in the price to aquire the metal? because Presidential dollars melt value is at .065 cents each. I understand the mint made money on the dollar coins. the problem is, delivery of coins that weigh way more than notes cost money anyways you look at it. is saving 100 million a year an estimate factored in after it cost 20 billion implement? the mint may be making money, but overall, how much is it costing everyday americans? no matter which way you look at it, each coins weight will cost someone. simple physics. I would be very wary of the 20 year estimate. are they using this statistic based of the current coins in circulation? if so, those dont cisculate well, so you wouldnt have to replace those as oftern, "yet" |
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Moderator
 United States
188443 Posts |
Quote:
Also, you are too focused on the second purchase. Yes, you could do that, but what about the 3rd, 4th and 5th purchase? Let me break it down for you, using your original example... "If I have 5- 20 dollar bills in my wallet and I make 5 purchases at 5 different locations at $17 a piece, I would have after spending my last 20 dollar bill, $15 in ones. "Purchase Give Get Wallet
-------- --------------------- ------- ----------------------
1st $17 1 ($20) 3 ($1) 4 ($20) 3 ($1)
2nd $17 1 ($20) 2 ($1) 1 ($5) 3 ($20) 1 ($5) 1 ($1)
3rd $17 1 ($20) 3 ($1) 2 ($20) 1 ($5) 4 ($1)
4th $17 1 ($20) 1 ($5) 2 ($1) 1 ($10) 1 ($20) 1 ($10) 2 ($1)
5th $17 1 ($20) 2 ($1) 1 ($5) 1 ($10) 1 ($5) You still end up with $15 in a ten and five, not $15 in ones.  |
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Moderator
United States
188443 Posts |
I need to put my moderator hat on for a minute... This thread has danced close to the political edge a couple of times and so far everyone has kept from crossing the line. Please keep that in mind and remember that this is not the General Discussion forum.  |
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Bedrock of the Community
United States
10038 Posts |
wquinn: Quote:
Since paper money is made of 75% cotton and 25% linen, it would make nice clothes. So actually we need to be saving both - bills for clothes and coins for bullets!  |
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Bedrock of the Community
United States
10038 Posts |
jbuck Quote:
Fine, so spend them the next time, do not let them accumulate! Aha - There is a hidden conspiracy! So in reality someone is paying you to push these so everyone will want to spend all of their money instead of saving it!  ...so just exactly who are you working for? Kaos?  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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Pillar of the Community
United States
3640 Posts |
penny
nothing wrong with copper. I do also.
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Bedrock of the Community
United States
10038 Posts |
Matchbox: Quote:
Eliminating the $1 bill causes some to throw terms around like tyranny, Big Brother, being forced, "sheeple"..... they learned from conservative demagogues. After that they wrap themselves up in a flag of patriotism. This makes their listeners xenophobic. This looks as if it was directed at me since you use quotes from a previous post. My motivations were not so surface level. They never are. I have been debating for many, many years from a psychological standpoint; taught classes on categorization of human nature; and had to analyze people to see which of the primary patterns people tend to fall into. Introspection of personal motives is the very first thing I try to make a habit of before taking on a serious debate. It is then interesting to see which people, by their responses, have apparently done the same thing. These are the people, who in the end, turn out to be those I know I can disagree with but can also learn a great deal from when debating them b/c they tend to stick to a logical plane of discussion by having learned to divorce personal preferences from discussion -- thus not wasting time on non-relevant suppositions. This entire discussion here, on my part was not only to find areas I was missing concerning the issue, but also was digging to find which people seem (note that word) by their responses, to be individuals falling into the category as stated above. Those who (unknowingly a lot of the time) cling to their own personal desires uber alles are those who end up with true ad hominem (time wasting and self invalidating) responses. Anytime there is an attempt to divert the focus from the main issue onto one person's (supposed) motives.motives.beleif/character is an indicator the author of the statements is feeling cornered; cannot find legitimate answers; gets frustrated (emotions and personal preferences are too important in the issue); and wants to find an "out" while saving face. These are not my own, personal suppositions - this is the definition of ad hominem and related responses. Why did I present a possible, viable alternative that erased cost effectiveness from the equation? Cost effectiveness, up to that point, was the main pillar of support the coin-only viewpoint stood on. I was testing the waters to see just how deeply entrenched, by preference, the coin-only people were. When the cost pillar was removed, some people were able to continue a legitimate debate. These people are the ones, in my opinion & from experience, I am more likely to learn something from. I have no problem stating when I know I am wrong. As an example, I personally do not like the idea of getting rid of the penny. On another CCF thread I posted a response (to jbuck I think) that I know I have no legitimate leg to stand on as to whyI want the penny to be continued as a circulation coin. I want them only b/c I like them. jbuck's is argument to get rid of them is the more logical side of the issue. Whether or not I like it is immaterial! To continue to argue the point to keep pennies by making suppositions as to that jbuck's political stand/beliefs/character traits is counterproductive and a waste of time. BTW - for clarification purposes... I do not pay for cable/satellite and so I do not listen to any news station. I do not listen to any radio or web talk show "conservative demagogues." I also do not get a newspaper. I literally have all day to study and research. I am addicted to learning/knowledge. I enjoy literally taking both sides of an issue, digging into them, analyzing both sides, ans ==d finidng the truth that falls out. This is where any political views I have come from. And this thread is not the place to talk about that. I also know I fall short of my goals and aspirations at times b/c I am human (and sometimes less than that with my health issues that provide for a decent brain fog on various days). 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
17884 Posts |
Quote:
I don't see input about other countries large hordes of US currency. How much will it cost to replace their foreign currency reserves? I'm sure they don't want US dollar coins. Will they accept 2 dollar notes instead? Well since most of those reserves are in $100 notes I don't see dropping the dollar note as being much of a problem there. Quote:
Even with the increased cost of production
how many other entities can state that they
turned a 50 million dollar profit. This is a great
example of how a business can run without the use
of taxpayers dollars. True, but this next year, without the dollar coin, expect the mint to post a whopping big loss. The only reason the mint showed a profit this year was because of the dollar coins. Without them the circulating coins would have shown a $38 million dollar loss. Quote:
It's these people who listen to talk radio demagogues that blame everything on the federal government and teach them to be afraid of it. Uh, I listen to them but the idea of change doesn't scare me. |
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Moderator
United States
188443 Posts |
Quote:
Aha - There is a hidden conspiracy! So in reality someone is paying you to push these so everyone will want to spend all of their money instead of saving it! No conspiracy. Please notice in my example that he still has $15 at the end of the day. Rather than having $15 in one dollar notes, he simply has one five dollar note and one ten dollar note. |
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Pillar of the Community
United States
2295 Posts |
Just in case people don't know it, you can select the "Reply to Topic" link and there is a spelling checker.  Quote:wquinn, are they factoring in the price to aquire the metal? because Presidential dollars melt value is at .065 cents each. I understand the mint made money on the dollar coins. the problem is, delivery of coins that weigh way more than notes cost money anyways you look at it. is saving 100 million a year an estimate factored in after it cost 20 billion implement? the mint may be making money, but overall, how much is it costing everyday americans? no matter which way you look at it, each coins weight will cost someone. simple physics. I would be very wary of the 20 year estimate. are they using this statistic based of the current coins in circulation? if so, those dont cisculate well, so you wouldnt have to replace those as oftern, "yet" But yes, shipping is included in that price. I see what you mean that there is extra shipping that the FR and banks do, by truck. They ship by a truck and not via USPS, etc. Like using an armored truck by Brinks, etc. It really won't cost much if anything extra to ship, since an armored truck is so heavy a few extra hundred pounds really won't really matter. I belong to a credit union in NC and they don't order any coins at all from the FR. They get them locally from other banks or customers. That's why they added coin counting machines free for customers. So that helps reduce costs even further. |
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Rest in Peace
United States
9104 Posts |
People reject change.
Proof:
You can buy tri-fold wallets at any decent men's store. Last year, they even had a nice selection at Kroger's.
They haven't made the notes that fit those wallets since 1928.
That's 84 years, meaning very few people are still around who would even remember horseblankets.
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Rest in Peace
United States
9104 Posts |
Quote:
I also never quite understood why Canadians always accepted and used the $2.00 bills and the US people rejected them. Same reason Canada used pure nickel coins. They didn't ask people what they'd like, they told them what they'd get. Bank tellers say people don't like - half dollars
- dollar coins
- $2 Williams.
In 30+ years of using all three as normal change, I've had people ask for something else for under $20 worth, so where is this overwhelming "people"? Here's a test I've never seen anyone willing to try: For a period of one year, if someone asks for $10 or $20 bills, tell them that's an odd request, they have to order a week in advance, then wait 15 minutes for a time lock back in the main vault when they come in for them. At the end of the year, see if anyone bothers to ask for them, or if they have given up and settled for fives. |
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Replies: 141 / Views: 11,522 |
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Posted 02/17/2012 3:41 pm
