As has been mentioned, the banknote is the problem.
Canada withdrew the $1 banknote in 1989, two years after introducing the Loonie, and ceased production of the $2 banknote in 1997, a year after introducing the Toonie.
Britain withdrew their £1 banknote from Series D in 1988 (Scotland still issues a £1 note, but that's not commonly used from what I understand), five years after the introduction of the £1 coin.
The Euro started with coins in the €1 and €2 denominations and did not use banknotes for those denominations.
The $1 bill crushes any chance of the success of a $1 coin in the U.S. Get rid of the paper and the coin will fill the gap.
Likewise, stop minting pennies. I imagine there are enough in circulation that it would not hurt anyone if we just stopped minting them but let them stay usable.
They wont stop making the paper dollar because the sole and only company that makes the paper is in the district of one of the more powerful Senators (cant remeber which one offhand) and would stand to lose a good bit of money if the ones were DCed.
But, as mentioned, the only way coins would be accepted by the ignorant unwashed masses is to force it on them. And considering the idiocy in government from top to bottom, there is little hope of ANYTHING of intelligence being done any time soon.
As for the register drawer statement. Ummm, you dont run registers, do you? The newer narrow registers have FIVE coin slots, and the older wider drawers actually have SIX in a lot of cases. Either way, slot for dollar coins is there.
We handed out thousands of brochures, stickers, and 3" buttons promoting the brass buck when it came out. We've got a video tape around here somewhere, and had decent sized posters. The mint sent whatever we wanted--free.
Quote: Merchants don't use them because banks make it a hassle.
Do you care to explain that? Banks are just giving their customers what they want.
I want $100 in dollar coins, $100 in halves and $100 in $2. Just normal quantities for business use as change.
What bank can you walk in and get that order as easily as if you asked for $300 in dollar bills or fives?
You're right, banks are just giving their customers what they want. They being the bank, not the customer.
Quote: The Wal-mart Program lasted for one month, Jan 2000. During that period they distributed over 95 million coins before the end of the program. It took the Treasury 20 months to distribute that many after the program ended. The Treasury considers the Wal-mart Program a failure.
It was a failure because they distributed 95 million despite all the obstacles they put in the way. Typically:
We don't have any at the register.
You have to stand in line at the CS dept.
Limit five to a customer.
Even so, there wasn't a Mal-Wart within 50 miles (17 of them) that had any a week after the start.
If the out them in the registers and handed them out unless someone asked for paper (heck, I don't think they give you a choice of paper or plastic bags), they'd have gone through a half billion in a month.
Quote: I want $100 in dollar coins, $100 in halves and $100 in $2. Just normal quantities for business use as change. What bank can you walk in and get that order as easily as if you asked for $300 in dollar bills or fives? You're right, banks are just giving their customers what they want. They being the bank, not the customer
Name me a business who asks for that order.
I worked as a teller for 2 years in college. I never had a business customer ask for dollar coins, halves, or twos. You could walk in the bank where I work, and get the order you suggest right now.
That being said you are correct if someone needed that particular order every other day, most banks, if any, would have difficulty filling that order with out advance notice. But it's nonsense to say it has anything to do with the bank's convenience or the bank's preference. Banks ordered thousands of the dollar coins in 2000 and again in 2007. Unless they were purchased by collectors, many are still sitting at the banks. The reason is because business's don't want them, and when they are offered to the avg consumer, they say no thanks, give me my regular dollar bills.
That being said, I think we agree that unless the government eliminates the $1 note from circulation the dollar coin will never catch on.
Rewster where is your bank? I am on my way over to pickup change! There isn't a bank w/n 25 miles of me that could fill that order if I wanted it, at least not that I have found yet.
I know recently a bill was submitted to congress in regard to the ongoing bill vrs. coin saga. I don't know if it will go anywhere. the company that has been supplying the federal government is based in Dalton, Mass. I believe the name of the company is Crane and Company.
The banks around me will not order dollar coins, even the one that lets me order halves won't order dollars. Most of them won't order twos either, although some banks must because they do get into circulation.
Merc Man & Captain Fwiffo, That's interesting. It must mega bank vs community bank mentality. We are located in downstate Illinois. As I said though, we could fill it once with what we have on hand. But we will order whatever the customer requests and get it the next day.
Thinking about it after watching the Canadian ads for the loonie and toonie, the U.S. didn't do terribly trying to advertise dollar coins.
I actually like this one (though continually calling it the "Golden Dollar" is sure to have misled a large portion of the public):
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I don't think we can knock the mint for lack of trying, though circulating the ads more widely would help. It's definitely the greenback that's the problem.
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I've never seen this one until now, so I'm not sure if it's real or just made up for youtube, but either way I think we'll all get a good chuckle out of it:
"Besides, I still look good on paper." --- Bwwaahhhhhh...
I stand corrected on the ad front; however, I must admit that I've never actually seen those commercials before anywhere (and I've actually seen the latter two Canadian ones on Canadian broadcasts). I wonder what networks they aired on and when?
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Posted 04/26/2012 11:57 pm
, SaintRidley!
