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 Replies: 72 / Views: 6,690 |
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Valued Member
United States
206 Posts |
Libertad, your "weird idea" reminds me of the "Pieces of Eight" moniker for the old Spanish dollar: supposedly (and this may be apocryphal) change was made by chopping it into eight pieces. Thus a quarter was "two bits" and I am told that that amount would buy you a shave and a haircut!
Perhaps we should call your idea, the "Pieces of Six" proposal!
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Bedrock of the Community
13014 Posts |
Just getting rid of the one dollar bill wouldnt necessarily make a 2 dollar bill increase, really the only way to find out would be to do it.
Any cop that arrests someone for using a 2 dollar bill should be fired on the spot. I prefer my law enforcement with an IQ over 80. They all have cellphones, 5 seconds of google can do wonders.
Edited by basebal21
08/05/2013 12:08 pm
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Moderator
 United States
189603 Posts |
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Although I am in more favor of taking all the presidents off coins and putting Liberty back on them Yes.  Quote:
The two dollar notes are out there and the government still prints them as needed. You stop the dollar note and you will see demand for and production of the two dollar note increase. The $2 option IS there. Worth repeating.  Quote:
... the operative word there is "real." Saying we have a $2 option is as valid as claiming we have a half dollar. t How do you propose making them any more real than they already are?  Quote:
Just getting rid of the one dollar bill wouldnt necessarily make a 2 dollar bill increase, really the only way to find out would be to do it. I believe it will, but you are right, we should just do it and find our for certain.  |
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Valued Member
 United States
95 Posts |
@ jbuck, by "real" I mean a note which is actually used for circulation.
When one can find multiple instances of someone being arrested for using a $2 bill can you really say it's an option?
It's pretty obvious that without enough awareness of the $2 bill that nobody would seek it out if the $1 bill was eliminated. Canadians were always more receptive to the $2 bill, so when the $1 bill was eliminated they turned to that to keep more $1 coins out of their pockets. If the US got rid of the $1 bill and switched to the $1 coin how many Americans would even think to seek out a $2 bill which most are completely unaware even exists.
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Pillar of the Community
Canada
3692 Posts |
It wouldn't hurt to make a TV/Internet campaign that outlined the change plus the existence of the $2 bill. All it takes is education to make a difference. With the money saved from printing bills you could easily afford this as an investment.
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Moderator
United States
189603 Posts |
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@ jbuck, by "real" I mean a note which is actually used for circulation. But we do have a two dollar note that is actually used for circulation. The actually circulate a lot where I live. Quote:
When one can find multiple instances of someone being arrested for using a $2 bill can you really say it's an option? It is hardly a real problem. It makes more sense to say that our cars are not a real option since there are so many accidents. Again, how do you propose to make is a real option? Any design change is likely to have the same problem of not being recognized as legal tender. |
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Bedrock of the Community
13014 Posts |
Investing in an ad campaign would bring you a negative result from a switch. You can assume the money is going to be spent elsewhere it doesn't dissapear from the budget. Even if you just use that money for the ads what's the point then? The whole argument is it saves money, if you're spending that "saved" money on an ad campaign you've eliminated the benefit.
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Pillar of the Community
United States
899 Posts |
The switch would be fairly easy. Don't make them anymore and tell the banks they are no longer available and to offer the coins instead. To incorporate the $2 bill all they would need to do is start offering those as an option with the dollar coins.. and your 5 ones become 3 coins and a $2 bill or 2 $2 bills and a coin...
The only way to make the switch to coins is to stop offering the dollar bill. The only painful part of this process is getting the house and senate to actually do it.
I personally think the $2 bill is one of the cooler notes we actually have.
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Valued Member
United States
95 Posts |
replying to jbuck, and the rest of the participants, I seriously can't remember the last time I saw a $2 bill in circulation, and I look out for those kinds of things, and I am aware that there are over 1.1 billion supposedly "in circulation." My guess they're all collected as novelty items. If they circulate in your area you're pretty lucky. I'd do the same thing with the $2 bill as I would do with $1 bill, get rid of it. We need to stop printing dollar bills, they cost too much. CBO estimates we'd save $55 billion over 10 years switching to dollar coin. Stop printing bills, introduce the $2 coin with as much fanfare as the "It's so money" campaign of 2000 when the Sacagawea was introduced. (Anyone got a "Cherrios" Sacagawea?) I think a $2 coin would prove more popular than the $2 bill, which has never received a warm response from the American public. At least that was before people responded, LOL. I created this topic because I was sure it would get some interesting responses. I in fact don't care for Ronald Reagan and I don't want to see him on the $50 bill and I thought to prevent that and find momentum for the eliminating the $1 bill, this idea might work. I floated this notion to see the response. It's been an interesting discussion indeed. I'd like to return all our coinage to images of Liberty and other American symbols, preferably the Bald Eagle, especially for the reverses. My choice for a $2 coin would be reprising the obverse and reverse of of the Standing Liberty quarter. A gorgeous coin which ironically met its end when what was supposed to be a one-year circulating commemorative, the Washington quarter, proved so popular with the public that replaced the Standing Liberty. While I like Barber coinage and other eras when most small coins had the same obverse designs, I'd like variations, a mix of images like the Standing and Walking Liberty as well as in Bust or the Winged Liberty design of the " Mercury dime" |
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Moderator
United States
189603 Posts |
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The only way to make the switch to coins is to stop offering the dollar bill. True!  Quote:
The only painful part of this process is getting the house and senate to actually do it. True.  |
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Moderator
United States
189603 Posts |
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I created this topic because I was sure it would get some interesting responses. No problem there. It is interesting. Quote:
My guess they're all collected as novelty items. If they circulate in your area you're pretty lucky. There is also an effort by members of the community to document their spending. You can read it here... https://goccf.com/t/145947Quote:
We need to stop printing dollar bills, they cost too much. CBO estimates we'd save $55 billion over 10 years switching to dollar coin. Stop printing bills... Agreed. Quote:
...introduce the $2 coin with as much fanfare as the "It's so money" campaign of 2000 when the Sacagawea was introduced... I think a $2 coin would prove more popular than the $2 bill... You are probably right. The two dollar note is not as strong as the one dollar note, which has effectively eliminated any success for the one dollar coin). |
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Pillar of the Community
708 Posts |
The $2 bill would likely circulate if the $1 bill goes buh-bye, because, as I've said, when they were first talking about new hold colored dollar coins in the mid 1990s, they did MANY public opinion polls, and about 70%-80% or more said that they would turn to the $2 bill as their "paper alternative" to the dollar coin. This is why we should issue $2 coins at the same time we get rid of the $1 bill and get rid of the $2 bill as well, because, if the $2 bill circulates as much as the $1 bill does, instead of the dollar coin, are we really saving any money?
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Valued Member
United States
344 Posts |
Taking a page from the Canadian coins, I can image the nicknames already:
$1 coin - Oney
$2 coin - Ronny
Now if we had George W. Bush on the $2 coin, we could nickname it "Looney"
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Valued Member
United States
206 Posts |
OK, so here's a thought that I haven't seen put forth yet: why don't we resurrect the quarter eagle denomination? Obviously it wouldn't be made of gold, but I'm sure we come up with a distinctive color or design. There's just something strange about a $2 denomination. A $2.50 denomination seems more reasonable/logical (at least to my brain). We have quarter dollars, why not quarter eagles (as our monetary system did when it was conceived)? As a denomination, a $2 piece seems as strange as the short-lived 20-cent piece.
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Valued Member
United States
344 Posts |
I like that idea chetzler. In fact, Here's my idea.
Make these coins out of silver:
$50 contains 1.546901022 troy ounces
$20 contains 0.773450511 troy ounces
$10 contains 0.361695899 troy ounces
$5 contains 0.18084795 troy ounces
$2.50 contains 0.090423975 troy ounces
We could take this a step further and make the dollar and half-dollars out of nickel
$1.00 contains 1.546901022 troy ounces of nickel
$0.50 contains 0.773450511 troy ounces of nickel
The other fractional coins could be made out of copper:
$0.25 contains 0.773450511 troy ounces
$0.10 contains 0.309380204 troy ounces
$0.05 contains 0.154690102 troy ounces
$0.01 contains 0.077345051 troy ounces
But while we're at it, why not bring gold coins. We used to have the $500 and $1,000 bill.
$1,000 contains 0.361595788 troy ounces
$500 contains 0.18084795 troy ounces
$250 contains 0.077345051 troy ounces
$100 contains 0.036159579 troy ounces
Then we would have what we've been waiting for: Currency with something backing it. Hey maybe I should run for Congress.
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Replies: 72 / Views: 6,690 |
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Posted 08/05/2013 12:06 pm
