Should The BEP Offer Redesigned $1 Bills To Collectors?

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Author	Replies: 6 / Views: 1,398
Fox Pillar of the Community 708 Posts	Posted 12/07/2013 05:05 am I just have really been thinking about this lately. I know some people here, believe that we should eliminate the $1 bill in favor of the dollar coin, however, I was talking to a vending company guy last week, and I asked him "Do you think they will ever get rid of the $1 bill?" and he said "Honestly? No. People don't want that extra weight in their pocket" which would be a dumb excuse, seeing as we should either also have $2 bills or $2 coins, so that, with $1 coins and $2 bills we'd only have to carry one $1 coin, or two big coins if we had $1 and $2 coins. Anyway, I believe that, when the Meaningful Access redesign starts in 2020, the $1 bill should be included for numismatic items, where they still print current design $1 bills for general circulation, where they would also print a limited amount of redesigned colorized big head $1 bills along side them with collectors, including straps and bricks that people could pay a premium for, but still circulate them. Maybe the redesigned $1 bills could be like the current situation with the Kennedy half where collectors would only buy the new $1 bills to look for errors and then spend the rest, so that some new and some old $1 bills would circulate, and maybe after a while of people who have the case of having a new $1 bill, and needing an old $1 bill for a vending machine, it may cause it to be a pain to switch certain design $1 bills for ones the work in the vending machines, and "maybe" people will eventually reject $1 bills for $1 coins. But what that vending guy told me was also, that I would have a hard time selling halves on the public, seeing as they don't even want dollar coins, and I did tell him though, that many people are open to accepting halves and $2 bills over $1 bills, because they don't have a counterpart like the $1 bill has the dollar coin. Anyway, I would still like to see redesigned $1 bills after 2020 and also, ever other time they redesign the U.S. paper money. Ditto ion the $2 bill. Report this Post to the Staff

Libertad Pillar of the Community Canada 3692 Posts	Posted 12/07/2013 10:14 am The $1 will be around for as long as paper money is "cleaner" than alloyed and plated coins. Quarters and dimes look disgusting from the edges, the $1 coin discolors and rusts out, and the zincoln is pretty nasty. The coins are designed to be repulsive so that they don't get hoarded up and get spent into circulation. Report this Post to the Staff
DoubleEagle20 Pillar of the Community United States 1750 Posts	Posted 12/07/2013 10:34 am It's time for us to discontinue the $1 and $2 notes completely and go to coins. A small bimetallic $2 coin between the size of our 5 and 25 cent would be good. Get rid of the 1 cent and go to Canada's plated steel alloy for the 5 cent. I wouldn't mind seeing a polymer $500 note, either. Edited by DoubleEagle20 12/07/2013 10:37 am Report this Post to the Staff
westernsky Pillar of the Community United States 7646 Posts	Posted 12/07/2013 11:17 am If the government quit printing 1$ bills and quit minting cents they would need fewer union employees to do the remaining printing and minting jobs. Then you factor in the rag paper manufacturer losing half his business and the mining industry not having a place to sell their zinc and you end up with unhappy Congressmen. That is why the cent and the dollar bill ain't going away anytime soon. Report this Post to the Staff
The Bill Collector Valued Member United States 486 Posts	Posted 12/07/2013 11:27 am I have to agree with DoubleEagle20, but that would save money and that would make sense, the Govt. has been known to "not" care about saving money or making sense so it probably wont happen. Next, the BEP should NOT be in the business of making up so called collectors items and try an pedal them off as something that will increase in value, it's been proven long ago that "made up" collectors items will not increase in "value" the value on most every made up collectors item has always gone down, there are some exceptions but not many, and the few that have gone up a little is so small that it doesn't come close to a brake even. Regards Bill Collector The collector of real currency. Report this Post to the Staff
DoubleEagle20 Pillar of the Community United States 1750 Posts	Posted 12/07/2013 12:04 pm Even Jarden Zinc knows what's coming. They've licensed the Canadian multi-ply plated steel process. The 5 cent in plated steel makes sense but the 10 and 25 cent doesn't IMO. Our coins are 92 percent copper, unlike Canada's more valuable 99.9 pure nickel coins. I think Crane & Co realizes our next redesign of notes will be on polymer. Polymer notes just simply last longer and are much more secure. Edited by DoubleEagle20 12/07/2013 12:07 pm Report this Post to the Staff
Fox Pillar of the Community 708 Posts	Posted 12/07/2013 5:04 pm Quote: Even Jarden Zinc knows what's coming. They've licensed the Canadian multi-ply plated steel process. The 5 cent in plated steel makes sense but the 10 and 25 cent doesn't IMO. Our coins are 92 percent copper, unlike Canada's more valuable 99.9 pure nickel coins. Well, I read a testimony where the Royal Canadian Mint actually talked about how they made ALL of their coins, including their cent out of Multi-ply steel, before they discontinued it. Now their nickels, dimes, quarters, halves (yes, apparently Canada still makes halves too) and loonie and toonie out of the Multi-ply steel. But how do you know we are going to Canada's "Multi-ply steel coinage? And also, even if we decide we want to keep our half the same size, and keep our $2 coin the same size as the Canadian $2 coin, we could still do that, and make vending machines accept and dispense these two denominations, as all new hardware and software would be need to recognize, and deal with the new composition coins. Quote: A small bimetallic $2 coin between the size of our 5 and 25 cent would be good. Well then, if we eliminate the cent, how about a penny-sized copper colored nonagon shaped half, thicker than all other U.S. coins, that would work in vending machines, be lighter to carry than two quarters, and easy to distinguish by looks and touch? Quote: I think Crane & Co realizes our next redesign of notes will be on polymer. Polymer notes just simply last longer and are much more secure. Quote: I wouldn't mind seeing a polymer $500 note, either. How do you know we are going to polymer with our next currency redesign? I figured they would too, especially if they add a reissued $500 bill, and I hope they issue a $200 bill as well, but I think these things will likely happen in 2020 or beyond if they do. Also, I've heard rumors that, even if we go to polymer, Crane & Co. would be involved with the deal somehow. Report this Post to the Staff
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