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 Replies: 26 / Views: 5,550 |
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Pillar of the Community
 United States
4870 Posts |
I don't like the composition the mint uses for the dollar coins. They turn real ugly real fast. I also think they should be reeded and have the date/mm on the obverse where it belongs.
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Pillar of the Community
United States
1479 Posts |
The last two boxes I purchased were packed with Susan B's (mostly all AU) and 20% BU of a wide range from 2000 -2009. Five or six (SAC's) would go 67. Only one was the 1979 wide rim variety in about MS-62.
Then I started to spend them, that was a social experiment unto itself. Not one person under 30 knew they were actual currency and I had to explain to kindly examine the reverse, fine as long as I only spent 7-10. Manager said they wouldn't take any more? Really I said.
Bought 2 pairs of shoes for $155.00 at Ross's and paid all in musty brown Sac's, I had to pretty much give the spiel and a history lesson.
With the other 1,800 I took to Umpqua Bank were they charged me 4% admin fee yes I said that right. Immediately after the transaction I closed my account.
I stay away from the Sac's now their way to much hassle for me. Two unopened boxes looked cool though. Oh and get this, 4 of them were Thailand coins and one large British penny. In done with them things.
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Bedrock of the Community
United States
10044 Posts |
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I don't really understand why people are complaining about having to walk around with dollar coins in their pockets. Carrying around 3 or 4 dollar coins is no move inconvenient than carrying around 3 or 4 quarters. Personally I'd like to have both a $1 and $2 coin, similar to what Canada has done. Then you could carry 3 coins worth a total of $5.
I also don't understand folks who refer to the NA dollars as "politically correct". It's not as if we haven't put Native Americans on our coins before, after all. Personally I think the NA coins are absolutely gorgeous and it's a crying shame that most Americans have probably not seen one in years.
Size and design have nothing to do with the dollar coin's failure to circulate. It's the dollar bill. For a couple years on this forum, this dollar coin issue has been thoroughly investigated from every aspect - alleged savings, etc. This research was a project of mine in which I continually asked for more input and review/legitimate critique of where the data was leading. I also repeatedly said that whether dollars or coins were the best option for the Joe on the street, I would like to see that option used. The data does not hold up to the alleged reports of savings and, as is typical, the average Joe ends up with more out of pocket expenses through secondary channels of implementing metal. But the politicians get to polish their name tags by saying they have saved taxpayer money - which is a hypothetical bunch of words on paper that the average Joe is not benefited by anyway since taxes keep being raised, and whatever tax dollars might have been saved are never seen by the average Joe (review governmental waste). The average man actually ends up having more out of pocket expenses for things he already uses/pays for as costs of services rise and the psychological affect of the dollar now just being pocket change is exploited by businesses who raise prices accordingly. in the end the following thread was made b/c the data showed the coins were not we (note that word) all thought they would be. Other options were discussed. The long project resulted in data/numbers showing there is no factual legitimacy to claims (they also were not made for deceit) to the coins being a good thing overall for America. People wishing the bill's demise did not give a direct answer (that addresses the issue being asked) in the eight pages of the following thread. In the end, the logical assumption from those pages (and this is discussed in detail) is stated that the demise of the bill is called for by the people who simply have an emotional desire to see their preference and have not ever had the notion to consider the impact it would make on others. I also will gladly state here that I have been guilty of this very thing myself during my life - just as everyone else. Its all here - and the search option can be used to find the threads which have the numbers etc. (although some are re-re-restated in the linked thread). Someone wanting to know where the data led can research it now for themselves on CCF. If something else not thought of can be added - this is good also. http://goccf.com/t/276283 |
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Moderator
 United States
189340 Posts |
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The data does not hold up to the alleged reports of savings and, as is typical, the average Joe ends up with more out of pocket expenses through secondary channels of implementing metal.[citation needed] You say something like this in every dollar coin topic and have still not provided your source for this claim.  |
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Valued Member
United States
406 Posts |
The smallest paper denomination in Japan is the 1000 Yen bill, equivalent (roughly) to $10.00. The largest coin in Japan is the 500 yen coin, equivalent (roughly) to $5.00. (Looking online today, a dollar is equivalent to approx. 112 yen)
In the EU, the smallest paper denomination is the 5 Euro note, the largest coin denomination is the 2 Euro coin, there is also a 1 Euro coin. Right now a dollar is equivalent to 0.85 Euros.
Canada, of course, has $1 and $2 coins.
I realize that these are not exact comparisons and that exchange rates vary daily. My point is that these governmental agencies have coins that take the basic place in their economies that is analogous to that occupied by the $1 bill in the US (and really the $5 bill in the case of Japan).
If Canada, Japan, and the EU can all introduce dollar coins (or the equivalent) successfully, why can't the US?
Edited by ljenkins990
11/15/2017 5:20 pm
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Moderator
United States
189340 Posts |
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If Canada, Japan, and the EU can all introduce dollar coins (or the equivalent) successfully, why can't the US? Because people are stubborn? There really is no excuse. |
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Pillar of the Community
United States
1068 Posts |
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Then I started to spend them, that was a social experiment unto itself. Not one person under 30 knew they were actual currency and I had to explain to kindly examine the reverse, fine as long as I only spent 7-10. Manager said they wouldn't take any more? Really I said.
Bought 2 pairs of shoes for $155.00 at Ross's and paid all in musty brown Sac's, I had to pretty much give the spiel and a history lesson. I use my dollar coins to mostly buy newspapers on Sunday and for tips and most young people I notice know what they are. I have more issues with spending $2 bills than I do with dollar coins. But, I lay the blame at the feet of our lousy public education system for that. |
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Bedrock of the Community
United States
20753 Posts |
As said so many times such arguments are a waste of time. I suspect our government realizes that soon enough all types of coins and currency will be outdated due to credit and debit cards. Even going to other countries will be so much easier if all transactions are done via computer systems. Why bother now with a Dollar coin when soon enough only plastic will rule.
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Pillar of the Community
Sweden
1078 Posts |
Because despite it seems like the near future, there's still time inbetween that. Everything isn't becoming digital overnight, so it's better to make it easier for the meantime. There's no schedule of when everything's becoming digital, and therefore we need to focus on the present. Despite Sweden's cashlessness, it isn't absolute and we did a coin revamp last year. These coins are definitely in use despite most people choosing other payment methods. Cash isn't dead, and it isn't going to be in the near future either whether you like it or not.
Edited by X2an
11/16/2017 09:58 am
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Pillar of the Community
United States
998 Posts |
What compounds all this is the purchasing power of the coins and dollars in question. If the US Dollar was at the same relative rate it was in the early 60's before the removal of silver and half dollars from everyday use then the argument might be less of an issue.
The US dollar today is worth roughly a 1960 dime. If they had remained constant these days, even with no coins larger than a quarter in everyday use, we likely would not be having this discussion. Imagine if the US were to revalue the currency by a factor of 10 and erase 50 or 60 years of inflation. The new dollar would by 4 or 5 gallons of gas or milk, candy bars would be a nickle and a penny would actually be worth something.
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Moderator
United States
189340 Posts |
Revaluing the dollar requires a lot more work: all new money, markteting, education, trade-in program with deadlines, etc. Just kill the cent, nickel, and one dollar note. With the dime now moving to the bottom, we virtually shifted the decimal point. The dollar coin becomes the new dime. Bring in a redesigned half dollar for your new nickel and you might even be able to get rid of the quarter when the ATB ends. |
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Replies: 26 / Views: 5,550 |
First Page
Posted 11/13/2017 2:19 pm
