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 Replies: 39 / Views: 4,621 |
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Pillar of the Community
United States
1796 Posts |
The dollar *is* pocket change. All of our coins need at *least* an extra zero on the end of their denomination to be *useful* in commerce anymore. Then they'd be on parity with what they were worth 60 years ago (when no one complained about coins and used them everyday). And when you think about that, it means that a dollar coin really should be no larger than a dime. Where's that old infographic? Here it is:  I support a dollar coin on principle as the number of shredded $1 bills we throw in landfills every year is costing our government millions, and is a huge unnecessary waste. As it stands, it costs $2 to circulate a $1 bill as long as a $1 coin can last (which only costs 20¢). Imagine the savings if they were more properly sized? Edited by SteveCaruso
06/08/2013 10:42 pm
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Pillar of the Community
 708 Posts |
Dang it! I'd like to see that "infographic" with halves being used in the place of the quarters. Made for circulation anymore or not. (-;
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Moderator
 United States
188323 Posts |
I would love for this to pass. I would love it more if the circulating cent went away as well.  |
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Pillar of the Community
United States
1903 Posts |
Howdy all...am back from a LONG hiatus...missed all of you! I read someone on here wishes we went to a government cash card!? Geeeeeee....do you really want the government knowing about every dime you have? Creating that would INSTANTLY create a huge black market and barter system so that people could keep their wealth off the government's radar. Bad bad bad idea
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Bedrock of the Community
United States
19949 Posts |
It's taken far too long. Stop wasting OUR money and get rid of the $1 note and the cent. Both of them have outlived their usefulness.
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Pillar of the Community
United States
561 Posts |
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Pillar of the Community
Canada
3692 Posts |
...harder for a Hacker to counterfeit...
And the weight issue so commonly brought up is NOT an issue.
The Canadian and Australian dollars are not mere pocket change; they frequently are on par with the US dollar and sometimes go higher. The British have a one-pound coin, and there are Euro coins.
If these coins were the size of dimes you'd all be complaining that they're too light! There's no pleasing you guys. Take it from me, that $1 and $2 coins are not heavy and you don't go about your daily life with 50 big coins in your pocket unless you're doing your laundry. The $1 and $2 coins are even changed in alloy so they are even lighter now. I think it's stubbornness and not weight that is the issue. I think that you all should use up all of your money ($1 and $2 bills) until they are rags and then stop printing them.
And let me just add that there are billions of these coins just sitting idly losing out to inflation instead of functioning in society. The problem is in the distribution of these coins to where they precisely needed. Couldn't the BEP take distribution information from $1 bills and carry it onto $1 coins? Supply the areas that demand the cash and bring over extras to make it worth the trip if freighting is an issue.
Edited by Libertad
06/10/2013 8:54 pm
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Pillar of the Community
Canada
2805 Posts |
I'd really enjoy finding American small dollars in my rolls, no matter how much undue pocket wear and public rebellion will be caused by the government forcing the public to use the dollar coins (presumably at gunpoint).
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Bedrock of the Community
13014 Posts |
Quote:
The Canadian and Australian dollars are not mere pocket change; they frequently are on par with the US dollar and sometimes go higher. The British have a one-pound coin, and there are Euro coins. It wasnt meant in the sense that theyre a lot weaker than other currencies. What was meant was that were accustomed to change not being worth much while bills are more valuable. By switching it to the coin subconsciously you make the person think its worth less since theyre conditioned to view pocket change as pocket change. |
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Pillar of the Community
United States
561 Posts |
While I agree with what you are saying basebal21 I think it is more mental than actual. I was checking the contents of my wallet this morning as I was getting in my truck and all I had on me was three $1 bills. My thought "Damn, I don't have any money today!" So while I agree people view change as less valuable than paper bills if it doesn't have at least a 5 on it, it should be viewed as "pocket change".
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Bedrock of the Community
13014 Posts |
Marc I completely agree. To me a dollar is a dollar no matter what form it comes in. I could see how some people would view it as less, likely someone who money burns a hole through their pocket. I would rethink my stance if the dollar as a coin caused prices to rise. Youre spot on though that anything less than a 5 now is really pocket change. Having only a few ones would make me think I hope I dont need emergency cash today. You cant even get a 20 oz bottle of soda out of a vending machine for a dollar anymore.
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Bedrock of the Community
 United States
12820 Posts |
Totally mental...in at least two ways. The big complaint that I hear most frequently of "I don't want to carry $10 worth of coins in my pocket" generally holds no water. If you're carrying around $10+ of coins in your pocket, you're doing it wrong. How often does anyone have 10 paper singles in their pocket/wallet/purse? Rarely. If you find yourself in that situation, you're likely to "color up" to larger bills ASAP (as has been previously suggested in this thread). And even $10 of golden dollars isn't really all that big of a deal. 81 grams or roughly 3 oz. They'd probably end up in your dashboard somewhere anyway, just like nickels, dimes, and cents do now. Now as far as physical money instruments disappearing in favor of cashless transactions, that would probably take decades to happen. As has already been written, people value anonymity for certain types of transactions and that's never going to change. And that anonymity currently requires a cash transaction. Also I'm sure there would be issues with transacting with lesser-developed countries. And let's not forget about us collectors! We need something to collect and not all of us can afford the ancient stuff. Sadly, given our Congress and some of the more pressing agenda items, I don't think that much will change in the next 10 years, but one can hope.... personally I would like to see: o cent discontinued completely ASAP (maybe with a well-deserved ceremony / collector release for the Lincolns that have been minted for over a century!) o nickel seriously considered for discontinuation, but that would likely require killing the quarter too (and possibly going to a 20-cent piece). o re-introduction of the half dollar coin into circulation. o paper dollar discontinued and replaced with dollar coin o two-dollar coin minted along with ramped up production of two-dollar paper bill (gotta save those Cranes I suppose). Yes, this seems silly but no sillier than minting dollar coins at the same time as printing dollar bills. I'll add that I am not in favor of switching to steel coinage, but I don't really have a leg to stand on there. Except for it makes no sense to switch cents and nickels to steel. At this point in history they'll always be losers no matter their composition (I say that even though I love collecting them and will always and will continue to do so if they are steel in the future). A guy can dream!  |
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Bedrock of the Community
United States
17884 Posts |
Quote:
And let me just add that there are billions of these coins just sitting idly losing out to inflation instead of functioning in society. The problem is in the distribution of these coins to where they precisely needed. Couldn't the BEP take distribution information from $1 bills and carry it onto $1 coins? Supply the areas that demand the cash and bring over extras to make it worth the trip if freighting is an issue. Distribution isn't really a problem. Discontinue the note and as they wear out and can't be replaced distribution of the coins will take care of itself. As the banks try and order the dollar bills that are no longer available they will receive dollar coins and two dollar bills. Since that is all they get, that is what the banks will give out to their customers. And they will circulate. Quote:
o two-dollar coin minted along with ramped up production of two-dollar paper bill (gotta save those Cranes I suppose). Yes, this seems silly but no sillier than minting dollar coins at the same time as printing dollar bills. That would be a mistake. You would just be repeating the error we currently are doing with the dollar coin. The twos would circulate while the two dollar coins would accumulate in storage. Forget the two dollar coin for now and just ramp up the two dollar notes. Since people DO prefer to use paper the twos WILL circulate and no one will ever have to receive more than one dollar coin in any transaction. This avoids the "coins weigh too much" problem. Especially since any time they have two they can swap them for a note. Then in say five to ten years THEN you can introduce a two dollar coin, but this time eliminate the two dollar note at the same time and ramp up the fives. |
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Pillar of the Community
United States
1745 Posts |
I'm all for it and was surprised to see my former congressman Tim Penny (D-Minn) as co-chair. He has a lot of common cents. Now, if he would tackle his namesake, we would be even better off.
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Pillar of the Community
United States
561 Posts |
I like what you did there The_Duke! Very clever!  |
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Replies: 39 / Views: 4,621 |
First Page
Posted 06/08/2013 10:53 pm
