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Should The Mint Stop Making Dollar Bills And Switch To Dollar Coins?

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Jadey's Avatar
United States
900 Posts
 Posted 11/24/2018  08:06 am  Show Profile   Bookmark this reply Add Jadey to your friends list Get a Link to this Reply
@jbuck Call me Captain Obvious, but this isn't exactly an unbiased forum for such a poll result.
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Bryan78's Avatar
United States
1068 Posts
 Posted 11/24/2018  4:50 pm  Show Profile   Bookmark this reply Add Bryan78 to your friends list Get a Link to this Reply
How many times this year has this dollar bill/coin question been asked?

My thoughts:

Eliminate the following,

Cent
Nickel
Dollar Bill

Bring Back and Circulate the following,

$2 Bill (in bigger numbers)
Kennedy half dollar
Dollar Coins
Valued Member
United States
110 Posts
 Posted 11/24/2018  5:10 pm  Show Profile   Bookmark this reply Add pocketchange2 to your friends list Get a Link to this Reply
I had eight one dollar bills in my wallet this morning.
Why would anybody want to carry around eight Ike or SBA dollar coins all day in their pocket?

"What's in your wallet ?"

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MisterJ616's Avatar
United States
39 Posts
 Posted 11/25/2018  12:08 am  Show Profile   Bookmark this reply Add MisterJ616 to your friends list Get a Link to this Reply
My thoughts on the free market deciding, would be to make the coins from real metals again even if the value of the metal was only a percentage of the coins value and circulate that. If I held hard currency that had real value in a good or bad economy, then I would definitely choose the silver in my pocket versus paper issued by a private bank. Just my Two Cents.
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ty88ty2's Avatar
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772 Posts
 Posted 11/25/2018  12:43 am  Show Profile   Bookmark this reply Add ty88ty2 to your friends list Get a Link to this Reply

Quote:
Why would anybody want to carry around eight Ike or SBA dollar coins all day in their pocket?


I usually have a stack of dollar coins and halves on my desk. When I go places, I grab a bunch and put them in the car. I take them out as I need them throughout the day. Saves carrying them all at once and it isn't exactly rocket science either.
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ratman4762's Avatar
United States
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 Posted 11/25/2018  12:48 am  Show Profile   Bookmark this reply Add ratman4762 to your friends list Get a Link to this Reply

Quote:
Why would anybody want to carry around eight Ike or SBA dollar coins all day in their pocket?

I would think anybody that went by "Pocketchange" otherwise they would go by "Walletpaper"
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basebal21's Avatar
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 Posted 11/25/2018  01:01 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
My thoughts on the free market deciding, would be to make the coins from real metals again even if the value of the metal was only a percentage of the coins value and circulate that. If I held hard currency that had real value in a good or bad economy, then I would definitely choose the silver in my pocket versus paper issued by a private bank. Just my Two Cents.


You have money with real value in your pocket it's called the USD. Governments give money their value which is backed by it's ability and it's military power.

If the government fell apart PM's would hold no value. Medicine, guns, ammo, food, water, fire starters, ect would be what had the value. Alcohol and tobacco would actually have more value than silver or gold in a lawless environment.

Silver and gold aren't going to be circulation coins again, changing that was a great decision
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jbuck's Avatar
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 Posted 11/25/2018  01:32 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
@jbuck Call me Captain Obvious, but this isn't exactly an unbiased forum for such a poll result.
Past polls seemed to be more evenly split.


Quote:
Why would anybody want to carry around eight Ike or SBA dollar coins all day in their pocket?
If you have more than one dollar note or coin at a time you are doing it wrong. The two dollar note waves at you!

More than four? Really wrong!


Quote:
Silver and gold aren't going to be circulation coins again, changing that was a great decision
Agreed!
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Conder101's Avatar
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 Posted 11/25/2018  10:42 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
make the coins from real metals again even if the value of the metal was only a percentage of the coins value and circulate that.

You haven't considered the size the coins would be. At full value a half dollar would be the size of the old 3 cent silver pieces. And that's for a half dollar. Imagine what the quarters and dimes would be like. And as I said that would be if they have their full value or silver. Since they wouldn't want them hoarded or melted so say they made them with half their intrinsic value now they are even smaller. You could alloy them with copper or copper nickel to bring them back up to size, and you now have a .016 fine "silver" coin.
Edited by Conder101
11/25/2018 10:42 am
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 Posted 11/25/2018  11:13 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
I may be in the minority here, but I don't carry cash anymore, or a wallet. I have a $20 bill and a check as backup money in my phone case, and I pay for everything with a credit card. Literally everything. I'd say I use cash or a check maybe once a month, and I know a lot of people who do the same. So, I would never carry a dollar coin.

Same for me.
And asking this type of question on a coin forum is like asking if you like animals on an Animal forum.
Or asking if you like guns on the Henry Rifle forum.
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MisterJ616's Avatar
United States
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 Posted 11/25/2018  2:42 pm  Show Profile   Bookmark this reply Add MisterJ616 to your friends list Get a Link to this Reply
I was not trying to make a political statement and would like to say that I do support coinage. About the sizing reply I could extend the conversation a bit if it isn't off topic. I would possibly see a one ounce silver coin being a hundred dollars down to 1/10 ounce being 10 dollars and maybe copper for denominations below that. Gold could maybe be $4000 for a one ounce coin. By keeping the value high versus the intrinsic value you would have an equilibrium (maybe wrong word here) between USD and intrinsic value. Call it money with some underlying security. This is only an opinion and just something that I have put only a little thought into.
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basebal21's Avatar
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 Posted 11/25/2018  11:04 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
I would possibly see a one ounce silver coin being a hundred dollars down to 1/10 ounce being 10 dollars and maybe copper for denominations below that. Gold could maybe be $4000 for a one ounce coin. By keeping the value high versus the intrinsic value you would have an equilibrium (maybe wrong word here) between USD and intrinsic value. Call it money with some underlying security.


That would destroy the US economy in a matter of months. Faking coins that can be used in commerce is easy, if you have 4000 dollar coins and 100 dollar coins that get used everyday it will take about a week before several other countries are pounding those out as fast as they can and they absolutely would fool 99+% of people
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jst1dreamr's Avatar
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509 Posts
 Posted 11/26/2018  12:26 am  Show Profile   Bookmark this reply Add jst1dreamr to your friends list Get a Link to this Reply
with basebal21

at $4000 they could counterfit them using real gold and still make a killing.
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jbuck's Avatar
United States
188213 Posts
 Posted 11/26/2018  09:47 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
There is not enough precious metal in the world to make enough of these proposed 100 to 4000 dollar coins to circulate, which they would not do (because of their precious metal content) unless (maybe) it was the only option. That is, eliminate all paper. Even then, I think it would just encourage everyone to use payment cards. Gresham's law.
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MisterJ616's Avatar
United States
39 Posts
 Posted 11/26/2018  11:26 am  Show Profile   Bookmark this reply Add MisterJ616 to your friends list Get a Link to this Reply
I appreciate everyone's feedback to my comment as I was thinking out loud and got some good counterpoints. I don't know what would be best, but I think that I might research this topic more.
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