$1 Notes

Everyone chases the all mighty dollar... unfortunately it might be the all mighty plastic everyone has to chases from now on. The day of the dollar and the coin are all but over. Hoard them all!!

This topic has been discussed quite a bit here and is just resurfacing.

More study is needed for those trying to make an educated decision of all the pros and cons as there are other issues behind this which do affect individuals on the street.

Eventually it would likely be more cost effective. But I believe it would take some time due to other circumstances such as higher cost handling, en masse, metal vs. paper. Amd, as also discussed earlier, the initial price increase on everything when the mindset becomes one of a dollar being only "pocket change." This, again was exactly what happened in Canada until the dollar became valueless enough to warrant a $2.00 coin being made.

Another thing to factor in is the amount of how much our dollar devalues over the years. By the time the savings are realized, the amount stated in today's money is not likely to be near near as large as it sounds now.

But until a generation passes where people have not had anything but dollar coins, I still believe (using Canada as a model) that the general populace will not like them. It took around that same amount of time for Canadians to start loving their Loonies. And the Loonie is now almost a national symbol of admiration for them.

So coercion by government eliminating paper will work. Its just a matter of whether you do not mind this kind of switch over. I come from, and miss, the days when the government - rightfully so- worked for us - not on us as they do nowadays.

Here they have done away with coin fed meters for parking and you have to phone up with credit cards. Its less convenient and discriminates against those who do not have a phone or a bank account.

Cash is still king, and I can't see that changing in the next 100 years (I just don't think that the public would tolerate such a breach of human rights as withdrawing their financial freedom to use cash) I personally use cash for 99% of my transactions and while cards/bank are good for some things I avoid plastic for all but major purchases.

If coins were withdrawn though it would not put the price up for collecting, it would go down... just look at stamps. Once a popular hobby it has lost its appeal and few newcomers to it means prices are down... the same would happen for numismatics.

At gas stations in most areas, you just use a credit card at the pump now.
At a kids place called Enchanted Castle you have to chanage you money into their tokens since that is all their machines take.
In many places you can get change in bills by inserting a credit card into a machine. Sort of like a ATM only in more places lately.
A freind of mine has a small vending machine company and he is now looking into changing most or all his into cash or credit cards.
If you really look around you will see more and more machines that will take credit cards.
All forms of cash are just doomed. Why would anyone want to run all over the World trying to figure out the monitary system in other countries when a simple piece of plastic will do all that.

The hold for gas is only $1, not $75; at least for my gas stations and on my card. I always thought it was higher, but I discovered this when my online account started showing holds and pending transactions.

Regardless, your other points are valid.

The hold is what is used to make sure that the card is valid before dispensing the gasoline. I think larger holds were used in the past to make sure the card would not go over the credit limit, but I think all cards now will allow one to exceed their limit (for a hefty fee, of course).

"What does it show about our country when we spend more to make each coin(penny and nickel) than their face value is actually worth and where both political sides argue about where to find extra cash to curb the budget "


I bring this up all the time.... Its a no brainer, too bad so is the government