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 Replies: 17 / Views: 3,197 |
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Moderator
 United States
189837 Posts |
nalaberong!  kanga  A fifty cent note? Epic fail! 
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Bedrock of the Community
Australia
21788 Posts |
There are lots of vending machines in Australia that accept polymer (plastic) notes.
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Bedrock of the Community
United States
17884 Posts |
If the dollar note is axed I think the dollar coin supplies will be drawn down fairly quickly and they will go back into circulation production. Two dollar production will also increase which will slow the dollar coindraw/production but not stop it. The halves I still se as a dead issue. It is a large bulky coin that has no advantage over two quarters. And the quarters do have an advantage. They can be used for smaller purchases without having to get back a lot of change. If it was made smaller and lighter then it would have an advantage over two quarters and MIGHT circulate once more.
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Pillar of the Community
Canada
2805 Posts |
The nickel will not be profitable. The dirt-cheap MPPS (Multi-Ply Plated Steel) Canadian nickel still runs anywhere from 7 to 11 cents based on distribution costs - even the dime should be made of aluminium.
Let the panickers melt down their 4.5-cent nickels now in yet another wave of anti-government warbling, and then forget the denomination entirely.
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Pillar of the Community
United States
2273 Posts |
They'll need to ramp up dollar coin production even before the paper bill is withdrawn. The number they'll need to make is dependent primarily on how many $2 can be placed into commerce. If the banks refuse to issue the $2 note there simply aren't enough coins in existence to take the place of the $1 bill.
Withdrawl of the note would cause as many as 10 billion quarters to flow back to the FED.
Time don't fly, it bounds and leaps.
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Bedrock of the Community
United States
20753 Posts |
I suspect the government is procratinating on doing anything new with our monitary system for now. They possibly forsee the end of our entire monitary system soon enough. As cross country and intercontinental trading increases, a true universal monitary system is going to become a necessity. The computerization with more usage of credit and debit cards is a much better method for usage in comerse in the near future therefore eliminating all, what is now called, cash. OR everything will soon become a type of paper money system with, as already stated, $.50 cent notes. Picture a paper Cent, Nickel, Dime all the way to the dollar. Or begin making currency that is changable. By that I mean sort of a computerized chip inside a paper type currency that allows someone to pay $3.74 for something, it then gets put into a machine that deducts that from a preset amount. Or just go back to the bartering system. No cash. No credit or debit cards. Just I give you a sweater and you give me a dozen eggs. And here is something to think about. Did you know that there are 291 ways to make change for a dollar?  |
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Forum Dad
United States
24183 Posts |
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They'll need to ramp up dollar coin production even before the paper bill is withdrawn. You know there's over a billion in storage right? |
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Pillar of the Community
United States
2734 Posts |
Replacing the $1 note with a high-volume-production $2 note makes sense for all reasons, and it would give $1 coins a reason to circulate.
The Half-Dollar has been NIFC since 2002, and should stay that way.
Its size does make a good base for commemoratives, if not circulating coins...
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Valued Member
United States
446 Posts |
The best way to get dollar coins to circulate is for the government to sell them at 90 cents each.
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Bedrock of the Community
13014 Posts |
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The best way to get dollar coins to circulate is for the government to sell them at 90 cents each. Aside from the fact that completely cheapens and devalues your money thats really only the best way to make sure they end up constantly being deposited at banks. When they started the dollar coins you could order boxes with free shipping to try and get them circulating. People figured out ordering the boxes with a credit card that gets cash back was a way for them to make money and would just keep ordering and ordering dumping them at the bank to get the free money. |
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Valued Member
United States
446 Posts |
Well that would be accelerating the inevitable, and only last until merchants wise up and raise prices.
Personally, I'd rather them be melted down and recycled.
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Bedrock of the Community
United Kingdom
18014 Posts |
There are plenty of circulating coins elsewhere in the world that are of similar size to the US half-dollar - examples include the Australian 50c and the French Polynesia 50 francs. The UK £2 coin is only slightly smaller than the half-dollar (but has a much greater purchasing power). Several European countries had coins about the size of the half-dollar until the introduction of the Euro in 2002. When did the half-dollar disappear from everyday circulation? I've seen old vending machines in museums with slots for them, and I've seen some fairly worn Walking Liberty and Franklin halves that must have been in use for quite a few years... |
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Bedrock of the Community
13014 Posts |
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When did the half-dollar disappear from everyday circulation? Probably the 60s but at least since the 80s when they were more of a rare find than an every day occurrence. Its been quite a while. Once they got rid of silver in coins the old coins started to get hoarded especially come the 80s when the price of silver ran up. But also being a Kennedy half people hoarded that because of what happened. The fatal flaw to them that numbered their days was really when they left the Kennedy half as the only "circulating" coins with silver still in them for the better part of a decade. |
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Bedrock of the Community
United States
20753 Posts |
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When they started the dollar coins you could order boxes with free shipping to try and get them circulating. People figured out ordering the boxes with a credit card that gets cash back was a way for them to make money and would just keep ordering and ordering dumping them at the bank to get the free money. WOW, now why didn't I think of that one. With a BOA credit card I would get 1% back on all purchases. Unfortuately they now charge for postage and shipping. I missed out on that one. |
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Pillar of the Community
United States
2273 Posts |
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You know there's over a billion in storage right? If I did the math right there are over 5 billion dollar bills in circulation. The government makes another 17,000,000 every day or to lok at it anpother way they are wasting about a million dollars a day printing a note that drags down the economy by interfering with commerce. They could easily afford to give everyone at Crane Paper a million dollars to stay home and we'd all be better off. If the change-over were done properly it wouldn't be all that disruptive. The two dollar bill would ease the transition in several ways. A zinc nickel would be a huge mistake though. It would result in several deaths a year and would not save any money. The nickel should be aluminum or plastic and then have its size reduced after a couple years and everyone is used to the new system. Time don't fly, it bounds and leaps.
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Replies: 17 / Views: 3,197 |
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Posted 09/26/2013 11:45 am
