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Are $2 Coins Viable In Usa?

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 Posted 12/21/2016  1:00 pm  Show Profile   Bookmark this reply Add trout1105 to your friends list
I can't really see any reason to keep the pretty much worthless 1c coin in circulation, Lets face it the coin itself is made out zinc which has a very limited lifespan anyway.
As for the $1 and $2 notes What can you actually buy with these now ?
In reality anything under $5 is small change and should be coinage instead of notes.
Yes coins do cost more to produce initially but as long as they are not made out of zinc they should be useful for many years as opposed to a paper note's limited lifespan and will prove to be more cost effective.
The savings for the US taxpayers would amount to Billions of dollars in a fairly short timespan.
The ONLY thing stopping this is an unfounded and unreasonable fear of "Change" and the lilly livered attitude of the elected politicians that lack the moral fortitude to impose these needed changes.
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 Posted 12/21/2016  2:59 pm  Show Profile   Bookmark this reply Add jbuck to your friends list

Quote:
As for the $1 and $2 notes What can you actually buy with these now ?
The dollar notes will buy what I could get for a dime when I was a kid.


Quote:
The ONLY thing stopping this is an unfounded and unreasonable fear of "Change" and the lilly livered attitude of the elected politicians that lack the moral fortitude to impose these needed changes.
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 Posted 12/21/2016  7:15 pm  Show Profile   Bookmark this reply Add PacoMartin to your friends list
Is there anything more inefficient than the Bureau of Engraving and Printing and the United States Mint run by the Treasurer of the United States?

a) Over 300 billion zinc pennies in 34 years.
b) Nickels that cost more than 5 cents to make
c) Fifty cent coins that are too heavy to be useful
d) Dollar coins that are sitting in warehouses.
e) Dollar bills by the tonne, that wear through quickly.
f) Two dollar bills that have 1.5 billion in circulation that are hoarded.
g) Fifty dollar bills that are way underutilized.
h) Massive production problems with the color c-note. Have you noticed that they only made 140.8 million of the 2013 series (Rios-Lew signatures) in the first half of FY2015 and then stopped making them completely.

What other department in the federal government can claim that most of their product is useless?
Edited by PacoMartin
12/21/2016 7:34 pm
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 Posted 12/21/2016  7:49 pm  Show Profile   Bookmark this reply Add Andrew99 to your friends list
Congress?
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 Posted 12/21/2016  7:55 pm  Show Profile   Bookmark this reply Add cuzzx to your friends list
Today I have around fifty dollars of folding money in my pocket.
If it were coins at one dollar , two and five dollar I would have lost my pants somewhere.

in other words I like this thing called folding money.
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 Posted 12/21/2016  8:44 pm  Show Profile   Bookmark this reply Add SpaceMaNy0 to your friends list
I strongly agree with Paco's point g. The 50 is a good looking bill too.

And cuzzx, there can be both. A $20 and a $10 paper with 3 or 4 $5 coins wouldn't be so bad.
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 Posted 12/21/2016  9:21 pm  Show Profile   Bookmark this reply Add trout1105 to your friends list

Quote:
Today I have around fifty dollars of folding money in my pocket.
If it were coins at one dollar , two and five dollar I would have lost my pants somewhere.


If anyone was stupid enough to carry $50 in change they probably deserve to loose their pants.
In Aus 1x $50 bill would do the job and if you spent a dollar of that you would end up with 3x notes 2x $20 and a $5 and 2x $2 coins that weigh in at a whopping 13.2g, In Canada the same would apply.

This BS excuse that the coins would be too heavy to carry around is pretty stupid and lame, I can assure you that I carry more than $50 around with me at any one time and I have never needed to wear a belt on my pants.
This is probably because I haven't got the 1c and $1/$2 notes to clog up my pockets with
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 Posted 12/22/2016  12:00 am  Show Profile   Bookmark this reply Add PacoMartin to your friends list
The loonie has gained iconic status within Canada, and is now regarded as a national symbol. Is the same true for the Australian coin? Or is it regarded in more prosaic terms.


Australian
$1 25.00 mm <3.0mm 9.00g Queen Elizabeth II 1984
$2 20.50 mm <3.2mm 6.60g Aboriginal elder 1988

Canadian
$1 26.50mm 1.75mm 6.27g Loonie 1987
$2 28.00mm 1.80mm 6.92g Polar Bear 1996

United States
$1 26.49mm 2.00mm 8.10g Sacagawea 2002
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 Posted 12/22/2016  01:56 am  Show Profile   Bookmark this reply Add Earle42 to your friends list

Quote:
As for the $1 and $2 notes What can you actually buy with these now ?

Maybe nothing in a big city, but they still can go a long way at a garage sale/flea market swap meet/Ham fest etc. At least the garage sales I go to (quite a few), prices get rounded to .25, .50 or 1.00 as the unwritten go-to standards.

As just one example, last summer I got two complete tap and die sets for 1.00 each at garage sales. A goose-neck fluorescent bulb desk lamp was also a dollar. I could goon, but won't.

I don't know if you are in a city, but something I have seen all my life (this is NOT a negative comment!) is city people tend to be so busy in their own, busy world that they don;t have a concept that life is very different in non-urban areas. There is a large world outside urban borders and it runs by a completely different set of operations.

@Trout

Quote:
The ONLY thing stopping this is an unfounded and unreasonable fear of "Change" and the lilly livered attitude of the elected politicians that lack the moral fortitude to impose these needed changes.


That's a pretty definitive statement about our government from someone who is literally from the other side of the world (in a great country I would love to visit!). Now if you grew up here and understand our culture to the depth needed to understand all the (American specific) ramifications of eliminating a bill, then that's a different story.

A lot of the entire issue has to do with Americans being proud, to a unique degree, of being able to have their personal preferences voted for by the people they elect to do so.

Americans have overwhelmingly said no to dollar coins, and I believe there are elected officials who realize stopping something this important to Americans as a whole would only serve to help shorten the length of that elected officials political career. Politicians have seen Americans reject the dollar coins many times over, and so realize that overwhelmingly, we don't want the option of using bills.

Americans are not going to adopt them en mass unless the government pulls a dictatorial move and forces them on us. Tyrannical actions are something many Americans perceive as being a very non-American way for the government to act. In a smaller way, the elimination of dollar bills reminds me of the current administrations coercion into their "healthcare" system. Elected officials are not looking for more reasons for Americans to be angry with them right now.


I agree the situation would be a moral dilemma if the American people wanted only coins, and yet Congress was playing favorites to businesses who profit from making paper bills.

And I know that people who want to get rid of the bills say the only reason we don't eliminate paper is b/c Congress actually is playing favorites to businesses. But I don't remember any actual data to back up the playing-favorites idea.

So I am asking - is there factual evidence to back the above idea? Or is it simply hearsay made out of frustration at wanting something badly enough to assume/fabricate the idea? I don't know.


Morality is not as issue also since:
1. The dollar amounts saved on paper do not match what we thought originally would be the tremendous savings,

2. Because the alleged savings were only looking at what the government said it would save on taxpayer money without figuring in the cost inevitable cost hikes (as per previous post in this thread and also from witnessing this very thing in Canada when the Loonie came out), and since

3. American elected officials are, to a unique degree, supposed to do the will of the American people (exactly the opposite of eliminating the bills) ,

Where is the lack of "morality?" What am I missing here?

Another thing I am genuinely interested, and please see this as the honest, friendly question it is meant to be - typing does not allow me to express my total lack of negative attitude - why does this matter so much to you?

If you have roots here, your interest makes sense to me. If not, I find it interesting someone from so far away cares about what we use for money over here. I am not sure under what circumstances I would be as interested in another country's choices of specie/currency.





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 Posted 12/22/2016  03:44 am  Show Profile   Check spru's eBay Listings Bookmark this reply Add spru to your friends list
@swamperbob First, I love your sasquatch signature, but I think he COULD, but wouldn't and would eat it.

I think there should be some input on the Treasury. It is not an official gov't organization and makes profits from loaning currency to the country. I'm sorry they lose money in minting/printing currency but that is not my concern. They will get it back with interest. Double profit!

As far as coins vs. notes, I would rather have coins because they DO actually have an intrinsic value compared to paper despite whatever fancy printing techniques are used.

I know that the US has a massive gold hoard and I'm left wondering what it's for. I guess it's for 1000 years of minting commems that retail for multiples above melt? Maybe that's how they are paying the principle/interest on Treasury loans.

I like coins because they are actual metal with value. Until we start tracking paper as a commodity, the argument seems moot.

Maybe more coins will create a new market for products to hold your coins (if the weight is too cumbersome) as you go about and improve the eceonomy with a new, marketable solution.
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 Posted 12/22/2016  05:15 am  Show Profile   Bookmark this reply Add trout1105 to your friends list
I have NO idea why the penny and the $1 and $2 bills are SO important to some Americans.
Maybe that pocket full of penny's and that thick $20 wad of dollar bills in the wallet gives some people a false sense of Affluence, I don't know.
What I do know is that they are outdated and expensive to produce.
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 Posted 12/22/2016  08:10 am  Show Profile   Bookmark this reply Add PacoMartin to your friends list
Well, Australia is certainly the world leader in adopting the fifty. USA is low on the list, but Britain is even lower than the USA.

Twenties outnumbers fifties
8.1 to 1 in UK (20 GBP = 34.21 AUD
5.4 to 1 in USA
3.9 to 1 in Canada
1.7 to 1 in Switzerland

Fifties outnumbers twenties
2.4 to 1 in European Union
3.9 to 1 in Australia

The USA is ultra conservative and doesn't change banknotes or coins very easily. They were the last country to add color to banknotes, the last country to put a woman on a banknote, they will probably be the last to adopt polymer, and obviously they are insanely addicted to the penny.

Edited by PacoMartin
12/22/2016 08:12 am
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 Posted 12/22/2016  09:53 am  Show Profile   Bookmark this reply Add Lucky Cuss to your friends list
Quote:

Quote:
As for the $1 and $2 notes What can you actually buy with these now ?



Quote:
Maybe nothing in a big city, but they still can go a long way at a garage sale/flea market swap meet/Ham fest etc. At least the garage sales I go to (quite a few), prices get rounded to .25, .50 or 1.00 as the unwritten go-to standards.



This is absolutely true. Commerce is conducted on a largely different basis in rural areas such as where I live. And, in fact, even in not too far-off Tucson (a city with a population actually larger than that of Pittsburgh, Cleveland, Atlanta, New Orleans, and Miami to name but a few) this is to a significant degree also so. There are still many entire regions in the U.S. where the practical economy resembles the urban ones of New York City, Chicago, San Francisco, or the District of Columbia not in the least.


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 Posted 12/22/2016  11:26 am  Show Profile   Bookmark this reply Add jbuck to your friends list
Trout, I love you, man!

Earle, as usual, your priorities are at sixes and sevens, but I still love you, too (even though you are wrong).


It seems this thread has gotten a bit political, geopolitical even. I am not shocked at all. With that, it is time to close it up. Let us cool off a bit and wait for the next poor sap to start a similar topic.

Oh, as a moderator, I evoke some privilege...

Kill the cent!
Kill the nickel!
Kill the one dollar note!

SAVE FERRIS!
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