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 Replies: 17 / Views: 1,721 |
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Valued Member
United States
193 Posts |
Interesting subject. I really hate change in my pocket, it's either in my desk drawer at work, cupholder in the car, or cigar box at home. Maybe I'd get used to walking around with a few clad "double eagles"  in my pocket. Given the lifespan of a coin versus paper currency, from a strict fiscal government policy it would seem that coins would be a better way to approach the smaller denominations. Paper currency $1.00 - 18 months $10.00 - 18 months $5.00 - 15 months $20.00 24 months Coin - 25 years Is it easier to forge a paper $20 or a clad "Double Eagle" |
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Pillar of the Community
United States
1208 Posts |
Quote:
There are similar laws preventing them making fractional
currency, passed over a century ago and still in force. Maybe the Fed can't print fractional currency, but the USPS can. Stamps have often been used for currency in emergency... and some fractional currency has originated and/or been backed by USPS. I hate change too. Which is funny because I am against abolishing the penny!  If the US ever abolished small currency, I would be in favor of private notes circulating. Some enterprise would come up with coupons, trade certificates, etc... Or maybe we could actually trade in USPS stamps of the 1 or 2 dollar value. |
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Pillar of the Community
United States
1208 Posts |
Quote:
When the now-disgraced Canadian businessman Conrad Black
came here to try to buy our newspapers and TV stations,
he proved his ignorance of things Australian when he tried
to tip the hotel doorman with a paper $2 note. It even
made the news. I have no idea who you're speaking of, or the incident... However, it seems rather 'uppity' to refuse a tip just because it happens to be in currency rather than coin. ? That's like saying "I am used to clad coins, so when the man tried to tip me with a silver coin, it showed just how ignorant he was."... Snobby to the 'Nth degree! |
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Pillar of the Community
United States
2734 Posts |
Quote:
Sap: "He proved his ignorance of things Australian when he tried to tip the hotel doorman with a paper $2 note. It even made the news." Wouldn't an Aussie paper $2 note be somewhat of a 'collectible' nowadays? So wouldn't that be a 'nicer' tip than just your average everyday AU$2 coin? (assuming that the note is still legal tender!) At the last big coin show I was at, there were dealers giving change back to customers with rare-in-circulation yet 'common' coins and currency, such as clad JFK Half Dollars, uncirculated Golden Dollar coins, and U.S. $2 notes. I didn't hear anyone say they wanted common $1 bills instead!  I use the Golden Dollar coins regularly, and often I end up getting BU coins from the Denver Mint (at face value) for spending use, simply because my credit union doesn't order Dollar coins! (I just got my first 50 of the 2009 Native American dollars) Loading a $1 coin into a machine is much less of a pain than loading four Quarters, and machines never like worn $1 bills. In downtown Denver, you can pay a parking meter with a modern $1 coin, but not with a $1 note! Edited by DNA
01/10/2009 11:43 am
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Valued Member
United States
462 Posts |
[qote]I Hope they do stop makeing dollar bills but lobbist for the paper company have deep pockets[/quote]
Actually, US Bill Currency is made from Levi's, not paper. All scraps from Levi plants is sold to the Government for making money. It is white cotton. Thus, all "paper" US currency is actually cotton, which is why it will not dissolve when left in your pants pocket as it goes thru the washer.
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Moderator
 Australia
16849 Posts |
Quote:
I have no idea who you're speaking of, or the incident... However, it seems rather 'uppity' to refuse a tip just because it happens to be in currency rather than coin. ? That's like saying "I am used to clad coins, so when the man tried to tip me with a silver coin, it showed just how ignorant he was."... Snobby to the 'Nth degree! The doorman didn't refuse the tip, he just didn't know what it was, or what to do with it. The point the local media was trying to make was that this guy, who wanted to buy a near-monopoly in Australian information media, clearly knew nothing about Australia. (1) He wasn't aware that we don't tip people. Ever. It's considered rude, or at best, condescending. (Travel tip for North Americans: if you come to Australia, don't tip people, unless you want to look like a boorish American.) (2) He clearly hadn't actually been to Australia for at least several years, and wasn't aware that the paper money he'd picked up last time he was in Australia had effectively become obsolete. The newspapers he was trying to buy had covered the changeover and controversy in some detail. He obviously hadn't read them. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
United States
462 Posts |
Yes, that would definetly be a problem, calling TIPPING, rude. Here in the United States, restaurant waiters and waitresses are paid $2 to $2.50 an HOUR, thus they need tips to make a living. You can't even rent a decent apartment here unless you make around $20.00 an hour, so tipping is necessary. Hopefully, the doorman is making more than $2.00 an hour.
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Valued Member
United States
462 Posts |
Wow, I just read this about Australia: Quote:
There are no mandatory gratuities or built in restaurant service charges of any kind in Australia (although a 10% Goods and Services Tax (GST) will be included in the total figure on your bill).
Tipping is not expected anywhere, and historically has not been the norm - basic wage rates and overtime payments in the hospitality industry have generally been protected. (It may interest readers to know that the minimum wage is currently $14.31 an hour) Here in the US, minimum wage is $7.25 an hour. I think I may need to move to Australia. |
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Pillar of the Community
United States
2734 Posts |
AU$14.31 = US$10.10 (as of the time of this post, via http://www.xe.com/) Still, US$10.10 is a bit higher than US$7.25!  |
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Pillar of the Community
United States
1208 Posts |
At the risk of steering this topic off course...
As a small business owner and parent of teenagers that work:
Our minimum wage is NOT what the average person makes.
Market forces cause even teen wages to be higher than
legal minimums. Anyone who actually accepts a
minimum wage job is either a teen living at home, or
someone who has no inclination to actually enter society
on a self sustaining level. Generally speaking... (My
sister is Downs Sydrome, so I know there are exceptions!)
A minimum wage increase is only done to pay off unions
for their political support. No one really gets a raise
except union workers. I have been one of those too...
It is built into union agreements that union pay goes
up, regardless of contracted pay, if min wage goes up.
So it pays them off for votes, and raises the cost of
living for everyone else, as well as burden small business.
It also makes my kids' pay less, as the cost of living goes up,
but they don't get a raise because they are working for the
true market minimum wage, which is higher than the legal minimum.
Edited by ratio411
01/10/2009 1:57 pm
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Valued Member
United States
462 Posts |
Ratio
There are obviously economic implications whenever a minimum wage is discussed. In addition, culture, mores and ethics come into play. In 99.99% of the cases, the more a government gets involved with "Free Enterprise", the more messed up it becomes. It just all comes down to votes. As Thomas Paine stated, "That government is best which governs least." Until the government learns how to GET OUT OF THE WAY, we will have messes like we do now. Whether it is forcing lenders to "loan" money to unqualified borrowers, or bailing out an inefficient business or giving away free money, the government wants to control everything. Thomas Jefferson stated that "every generation needs a new revolution." Maybe the US is overdue?
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Moderator
United States
189340 Posts |
Quote:
Nobody likes change, but if the government says, "You're having change, and you're going to like it!", people normally end up accepting the change without too much fuss... If your government made the change today, six months from now, everyone would be saying, "Remember all the fuss there was over getting rid of the $1 bill? We were so silly. I can't imagine life without my $1 coins now.". Well said, Sap! But even if it were passed, there are no guarantees it will be done. We already have President-elect Obama recommending to push back the DTV deadline. Who's to say that the month before the printing is to stop, that someone will complain that the billions of Dollar coins we already have are not enough?  |
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Pillar of the Community
United States
3077 Posts |
unless deflation hits us pretty bad we should use $20 and lower in coins
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Pillar of the Community
Australia
1040 Posts |
It will be interesting to see what Obama's new team does in regard to the dollar. From what we have seen here on the news, he is setting up a team to look at all the ways the government can cut costs. I would think it is a foregone conclusion that the paper dollar will disappear as it is far more expensive to produce than coins. Simply makes sound economic sense considering the state of the US economy at the moment.
Edited by latman100
01/10/2009 8:13 pm
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Pillar of the Community
United States
3098 Posts |
Step 1: Fix the economy (print more money) Step 2: Fix massive inflation from printing all that money Step 3: ? Step 4: Confiscate all gold and reset the US dollar at $50000 per oz Quote:
unless deflation hits us pretty bad we should use $20 and lower in coins I think the simple fact of making $20, 10 etc coins will cause inflation fears, which is basically what we need right now... but not when the economy is back on track again. I think what the government/new admin should do is to mail every man, woman and child 5 stacks of "new" $1000 bills with Reagan as a "new design circulation test" and then see what happens... Edited by wd1040
01/10/2009 8:34 pm
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First Page
Posted 01/10/2009 11:05 am
