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House Wants To Eliminate $1 For Brass Bucks

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Pillar of the Community
United States
7840 Posts
 Posted 01/13/2012  10:27 am  Show Profile   Bookmark this reply Add oih82w8 to your friends list
I have five Golden Dollars (Washington's) in my pocket right now...(rechecked, four Golden Dollars, I bought a candy bar on break), and I use them DAILY.

I am doing my part in keeping them circulating in OKC.
Edited by oih82w8
01/13/2012 11:34 am
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United States
189120 Posts
 Posted 01/13/2012  11:37 am  Show Profile   Bookmark this reply Add jbuck to your friends list

Quote:
But realistically, when the government needs to cut $1 trillion from its annual budget, a few $100 million here and there, won't make a difference.
With that sort of thinking, we might has well just give up now.

Quote:
It does make sense to not mint them if no one is using them though.
Get rid of the paper and people will use them. It is that simple; and it is that much better for us. I will beat this dead horse until we have glue.

Quote:
I am doing my part in keeping them circulating in OKC.
Very nice!
Rest in Peace
United States
9104 Posts
 Posted 01/13/2012  5:32 pm  Show Profile   Bookmark this reply Add biggfredd to your friends list

Quote:
But realistically, when the government needs to cut $1 trillion from its annual budget, a few $100 million here and there, won't make a difference.


Gee, I wish spammers and hackers would take that attitude: "We sent out a million emails, and no suckers replied. Time to look for a job at 7-11."
Pillar of the Community
United States
2295 Posts
 Posted 01/16/2012  11:38 am  Show Profile   Bookmark this reply Add wquinn to your friends list

Quote:
With that sort of thinking, we might has well just give up now.


I think the government has, since they stopped production of the dollar coins and won't work together to balance the budget.

Both problems can be resolved, very easily, if they wanted to.

So who wants to create a form letter for us to send to congress, etc about stopping the dollar note and replacing it with the dollar coin?

And if the two dollar note becomes as much in demand as the dollar note, then we do the same for that.
Pillar of the Community
United States
4132 Posts
 Posted 01/16/2012  11:54 am  Show Profile   Bookmark this reply Add CaptainFwiffo to your friends list
The other day I was thinking about this, and how people bring up the number of slots in a cash register drawer... Whenever I get between $10 and $20 in change from a transaction I, more often than not, get two fives instead of a ten. Do we really need ten dollar bills? They don't seem that popular, and people are comfortable with using fives instead.

It's like half-dollar coins, except the "basic" unit is the twenty, which is what most people carry and get from ATM machines. A quarter-twenty (a fiver) is pretty popular and convenient, the way a quarter-dollar is, but a half-twenty (a ten) is a bit like a half-dollar.
Pillar of the Community
Canada
1733 Posts
 Posted 01/16/2012  12:20 pm  Show Profile   Bookmark this reply Add Ugly to your friends list
This is a great debate to read and watch unfold, we obviously went through the same thing here.

My aged parents owned a general store at the time of our cutover and while I was off pretending to captain industry, when I went home I was expected to stand at the till and make change like everyone else. (No snobs allowed in our house).

People grumbled, people complained, but at the end of the day they used the coins. As things shifted, the unique loonie came to be a source of pride. There's a bird and a housekeeper on our coin and people are proud of it. In terms of coin management, it added nothing really. The pop machines took loons in short order and the airport vending machines were great, because you could stuff four or five in without rejections or worry. Before that I can't think of how many times I stood at the airport giving a stranger a crisp bank note for a rumpled one that wouldn't scan.

Overall, I like the loon, given the standard devaluation of currency all inflationary economies experience, it's just makes sense.
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189120 Posts
 Posted 01/16/2012  6:08 pm  Show Profile   Bookmark this reply Add jbuck to your friends list

Quote:
Do we really need ten dollar bills? They don't seem that popular, and people are comfortable with using fives instead.
Interesting thought.
Rest in Peace
United States
9104 Posts
 Posted 01/17/2012  12:02 am  Show Profile   Bookmark this reply Add biggfredd to your friends list

Quote:
people bring up the number of slots in a cash register drawer... Whenever I get between $10 and $20 in change from a transaction I, more often than not, get two fives instead of a ten. Do we really need ten dollar bills? They don't seem that popular, and people are comfortable with using fives instead.


They didn't make tens last year. The one they made the most? The 100.

I've heard the old "not enuf slots" argument many times, by people like this:

Kresge's (four slots, two of them crammed with at least 100 ones each).

Dairy Queen (four slots, 1-5-10-20. 20? Are $20 needed for change at DQ?)

Various (four or five slots, at least one full of coupons, rubber bands and pencils, restroom key, checks that can't be used for change, rolled coins, etc)
Pillar of the Community
United States
2295 Posts
 Posted 01/19/2012  10:04 am  Show Profile   Bookmark this reply Add wquinn to your friends list

Quote:
They didn't make tens last year.


http://www.moneyfactory.gov/images/...uary2011.pdf
http://www.uspapermoney.info/serials/f2009_d.html

Actually they made 57.6 million $10 notes, as the links above show. A small amount, but it shows not much of a demand for them.

The BEP is really outdated on updating their production info, but they said they are transitioning to a new system, so hopefully they can update it each month for the previous month.

Valued Member
United States
284 Posts
 Posted 01/19/2012  10:43 am  Show Profile   Bookmark this reply Add DM1975 to your friends list
I don't see how getting rid of the dollar note would cause inflation or be a vote of no confadence in our economy as you are effectivly saving our government money by eleminating the federal reserve premium per printed dollar by using minted coins instead.

Granted, strippers may get covered by small bruises from people throwing singles at them but other than that I think it would be a wise move.Just my opinion.
Pillar of the Community
United States
2589 Posts
 Posted 01/19/2012  10:50 am  Show Profile   Bookmark this reply Add XavierOfGreen to your friends list
They really should get rid of the dollar bill and bring back the $500. That way we can save money from printing costs and compete with other currencies that have high valued bills (Swiss Franc, euro ect). I personally would eliminate all bills under $10 and bring the half eagle back into circulation, but I doubt that would go over well with the public.
Pillar of the Community
United States
7840 Posts
 Posted 01/19/2012  11:31 am  Show Profile   Bookmark this reply Add oih82w8 to your friends list
With America's nostalgia showing (retro 1969 type Camaro, Mustang, Challenger, Charger, etc...) I really wish that the Mint would go back to the classic coinage designs. I have a pretty good idea that they would go over well with the public too! ...and bring back the Education Series notes as well!
Edited by oih82w8
01/19/2012 11:32 am
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189120 Posts
 Posted 01/19/2012  11:48 am  Show Profile   Bookmark this reply Add jbuck to your friends list

Quote:
I personally would eliminate all bills under $10 and bring the half eagle back into circulation, but I doubt that would go over well with the public.
I can dig that.
Pillar of the Community
United States
4132 Posts
 Posted 01/19/2012  11:53 am  Show Profile   Bookmark this reply Add CaptainFwiffo to your friends list
They don't want to bring back large denominations because of the "war" on drugs. It's also already hard to break anything bigger than a twenty. The only time I use Grants or Bens is for coin roll hunting.

If I had some need to work with tens of thousands in cash, I'd frankly love to have to have a briefcase full of money rather than an envelope of $500 and larger bills.
Rest in Peace
United States
9104 Posts
 Posted 01/19/2012  5:03 pm  Show Profile   Bookmark this reply Add biggfredd to your friends list

Quote:
http://www.moneyfactory.gov/images/..uary2011.pdf
http://www.uspapermoney.info/serials/f2009_d.html

Actually they made 57.6 million $10 notes, as the links above show.

The first link shows no production of tens.

http://www.moneyfactory.gov/uscurre...figures.html

Fiscal year 2010, (which is what I meant): zero tens. FY 2011 not reported.
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