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 Replies: 23 / Views: 2,375 |
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Valued Member
United States
455 Posts |
All the (well deserved) hype around the Presidential dollars has me thinking, could the spending public deal with a $5 circulating coin? I'd vote for it. |
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Valued Member
United States
140 Posts |
i'd vote for it too. I think that more people would use them. you cant buy much with a 1.00 coin.
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Valued Member
United States
270 Posts |
i really dont want coins like that to circulate, paper money is light where as coins get to be heavy, I love coins for collecting, but my purse weighs enough as is
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Pillar of the Community
United States
1626 Posts |
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Valued Member
United States
270 Posts |
A circulating five dollar coin would be like the fifty cent piece of yesteryear.
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Bedrock of the Community
United States
14454 Posts |
I would like a 5 dollar face coin for collecting purposes that you can buy at face value but for carrying around I will not even circulate the dollar coins
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Valued Member
United States
393 Posts |
I don't know if it would be accepted or not. But I think our coinage is long due for an overhaul. Right now, you can carry around a pocket full of change and have very little purchasing power. According to statistics a handfull of metal coins 200 years ago had an enormous amount purchasing power. I'm sure some people on this forum can remember buying a candy bar with a nickel. It now takes at least 10 or 20 nickels to buy the same candy bar. No wonder people are sticking steadfastly with paper money. Does anybody else feel the same way? Just my .02.
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Pillar of the Community
United States
675 Posts |
I agree that the coinage is due for an overhaul. Other than quarters, typical change has very little purchasing power, (not that you can buy much with a quarter either).
The problem I see is that the general public doesn't want higher value coins. Look at the $1 coins, they just don't circulate. The only time I get them in change is at the post office when buying a book of stamps in the machine. Most people don't use the $1 coins, and don't seem to like them. Therefore, I don't see a $5 coin working out although personally I like the idea.
Thundercoin
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Pillar of the Community
United States
2269 Posts |
I don't see the dollar coins circulating as long as there are dollar bills around. The same would be true if there were a $5.00 coin. I also agree that U.S. coinage needs a complete overhaul.
I like the approach the EU took in issuing only 1 euro coins and 2 Euro coins instead of bills. While I was in Italy last year I received both in change on a daily basis. I was surprised to see the 2 Euro circulate. If the U.S. would scrap the Dollar bill, all those dollar coins the Mint is producing would finally circulate.
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Pillar of the Community
United States
2254 Posts |
I agree with Spider, except the fact that if I remember correctly, the 1 euro is much smaller in diameter than an Ike or Sac for that matter. The euros are more like thick nickels aren't they? That being said, that seems a little easier to carry around than even the new dollars. They are heavier, but you certainly wouldn't need as many to have a decent amount of money in your pocket.
I can't blame anyone in the 70's prior to Susan B, not wanting to go to coins. Those dollars were way to big IMO for everyday change. Then the Susan B's were too close to the quarter. Again, if I remember, the euro coins had a definite weight and thickness to the touch compared to lower denominations. Just my 2 cents as well.
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Valued Member
United States
393 Posts |
Can you not get a one or two Euro paper bill? I may be wrong but I think it would save the mint $500 million a year if they did'nt make $1 bills. People are resistant to the idea of no $1 bills but I think it would catch on. Trouble is, change is heavy. Nobody wants to carry around 1/2 lb. of change in their pocket, especially if it's not worth much. Just imagine if the smallest coin was $1 and it was the size of a Roosevelt dime. That would be way to simple and probably cost jobs at the mint. |
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Pillar of the Community
United States
675 Posts |
I took a couple day trips to Canada when I was living in Vermont in the late 90s. It seems that the $1 and $2 coins were very popular there. Does anyone know if they still make $1 or $2 bills there?
Thundercoin
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Pillar of the Community
United States
2269 Posts |
I remember reading an article a few years ago about the cost difference between the dollar bill and the dollar coin. The coin was actually cheaper to make. One of the main reasons was, the dollar coin lasts longer in circulation than the bill.
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Bedrock of the Community
United States
12437 Posts |
" Can you not get a one or two Euro paper bill?"
No, the smallest is 5 Euros, followed by 10, 20, 50, 100, 200, and 500 Euro notes.
Does anyone know if they still make $1 or $2 bills there?
No bills, just Loonies and Toonies.
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Valued Member
United States
342 Posts |
Me and my metal detector would love to see $5 coins. :)
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Pillar of the Community
United States
675 Posts |
[quote][/the dollar coin lasts longer in circulation than the bill.quote]
Does anyone have any idea how long the average bill lasts in circulation?
Thundercoin
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Replies: 23 / Views: 2,375 |
Posted 01/21/2007 9:31 pm
