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 Replies: 30 / Views: 2,338 |
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Pillar of the Community
United States
2600 Posts |
We all have our own self enlightened reasons either for or against getting rid of the paper $1 and going to a coin. During a dinner meeting last night I was talking with a friend who is a V.P. at a local commercial bank here in town and had the chance to discuss the new Prez coins. His exact word were "it will not work". The reason has nothing to do with the people spending the money. He asked me if I had any idea how many $1 dollar bills just their bank handles each day to supply operations like fast food store. His exact words were, we physically do not have the space or the man power to handle the required inventory. He believes that the banks will not put them on the shelf so they will never get a fair chance to enter everyday circulation. Wow, I have never looked at it from the supply side of the issue. Just food for the cognitive process. Jim  |
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Pillar of the Community
United States
1173 Posts |
That's an intersting perspective. Not being a banker, I don't know how to evaluate that opinion, but other countries manage to get by without dollar bills, and I bet we could, too. We won't, though, until forced to do so. People hate change in the mundane parts of their lives.
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Valued Member
United States
383 Posts |
I have been trying to spend a roll a week on things like coffee, post office , tips. Most people seem glad to see them and ask about them. Perhaps if people use them enough the banks and business' will adjust.
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Pillar of the Community
Australia
655 Posts |
The changeover from notes to coins happened just fine over here. In fact we don't even use paper for notes anymore either. They're all polymer.
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Pillar of the Community
Australia
3831 Posts |
The fastest solution is to force people to use the dollar coins, that is to stop printing dollar bills. It can't be too difficult to stop printing those paper bills.
My partial coin collection http://www.omnicoin.com/collection/gxseriesMy numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htmRegularly updated at least once a month. |
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Valued Member
United States
62 Posts |
I can see where if a bussiness needs a large amout of $'s that the weight issue would come into play
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Bedrock of the Community
United States
12437 Posts |
quote:
It can't be too difficult to stop printing those paper bills.
It is difficult when Crane Paper Co.(sole BEP supplier for currency stock) is in the state represented by John Kerry and Ted Kennedy  |
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Pillar of the Community
United States
1327 Posts |
I still believe the mass amount of dollars the mint is minting each year is just in preparation for the change over. I believe in the next 3 year the federal reserve will say we need to go to the coin just way to many in storage. I think the banks and retailers will adjust they have in every other country except the US and Have not heard of problem around the world without having bills. Like other have said we just don't like change.
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Pillar of the Community
Luxembourg
588 Posts |
I think it is just a question of what you have the habit to use.
When the Euro has been introduced in 12 European countries the people in countries like Italy wanted to have a one Euro bill while the people in countries like Germany did not want to have such notes.
The simple reason: Italy had a 1000 Lire bill worth around 0.50 Euro (the 1000 Lire coin was not used a lot), Germany had a 5 Mark coin, worth around 2.50 Euro (they also had a 5 Mark bill, but you hardly found any in circulation).
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Valued Member
United States
98 Posts |
Hey, we have a "do good" congress in there. All they have to
do is set up a bill to not print the greenback and bingo, the
Presidential coins will be mandated.
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Pillar of the Community
United States
4867 Posts |
Maybe tax breaks could be given to businesses so they are better able to handle dollar coins. Coins just seem more sensible with having a greater lifespan than paper money. People need to get rolls of these dollar coins from their banks and just spend them to get these things circulating. Maybe then people will become used to them.
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Pillar of the Community
 United States
2600 Posts |
Good point nds76. If they are not recognized you cannot spend them. I went to Panera Bread yesterday and like you have been spending some just to see the reaction. Could not get the girl behind the counter to accept them until she called her manager over. Then, everyone wanted one. Go figure.
Jim
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Pillar of the Community
United States
7123 Posts |
I paid for Money orders at the post office with dollar coins ,,They were the first ones they had seen !! If the Federal Government wants me to use the coins ,,I think (YOU FIRST) should be the order of the day !!
Metalman
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Valued Member
United States
246 Posts |
also, it's a little harder to counterfeit the coins isn't it? I dunno.
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Rest in Peace
United States
2684 Posts |
quote:
I paid for Money orders at the post office with dollar coins ,,They were the first ones they had seen !! If the Federal Government wants me to use the coins ,,I think (YOU FIRST) should be the order of the day !!
I'm getting similar reactions with the roll of Georges I bought. Almost nobody has seen the new dollar coins and several people have bought one from me, swapping their paper for the coin. As several have stated before me, the only way we're gonna get rid of the dollar bill and start using the dollar coin is to stop printing the bills. Canada uses the loonies (and toonies) with no problem. Couldn't we send somebody from Congress on a junket to visit Ottawa and see how they did it? |
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Bedrock of the Community
United States
14454 Posts |
I know I have been saving every 1 dollar bill I get in change, well I don't save them I have just been putting them in slim jim containers ever since I can remember like people put their change in a jar I put my dollar bills in one. I don't do it because I think they will stop printing them, I just do it out of habbit
Edited by Bryan1315
03/30/2007 4:44 pm
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Replies: 30 / Views: 2,338 |
Posted 03/30/2007 09:02 am
