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 Replies: 49 / Views: 4,365 |
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Pillar of the Community
United States
4867 Posts |
I think the dollar coin program should just cease until the greenback gets withdrawn from circulation. I was sitting here this morning pondering this issue. I just have to ask, why make this coin when they are just gonna end up in government vaults not being used? Seems kinda senseless to me. Also I wanted to share this Facebook page I found. https://www.facebook.com/dollarcoinalliance |
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Pillar of the Community
United Kingdom
4208 Posts |
I think its all very very silly. Just stop making notes. All of a sudden, the coin will be used all over the place. Seriously, you guys have a stockpile big enough to satisfy demand but just wont start issuing it out.
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Pillar of the Community
United Arab Emirates
557 Posts |
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Pillar of the Community
 United States
4867 Posts |
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Pillar of the Community
United States
2311 Posts |
I think it would be the best to make dollar coins and not paper money. And they should make 5 dollar coins too.
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Pillar of the Community
United States
7840 Posts |
There are times when the people do not get a say in the matter...this should be one of them!
Cease production of the One Dollar Bill, and the Two Dollar Bill should circualte alongside the Dollar Coins.
Not so sure on the Five Dollar Coin.
Edited by oih82w8
02/01/2013 12:53 pm
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Moderator
 United States
23522 Posts |
A while ago, people said the exact same thing about Morgan dollars. That's why there are hundreds of thousands of them in Mint State condition, inspiring one of the largest subsets of current collectors. |
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Valued Member
Canada
271 Posts |
The dollar coins worked out well for us... :)
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Pillar of the Community
Australia
9400 Posts |
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The dollar coins worked out well for us... :) And us! Also the $2 coin as well. Steve  |
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Bedrock of the Community
 United States
12820 Posts |
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Cease production of the One Dollar Bill, and the Two Dollar Bill should circualte alongside the Dollar Coins. Here! Here! I agree. Biggest legitimate gripe I've heard is the cost of retrofitting vending machines. But who cares? Suck it up and pass it onto the consumer. It always happens that way. I love the idea of dollar coins and two-dollar bills -- or even $2 coins like our genius Canadian brethren have. Why can't we be smart like them, eh? The answers are stubborn old-fashioned thinking, the specter of having to spend a ton of money to make the change, and that it'll "break the whole system". Same reason(s) we can't get off English units. Hogwash! It would generate a ton of business to make these changes and would be good for the economy. We'd adjust! Humans are nothing if not extremely adaptable. How did Agent Smith describe us...oh yes... "a virus". And you gotta spend money to make money. The New Deal created business and jobs and brought us out of the Great Depression (ok, that's a bit of a stretch for this case but the principle applies). People get a clue! [/soapbox] Of course I jest a bit.  But just a small, tiny bit. We really should make the change (ahem). |
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Pillar of the Community
United States
1796 Posts |
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Biggest legitimate gripe I've heard is the cost of retrofitting vending machines. It will happen sooner or later. Might as well get it over with now and reap the savings sooner. In truth, I believe (as I've ranted about in another thread about this) we need to pretty much add a "0" to the end of all circulating coinage denominations to make it really usefully sized again, otherwise our coins only really "circulate" one way (customers pay with bills and take the coins, but very rarely pay with them). That stubbornness has, over the past 60-70 years, allowed for those coins -- which were once worth something -- end up worth pocket lint due to the steady march of inflation, where it costs 2.5 cents to make a penny and nearly 12 cents to make a nickel. We *need* to kill more bills, waste less non-recycleable paper that gets dumped in landfills every year (we need that space), and start using more recyclable metal. There isn't a day that goes by where I don't receive a 1964 nickel in change. Next year those coins will be 50 years old and they are the bane of every nickel collector due to that ubiquity and longevity. In contrast, our dollar bills last less than 18 months before they're pulped. Such a waste. |
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Bedrock of the Community
United States
12820 Posts |
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...I believe (as I've ranted about in another thread about this) we need to pretty much add a "0" to the end of all circulating coinage denominations... Didn't Mexico do something similar to (and more drastic than) that in the early 90's? Doesn't that just exacerbate the problem of our fiat economy? |
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Bedrock of the Community
Australia
21786 Posts |
Most non Americans in every other part of the World find it difficult to understand why the Dollar Note is still in circulation.
Dollar coins are cheaper in the long run.
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Pillar of the Community
United States
1796 Posts |
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Didn't Mexico do something similar to (and more drastic than) that in the early 90's? Doesn't that just exacerbate the problem of our fiat economy? They actually re-valued their currency where they dropped 3 zeroes after a bad case of hyperinflation. 1000 old Pesos were then worth 1 New Peso and old and new Peso coins and bills circulated alongside each other. I'm merely suggesting bumping all coin denominations up by a power of 10 and stop printing corresponding bills entirely. Instead of 1¢, 5¢, 10¢, 25¢, 50¢, $1 coins and $1, $5, $10, $20, $50, $100 bills Perhaps 10¢, 50¢, $1, $2.50 [or just $2], $5, and $10 coins and $20, $50, $100, and $500 bills. That would bring our coins and paper denominations about on parity with their buying power roughly 60 years ago (for most things). Extreme? Yes. However, in a generation, no one will remember anything differently, we'll have saved billions and billions of government dollars, and we shouldn't have to worry about changing our currency for a longer time (one big change, fewer poor subsequent kludges). |
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Pillar of the Community
United States
1116 Posts |
As much as the presidential coins are frowned upon today, in maybe 10 - 15 years down the road it will be a much sought after set of coins. So let them mint it today, set some aside and then rake in the proceeds in the near future (?). How many of us are now chasing the Eisenhower, Susan B, and Sacajewa coins now that they are history but still available. If we had gotten our fill back then we probably would be chasing shadows today.
My only real complaint about the current dollar coins is the fact the edge marking that they are doing now. I need a 10x glass just to tell the mintmark. It's going to be enought to make me go blind.
That's my rant and complaint..............................
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Pillar of the Community
Australia
2830 Posts |
My Dear Seppo friends - when you abandon your $1 notes in favour of your coins, you'll wonder why you waited so long. And as a bonus, you'll see that the sun will continue to rise in the east and set in the west. Canada, the United Kingdom, New Zealand, and Australia made the change years ago, and it's worked out fine. We did try a $5 coin, but that was 28.0 grams & Diameter: 38.74 mm, and that just wasn't convenient. AS a side note, the Golden Arches in Australia have been adding new items to their menu, pitched at the $1, $2, & $3 price points, because generally have $10 worth of coins in their pockets, and it's easy to decide to make a purchase, if you don't have to take your wallet out: "the Loose Change menu". http://www.smh.com.au/business/mcdo...1-2b7ox.html |
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Replies: 49 / Views: 4,365 |
Posted 02/01/2013 11:12 am
