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 Replies: 29 / Views: 3,093 |
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Pillar of the Community
708 Posts |
Here is another topic I am interested in discussing. Does anyone here think that the $1 bill is going to be eliminated this year? I've read that, although the "Coin Coalition", which was a group of lobbyists for the dollar coin, never disbanded, but came to a tragic end, when Mr. James C. Benfield, Exeutive Director of the Coin Coalition passed away due to a brain tumor in the early 2000s, and now there is a new group known as the "Dollar Coin Alliance", and although during Mr. Benfield's time there was a $1 bill supporting lobbyist group called "Save the Greenback" and then there was recently another $1 bill lobbyist group called "Americans for George" both $1 bill groups have since disbanded while the two $1 dollar coin groups never did, so this year, they are really thinking with no counter lobbyist groups and other special interests going against them, that the $1 bill will be replaced by the dollar coin. I talked with the Dollar Coin Alliance, and they said it is inevitible, and to call back in April to see how things progress, because I asked them when Congress was supposed to vote on the issue.
So, does anyone here think that the $1 bill will be replaced with the dollar coin any time soon? And for that matter, is the cent doomed as well? (The Dollar Coin Alliance guy did say that that issue will likely be addessed as well)
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Valued Member
United States
442 Posts |
I think that the cents fate all depends on how we'll that Canada is without their cent, if they do great we will follow if its bad for them then we won't. Now the dollar coins replacing dollar notes is absolutely absurd try giving someone a $5 for $1.00 and getting4 coins back now if that happens over time your pocket is going to be weighed down with metal. And unlike notes when you sit down the coins will slid out of your pocket and guess what your losing money unlike dollar notes that have never fell out of my wallet before.
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Pillar of the Community
 708 Posts |
You wouldn't have to worry about getting four coins if you broke a $5 bill for $1. You would be getting two $2 bills. Start worrying when they replace our $2 bill with a $2 coin like Canada did.
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Valued Member
United States
442 Posts |
True but you still have all of the other problems that I had listed.
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Valued Member
United States
207 Posts |
Even though the dollar coin will save the BEP quite a bit of money as they last longer than the $1 bills, I'd be really sad to see the greenback go. If Congress truly decided to end the greenback I am sure they would start printing huge amounts of $2 bills before phasing out the $1 bill. I would be fine with the $1 coin as long as it weighed less than the current coin.
It would also mean it was time to start buying original banded packs of $1 bills and hoarding them away :-)
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Pillar of the Community
708 Posts |
Well, thats what I am wondering is going to happen. The the upcoming $2 bill redesign, which I am guessing might happen around 2014, seeing as the Series 2009 of the current design is only supposed to meet the demand for $2 bills until 2014, I'm wondering if they've even started printing them now, to stock pile for a $1 bill phase-out.
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Pillar of the Community
United States
742 Posts |
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Pillar of the Community
708 Posts |
*sigh* Yes, its Drago. I hope you're not one of my enemies. I don't remember, so I'm sorry if I accused you.
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Pillar of the Community
United States
652 Posts |
I really doubt we're waiting to see how Canada does without the cent coin before we get rid of it. Other countries had gotten rid of low denomination coins before Canada, and are doing quite well without them. I like paper money - it fits in my wallet better than coins do, and the only way the single will disappear in favor of dollar coins is if they force it on us. JMHO.
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Moderator
 United States
188325 Posts |
Quote:
Now the dollar coins replacing dollar notes is absolutely absurd try giving someone a $5 for $1.00 and getting4 coins back now if that happens over time your pocket is going to be weighed down with metal. Even if there were no two dollar note, you should never have more than four one dollar coins at any time. If you do, you are doing it wrong. You probably have a pocket full of other change as well.  Of course, a pocket full of change could be good, if you are searching.  |
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Valued Member
United States
207 Posts |
The way I see it, coins will just encourage more tipping. Some people might just throw them dollar coins into the jar instead of pocketing it. Works for me!
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Pillar of the Community
Canada
3692 Posts |
It think that if the Fed found a way to properly distribute the few billion evenly and inexpensively across the country, and simultaneously stopped production of the $1 bill, it could work.
Stories of hypothetical situations involving heavier pockets are myths! The same would be true of Brinks trucks.
Another thing: why not make a very small $1 made of .900 fine silver? Why not make it pentagonal in shape with a picture of the Pentagon!? It would be small and light enough that people wouldn't complain and it can't be confused with any other coin because of its shape and unmistakable luster. Pentagon on one side, and a national poll to decide the other side so that there's SOME input from the public.
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Pillar of the Community
Canada
3692 Posts |
@ Voshaus: "if they do great we will follow if its bad for them then we won't."
Errrr... The dollar coins and two dollar coins are working amazingly in Canada... So join the bandwagon, will ya? And Australia, and the UK... I have a suspicion that Americans just have a fear of coins - why? I have no idea. Do you guys get coin nightmares or coin horror movies?
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Pillar of the Community
United States
1796 Posts |
Gold dollars from days of old were rather tiny in comparison. A dollar coin really doesn't need to be bigger than a dime (and not too terribly long ago, dimes were worth dollars in modern money).
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Pillar of the Community
Canada
814 Posts |
When I go to the states I get 1 dollar coins in vending machines and stuff all the time...then when I try and spend them about 80% of the people taking them are amazed by them or want more becasue they collect them....its kinda weird. I never understood the point of a dollar bill. The coins are way more appealing and last way longer....Also when I go the the states everytime I open my wallet I think I'm rich becasue I have a fat stack of bills in there....then I count them and I have like 25 bucks...
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Pillar of the Community
United States
1227 Posts |
Just saying, if someone here has a baby dollar and a British one-pound AND a working camera (I still haven't found my cord), it'd be a nice and worthwhile picture to show them side by side.
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Replies: 29 / Views: 3,093 |
Posted 02/06/2013 7:02 pm
