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 Replies: 9 / Views: 1,440 |
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Pillar of the Community
United States
997 Posts |
Our good friend Fox has been proselytizing the resurgence of the half dollar and dollar coins as well as establishing a $2 coin recently. While I have provided a lot of criticism due to the general apathy of the public for these coins, he is right in that these coins could be more useful.
In order for larger value coins to be accepted by the public a couple things need to happen. Most important is the "bash them over the head and force them into it" method that Canada did by eliminating the smaller bills and forcing the dollar and $2 coins to replace them.
Secondly I think that elimination of the cent and a general realignment of coinage would be needed. My suggestion would be to make the 5 and 10 cent piece copper colored small coins, replace the quarter with a 20 cent piece and make the half smaller. Leave the dollar coin at its current size and make a $2 coin to match the Canadian coin.
Will it happen? Not likely. We are rapidly getting closer and closer to the point where coins are irrelevant and would be eliminated before they can be re-imagined.
The current dollar has a tenth of the purchasing power it did when the silver was removed from dimes and quarters. The only way coins can still be relevant for purchases (as opposed to the changemekers they are now) if this trend continues is to revalue the dollar, and this is even less likely to happen.
While I appreciate Fox's enthusiasm and would love to see these larger coins in use, it just ain't gonna happen without drastic and historic action. Washington has not been known for that in recent years and it doesn't look like that is going to change anytime soon.
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Pillar of the Community
708 Posts |
Why couldn't we just eliminate the 5 cent coin and add a $5 coin as well? I have actually read some government sites that say $5 bills wear out much quicker than $1 bills. For the $5 coin, I propose what Canada has proposed for a $5 coin: A bimetallic golden ring around a silver colored center coin, and Canada has even talked about making their $1, $a and ($5 coins in the future) smaller and lighter. And lets not forget at least the $200 and $500 bills. Canada has talked about future Canadian $200 and $500 bills. They also mentioned however, that as of now, they see no reason to bring back their $1,000 bill, but at least they are thinking about a $200 and $500 bill.
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Moderator
 Australia
16808 Posts |
You can't eliminate the 5¢ coin without either eliminating the 25¢ coin or changing it to a 20¢ coin.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
United States
149 Posts |
What's wrong with paper bills?
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Pillar of the Community
United States
624 Posts |
The public resistance with coins in-general is portability. It's much less convenient to carry coins in your pocket than bills (or plastic) in a wallet. As a lifelong fan of coins, that 'inconvenience' is tolerable for me. Unfortunately, I think the trend is going to be changed unless the US Mint does something to market the idea of replacing paper w/metal.
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Pillar of the Community
United States
965 Posts |
Quote:
You can't eliminate the 5¢ coin without either eliminating the 25¢ coin or changing it to a 20¢ coin. unless you simultaneously eliminate the 10¢ coin.  Also, I used to be strongly in favour of a dollar coin, but I've lately developed an obsession with banknotes so the jury's still out...  Edited by 1967Canadapenny
06/03/2013 1:51 pm
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Bedrock of the Community
13014 Posts |
The other thing to consider too is that for younger people with the new fashions of tight fitting clothes ect theres really no where to carry a bunch of coins. Try fitting a bunch of coins into skinny jean pockets lol.
But n9 had it right, it doesn't matter what size you have them or how you do it the only thing that matters if you just remove the choice of bills and force it into the public. If you force it it will work, if you dont force it no matter what they do it almost certainly wont catch on
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Moderator
United States
187702 Posts |
Quote:
unless you simultaneously eliminate the 10¢ coin.  |
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Pillar of the Community
United States
2764 Posts |
*** Staff Edit, need to keep it G-Rated ***
To be clear, I support many of you guys suggestions though.
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Pillar of the Community
708 Posts |
Sap,
Of course they would have to replace the quarter with the 20 cent coin (or fifth) just as n9jig mentioned. Personally, I would have rather they retired the quarter in the fifth's place, when they retired the fifth.
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Replies: 9 / Views: 1,440 |
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Posted 06/02/2013 11:10 pm
