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 Replies: 21 / Views: 3,315 |
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Pillar of the Community
United States
1228 Posts |
Poll Question
Question: What year will this be approved ? Quote:
Once $1 coins have achieved sufficient market penetration, the bill describes the transition process from using $1 bills to $1 coins in circulation.
A deadline is established as the earlier of the date on which the number of $1 coins placed in circulation exceeds 600,000 annually or the date that is 4 years after the enactment of the Act. Upon reaching the deadline, Federal Reserve Banks may not order any additional $1 bills, but may for a limited time continue to place into circulation bills on hand or deposited as long as they are fit for circulation.
http://news.coinupdate.com/re-intro...-coins-2023/ $1 Washington Notes
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Moderator
 United States
14463 Posts |
you should include a choice of Never.  |
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Pillar of the Community
United Kingdom
1682 Posts |
 Or maybe not in my lifetime.  Ken |
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Pillar of the Community
United States
561 Posts |
I would vote but I don't see it happening in the time frame allowed within the set of choices despite how much I wish it would happen this year. |
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Moderator
United States
187702 Posts |
I am an optimist. I chose 2013.  |
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Pillar of the Community
United States
965 Posts |
apparently, they would still make $1 bills for collectors so I'm for the coins act, however if it should pass, you would not see dollar coins til the dollar bill were withdrawn so 2017.
Edited by 1967Canadapenny
06/13/2013 12:02 pm
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Bedrock of the Community
United States
17884 Posts |
If the bill passes with that clause in it, then it will become effective less than one month later. The drawdown of dollar coins from the Federal Reserve is roughly 6,000,000 coins a month. Basically for those communities that use it for their rapid transit. So one week after the bill passes roughly 1.5 million coins will leave the Fed for circulation. That will satisfy the clause in the bill and mandate the elimination of ordering the dollar note.
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Pillar of the Community
United States
4901 Posts |
If both coin and bill coexist the coin won't be used...that has already been proven.
I chose 2017 because they was not an "it won't work" choice..
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Pillar of the Community
United States
1817 Posts |
Crane Paper Company, anyone?
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Valued Member
United States
75 Posts |
I don't see this happening anytime soon. I know a lot of countries do this but the bottom line is that it's much more inconvenient to carry around heavy coins than dollar bills. Whenever I am in Canada it annoys the heck out of me when you get a bunch of dollar and two dollar coins as change, I don't like carrying around change I just want bills that I can slip into my wallet!
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Pillar of the Community
United States
2764 Posts |
What can we buy with $1 now-a-day anyway?
I wish this would happen ASAP..... let see when will that become the reality.
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Valued Member
United States
75 Posts |
I usually use dollars for tips. Food delivery, valet, etc. It's a lot easier to pull $4 out of my wallet than to have to carry around a bunch of coins. I also absolutely refuse to carry around change. Just personal preference... Also if I pay for something with a large bill I would hate to get back a bunch of coins rather than $1 bills. Think about how many times you have paid with a $20 and the cashier doesn't have 5s so you end up getting like $9 in singles... imagine if that were 9 dollar coins! No thanks! I like coins for collecting but carrying around 9 dollar coins while you are out is a royal PITA.
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Pillar of the Community
United States
2764 Posts |
Part of the bill name is "National Savings".... so obviously they may also have the intention of getting the mass to save more, since most people don't like to carry changes, which mean they'll throw those $1 in their change tray/jar (or those $1 may get lost somewhere).... the accumulations of those $1 over time is one way to force people to save (anyone using BoA's credit card with the "save the change" program/feature?).
I always empty my pocket when I get home and dump all the change into a basket.... a few weeks ago, my daughter tip it open and I sorted all the coins out, I realized I have accumulated over $20 in just quarters alone.... going to use these for my laundry.
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Pillar of the Community
United States
965 Posts |
Quote:
I don't see this happening anytime soon. I know a lot of countries do this but the bottom line is that it's much more inconvenient to carry around heavy coins than dollar bills you obviously don't use a laundromat very often. Just the other day I had to wash & dry 20 loads of laundry. It cost me $90.00... in quarters. That's 360 quarters! So I agree with you... It is very inconvenient to carry so much change around, which is why we need a dollar coin. Laundry would be much easier. Not to mention it would be much easier to put a coin or two into a vending machine instead of some crinkly bills. Quote:
Think about how many times you have paid with a $20 and the cashier doesn't have 5s so you end up getting like $9 in singles... imagine if that were 9 dollar coins! No thanks! I like coins for collecting but carrying around 9 dollar coins while you are out is a royal PITA. I do think that's a good point however, which is why I think the $2 bill should be used more often. Think about it... if the $2 dollar bill was used more often, the demand for dollar coins would be less. If you were owed $1 in change you'd get a dollar coin, if you were owed $2 you'd get a bill, $3 a bill and a coin, $4 two bills. In other words, you'd NEVER get more than one dollar coin in change. |
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Pillar of the Community
United States
2764 Posts |
I have to totally agree with 1967Canadapenny.
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Pillar of the Community
United States
1088 Posts |
Not sure if it will happen as soon as the years you listed
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Replies: 21 / Views: 3,315 |
Posted 06/13/2013 06:50 am
