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 Replies: 20 / Views: 2,351 |
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Pillar of the Community
United States
974 Posts |
We just got done eating breakfast with my wife's family. Her aunt works for the USPS at the front counter. She told us that people stand in line to return the Dollar coins they get from the machines to get paper money. She said that no one wants them, not even the bank the USPS uses has told them they will not accept them! I ask her what do they do with them and she said they have to sell them back to the guy that fills the stamp machines! In one day, she had to take in $287 worth of dollars coins returned to her alone, which completely filled her drawer and had to transfer to other counter reps. So my question is if the main distributor of Presidential dollars, The United States Postal Servie, is already having problems getting them out of their building...what's it going to be like after all the Presidents have been gone through? Sounds like Mintages need to be reduced if you ask me! |
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Pillar of the Community
United States
827 Posts |
I've gone to my post office and paid with some and they said they've never seen them and wanted to know where they could get some. So I guess it really depends on location. Some places they are circulating while others they are being hoarded. I've been to a few places and gotten them in change and others are dumbfounded when I pay with them  Asking me if it's real money and if I have any George W. Bush coins lol |
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Valued Member
United States
128 Posts |
Yep. I am also afraid they will just turn that ugly brown color like the Sacagawea dollars. |
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Pillar of the Community
United States
4867 Posts |
I don't collect these. As I have always said, these will NEVER work until the paper dollar is eliminated. Don't get me wrong, I do love the idea of dollar coins...just not more presidents. Initially the supermarket where I worked had tons of these for the first 2 issues. Don't see them there anymore except what people use to pay with.
Edited by TheForce
11/22/2007 5:22 pm
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Bedrock of the Community
United States
14454 Posts |
quote:
She said that no one wants them, not even the bank the USPS uses has told them they will not accept them!
How can a US bank refuse US legal tender? |
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Pillar of the Community
United States
7123 Posts |
Most banks are private these days they do not belong to the Government the only ones which the Government could even begin to think of controlling are the federal reserve banks,,Private financial institutions are under no obligation to accept the coins . They do not want to handle them due to various reasons, counting them,and weight being just a couple .
They are not circulating I can get them from my bank ,,and they say its unusual for anyone to want them .
Metalman
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Pillar of the Community
United States
2443 Posts |
I've only gotten one in total. I guess they're not circulating.
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Rest in Peace
United States
3730 Posts |
They don't circulate in western Colorado.
Stores do accept them here without question.
Gotta get rid of the $1 bills!
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Moderator
 United States
6563 Posts |
I have spent around $200 of them.
I have yet to see a single one Ever besides the ones I spend.
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Valued Member
United States
86 Posts |
I have received 2 as change (one from a dealer at a coin show). I have shown them to people I work with, and they have never heard of them, much less seen one. My Credit Union does have them at all times though. I also agree, for dollar coins to work, the paper has to go. I would also like to see something other than presidents on them.
Randy
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Pillar of the Community
United States
2602 Posts |
In Shreveport, I have never gotten a Presidential dollar in change, except from the USPS stamp machine, which contains a mixture of SBA, SAC and Presidential (mostly the latter). For the ones I get out of the stamp machine, I turn around and spend them. I was initially getting all kinds of unusual remarks. But lately people seem to be recognizing them. I agree with some of the other posters: You cannot have a widely circulating $1 coin unless you elminate the paper dollar, like in Canada. In Canada, $1 and $2 coins circulate widely. One time I tried to pay $5 parking with 5 SAC dollars and the attendant refused payment and told me to leave unless I had real money. She thought, I think, that the SAC were not real money or counterfeit. Before the Presidential series started, I was getting $1 rolls whenever possible, because I find proofs, coins not intended for circulation (eg, 2003 SAC) and many wide rim 1979 SBA. Once the presidential series started, however, the mixed rolls have become loaded with circulated Presidential dollars and now my good finds are nearly gone. This could be a thread by itself- should the SBA and/or SAC be removed entirely from circulation, because most people hate the SBA dollars and perhaps they shouldn't be mixing them with the SAC and Presidential dollars? At the banks, I have no trouble getting labeled BU rolls of whatever current president was released, but previous presidents are gone, so it does seem like folks are hoarding them. Edited by mycrob
11/23/2007 09:13 am
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Pillar of the Community
United States
1173 Posts |
Not sure of the definition for "circulating" but I'd say "no" the Presidential dollar coins are not circulating. A few change hands at places of business, but I'd bet that 10,000 one dollar bills change hands in normal commercial transactions (not counting coin store purchases of dollar coins, etc.) nationwide for every dollar coin that does. If the government has any intention of making them circulate freely, then the dollar bills must be pulled from circulation. Edited by hunter20ga
11/23/2007 09:42 am
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Valued Member
United States
393 Posts |
They're not circulating in east Tennessee. I've never received one in change and don't know anybody who has. People seem to be hoarding from the banks for their collections, but other than that, no.
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Valued Member
United States
382 Posts |
The Dollar bill must be copmletely eliminated, then it will circulate. I have gotten one since they came out. The American people have no idea what these coins are despite all the hype when they came out. The Country in in a Fog.
Tony
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Pillar of the Community
United States
2443 Posts |
quote:
The Dollar bill must be copmletely eliminated, then it will circulate
I agree, but I think there would be a huge public outcry if that happens. People don't really like change. |
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Valued Member
United States
382 Posts |
Yeah but the average American would accept it. He would have no choice. I think it might work ? Maybe
Tony
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Replies: 20 / Views: 2,351 |
Posted 11/22/2007 12:15 pm
