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 Replies: 70 / Views: 6,459 |
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Pillar of the Community
Canada
999 Posts |
If you get rid of the one cent, there is more room in your pocket for the dollar coin.  I agree with the above, the U.S. needs to eliminate the $1 bill in order for people to use the coin. The prior attempts to introduce the coin seemed to have thought the public would gravitate toward it over the bill for some reason. |
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Pillar of the Community
 United States
900 Posts |
I may be in the minority here, but I don't carry cash anymore, or a wallet. I have a $20 bill and a check as backup money in my phone case, and I pay for everything with a credit card. Literally everything. I'd say I use cash or a check maybe once a month, and I know a lot of people who do the same. So, I would never carry a dollar coin.
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Bedrock of the Community
13014 Posts |
Quote:
I may be in the minority here, but I don't carry cash anymore, or a wallet. I have a $20 bill and a check as backup money in my phone case, and I pay for everything with a credit card. Literally everything. I'd say I use cash or a check maybe once a month, and I know a lot of people who do the same. So, I would never carry a dollar coin. I am the same. Unless they offer a cash discount it's actually cheaper to use a CC get the rewards and pay it off every month |
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Moderator
 Australia
16804 Posts |
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Should the mint stop making dollar bills and switch to dollar coins? If it were up to the Mint, they'd do away with the dollar note in a heartbeat. But it's not "The Mint" that makes paper money, it's the Federal Reserve - which is part of the problem. The Mint and the Federal Reserve are in effect competitors, rival manufacturers of America's money, and their rival products (the dollar coin and dollar bill) are allowed to compete on the open market of the American money-using public. So, next time you wonder why you've never gotten around to replacing the dollar bill with a dollar coin, you can blame capitalism. This also doesn't take into account the various vested interests and lobby groups. Paper money, for example, is historically supported by the cotton-growing regions (because the "paper" is actually made mostly of cotton), and senators from the cotton states always make sure they're well represented on any committee that is considering revoking the dollar bill, to ensure the discussion always gets killed off in committee. So, whether the dollar coin "should" or "should't" replace the bill is largely irrelevant; it isn't going to happen until the political situation in America radically changes. 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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Bedrock of the Community
13014 Posts |
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This also doesn't take into account the various vested interests and lobby groups This is highly over emphasized in small collecting communities. It is not a big enough issue for the money expenditure of a real lobbyist. |
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Pillar of the Community
United States
4333 Posts |
I use cash, rarely use "the mark" except for an online purchase now and then. Paper, not coin, for me. Easier to carry. I grew up when Ikes and Kennedy halves were sometimes carried. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Rest in Peace
United States
18456 Posts |
One Dollar coins never circulated the way they were supposed to . The different sizes through out the years had no influence at all . I say keep the dollar bill . Not stating this as a coin collector or currency collector . I'm looking out for the general public .  |
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Pillar of the Community
Canada
9149 Posts |
The ONLY way the dollar coin will work is to pull all paper bills from circulation, we did it and it worked.
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Bedrock of the Community
United States
17884 Posts |
Quote:They were not favored by the public due to their large size which resulted in the smaller SBA dollar in 1979-1980 (another failed attempt). Which would have succeeded if they had discontinued the dollar note. Quote:
I also hear the buying power argument, which made me wonder, would the public use a $5 coin?
Yes, if the $5 note was discontinued. Quote:
The only way the public will accept a dollar coin is through brute force. Not so much brute force, just by removing a alternative option. Although Basebal is probably right, there would be more rapid increase in the use of debit cards or other forms of electronic payment. |
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Valued Member
United States
456 Posts |
Conder
I guess it's semantics. I would characterize eliminating the folding dollar that the public prefers, in order to leave the clunky coins as the only option, a way to force people to do what they don't want to do. To me that is brute force. Maybe there's a better way to put it. But that's why I chose the words I did.
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Pillar of the Community
United States
4211 Posts |
I'm with the ones that say we already have billions in storage.
No telling what it is costing to pay for it.
Pull them out and use them. We will adapt....
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Bedrock of the Community
United States
36415 Posts |
The Federal Reserve is most likely the reason for not switching.
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Pillar of the Community
United States
2520 Posts |
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Which would have succeeded if they had discontinued the dollar note. (((The Ike dollar would have succeeded also if the dollar note would have been discontinued. Doesn't change the fact that the SBA was too similar in size & color as the quarter))) |
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Pillar of the Community
United States
5825 Posts |
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Moderator
United States
187446 Posts |
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Replies: 70 / Views: 6,459 |
First Page
Posted 11/22/2018 10:41 pm
