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Dollar Coin Actually Worth A Dollar.

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Pillar of the Community

United States
1026 Posts
 Posted 09/08/2008  7:58 pm Show Profile   Bookmark this topic Add Brucec to your friends list Get a Link to this Message Number of Subscribers
I sure would like to see the government start making a circulated dollar coin that is actually worth one dollar or close to it.

Like the silver dollars they use to have when money was worth some actual value sure would be nice to see again.

Maybe a copper dollar or small silver dollar.

Would sure e nice knowing you have something of actual value again.
Valued Member
United States
227 Posts
 Posted 09/08/2008  8:20 pm  Show Profile   Bookmark this reply Add coinsrus to your friends list Get a Link to this Reply
The problem is that they would all be hoarded and melted. You'd never see one in circulation.
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nod2003's Avatar
United States
3294 Posts
 Posted 09/08/2008  8:36 pm  Show Profile   Bookmark this reply Add nod2003 to your friends list Get a Link to this Reply
and we see so many of the current dollar coins in circulation...
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Sap's Avatar
Australia
16829 Posts
 Posted 09/08/2008  9:06 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply

Quote:
...circulated dollar coin that is actually worth one dollar or close to it...

The main problem is keeping the dollar pegged to the value of that amount of metal. Because in today's modern economy, the vast majority of dollars won't be made of the metal (they'll be electronic, or paper), and the vast majority of the supply of the metal won't be in the form of dollars. It would require constant government intervention to keep the two values at parity. And once the "bullion value" exceeded the face value, no amount of government intervention could stop the mass exportation of the coins to countries with currencies that weren't tied to the metal.

In short, the benefits gained from full intrinsic value coinage are far outweighed by the costs.

Not that it hasn't been tried elsewhere. Mexico tried to reintroduce circulating silver coins in the early 1990's, in an attempt to stem the falling value of the peso. It didn't work, and after only a few years the experiment was aborted. And this was in a country where the silver mining lobby is far more powerful than anywhere else in the world.
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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Elimist's Avatar
United States
632 Posts
 Posted 09/09/2008  01:35 am  Show Profile   Bookmark this reply Add Elimist to your friends list Get a Link to this Reply

Quote:
and we see so many of the current dollar coins in circulation...


I actually get about three to four dollar coins a month in circulation. And I'm not talking about from the bank either. It is in no way a substitute for the paper dollar but I still think its enough to call it 'circulating'. But I also realize that most people never see these coins in circulation.

Silver values are too volitile to make a silver coin and affix it to the price of a dollar. Right now a silver dime is 87cents of silver, but only a couple months ago It was like 1.60 for a silver dime. And making a copper dollar? The coin would be the size of a hamburger bun.
Edited by Elimist
09/09/2008 02:25 am
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daviscfad's Avatar
United States
4541 Posts
 Posted 09/09/2008  01:38 am  Show Profile   Bookmark this reply Add daviscfad to your friends list Get a Link to this Reply
I wish they would make a 20 or 25 dollar silver coin for circulation... Probally 25 dollar b/c silver will probally go back towards 20.00 soon and they would have to stop production
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jbuck's Avatar
United States
188440 Posts
 Posted 09/09/2008  10:46 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
The main problem is keeping the dollar pegged to the value of that amount of metal. Because in today's modern economy...
I agree, the days of bullion based/backed currency are long gone. It is government shenanigans, not fiat currency, that prevents us from having a sound economic policy.
Edited by jbuck
09/09/2008 10:48 am
Bedrock of the Community
United States
20753 Posts
 Posted 09/09/2008  12:49 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
One of the problems is just what is a dollar's value for real. Don't forget not to long ago for a dollar you could buy a bag of groceries or about 3 gallons of gasoline. At one time a new car was less than a thousand dollars of the dollar at the time. A dollar's value is confusing when you think about how so many items have changed in prices, compositions, avaiabilities, etc. Some would say to make a dollar coin that is worth a dollar it would have to be a foot in diameter if made of one type of substance and the size of a pin head if made of something else. Regardless of how big it is, what it is made of, how many are minted it will only buy a pennies worth of somethings and many dollars worth of something else.
People do compare the price of a car in the 50's for example with today. But they forget no power steering, power brakes, lights that go on at night by themselves, hundreds of speakers all over the place or so it sounds when your in traffic next to a kid. Disc brakes, AM/FM/CD players, Tinted glass and power windows and door locks. Heated seats and mirrors.
That is the problem. What is a dollar really worth? How to compare it with anything?
Of course none of this matters since in the near future there will be no need for coins or currency. Everything will be electronic.
Imagine a criminal in the year 2135 robbing a store and having to first enter his password.
How about those beggars on the street corners when you hand them a dollar coin and they throw it back at you saying what the heck is this?
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eaglefoot's Avatar
United States
6326 Posts
 Posted 09/10/2008  1:17 pm  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply

Quote:
Of course none of this matters since in the near future there will be no need for coins or currency. Everything will be electronic


Well........if that big asteroid hits the Earth, then all of our worries are gone !......
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jbuck's Avatar
United States
188440 Posts
 Posted 09/10/2008  1:52 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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Well........if that big asteroid hits the Earth, then all of our worries are gone !......
Speak for yourself. I have a warp capable starship parked on the moon!
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KurtS's Avatar
United States
5318 Posts
 Posted 09/10/2008  2:41 pm  Show Profile   Bookmark this reply Add KurtS to your friends list Get a Link to this Reply

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if that big asteroid hits the Earth, then all of our worries are gone!
I'm betting on a platinum group asteroid. I've already filed my mining claim. The earth might be a smoking crater, but I'll be rich! (a bit of dark humor--sorry!)
Edited by KurtS
09/10/2008 3:05 pm
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jbuck's Avatar
United States
188440 Posts
 Posted 09/10/2008  3:09 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Sad, but true. Unfortunately, this world has many people willing to sell the air we breathe just to make an extra buck.
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MorganNoob's Avatar
United States
533 Posts
 Posted 09/10/2008  3:32 pm  Show Profile   Bookmark this reply Add MorganNoob to your friends list Get a Link to this Reply

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Sad, but true. Unfortunately, this world has many people willing to sell the air we breathe just to make an extra buck.


? It is for sale? Who is the buyer? Isn't the air I breath the same as the air they breath? I have some premo air around here, priced to sell... Takers? Msg me for more info.

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KurtS's Avatar
United States
5318 Posts
 Posted 09/10/2008  3:40 pm  Show Profile   Bookmark this reply Add KurtS to your friends list Get a Link to this Reply

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I have a warp capable starship parked on the moon!
Hey, that's my parking lot...I'll send you a bill.
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jbuck's Avatar
United States
188440 Posts
 Posted 09/10/2008  5:07 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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Hey, that's my parking lot...I'll send you a bill.
Perhaps you are confusing my ship with the Vulcan one that has been squatting your spot since the fall of '66?
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KurtS's Avatar
United States
5318 Posts
 Posted 09/10/2008  5:14 pm  Show Profile   Bookmark this reply Add KurtS to your friends list Get a Link to this Reply
Sigh, yeah. They've been camping out ever since their big "Logicpalooza"
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