Coin Community Family of Web Sites
Shop CCF Members on eBay! Royal Canadian Mint products, Canadian, Polish, American, and world coins and banknotes. 300,000 items to help build your collection! Coin, Banknote and Medal Collectors's Online Mall Vancouvers #1 Coin and Paper Money Dealer Specializing in Modern Numismatics Shop for APMEX Bullion on eBay!








Username:
Password:
Save Password
Forgot your Password?


This page may contain links that result in small commissions to keep this free site up and running.

Welcome Guest! Registering and/or logging in will remove the anchor (bottom) ads. It's Free!

Is It Time The US Minted Bimetal Coins?

To participate in the forum you must log in or register.
Author Previous TopicReplies: 17 / Views: 2,897Next Topic
Page: of 2
Pillar of the Community
snowman's Avatar
United States
1840 Posts
 Posted 04/19/2009  11:37 am Show Profile   Bookmark this topic Add snowman to your friends list Get a Link to this Message Number of Subscribers
Poll Question
Many countries mint their higher denomination coins using bimetal planchets. Do you think the U.S. should mint bimetal coins too?

Poll Choices
 Yes
 No

Pillar of the Community
augsburger's Avatar
Germany
1062 Posts
 Posted 04/19/2009  11:50 am  Show Profile   Bookmark this reply Add augsburger to your friends list Get a Link to this Reply
The economic situation means it makes sense to have higher denomination coins. Most rich countries do. Notes cost more to circulate because they get old quickly, coins are still around from the 1920s.
All the US govt needs to do is to take $1 out of circulation. Maybe they are doing this, because there does not seem to be a new design for the $1 bill, but you never know.
How much money would you save as tax payers.

The Euro has the highest coin at over $2
The UK has a coin that was worth, a short while ago $4, no around $3.
And the US has a highest properly used coin at 25 cents.

This is almost on par with countries like Ukraine and Romania which have small notes. I am not even sure if any of the top 20 countries in the world actually have their highest coin this low, and their lowest bill so low.

Also it would look good. And something new! Shock horror, did I mention something new?
Bedrock of the Community
DVCollector's Avatar
United States
10045 Posts
 Posted 04/19/2009  12:47 pm  Show Profile   Bookmark this reply Add DVCollector to your friends list Get a Link to this Reply

Quote:
All the US govt needs to do is to take $1 out of circulation. Maybe they are doing this, because there does not seem to be a new design for the $1 bill, but you never know.
How much money would you save as tax payers.

For our $1 to get large-scale use, we need to end the $1 note, simple as that. There is no reason to make these, as they wear out very quickly. We could even do a $2 or $5 coin--probably bimetal to thwart counterfeiting.
Bedrock of the Community
United States
10284 Posts
 Posted 04/19/2009  1:01 pm  Show Profile   Bookmark this reply Add TNG to your friends list Get a Link to this Reply
Wouldn't it be neat to have them make the bimetallic centers have silver content in them too?
These would be hoarded of course unless they absolutely replaced the paper money with them. Then we would be forced to use them in commerce when using cash.
It would increase the value of or dollar globally and help the economy. It would also make our paper currency collections more valuable and the modern coinage more collectible.
Moderator
Learn More...
vermontensium's Avatar
United States
16677 Posts
 Posted 04/19/2009  1:05 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply

Quote:
We could even do a $2 or $5 coin--probably bimetal to thwart counterfeiting.


I'd say slightly larger than a Quarter, possibly aluminum to make it light for carry. Just a thought. The only thing is, I don't know anyone who has a pocket full of Sac's on a regular basis. Why would this be any different
swcoin.ecrater.com
Bedrock of the Community
DVCollector's Avatar
United States
10045 Posts
 Posted 04/19/2009  1:18 pm  Show Profile   Bookmark this reply Add DVCollector to your friends list Get a Link to this Reply
A few of our coins could use a downsizing, which probably explains why halves never saw much use (at least during my lifetime)
I cannot imagine ever using an Ike $1.
Moderator
Learn More...
vermontensium's Avatar
United States
16677 Posts
 Posted 04/19/2009  1:20 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
Ike's, great collectible coins but in commerce, useless
swcoin.ecrater.com
Pillar of the Community
Irishraider's Avatar
United States
1454 Posts
 Posted 04/19/2009  4:19 pm  Show Profile   Bookmark this reply Add Irishraider to your friends list Get a Link to this Reply
I agree with DVCollector that if the $1 bills are not taken out of circulation there is no $1 coin that would ever be used much in commerce. I don't see what the big deal would be taking the bill out of circulation. Stop printing them and when they are deposited into banks they are never given back out but $1 coins are given out instead. Simple as that. Bye Bye Greenbacks.

P. S. As far as the material of the $1 coins I think the Sacs and Presidential dollars as they are would be more than fine enough. Maybe put in a dollars worth of silver for value. Just an idea.
Edited by Irishraider
04/19/2009 4:20 pm
Valued Member
Jim Archibald's Avatar
United States
198 Posts
 Posted 04/19/2009  4:24 pm  Show Profile   Bookmark this reply Add Jim Archibald to your friends list Get a Link to this Reply

Quote:
We could even do a $2 or $5 coin--probably bimetal to thwart counterfeiting.

This hasn't helped in Canada which is now being plagued by counterfeit Twoonies. ~ Jim
Pillar of the Community
wd1040's Avatar
United States
3098 Posts
 Posted 04/19/2009  4:54 pm  Show Profile   Bookmark this reply Add wd1040 to your friends list Get a Link to this Reply
Nope, if I had my way, we would have 50c notes, too.
Pillar of the Community
DNA's Avatar
United States
2734 Posts
 Posted 04/19/2009  7:57 pm  Show Profile   Bookmark this reply Add DNA to your friends list Get a Link to this Reply

Quote:
"I cannot imagine ever using an Ike $1."


The problem with the Ike is that coin was 38mm in diameter
like the old Silver Dollars, but didn't have the purchasing
power that the old Silver Dollars did. The Ike would have
to have been a $5 denomination in 1971 to have the same
purchasing power as a late 1800's Morgan dollar.

A 38mm circulating coin would now have to be $20 to have the
equivalent in purchasing power to the late 1800's Morgan.

BiMetal would allow a 90% silver core for such a coin (like
the 2005 Mexico 100-Peso Commmemorative business-strike
39mm coin with the 92.5% silver inner section).
Edited by DNA
04/19/2009 8:00 pm
Pillar of the Community
eaglefoot's Avatar
United States
6326 Posts
 Posted 04/20/2009  08:29 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
It's a shame that all of our opinions mean absolutely nothing to the people who decide these things...

Many believe that the "attempts" of the Govt. putting out "Dollar coins" were steps to going that direction and eliminating the "paper Dollar" Federal Reserve Note ....F.R.N.
The Sacagawea isn't N.I.F.C. for the first time in a few years....combine that with the Presidental Dollars up and running despite the public's disinterest in their daily use. And with both programs scheduled for quite a few years yet in the future, they are "trying" hard to get these "out there" and accepted by the American people in everday commerce/transactions.
The Suzy B. looked too much like a quarter in color, shape, and size....so they made the new idea $1.00 coin "gold colored" and kept it at 26.5 mm, a little larger than a quarter....but STILL does not circulate !.....they just need to remove "the choice" and take the F.R.N. out of circulation.
So, I have a feeling that at the end of the Presidential dollar run and the end of the Sac. run, that this is roughly around when they will begin to "actually try" to announce the end of the $1.00 F.R.N.
Because at this time, there will be BILLIONS and BILLIONS of these Dollar coins sitting in banks and the Fed. Resv. waiting to be dispersed when the need is there. This transition will ensure their eventual use (they hope). Because when the choice is removed, and that's all you have are dollar coins and no F.R.N.'s......then there you go.
The $1.00 F.R.N. could be phased out of use rather quickly this way.
And all of these much hated Dollar coins that are sitting in BU condition everywhere by the Billions and Billions will then be circulated quite well.
Not sure if the Presidential Proof Sets will still ever be worth much even after this happens sometime after the year 2016, but as long as we have fun along the way right ?.....
Edited by eaglefoot
04/20/2009 09:11 am
Pillar of the Community
manila galleon trade's Avatar
Spain
1361 Posts
 Posted 04/20/2009  08:56 am  Show Profile   Bookmark this reply Add manila galleon trade to your friends list Get a Link to this Reply
I would love to see a bimetal coin from the US. I don't think it will help in repplacing the banknotes as the bimetal for sure will just go to collectors album.
Valued Member
SPQR's Avatar
United States
327 Posts
 Posted 04/20/2009  09:32 am  Show Profile   Bookmark this reply Add SPQR to your friends list Get a Link to this Reply
I know I've seen something somewhere (I thought it was here) that there were some tests carried out by the mint on Bi-Metallic planchets that had an astronaut on one side. Apparently they worked out OK, but went to the golden dollars for some reason.
Until the 1 dollar note is withdrawn (and don't look for that to happen soon- the company that makes the paper is in Massachusetts, so there is some serious political pressure against discontinuing it)the $1 coin will continue to be a little used item.
The Bi Metallic coin would be a perfect $2 piece, preferably with Teddy Roosevelt on one side and a jolly big eagle on the other.
Pillar of the Community
Gothic Florin's Avatar
United States
2541 Posts
 Posted 04/20/2009  12:57 pm  Show Profile   Bookmark this reply Add Gothic Florin to your friends list Get a Link to this Reply
With the current defecits we have, it seems crazy to keep printing paper money that only lasts 18 months, when coins would last for 25 or 30 years. I would like to see the math on how much could be saved with this!
Moderator
Learn More...
jbuck's Avatar
United States
187678 Posts
 Posted 04/20/2009  1:15 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Do you think the U.S. should mint bimetal coins too?
Yes. At the very least the two dollar, and possibly a five dollar as well. Of course, it will only work if we quit printing the corresponding Federal Reserve Notes. A lesson still unlearned with the dollar coins.

Quote:
Nope, if I had my way, we would have 50c notes, too.
Only because you are the King of Note Collectors!
  Previous TopicReplies: 17 / Views: 2,897Next Topic
Page: of 2

To participate in the forum you must log in or register.



    




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2026 Coin Community Forums
It took 0.44 seconds to rattle this change. Forums