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 Replies: 46 / Views: 4,550 |
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Pillar of the Community
United States
4867 Posts |
An interesting read in the new issue of Coin World Magazine. To me it makes no sense producing these coins when nobody is using them. They are just sitting there in a vault.. 857 million of them, which is a 12 year supply! And it really irks me that so many of these things must be produced in accordance with the law even though there is virtually NO demand for the $1 coins. Talk about pork spending! As I have said many times, I like the idea of using dollar coins but until the paper notes are eliminated, it is a futile cause. I highly recommend the article, its on page 7. |
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Valued Member
United States
436 Posts |
They just need to stop printing bills. We're the last developed country that has a bill as small as the $1. It's too expensive...just stop the presses!
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Pillar of the Community
United States
2589 Posts |
I wonder how many cheerios dollars are hidden in there.
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Pillar of the Community
United States
2734 Posts |
If the $1 note was eliminated, you'd need a large supply of $1 coins to replace it, like the 857 million of them in that vault! I vote for replacing the $1 note with the $2 note!  |
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Pillar of the Community
 United States
4867 Posts |
Let's look at this, there was little demand for nickels and dimes this year, hence a low mintage for those. However, millions of these dollar coins are being produced with little demand. It makes no sense at all. It's such a waste to spend so much on these when they aren't being used.
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Moderator
 United States
187702 Posts |
I have said it a hundred times before... I will say it a hundred times more... Stop printing the One Dollar FRN!  |
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Pillar of the Community
Canada
1082 Posts |
Exactly.
Unfortunately the dollar bill has outlived its usefulness, and its buying value is pennies compared to what it used to be.
Time to replace it with a coin.
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Valued Member
United States
272 Posts |
I agree it's time to do away with the dollar bill.
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Pillar of the Community
United States
2269 Posts |
I cannot believe the government feels the need to waste money with bills, when it clearly cost much more than dollar coins. You would think that someone in the new administration would see all this wasteful spending and put a bill forth, eliminating the dollar bill. There is just no need for it. People will get used to a Dollar coin real fast, especially if there isn't a dollar bill.
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Pillar of the Community
United States
4867 Posts |
True, but until then, there are millions of dollar coins sitting in a vault not being used and more that are coming off the presses.
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Pillar of the Community
United States
2541 Posts |
Bring out the $ coin and also we should do a bi-metallic $2 coin and a tri-metallic $3 coin!
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Pillar of the Community
United States
1283 Posts |
Ship them all to China to pay off some of our Debt.
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Pillar of the Community
Australia
2830 Posts |
could it be that $1 coins are being stockpiled in readiness for withdrawing the $1 note ?
Peter in Oz
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Moderator
United States
187702 Posts |
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Pillar of the Community
United States
1418 Posts |
Honestly, I'm shocked that so many of you want the one dollar bill gone. I would like to see bills and coins. I feel the one dollar bill should stay.
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Pillar of the Community
United States
2589 Posts |
The federal government has basically loaned itself 857 million dollars, as every one of those dollar coins was paid for by the fed and the money deposited directly into the treasury. Can you say inflation? lol
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Replies: 46 / Views: 4,550 |
Posted 12/21/2009 11:59 am
