| Author |
 Replies: 24 / Views: 1,949 |
|
Rest in Peace
United States
2884 Posts |
Well this one has been rattling around my brain for years. Why are we so reluctant to change to One and even Two Dollar Coinage? I spent weeks on Vacation in Canada and had no trouble adapting to the coins. I know design may have caused some of our past failure's but what do you folks think? Is it true that we would save millions of dollars in production costs due to coin longevity? Do you think the Fed's have ever really made an effort to get it off the ground? Tailing on this,how often do you use half's in daily transaction's? When I use them from time to time most tellers look at them in digust and throw them under the drawer! (almost as welcome as our current $1.00 coinage!)  Mike |
|
|
|
Valued Member
United States
382 Posts |
Ahhhhh...one of my favorite topics because when something makes sooooo much sense to me, I can't seem to let it go. Hence my passion for this subject matter. 1.) It cost U.S. engraving & printing over $500 million per year to produce $1 bills that last an average of just 16 months before they are destroyed. 2.) A dollar coin would cost around 12 cents each to produce...BUT...would easily last 50 years or better. 3.) US Banking industry along with the paper lobbying group has a lot of pull in Washington. Banks will complain about weight and space requirements (as they did with Morgans in years past). The paper industry is not about to walk away from these rich government contracts without a fight. 4.) As you stated, Canada, as well as Europe, replaced their paper dollar with dollar coins. YOU CAN'T HAVE BOTH! Otherwise, people will go about their business as they always have and will NOT use the dollar coin. Now people in Canada and Europe balked at first, but quickly adapted to the coin and soon it became 2nd nature for day to day transactions. 5.) Designs. The ugly mug and size of SBA (which was very close to a quarter in size and often mistook as a quarter) was a disaster. The golden dollar size and color is perfect...BUT they put a teenager on the obverse carrying around her kid. The Reverse looks great, but we should have had this on the Obverse (or something close to it): http://home.earthlink.net/~smalldol.../2000ml.htmlMost Americans hate change in their money. The government spent $20 million in an ad campaign just educating Americans about changes to the $20 bill in recent years. Could you imagine the uproar if they get rid of the paper $1 altogther? It all makes too much sense, but we will keep printing those bills that pretty much will be destroyed in less than a year and and half at the tune of $500 million per year! Then we will do something stupid as depicting ALL of the Presidents on our dollar coin from Washington to Fillmore to Coolidge to Clinton. And Congress again will later ask: "How come nobody is using the dollar coin?" Idiots... Edited by zakgold
03/23/2005 08:33 am
|
|
Pillar of the Community
United States
2724 Posts |
Zak you are close, but a few things are off a bit. It takes about 19 cents to make a dollar coin and they last about 38 years. I do however agree that it makes more sense to use coins. They far outweigh the bills. Now the arguement for keeping the $1 bill. One it is easier to carry. This is true for 99% of the people. Yes waitresses and dancers and a few others will have issues, but we are supposed to take care of the masses, not the few. Arguement number 2. Americans don't like change. This is the biggest crock of garbage to come down the pike. People love change, and they even demand it in everything but our currency. For 100+ years the Mint and BEP cranked out design changes and people accepted it. The only major change that required public awareness was the small size notes in 1928. Banks were given mock up bills to post in public view. Our elected leaders have spent millions of dollars promoting failed dollar designs, new looks on our currency and none is necessary. Does anyone know of anyone that looks at a Statehood Quarter and says "What is this?" Now I realize that most people have no clue what is happening in life, but nobody is this stupid. We as a nation placate the stupid people and use countless excuses as to why we can't do something positive. When Canada and Europe removed the dollar bill, everyone got over it. Life did not come to a screeching halt. The major problem here is that no elected leader has figured out how to put a dollar in their own pocket. Once they figure that out, we will see the end of the dollar bill. |
|
Rest in Peace
 United States
2884 Posts |
zakgold...Now, tell us how you really feel!!!!! Seriously,thanks for the detailed response. Any idea's what us little peons can do to lobby for this change?!!! You and ND did not comment on the Kennedy half?ND,you had me going there when you said "people don't like change" at first I thought you mean't the little round kind!Duh! Edited by Mike
03/23/2005 09:36 am
|
|
Valued Member
United States
382 Posts |
Did not know about the 19 cents and 38 years... I assumed (and we all know about that word) that just because I see Quarters from 1965 still holding their own, that a dollar coin would stand up just as well. Still 38 years, 40 years, or 50 years is a good run for a circulated coin that probably will look in VG condition afterall all of the wear and tear. We may like change, but to implement it is another issue. The banks will have a cow and will lobby the Fed NOT to do it. I like to tip in SAC dollars as my breakfast place calls me the "golden" tipper. I wonder how many of those SAC's I used as tips are being hoarded because many think they are worth more than a dollar? We like changes to our nickel, our State Quarters, etc., BUT...eliminating the dollar bill in lieu of a dollar coin!?! People will take to the streets (not literally), but close to it. And yes, Canada and Europe did the right thing when they removed the $1 paper bill...however, they are many here (like me) that don't look to Europe for answers. But I will acknowledge they definitely got this one right. I like the Kennedy half...BUT...(is there always a but?)...it's size and weight are the issue for your cash drawers. It weighs 11.3 grams and the SAC weighs about 8.1 grams. That is over 25% heavier. Also it size compared to the SAC is almost 17% larger. Banks are always crying about vault space, S&H. Edited by zakgold
03/23/2005 09:48 am
|
|
Pillar of the Community
United States
4868 Posts |
I also prefer to have one and two dollar coins as Canada does. Makes more sense to me. Though I admit, the ones I got in change I kept!
David
|
|
Pillar of the Community
United States
2724 Posts |
The Kennedy half is another worthless coin being minted daily because the Fed is too stupid to realize that Americans don't use half dollars. They mint cents by the billions yet the halves and dollars are only made for collectors. Makes me wonder if we in the hobby are the ones that need a check up from the neck up. Our elected leaders could easily remove the $1 bill. They just don't know how to make money off of it yet. Our elected leaders obviously have more important things to do with their time. They are now in an emergency session deciding the fate of brain dead women in Florida. No matter which way you feel in this debate, congress is not there to dictate our daily decisions. Somewhere along the lines, we as a nation have failed to realize that we are supposed to make decisions. Our leaders pass the same old laws over and over again. We currently have 3600 different laws on guns. We have 400 laws regarding drinking and driving. We have 700 laws on seatbelt use. The list goes on and on. No elected leader wishes to stand up and make a decision. They are afraid of anything that will cause them not to be re-elected. They take polls of a few thousand people and think this must be the way that it is. When it comes to coins, the answer is simple. The statequarters and discovery nickels are the hottest things to come along in most of our lifetimes. There were no million dollar promotions, no TV ads, no silliness involved, just plain and simple change. 1 out of 3 Americans are collecting these coins. How much more proof does anyone need to realize that change is a good thing. People love it. So how can we change the future? Simple enough. Gather enough people and take the fight to congress. Most get a few hundred online signatures and never do anything with it. Until a leader is ready to make something happen, we will have to wait until congress figures out how to make a dollar for themselves. |
|
Pillar of the Community
United States
2724 Posts |
I guess that it isn't much of a surprise as to why I cannot get a congressmens support to be on the citizens coin commitee. Maybe I am not clear enough in my views of our elected leaders ability to make a decision. Maybe I should READ a book on "How to make friends and influence people"  Edited by national dealer
03/23/2005 10:01 am
|
|
Rest in Peace
United States
2884 Posts |
ND,I must say you are subtle....LOL
|
|
Pillar of the Community
United States
2724 Posts |
Like a brick in the forehead I have been told many times |
|
Pillar of the Community
United States
1151 Posts |
quote:
Originally posted by national dealer
... One it is easier to carry. This is true for 99% of the people. Yes waitresses and dancers and a few others will have issues, ...
ND, How do you know about dancers and one dollar bills ?  |
|
Valued Member
United States
157 Posts |
My understanding is that much of the paper used in currency comes from a company in Massachusetts which has pretty effectively bought legislators to block any talk of eliminating the $1 FRN.
|
|
Valued Member
United States
382 Posts |
I am with ND...it is soooooooooooooooooooooo disheartening trying to convince our lawmakers that what we are stating makes too much sense.
|
|
Pillar of the Community
United States
2724 Posts |
The private company that makes the "paper" used for currency has to re-bid the contract every four years. However, since the paper is one of the tightest secrets known to man, the same company keeps getting the contract. Just another protected monopoly.
|
|
Pillar of the Community
United States
4868 Posts |
Maybe the the halves should be discontinued. They are rarely circulated anyways and there seems to be no intrest in them exept for collectors.
David
|
|
Valued Member
United States
307 Posts |
Well...my pick of all coins are halves but not the half that they are minting now...I think if the Feds would try and make a go at it they could make a good half and a dollar coin...
Speedy
|
| |
Replies: 24 / Views: 1,949 |
Posted 03/23/2005 09:27 am
