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 Replies: 40 / Views: 5,887 |
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Moderator
 United States
188770 Posts |
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I know that over the years of living near Canada, that many Canadian friends said the same thing. They felt they were "stuck with them"... Interesting, because my experience is the exact opposite. Every Canadian I have ever discussed this with has wondered why we still use small notes and/or won't use our dollar coins. Quote:
BTW - my only real aversion to the $1.00 coins is the aforementioned opportunity it gives our greedy society to price gauge everything upwards sine the price is "only a dollar - mere pocket change." It will happen if the sheeple start accepting these coins readily. The problem is that the dollar, regardless of form, is already mere pocket change. |
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Bedrock of the Community
United States
17884 Posts |
If you were talking to the backs around the time of the Sac dollar that might explain their comments about the dollar coin. The Loonie was introduced in 1987 and the paper note was phased out in 1988 or 89. At that time the Canadians seemed to accept it with just the initial grumbling. The twonie was introduced in 1996 and the two dollar note was discontinued almost immediately either in 96 or 97. At that point the banks DID have a serious problem with the loonies piling up in the banks because for some reason everyone was switching over to the twonie. I don't know why but it did happen so around the time of the introduction of the Sac dollar the banks were flooded with dollar coins. That was probably the source of the bankers comments.
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Pillar of the Community
United States
7840 Posts |
I got the nastygram from the US Mint over the weekend that my order (250 Native American dollars) was cancelled, and it was sent in PRIOR to 20 Jul 2011 "change of heart". Oh well, I will spend my (paper) dollars elsewhere. Edited by oih82w8
07/26/2011 4:25 pm
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Moderator
United States
188770 Posts |
U.S. GAO - U.S. Coins: Replacing the $1 Note with a $1 Coin Would Provide a Financial Benefit to the GovernmentQuote:
GAO has noted in past reports that efforts to increase the circulation and public acceptance of the $1 coin have not succeeded, in part, because the $1 note has remained in circulation. Other countries that have replaced a low-denomination note with a coin, such as Canada and the United Kingdom, stopped producing the note. Officials from both countries told GAO that this step was essential to the success of their transition and that, with no alternative to the note, public resistance dissipated within a few years.
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Bedrock of the Community
United States
17884 Posts |
So the GAO has finally come to the conclusion collectors have been telling them for 32 years. In a few more years, about the time the President dollar series ENDS, the government will probably finally get around to acting on it. (And when they do they will probably create a NEW dollar coin even though they'll have a couple billion in storage. And the new dollar will probably be incompatible with the older ones.)
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Pillar of the Community
United States
1358 Posts |
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how many collectors want to rush out and get the Rutherford B Hayes dollars? Well, he does have a cool beard  lol |
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Valued Member
United States
410 Posts |
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So the GAO has finally come to the conclusion collectors have been telling them for 32 years.... The Government Accountability Office has always know that replacing the paper dollar with a dollar coin would save money. As stated in the link, the GAO has been asked to do the analysis 4 times in the past 20 years with the same result. It is Congress that refuses to stop printing paper dollars. |
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Pillar of the Community
527 Posts |
So Congress and the Government believe that removing the dollar bill and replacing it with coins saves money, but yet, they still have NOT changed the metals in pennies and nickels?
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Pillar of the Community
United States
4132 Posts |
The mint made test aluminum cents in 1974 and we didn't get a composition change until 1982. That's moving pretty fast by Congress standards. You need a 75-vote super-majority to pass gas in the Senate.
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Pillar of the Community
527 Posts |
But there was a pretty fast change after 1964 when silver was removed.
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Replies: 40 / Views: 5,887 |
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Posted 07/25/2011 2:44 pm
