Congress (Over)reacts To $1 Coin Hoard

Yes but it will save the Gov't money to make coins than bills because coins circulate longer whereas bills last for a few years.
It's not about the design of the coin, but about the usefulness.

Those bills were just introduced and haven't even been sent to their various subcommittees yet. Unless it's some sort of emergency, or the hobby-horse of a powerful political lobby, bills like that take years to worm their way through congress, get amended, get attached to other bills, get removed, get changed, are subjected to hearings, public feedback, and so on.

By the end of it, it'll be an amendment to an AG subsidy bill mandating that the manganese content of the coins be increased by 2% and the that copper content must be purchased from mines in Nevada.

You can bet which ever senator has the paper mill that makes the $1 bills in his district will fight to the end to save the jobs and tax money. I know the other denominations will still be made but some jobs would surly be lost cutting out the $1 bill. Until they can get him and his buddies to vote the $1 out it may not happen. You know how it works,you vote for me I vote for you,but if you don't vote my way me and my friends won't help you next time. It's not about doing what is right for the country, it's about looking good in your district to get re-elected.

Stop making the dollar bill?

So we like the idea of our elected officials to be able to force the US people into using something the majority of people in the States have overwhelmingly rejected (as portrayed in the news article)? Why is this a good thing?
1. B/c it saves money...

Oops...
Some research will show it is NOT taxpayer money that funds the mints. So no taxpayer money is wasted. Minting and printing are a profitable business which pays for itself many times over.

They are our elected officials that are supposed to do the will of the majority. We have clearly said N-O. It is up to them to listen to us since they are supposed to be working for[/] us[/] - [u][b]not dictating to us! Why are we clamoring for the government to coerce us against our collective will?

2. B/c other countries use them successfully and like them...
Oops...
Canada had them rammed down their throats and the initial reaction/acceptance was not good. Retailers took advantage of the situation by raising the pricetag on everything b/c he dollar coin was relegated to the position of pocket change.
I have been told by quite a few banks in Canada that they do not like exchanging the dollar coins coins b/c the cost of shipping metal in to be exchanged for larger bills is a whole lot more than shipping in small denomination paper bills.

The result is the little people get stuck with too many in their pockets. The Two dollar coin was made and helped alleviate the carrying around of so much pocket change. Except you still have more change in your pocket after using the Toonies.

This info comes to me from being very much associated with Canadians and Canada all of my life. This is not just my opinion.

We need to learn from countries that have gone to a dollar coin to see what the truth about it is and ignore our personal feelings about the coins. We also need to be thankful that our government has not yet been oppressive enough to force us to their whims (in this area).

What next - start cheering the government on to force restaurants into serving only vegetarian meals?

BTW - I actually don't hate the dollar coins. I just have seen what will happen and do not like the ramifications. How I initially came to understand all of this was by (on trips where I was visiting my Canadian friends)stopping at banks just to get some of their half dollars and dollar coins b/c I liked them!

Umm, for starters, our representatives are not their to do the "will of the majority". That socialist majority rules democracy crap is for the birds. That's where 51% get to legally rape and pillage the other 49%. Where 1/3 of the population gets voted into slavery by the other 2/3 of the population. This country is was a Constitutional Republic. Now were not, and look at the mess were in...

But I digress.

Can you quote a source that shows where the treasury dept. is making money from printing paper notes like the mint is from minting coins? I'm not saying your wrong, I honestly don't know, so I ask.

Even that has to be taken with a grain of salt. A specific dept. may or may not run a profit. But the other government depts. involved in the process may not. So on a whole, what is the whole cost to the government?

Even the government admits it is more economical to issue dollar coins than dollar notes for circulation...

Taking a look at the production figures for 2010 alone and the estimates given by the BEP, we see that 1,856,000,000 $1 notes were produced that year. Now, if 95% of notes are printed simply for purposes of replacing defunct currency, that means that the BEP is only introducing 5% of its production as new currency. If we conclude that the government (somehow) "makes" $1 for every note that is introduced into the economy, then $92.8 million was "made" in 2010.

The overall cost per note, however, is 9.6 cents per note. Now, we can say, "Wow! The government introduced $92.8 million at a cost of only $8.9 million...that's $83.9 million profit!" But, we must determine the cost of all of the $1 notes produced. At a production of 1,856,000,000 notes, we have an overall cost of $178,176,00! That is the cost to introduce only $92,800,000 into the economy.

That's a cost of $1.92 for every new $1 introduced! That's as bad as the one cent coin! Something to think about...


You can see all of the figures at the BEP website at http://moneyfactory.gov/uscurrency/...figures.html

Only in America, having a hard time doing basic things that us Aussies don't even think about.