House Wants To Eliminate $1 For Brass Bucks

I doubt this bill will pass. Besides, does anything actually become law these days with all the inter and intra party bickering.

I'm somewhat split on the issue. I don't really like our dollar coins, but at the same time I can see how this could save money. I'm sure after a few years it would seem like second nature to just carry a few dollar coins around.

I cannot understand why the United States government does not see the elimination of the dollar bill as a way of saving money. Dollar coins can last an estimated 22 years in circulation, while the dollar bill has a shelf life of approximately 18 months. Plus we have such an abundance of dollar coins sitting in the Federal Reserve collecting dust. If dollar coins were placed into circulation, people would adjust just like all of Europe did when the Euro was introduced. In tough economic times every dollar saved should count.

If the dollar was eliminated and the two dollar remained would half as many need to be printed? Would that save us money? I really doubt it. I suspect the two dollar would just be the new one dollar note and we would still print just as many.

A one dollar coin by itself is not the answer. The two dollar would need to be eliminated and two new coins would need to be minted: a new three dollar and a new five dollar coin. If the public didn't use the new coins (and they wouldn't) eliminate the five dollar note as well.

Simply removing the one dollar note wont do it.

For all intents and purposes, they quit making halves. People dealt with it.

Quit making paper $1, and we'll cope. Make more $2 (or a $2 coin), and the "pocketful of coins" argument is gone.

I thought the sun came up in the west in the southern hemisphere...



:)

I like the shield, but we should have retired Lincoln... 100 year Tour of duty must be exhausting.

I posted this in similar topics. I used to live on the Canada border. Banks there told me they could not believe the US was going to be stupid and adopt a $1 coin (then Sacagawea). The people continually cashed in Loonies for larger denomination bills (to avoid heavy pockets), and it cost the bank a lot more to ship massive amounts of the Loonies they took in to get larger bills. it is cheaper to ship 1 M bills than 1 M dollar coins. So the ;little man on the street ended up not getting a lot of larger bills either and heavy pockets were the result.

The psychological aspect of this idea though is the one that's the worst. When a dollar becomes the next "quarter" and is seen as pocket change, guess what happens to all of the prices on everything? Why are people so wanting to have to spend more money? Prices DID go up in Canada when thy eliminated the $1.00 bill. And since the dollar just became "pocket change," they had to issue the two dollar "Toonie."

Over the long run this may save $184 M as they say, but if you see the figures for what we taxpayers put out every year for illegal aliens - this is not that much money. It also seems to me that the almost certain price raises in everything (as shown in the Canadian example) would, collectively, take a lot more away from us, collectively, than the $184 M we'd be "saving" collectively. Let's focus on doing something that the majority of Americans want, and will show large results, rather than work to change a concept proven to be what the majority of Americans do not want. Let's save money by getting rid of the bureaucrats - we'd save way more than 184 million!

And, also, as a very patriotic American, I do not believe just b/c "everyone else is doing it" is a good, or even a valid reason. If this paradigm had dominated our nation from its inception, the world would never have been able to reap from the benefits that history proves came from our individuality and pioneering spirit. If they want it - let them do it. What does that have to do with me?

. Sorry, but you're Clewless. I've done the math, and the coins and bills take up almost identical space when new, crumpled bills take up more space. The coins are about 8 times as heavy. A typical register till will easily hold $100-200 in dollar coins.

When you go through 2000 bills, do you put them in the register at the start of the shift? Of course not, and you wouldn't do it with coins, either. You bring them in as needed, the same as you do with coins and bills today.

Armored car? Does $2000 in coins present any more of a risk than $2000 in notes? Of course not. If anything, their weight would make them harder to grab and run.

Sorry to burn your straw man.