End the dollar bill?

WACoinGuy · March 10, 2003 5:06AM

In my opinion, the reason the dollar coin has failed so miserably in this country is that we still have a dollar bill in circulation. Should we follow the lead of so many other countries and just stop printing the dollar bill?

MadMonk · March 10, 2003 5:28AM

No!!!!!!!!!
I like that they are light weight, easy to handle, and don't wear out my pants pockets.
Plus how am I gonna give the Hoochie Koochie girls a SAC in thier garters?????

smprfi · March 10, 2003 5:31AM

Put the coin in the slot.

littlewicher · March 10, 2003 5:31AM

I prefer the dollar bill. I probably prefer the dollar bill because that's what I'm used to. When the dollar bill came out, people didn't really use them that much because they were used to dollar coins. That changed when they stopped making dollar coins. It is true that the dollar coin did fail because we have paper dollars. Economically, the coins are so much better.

paigowjohnny · March 10, 2003 5:34AM

<< Should we follow the lead of so many other countries and just stop printing the dollar bill? >>

No...we should listen to the general public and quit wasting assets on dollar coins that nobody wants.

bulloncoins · March 10, 2003 5:34AM

The coins are too easy to fake!

flaminio · March 10, 2003 5:40AM

For me, the bottom line is the bottom line. Replacing the dollar bill with a genuinely circulating dollar coin will save the US Government (that is, you and me) $522 million per year. (Source).

Kill the dollar bill. And the cent, while you're at it.

LanLord · March 10, 2003 5:44AM

I wouldn't mind seeing the $1 bill go away. I rarely carry a bunch of one dollar bills, so the argument about carrying a bunch of one dollar coins is sort of meaningless. If I carry alot of money, it will be in larger bills.

Are they easier to counterfeit? Maybe, but you aren't going to get rich in this country by counterfeiting one dollar (bills or coins), go with $20s if that is your goal.

Kill the bill.

OneYearTypes · March 10, 2003 5:55AM

<< Kill the dollar bill. And the cent, while you're at it. >>

And also, why don't we eliminate the half dollar too, they're almost never in circularion anyway.

DCAMFranklin · March 10, 2003 5:56AM

<< Put the coin in the slot.

>>

Great answer!!

Yes, I'd like to see them create a NICE dollar coin and do away with the dollar bill. Makes tons of economic sense.

flaminio · March 10, 2003 6:27AM

<< And also, why don't we eliminate the half dollar too, they're almost never in circulation anyway. >>

As long as there's demand from casinos, the half dollars stays. AFAIK, they are the only ones using it on a regular basis (aside from coin collectors).

MadMonk · March 10, 2003 6:34AM

You know, I could probably deal with a dollar coin, but all the factors that have to be dealt with make broad acceptance iffy. The govt saving the money part, whoopdy freakin doo, they probably figured out how they would spend it already. I just don't have much faith in the liklihood of seeing that saved money in my pocket

WACoinGuy · March 10, 2003 6:51AM

I got a magic trick for Christmas that has to do with turning a half dollar into an English large cent. It came with all the trick coins, but it doesn't come with a half dollar -- the instructions say I have to get one myself. I've asked at some banks, but no one here seems to have any half dollars! It shouldn't be this hard to find a half dollar...

jeffnpcb · March 10, 2003 6:54AM

NNNOOOOOOOOOOOOO!!! Unless the vending machine companies are required to make the units coin friendly!

satootoko · March 10, 2003 7:13AM

<< As long as there's demand from casinos, the half dollars stays. >>

Why do us taxpayers have to subsidize them?

Let the rest of them copy the downtown Vegas joints, which have had 50¢ and 25¢ chips forever.

flaminio · March 10, 2003 7:35AM

<< Why do us taxpayers have to subsidize them? >>

Uh -- the gov't makes a coin for 20c and sells it to the casinos (and the rest of the country) for 50c. How is that subsidization?

flaminio · March 10, 2003 7:38AM

<< The govt saving the money part, whoopdy freakin doo, they probably figured out how they would spend it already. >>

Just because they would waste it somewhere else does not justify wasting it here.

presleyh · March 10, 2003 8:38AM

I usually tip with kennedy halves now. It is easier to tip with paper dollars, because I tip 2 bucks at lunch every day. So, the weight of the halves is annoying as would be the weight of the dollar coin. How about a 2 dollar coin? Now that makes sense. Paper money is here to stay until plastic really catches on. Then we wont need paper or coinage.

sumnom · March 10, 2003 8:57AM

Get rid of the bill!

People will accept the one dollar coin if there are no bills. I don't care if it is seen as forced acceptance. Just do it! The Canadians were upset with their loonies and twonies for a while but now no one thinks twice about them. Nothing is strange for long.

ccr · March 10, 2003 9:25AM

If you want to get rid of something, get rid of the Sacagawea Dollars. Those things are the ugliest US coins I ever seen. She looks like a Gorilla with a shave.

richbeat · March 10, 2003 4:51PM

The way I see it, this is actually a fairly complicated situation. One that would require a lot of planning, looked at from all angles, and carried out possibly in a series of steps. Certainly modifying vending machines (the ones that aren't already converted) to accept the dollar coin would help. On the consumer side, the weight complaint can be much alleviated by bringing back the two dollar bill. Instead of three dollar coins, it could therefore be a two dollar bill and one dollar coin. This would "force" the two dollar bill to work as well.

On the business side (merchants and banks) it might be a little more tricky. Again the two dollar bill would cut down the weight problem. However, it would still be a bit of a pain weight-wise for a bank to order, say, $6000 in dollar coins from the Fed instead of dollar bills. Some banks use cash dispense units to give out change to customers. The bills come out of a slot in the machine. To do away with the one dollar bill would render these units worthless unless: 1) they are modified to dispense dollar coins and/or two dollar bills, or 2) they dispense to the nearest five dollars without going over the amount due, with the remaining odd dollars coming out of a cash drawer, which would be a cumbersome solution. For merchants cash register slots would have to be changed to accept these changes. Those businesses that use a lot of one dollar bills would not like having to deal with a heavier dollar coin instead, unless they used two dollar bills also. You can probably imagine that there would be resistance and complaints.

Not to make this too wordy, those are just some of the many situations that would have to be dealt with. I do believe that with the right kind of planning and carried out properly (I know, given the government's track record, don't hold your breath) it can be done.

Twowood · March 10, 2003 7:48PM

No....And dump the SAC and SBA.They're only made as an attempt to suck up to the feminist crowd. Twowood

Steve27 · March 10, 2003 7:53PM

Dump the dollar and introduce both a dollar coin and a two-dollar coin.

izzy452 · March 10, 2003 8:47PM

Why stop with a dollar coin ? Why not a 5 ,10 and 20 dollar coin.? Not a new concept.

Walt

Bailathacl · March 10, 2003 9:33PM

I think that if we look at the experience of Canada and the United Kingdom regarding the elimination of their lowest denomination notes and replacement circulating coinage, we Americans would be a little less uptight about getting rid of the dollar bill. The dollar bill is the "devil you know", but the vast majority of Canadians and British are pleased with the change and would never ever support restoring their low denomination notes. People will get over the loss of the dollar bill pretty fast as they did in those countries. If the dollar coin makes sense (in a new format) the ONLY way it will get off the ground is if the dollar bill disappears gracefully. As for the vending machine industry not being happy about retooling their machines, that's unfortunate but it's the tail wagging the dog to hold back on a sensible change for them -- to stay competitive they'll retool. Perhaps a modest one-time tax credit for retooling (these things are already depreciated on vending companies' tax returns anyway) would be an equitable way to start saving millions of taxpayer dollars each year?

flaminio · March 10, 2003 11:24PM

Just a point about vending machines -- nearly all vending machines manufactured in the past 20 years are capable of taking dollar coins with no retooling. There's a small switch inside labeled "Dollar Coin Accept", and if it's flipped in the "Yes" position, the machine takes dollar coins. It's that simple, no retooling necessary.

The vending machine industry is, in fact, a great supporter of dollar coins (Source, specificly this PDF Letter). Dollar coins allow them to get away from the costly and problematic bill accepters and enable them to offer higher cost items in the machines.

Baley · March 10, 2003 11:37PM

A dollar coin will be successful when, if and only if, 2 crucial things happen:

1. eliminate the dollar bill. As long as a paper dollar is circulating, dollar coins will not, it is very amusing (well, bemusing) that the powers that be do not understand this, and continue to scratch their heads over the failure of the Ike, then the SBA, and now the Sac.
2. make the dollar coin a convenient size. the Sac is still too large to carry more than one or two in your pocket comfortably. IMO a new dollar coin would have to be smaller than quarter and larger than a nickel, and probably bimetallic for easy recognition and difficult counterfeiting.

someday, it will happen, probably in a sweeping coinage change that will also eliminate the cent and redesign the rest of the coins.

asnooker · March 11, 2003 12:44AM

smprfi.......ROFL I can't type I'm laughing so hard........

asnooker · March 11, 2003 12:53AM

ok seriously now.... I like the One & Two dollar coin idea. Keep everything else as it is, for the time being. Make it a bi-metal coin like the 1 & 2 euro and people would probably like the darn things, start using them and forget all about the dollar bill. Then eliminate it.

relayer · March 11, 2003 2:55AM

I voted yes and I think the color and size of the Sac is the answer, but until they pull the dollar bill it won't fly

richbeat · March 11, 2003 11:04AM

Canada and Great Britain have had success doing what we can't seem to be able to do: get rid of the dollar bill. There's your proof. However, bear in mind that the U.S. economy is far bigger than either of those two countries, with far more bills printed and coins struck. The coversion for us presents a bigger challenge than for them. In fact, it has been used as an argument in the past against the change. I am a supporter of eliminating the dollar bill and going to the dollar coin, but it won't be simple and easy, and will take planning and looking at from all angles.

mdwoods · March 11, 2003 12:10PM

Get rid of Dollar bills. I'll do my part, send any you have to me. I promise to dispose of them properly.

VonZipper · March 11, 2003 12:23PM

My thoughts, get rid of the $1 bill and replace it with a $2 or $3 bill,keep the $1 coin, drop the 1c penny and make a 2c or 3c coin. That way for the same material costs the mint can make more profit from a higher denomination bill or coin.

JD · March 11, 2003 9:54PM

A circulating $1 & $5 coin along with a reduced size 50 cent piece is long overdue. But special interests win out over logic.

Rnealw · March 11, 2003 10:21PM

I do believe you are absolutly right JD.

End the dollar bill?

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