POLL - Paper or Metal?
chuckfarthing
Posts: 158
Which dollar do you prefer? The rag/paper Federal Reserve Note or the metal alloy coin?
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Morgan Dollar Aficionado & Vammer
Current Set: Morgan Hit List 40 VAM Set
Speaking from experience in traveling to Singapore, Hong Kong and Australia, the extra coins in my pocket wasn't that bad. Australia uses 1 and 2 dollar coins, as well as 5, 10, 20, and 50 cent pieces in all transactions. I really never had a a huge amount of change in my pocket, because I was more likely to reach in my pocket first when paying for things than reaching for the wallet.
Looking for PCGS AU58 Washington's, 32-63.
- Bust dollar: Produced until 1803, when the gov't finally gave up since few people used them (a few dated 1804 were produced in the 1830s as souveniers only), the Spanish reale was in widespread use at the time, gov't finally gave up
- Seated liberty dollar: Produced, but not used much -- gold was favored at that time -- gov't finally gave up
- Trade dollar: Produced mainly for overseas trade, but rarely used, gov't finally gave up
- Morgan dollar: Produced in large quantities mainly due to pressure from the silver lobby, rarely used (too large a value at that time for most transactions), mostly banks kept them in vaults to use for backing up the silver certificates, gov't finally gave up
- Peace dollar: Produced to commemmorate the ending of WWI, rarely used, gov't finally gave up
- Ike dollar: Produced as a commemmorative, mainly due to the gambling industry's pressure to replace Peace dollars no longer available, rarely used, gov't finally gave up
- SBA dollar: Produced as a result of a gov't study saying it would save money, rarely used, gov't finally gave up
- Sac dollar: Produced as another attempt by the gov't to get people to use coins, gov't on the verge of giving up
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<< <i>Which dollar do you prefer? The rag/paper Federal Reserve Note or the metal alloy coin? >>
Before you vote remember that according to the GAO, switching from paper to metal would save the US Government half a billion dollars per year.
<< <i>Before you vote remember that according to the GAO, switching from paper to metal would save the US Government half a billion dollars per year. >>
Which politicians would manage to squander some other way
I'd gladly pay my share ($1.67) of that ESTIMATED $500 million a year just for the convenience of carrying around dollar bills.
Dollardude--why should any of us care about the way "the rest of the world" does things? We're not the "rest of the world" and should be free to do things our OWN way, if we so desire.
<< <i>
<< <i>Before you vote remember that according to the GAO, switching from paper to metal would save the US Government half a billion dollars per year. >>
Which politicians would manage to squander some other way
I'd gladly pay my share ($1.67) of that ESTIMATED $500 million a year just for the convenience of carrying around dollar bills.
Dollardude--why should any of us care about the way "the rest of the world" does things? We're not the "rest of the world" and should be free to do things our OWN way, if we so desire. >>
Since it is America, it would make sense to do things the most logical and efficient
way. This is no aution but it's worth a lot more than $1.67 per person to have a
useable dollar coin in increased revenue alone. The convenience would be price-
less.
Good point. I guess my own personal preference for coins over bills coincides with what most of the rest of the world does. Yes, you are right, we in the U.S. should make up our own minds. The government prefers coins over bills, and is trying to convince the public to change their minds. I am thankful we live in a free country where our government does not make decisions on its own without the consent of the people.
One more point. Given the fact that we live in a global economy, it would make logical sense to switch to coins -- especially the same dimensions as the euro -- since we do a lot of business over there.
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<< <i>I've heard others say "I don't want to carry 20 heavy coins in my pocket". So I ask to see thier 20 $1 bills. I say keep a ten and a five in your wallett and carry a few dollar coins. >>
I don't want to carry 5 heavy coins in my pocket, either. Cladking is right: convenience is priceless. For most, bills are convenient.
The government has been trying to make the U.S. metric for the last thirty years. Besides a few rare things like two liter bottles of coke, it hasn't succeeded. Ultimately all political power devolves from the people, and these same people decide what they will and will not accept. Be it a measurement or monetary system.
<< <i>Ummm, how will I slip a coin into the strippers G-String? >>
Haven't you seen the new PVC flips that attach easily to any piece of swimwear or lingerie?
Perhaps the price is just too steep.
Is your conscience at rest if once put to the test?
You awake with a start to just the beating of your heart.
Just one man beneath the sky,
Just two ears, just two eyes.
I think that these results reflect the coin collector bias. The general public does not want a metal dollar. Ike (too big), Suzie (diameter too close to the quarter) and Sackie (just don't want it) have all failed. I don't want a metallic dollar because when I travel it will add to the weight of my bags and be one more thing that will get me pulled over at airport security.
When I go to a show I normally carry about $25 in dollar bills so that I can easily make change at shows. I have no desire to carry Sackie dollars or any other matallic dollar.
The last one dollar coins that gained any popularity at all were the Type 1 gold dollars which were minted in the 1850s. The silver dollar had very little popularity except in isolated communities (in the western United States and among freed slaves.) Otherwise it was coin that no one wanted as shown by the large number of Mint State Morgan dollars that are available today.
This ones been traveling around in my pocket for years.
I recently "played" with it with a dremel fine wire wheel to try some experimental "whizzing".
Oh well ............. Back in the pocket for 10 more years.
Most stuff you buy in vending machines are over $.50. So it's feed a few quarters into it. Try to feed a dollar into it. Or feed a dollar coin into it. Half the time my dollar won't feed on first try and 1/4 of the time it won't feed at all, and last time I checked three quarters outweigh a Sac dollar. Also I don't carry around a large number of one dollar bills although I don't know the percentage of people that do. I'll usually have no more than two or three unless I get a bunch in change at which point I spend them quickly as they bulk up the wallet making it harder to find larger bills. I've been in other countries that use dollar coins and had no trouble adapting. One uses what's available and gets used to it.
JMO
Mike
W.C. Fields
If the mint would come out with a much smaller coin that was, say, silver plated I would be all in favor of dropping paper currency $1 bills. A small silver plated dollar coin would be cool because there would be some bullion value to the coin. Also, it wound make my pants fall down if I have a bunch of them in my pocket.
<< <i>there would be some bullion value to the coin >>
Catch 22. If the mint produces a dollar coin that contains even a little bit of precious metal, it increases their cost, decreasing their seigniorage, and decreasing the "savings" of coin vs. bill.
<< <i>Ummm, how will I slip a coin into the strippers G-String? That's all that really matters!!! >>
Just like a vending machine -- put the coin in the slot