$5 coin- good or bad idea

F117ASR

I was just thinking about the failure of the new dollar coins and thought to myself, why not just make a $5 coin. Removing $1 bills from the public
would be hard to do. Carrying coins around is too heavy and since very few people have ever seen a new sac dollar they just hoard them instead of using it. A five dollar coin would actually be worth carrying around. Plus a lot less people would hoard $5 coins because it would be too expensive. A $1 coin doesn't buy much anymore but a $5 coin still has some kick to it. Plus the mint could go all out in the quality and design of this coin , because it is worth so much. I would like to see a lettered edge. I always have. Let me know what your thought are.

hamiltonjh

$5 coin sounds good to me.

I've been to lots of countries that use more coinage than paper money, and they do that here too. their smallest bill here used these days is the 1000 yen, about $10.

Ive gotten used to using coins in bigger denominations than our dime, nickel and quarter.

wingedliberty

I think a $2 coin is more practical. It has been successful in Canada and I think would be here as well. A bimetallic design would also be essential to make it as idiot proof as possible for the public.

MrLee

I like the idea of a $5 coin and am surprised the mint has tried it yet.

kryptonitecomics

Yep, Having lived and traveled in Europe I always liked the larger denomination coins so I would be all for having the mint create a $5 coin. I wonder if it will ever happen....just like getting rid of the penny????

Louis

The public never even liked a $1 coin, I don't think it would be widely used.

nwcs

Won't fly unless either the vending machine industry endorses it or people demand it. To be imposed on people, like a dollar coin, it will be doomed to failure.

solid

Yes! The more coins, the better!

Ken

wingedliberty

nwcs:
Its funny that you mention the vending industry, because the Pepsi and Coke machines in the building that I work in, are still not configured to take SBAs or SACS. So much for the vending industry.
I think you are right, the public will never be receptive to new things. They are too set in their ways.

pursuitofliberty

I like the idea, but just as the Sac' (and SBA) won't get used while a paper substitue exists, I doubt any other large denomination coin would either.

To take a lesson from our neighbors to the North, maybe we should loose the 1$ bill first, and force the $1 coin. Then we could look at either a $2. coin, or a $5. piece ... however I think it will be important to remove the $5. bill if we go with a $5. coin.

Just my opinion ...