Polls "show" that folks don't want dollar coin
anoldgoat
Posts: 1,493 ✭✭✭
Has anyone here ever participated in one of these polls. I am currious to know how the question is put. I have participated in phone polls before and know how they like "conditional" answers. Such as "If gas prices were to double from here would you consider an electric car". Yes.
So I can see the polsters in the case of the dollar asking "If the dollar coin was 4 times the size of the quarter would I rather use a paper bill or a dollar coin". My answer would of course be the bill.
So I can see the polsters in the case of the dollar asking "If the dollar coin was 4 times the size of the quarter would I rather use a paper bill or a dollar coin". My answer would of course be the bill.
Alright! Who removed the cork from my lunch?
W.C. Fields
W.C. Fields
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because all change (dollar coins included) goes in the bucket
Go BIG or GO HOME. ©Bill
-Amanda
I'm a YN working on a type set!
My Buffalo Nickel Website Home of the Quirky Buffaloes Collection!
Proud member of the CUFYNA
<< <i>Do like the Canadians and Europeans did, just get rid of the bills and make coins. Why give anyone a choice? >>
Yeah, because Canada and Europe aren't screwed up right?
-Amanda
I'm a YN working on a type set!
My Buffalo Nickel Website Home of the Quirky Buffaloes Collection!
Proud member of the CUFYNA
don't know what they'd do with a metal one so they are automatically against it. The
simple fact is these would actually be usefull for the sort of things we used to use
pocket change for and they'd quickly learn to prefer its utility over the paper. We
wouldn't have lost pay phones so early if people didn't need a stack of quarters to
make a call.
Everywhere coins of real value have been reintroduced in the world they have been
accepted with open arms within mere months. It's 2006 and a dollar will barely buy
a can of soda pop anymore. It's really time for a $2 and $5 coin as well.
My World Coin Type Set
-Amanda
I'm a YN working on a type set!
My Buffalo Nickel Website Home of the Quirky Buffaloes Collection!
Proud member of the CUFYNA
<< <i>I don't do phone polls.......so how do they know....??? >>
I don't do phone polls either. With all of the unlisted numbers. cell phones, and nonrespondents (like me), I'm guessing that close to 50% of people don't do polls. So how can they be valid?
An authorized PCGS dealer, and a contributor to the Red Book.
Is there a reason that everybody in here knows that to get a dollar coin to circulate you just have to drop the dollar bill.....
And the dollar coin is cheaper because it lasts so much longer then the dollar bill.....
Imagine if they stopped producing dollar bills and cents, talk about saving some money.....
really?? most often the reasoning is that carrying 20-30 coins would be too bulky but who generally carries 20-30 dollar bills? i know whenever i get enough singles to need to count/seperate them i try to get rid of them. i regularly use dollar coins, also, changing $20 bills at work in the bill changer. carrying 10-20 of them at once isn't troublesome at all and i use them most every day out in the real world. as cladking said, it's time for a larger denomination coin plus elimination of the paper. remember, the average life of a paper bil is quite short so the lower initial cost is multiplied many times to equal the longer life of a coin.
<< <i>I agree with cladking about the value of the dollar. It has far less purchasing power today due to inflation. I have often wondered if there is a way to reduce the inflation, like stop making so much money for a while. >>
The government has a vested interest in inflating the currency. It effectively reduces the real dollar amount of its debt.
And as long as they are in control of manipulating the inflation statistics to artificially understate inflation, it also wins by giving out COLAs and interest on inflation-protected securities that are below the "real" rate of inflation people feel.
It's good to be King, I guess.
It was 1862, coins were being hoarded, and in an effort to augment the money supply, the federal government began issuing something new, paper money, which they called "greenbacks." People didn't want anything to do with these worthless pieces of paper. They wanted the coins that they were familiar with, coins that were worth something. And, of course they were, since they were made out of gold, silver, and copper.
Oh, how times have changed.
Peace,
Steve
I just don't get it.
Dollar bills are very expensive, and tend to have a very short life compared to coins. The government wants to know what we think, and its just like the cent, we will tell them to keep it forever, because we are 'used to it'. I spend dollar coins all the time. I never keep more than 5 or so ones in my wallet (how many people do??) and 5 coins is not a problem at all. Guess what, we could 'gasp' start using coin wallets (note I did not say coin purse... I know how we guys feel about that) like many in the world do.
The dollar bill is useless, and expensive, and does not have a fraction of the buying power it did when introduced. If we were to adjust our money to where the rest of the world is, we would kill off the cent most certainly and put in place $1 coins. If you don't like carrying a lot, then a $2 coin solves that, and is also common in the wide world.
The government needs to not ask us and do what is best when it comes to our money. Wasting money printing $1 bills and cents is, well... senseless (or is that centseless).
I go to the bank and ask for dollar coins all the time. I love to watch the average 18 year old cashier call a manager to ask if it is 'real' money. Too funny (and sad).
Start using the sacs, you'll find them just as, or more convenient than dollar bills.
<< <i>Today, the general public doesn't want to use a dollar coin, but prefers paper money, instead. I remember (or should I say, read about) a time when it was the other way around.
It was 1862, coins were being hoarded, and in an effort to augment the money supply, the federal government began issuing something new, paper money, which they called "greenbacks." People didn't want anything to do with these worthless pieces of paper. They wanted the coins that they were familiar with, coins that were worth something. And, of course they were, since they were made out of gold, silver, and copper.
Oh, how times have changed. >>
Given the value of a dollar back then, and the real fear that paper could become worthless if your government or local bank failed to survive, I can see why the dollar (and all coins in general) were the preferred form of money. In 1863, I'm sure I would have favored 20 seated dollars (or even 20 spanish 'dollars') over a $20 bank note.
I grew up when silver coinage was being phased out. So I'm probably the first generation that never considered coins to be worth any more or less than the stated value on the coin. To me, 4 quarters, 10 dimes, or 100 cents is the same thing as a dollar bill. The only difference is that one form weighs more and clanks around in your pocket while the other form is thin, light, and quick to count.
I spent some time in Germany back in the early 80's -- and at that time a 1 Mark coin spent like a US Dollar in terms of buying power. The 1 Mark coin was the only 1 Mark form of "money" - I don't think there was a 1 Mark note. To be honest, I didn't like it. I always seemed to have about a pound of coins floating around in my pocket. It was convenient in vending machines and phone booths, but that was about it. I would have preferred a 1 Mark note.
So - if I represent the attitude of the average "Joe" American, I think it will be as hard or harder to abandon the paper dollar than to abandon the cent. It is more than simply a size problem (confused with the quarter) or a cash register design issue (no place for them in the till). Given the current value of a dollar, paper still works better for me. When a dollar is worth so little that you will need to count out a half dozen of them to purchase a candy bar, then - finally - the convenience factor of the paper money will be gone and a dollar coin will be accepted. By then, the cent and the nickel will be gone and there will be plenty of room in the cash register till for the dollar and the half dollar.
KR
<< <i>American's are the most stubborn folks in the world when it comes to our money...
I just don't get it. >>
them out and they simply refuse to do it. Part of the problem is the perception
that customers will reject them because they are bulky and people don't like to
change. They also fear that their commercial customers will dislike them because
there is no slot in the cash registers.
The simple solution is to eliminate the cent and ship part of every bank's order
for one dollar bills as coin. If customers don't like them they can hand them back
and ask for paper. This would be common at first but people would get used to
this coin quickly just as they have in every other country. So far as I know there
were no countries where people requested this change and most were opposed
but after mere months these become quite popular.
There are numerous steps that would help mitigate the change such as increased
$2 bill production and paying the banks for extra handling costs during the phase-
in. Key to all of this is leaders with the courage to do what is right and what is need-
full and the elimination of the one cent coin is a first step.
<< <i>I agree with clad king. Make the dime the cent and then create a $2.50 coin and a $5 coin. >>
I'm interested in the continued American adherence to the Spanish system of 8ths. I guess if we followed the Canadian example and kept the 25 cent coin and introduced a $2.00, some would accept it without wondering why we're partially decimal and partially using the system of 8ths.
Japan used 100 yen notes up until the early 1980's and 500 yen notes until about 1990. They disappeared from circulation and no one is complaining. Canada stopped issuing dollar and two dollar notes after the introduction of the Loonie and the Twoonie, and few complain.
We can handle change. It isn't that difficult (once you retool vending machines, that is).
Obscurum per obscurius
<< <i>really?? most often the reasoning is that carrying 20-30 coins would be too bulky but who generally carries 20-30 dollar bills? i know whenever i get enough singles to need to count/seperate them i try to get rid of them. i regularly use dollar coins, also, changing $20 bills at work in the bill changer. carrying 10-20 of them at once isn't troublesome at all and i use them most every day out in the real world. as cladking said, it's time for a larger denomination coin plus elimination of the paper. remember, the average life of a paper bil is quite short so the lower initial cost is multiplied many times to equal the longer life of a coin. >>
Keets is "on the money". I remember reading years ago, that the life of a one dollar bills is less then six months were a coin will last in circulation many years. The general public may not like it, and if given a choice they will do the same as with the SBA and Sac's, but the Treasury should just not give a choice and discountinue the one, two and five dollar bill and make a 1, 2 1/2 and 5 dollar coin. If the general public is not given a choice they will get over it and use the new coins, it might not be popular but over time it will save US taxpayers money.
JMHO
They did a survery in Canada about the $1C coin. The majority opposed it.
The government did it anyway.
About a year later they surveyed the populace and the majority liked the Loonie.
Now they even have a twoonie ($2C coin)
Let's stop production of the cent AND paper dollar.
The government won't during an election year. Too many jobs in the mint and BEP (~40%) revolve around just those two products. The laid off workers are voters and we can't lose votes in an election year....
<< <i>If memory serves me...
They did a survery in Canada about the $1C coin. The majority opposed it.
The government did it anyway.
About a year later they surveyed the populace and the majority liked the Loonie.
Now they even have a twoonie ($2C coin)
Let's stop production of the cent AND paper dollar.
The government won't during an election year. Too many jobs in the mint and BEP (~40%) revolve around just those two products. The laid off workers are voters and we can't lose votes in an election year.... >>
They wouldn't have to lay off large numbers of workers. They could use the greatly reduced
mintages to slow down the presses and restore some of the relief that has been lost over the
years. This would mean increased work across the board from the production floor to the die
shops. The increased production and profit from making dollar coins would also offset much of
the lost work. New, more modern designs would keep also serve to keep them busy.
The BEP would lose the one dollar bill but $2 production would partially offset that.
In fact, with a small currency system that is actually usable rather than obsolete, it's entirely pos-
sible that it would reinvigorate parts of the economy and successfully compete with credit cards
on more small purchases. Mint manpower needs could increase though it's hard to envision any
sort of increase at the BEP for years.
Gimme the dollar coin.
The lesson learned is that in a very short period of time I was able to adapt to an entirely different monetary system. I was able to minimize my pocket change while appreciating the fact that I didn't have to carry the paper equivalent of $1 and $2 notes. I wouldn't go so far in advaocating change in the states. I think I would stop at the $1 coin and eliminate the $1 FRN.
One of the biggest impediments to a $1 coinn here, let alone $2 coin is Special Interest Lobbying. Consider the huge stake the domestic paper producers have in printing the paper used to make $1 bills. This is a very mature industry with deep political ties who do not want to lose this concession. We all know that the Gov't. will save Billion$ if they cease printing the $1 FRN and substitute it with a viable circulating coin. But the special interest money is too big a political obstacle to overcome at the moment.
Same thing with the 1-cent coin. Copper demand is extremely high and the copper producers, namely Kennecott have lots of markets for their metal and they still have a significant stake in clad coinage . So what little goes into the cent production is "fly dirt". The real obstacle to the elimination of the cent is the Zinc producers. Face it, the US produces billions of cents a year, which mostly contain zinc. Like the Paper industry lobbyists, the zinc lobbyists have a firm grip on the legislators.
The problem as I see it is the politicians have no incentive to save the taxpayer dollar, because that does not contribute to their re-election war chests. Rather, supporting speical interest lobbyists make real re-election $s available. Which sucks IMO.
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