What would make the P-dollars a hit?
renman95
Posts: 7,037 ✭✭✭✭✭
Other than getting rid of the paper dollar.
It seems last years renderings were more exciting than the boring tokens that finally emerged. Remember the banners with dates and different ways the "number" president would be presented. The only interesting part of the series are that the portraits are quarter faced.
Ren
It seems last years renderings were more exciting than the boring tokens that finally emerged. Remember the banners with dates and different ways the "number" president would be presented. The only interesting part of the series are that the portraits are quarter faced.
Ren
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Comments
<< <i>If every forum member got a roll and spent them all in the same day...
At the lunch room at work, the cashier said they don't accept video game tokens!
Ren
<< <i>Other than getting rid of the paper dollar. >>
In that case, nothing.
I have yet to see one in circulation...300M eh?
edit: a better designed coin would help to make them a "hit"!
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
<< <i>
<< <i>If every forum member got a roll and spent them all in the same day...
At the lunch room at work, the cashier said they don't accept video game tokens!
Next time, use the Weenie dollar instead
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i> What would make the P-dollars a hit? >>
They would be a huge success and unanimously accepted if the mint would make them out of 90%, or at least 40% silver before shipping them to the banks for face value distribution to the public, along with a legal caveat (punishable by a $100,000 fine, 5 years imprisonment, or both) that bank employees and their relatives or friends cannot obtain more than two rolls of said beautiful dollars for their personal or business use.
- Jim
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
Total additional cost to gov't= $360,000.
Or every millionth one in gold (cost $210,000). Advertise it heavily and public would be on those dollars like locusts.
Proud recipient of two "You Suck" awards
<< <i>MAKE EVERY MILLIONTH ONE PLATINUM WITH GOLD PLATE, SO THAT IT COULD NOT BE DISTINGUISHED BY COLOR. Limit bank transactions to distribution of rolls only, for one month only. Then lift all restrictions.
Total additional cost to gov't= $360,000.
Or every millionth one in gold (cost $210,000). Advertise it heavily and public would be on those dollars like locusts. >>
Good idea...turn this into a lottery. Just like the Sacs in the Cheerios boxes. Little did we know that those 5,500 coins were lottery tickets. I've mentioned this before, a mint employee may have to carve an extra brow into one of these presidents so we can have an "extra high brow" or "extra low brow" version to spark some interest. Friday on CNBC, one of the info-chicks was speaking about the new dollar. "What going to be different this time." Two other 'heads basically said what been saying here, get rid of the dollar and Americans a creatures of habit.
Yes, 2009 will be a great year for the collector.
Ren
<< <i>Or every millionth one in gold (cost $210,000). Advertise it heavily and public would be on those dollars like locusts. >>
Do that and I guarantee that they will be a TOTAL FAILURE as a circulation coin. Every single one made will be snatched up and hoarded by non-collectors who know or have heard "that some of these are rare and valuable" but they won't know why they are valuable, or how to tell the valuable ones. So they will simply hoard all of them and none of them will circulate.
<< <i> I reminded him that Congress and the Mint are tying to make this mainstream and buying 1000 coin box is not going to do that. >>
But he isn't the Congress or the Mint, and they aren't paying him to tie up assets in a bunch of dollars that may just sit around as a dead item, and which may cost him money to have to send back later.
<< <i>But, remember all the hoopla around the Sac? It's nothing like that now. It's almost as if the program is destined to be defeated and turn into a collector/seignorage item. >>
When the Sac came out the Mint had a deal with Wal-Mart to distribute them. Wal-Mart handled 95 million coins in one month. But being only a one month program (With many wal-mart people either telling their customers that they would only be available for a month, or rationing distribution which made the coins appear scarce) , and being a brand new coin, many of those coins were hoarded and not spent. In an interview, Director Moy said that they were not going to do something like that again because they didn't want another failure like that.
Failure? They put 95 million coins into the public's hands in ONE MONTH! The Treasury's normal draw down rate is FIVE million coins a month. The mistake with the Wal-Mart promotion was to limit it to one month. If it had continued on and on and people were allowed to have as many as they wanted, they would have eventually realized when their hoards got too large that they are NOT rare or worth saving, and they would have started spending them again. By cutting off the promotion it just sent a confirming message that the coins WERE something special.