The USG is subsidizing coin collecting??

Ed62

Read all about it

devious

2 billion dollars from 600 million? Sounds like a great business plan. I'm sure it's a lot cheaper to print 2 billion out of paper though. And I don't think it is because nobody wants these dollars. I think people aren't so much informed to the availability of these dollars. And admittedly, I don't have any neither. Plastic is another reason the distribution has been hindered. It's easier to carry one card with an attachment to a bank account than it is to carry around 3 of these.

19Lyds

As a professor...........it's really too bad he's an idiot.

llafoe

<< <i>As a professor...........it's really too bad he's an idiot. >>



Not if you had him in class!

19Lyds

<< <i>

<< <i>As a professor...........it's really too bad he's an idiot. >>



Not if you had him in class! >>

I'd never take a class from someone that bases his "economic" reasoning on unsubstantiated heresay.

Actually, if he had ANY economic sense, the answer would be clear.

edix2001

I think he's just quoting NPR, but also seems to agree.
But what is the error, here?
Will there be 2 billion dollar coins in storage, and do they cost 30 cents a piece to mint?

Ed62

More

edix2001

Well, that backs up the storage claims of 1 and 2 billion, but I've read elsewhere that the cost of minting a prexie buck is only 16 cents, or roughly half of the OP claim.

19Lyds

<< <i>More >>

Oooo Wow!

Another totally bogus report which completely skirts the issue. Namely: Allowing big business to dictate what should or should not be done instead of the Federal Government doing what OUGHT to be done from an economic standpoint.

Continually throwing money into the creation of $1 Federal Reserve notes is idiotic and irresponsible to say the least.

Oh well. I guess putting the 100 million dollar savings up against an already trillion dollar deficit bloat just doesn't seem to have any priority?

Frankcoins

The comments made to the NPR article are interesting. Lots of bashing of the Federal Reserve ,
and longing for the days of "free market" money made by the private sector instead of the evil guv'ment. And thank God that
Ron Paul is going to make our Norfed Liberty Dollars legal tender "again."

I guess they mean the almost universally underweight and counterfeit coppers made during the pre-federal
era, and nostalgia for "broken banknotes" printed and circulated by banks, railroads and corporations. Or maybe
the trillions lost in bank failures before FDIC insurance was mandated. Some "expert" commented that coins made
by private mints "in the late 1800s" always had a higher gold or silver content than the US Mint products....sheesh

airplanenut

<< <i>As a professor...........it's really too bad he's an idiot. >>

And he's at Harvard! Go Tech!

scottgardener

The main problem right now with dollar coins is that too many people have never heard of them. If they don't get into circulation, they won't circulate. I'll take them when I get them, and I'll even ask for them over paper. I just don't see them. Here at work, there's a vending machine that gives them in change if you buy junk food with a $5, but I bring my own food. I otherwise see them only on occasion at the bank.

Elcontador

If you look at the economic history of the country, you find more frequent recessions (referred to as 'panics)' before the creation of the Fed. Financial manipulation often related to changing the weight of coins, and political nonsense like the Bland-Allison Bill of 1878.

However, they came and went much more quickly than those which happened after the Fed was created.

Ed62

Caption: Millions of dollars worth of $1 coins languish in a vault at the Federal Reserve Bank of Richmond's Baltimore branch.

giorgio11

<< <i>The main problem right now with dollar coins is that too many people have never heard of them. If they don't get into circulation, they won't circulate. I'll take them when I get them, and I'll even ask for them over paper. I just don't see them. Here at work, there's a vending machine that gives them in change if you buy junk food with a $5, but I bring my own food. I otherwise see them only on occasion at the bank. >>



1. Gold dollars 1849-1889
2. Seated dollars 1840-1873
3. Trade dollars 1873-1883/5
4. Morgan dollars 1878-1921
5. Peace dollars 1921-35
6. Ike dollars 1971-78
7. SBA dollars 1979-81, 99
8. Sacagawea/Native American dollars 2000-present
9. Presidential dollars 2007-2016?

The Feds have tried nine times so far since the mid-1800s to launch a circulating dollar coin. While a few have circulated, compared to the numbers created, they for the most part have been miserable failures. Gold dollars were too small. Morgan dollars were too large. SBAs looked like quarters. Washington, learn from history and get a clue. The U.S. public for the most part doesn't want them and won't accept them as long as a paper alternative circulates.

Frankcoins

One comment says that the US has never had dollar coins before, but always used paper dollar bills, all the way back to when Ben Franklin printed them

mixman

If the gov't every wants dollar coins to gain acceptance they will need to stop printing paper dollars. Considering they make money on the mint and lose it on printing I don't know why they haven't done this already. I guess I shouldn't be surprised though.