Yet another move to eliminate the dollar bill

CaptHenway

Good luck!

linky

mingot

read comments to understand why this won't happen.

Americans are by and large an incredibly stupid people.

and not just the 47%.

joeykoins

"... will replace with less expensive metals such as, aluminum,zinc,etc." Wait,if they allow this,mark my words. These metals will turn valuable in time! besides,those dollar coins are a nuisance in my wallet.

tahoe98

...one day the gubmint is for elimination of the rag buck and the next day they want the dollar coin. they'll never get it straight!

mbogoman

A quarter in 1970 bought a hell of a lot more than a dollar buys today. Using a coin today for the same (actually less) "buying value" as a coin in 1970 should not be a problem. After all, a coin was good enough back then, why not now? People just can't get past the idea of "dollar bill". Let's extrapolate out a few more years. In 2030 or 2040, when the dollar buys what a penny did in 1970, are we still going to be having the same argument? Yeah, probably. Especially if the Crane company is still lobbying hard...

lcoopie

its only a matter of time before all money is electronic IMO

joeykoins

<< <i>its only a matter of time before all money is electronic IMO >>

Your right! Read my post about the "cent and nickel " thread.

BaseballAbs

<< <i>its only a matter of time before all money is electronic IMO >>



For the most part yes. 100 percent, I don't think so. They have the technology to do that right now, but I see too many problems.

joeykoins

To get more deeper into this subject,that micro chip that's inside all these credit cards,will soon be inside of our hands. Literally! Think of the convenience factors here.Watch.

DAM

I've seen a few reports the past couple days on this subject. I say it's about time.

I've got property in Canada. They have a dollar coin (loonie) and two dollar coin (toonie). Most people don't have a problem with the coins. Those that do don't tend to spend their change. They let it accumulate and it becomes a burden to them.

For the savings, I think it's worth it. You get used to it after a while.

Edited to add... I remember when Canada switched from the paper dollar to the coin. They gave plenty of notice, 6-12 months, I can't remember how much exactly. After that, the paper dollar was not accepted. We've tried the "choice" route. It didn't work. This time they should do what Canada did.

dcarr

I hate paper one-dollar bills. I greatly prefer dollar coins, I think they are more convenient, and they would save the government money if they used them instead of paper.
I spend dozens of them at a time.

But also consider this:

A paper dollar is a Federal Reserve Note, issued by a banking cartel, with debt and interest attached.

A dollar coin is issued by the US Treasury, with no addtional government debt or interest payments incurred by their issuance.

So be on the lookout for Federal Reserve trolls attempting to cut down the idea.

dtkk49a

Don't kid yourself. The company that manufactures the paper that our money is printed on weilds A LOT of influence in Washington. That is the ONLY reason why we have not stopped printing the dollar bill.

Senex

<< <i>Don't kid yourself. The company that manufactures the paper that our money is printed on weilds A LOT of influence in Washington. That is the ONLY reason why we have not stopped printing the dollar bill. >>


Don't kid yourself - it's the powerful stripper's lobby that keep the dollar bill in circulation!
Can't stuff a dollar coin into a strippers g-string! (I tried!)

mbogoman

<< <i>Don't kid yourself. The company that manufactures the paper that our money is printed on weilds A LOT of influence in Washington. That is the ONLY reason why we have not stopped printing the dollar bill >>



That's the Crane Company, mentioned in my post above.

AMRC

<< <i>read comments to understand why this won't happen.

Americans are by and large an incredibly stupid people.

and not just the 47%. >>



If by Stupid you mean we allow folks like you to make these comments with no reprisal or fear then I am afraid you are correct.

droopyd

<< <i>Don't kid yourself - it's the powerful stripper's lobby that keep the dollar bill in circulation!
Can't stuff a dollar coin into a strippers g-string! (I tried!) >>



Every other place in the world has little jars for people to place their tips. Only in the US do pervs think that a buck gives them the privilege to cop a feel.

Senex

"And Rep. Carolyn Maloney, D-N.Y., said the $1 coins have proved too hard to distinguish from quarters.
"If the people don't want it and they don't want to use it," she said, "why in the world are we even talking about changing it?""

For those of you not familiar with NY Congress critters, Ms. Maloney is our village idiot.

Senex

<< <i>

<< <i>Don't kid yourself - it's the powerful stripper's lobby that keep the dollar bill in circulation!
Can't stuff a dollar coin into a strippers g-string! (I tried!) >>



Every other place in the world has little jars for people to place their tips. Only in the US do pervs think that a buck gives them the privilege to cop a feel. >>


God bless the USA!

Elcontador

On a serious note, many countries have gone this route. Great Britain introduced the 1 pound coin sometime in the early 1980s. There is no one euro note, only a coin. Brasil stopped producing the 1 real coin around 2006. Argentina for some time only has used a 1 peso and 2 peso coin. When I was over there, I did not see a single New Turkish Lira note, only coins.

On the not so serious side, you can do a lot with coins and strippers, though at present, many of them would be against the law. When I was a kid, a former serviceman told me a story about a quarter when he was south of the border......

messydesk

<< <i>"And Rep. Carolyn Maloney, D-N.Y., said the $1 coins have proved too hard to distinguish from quarters.
"If the people don't want it and they don't want to use it," she said, "why in the world are we even talking about changing it?""

For those of you not familiar with NY Congress critters, Ms. Maloney is our village idiot. >>


That's made painfully obvious by the above quote. While she probably also has a hard time distinguishing her from a hole in the ground, nickels are much more similar to quarters than the current dollars are. Never mind the similarity in size, shape, and color of our circulating paper currency.

Ceephus

The only thing you need to know is the dollar coin does not have FEDERAL RESERVE stamped on it and the paper dollar does.

dcarr

<< <i>The only thing you need to know is the dollar coin does not have FEDERAL RESERVE stamped on it and the paper dollar does. >>



Yes, exactly. Who is putting up the real road-blocks to the dollar coin ?
Crane paper may whine some about it, but the Federal Reserve has more to lose
(they doesn't want to give up any of their "turf").

MsMorrisine

banks don't want them, thus the fed res doesn't, because the banks have to buy the $1 coin for $1, whereas with the notes they only have to put up worthless treasuries as collateral.

3stars

Canada has even given up producing the cent, so we are way behind the curve.

COALPORTER

<< <i>
Don't kid yourself - it's the powerful stripper's lobby that keep the dollar bill in circulation!
Can't stuff a dollar coin into a strippers g-string! (I tried!)
>>




If they were really that smart, they would want the dollar gone, and mandate five bucks as the minimum g-tip!

pitboss

<< <i>"... will replace with less expensive metals such as, aluminum,zinc,etc." Wait,if they allow this,mark my words. These metals will turn valuable in time! besides,those dollar coins are a nuisance in my wallet. >>





You could always leave them in the penny tray at the counter.

richbeat

<< <i>banks don't want them, thus the fed res doesn't, because the banks have to buy the $1 coin for $1, whereas with the notes they only have to put up worthless treasuries as collateral. >>




Banks don't want them mainly because they don't circulate. They sit in the bank vaults. If the dollar coins circulated, then the banks wouldn't have a problem with them.

BBN

I have always gotten a kick out of people saying "who wants to pack around a bunch of those things in their pockets?" To that I say; who packs around a bunch of ones? Most people may have 3-4 at the most in their wallet. What will happen is these things would end up in the car cup holder and then be quickly spent in drive-thrus, tollways, etc, so they may actually be quite convenient to have sitting right there instead of having to dig for your wallet.

RYK

Excellent, balanced discussion on the topic on one of my favorite podcasts, Planet Money.

The conclusion may surprise some folks here.

tahoe98

<< <i>

<< <i>Don't kid yourself. The company that manufactures the paper that our money is printed on wields A LOT of influence in Washington. That is the ONLY reason why we have not stopped printing the dollar bill. >>


Don't kid yourself - it's the powerful stripper's lobby that keep the dollar bill in circulation!
Can't stuff a dollar coin into a strippers g-string! (I tried!)
>>



...just substitute with an I.O.U.

ambro51

.....bring back the trime. Bullion value. You'd have a coin 3 mm in diameter. Imagine counting out a bunch of those with icy cold hands at Wawa buying a coffee after spending four fruitless hours sitting up in a deer stand in 15 degree weather.