@BryceM said:
I again state my position. Eliminate the cent and nickel. Make a minuscule dime from a small diameter copper (1850s gold dollar size). Make a quarter roughly as large as our current dime. Made a half-dollar roughly as big as a nickel. Make a dollar a little smaller than our current quarter. Make a 2-dollar coin a bit bigger than a quarter. Make a 5-dollar coin a little smaller than a Kennedy and a 10-dollar coin a bit bigger than a Kennedy, maybe a bi-metallic design. You could make an occasional 20 dollar coin roughly the size of a classic silver dollar. Eliminate the $1, $2, $5, and $10 notes. Create a circulating $500 note.
This would get us another 20-50 years, depending on the rate of government idiocy.
The vending machine industry has an army of lobbyists that would fight this proposal. Also, high denomination notes would be heavily counterfeited by North Korea, Iran, and other foreign governments that are our enemies.
I use a lot of change... even carry cents in my pocket. I start each day with three quarters, three dimes, three nickels and four cents in my pocket. Often I come back with more than that... sometimes less. Cashiers are always surprised when I give them exact change. Not many people do that. Cheers, RickO
@coinbuf said:
Dollar coins are the worst, try carrying around $15 of those and your pants will be around your ankles all the time from the weight.
Almost no one carries that much pocket change. When was the last time you went somewhere with 60 quarters in your pocket?
Yesterday Yes that is true today that I don't need or have to carry that much in change for personal use. But if you eliminate the lower denomination bills in an attempt to force the use of a $1 coin then there could be situations where this might happen. Personally I dislike change for two reasons, one I am in the vending industry so I have to deal with coins everyday, (and yes I do see $1 coins used on occasion) and second I don't like to jingle as I walk so I carry as little change as possible. As I am in the industry I would work with the lobby groups and work hard against any legislation for a move away from the current status quo.
As a side note over the years I have gotten many complaints from customers that have used a $5 bill to purchase a soda or snack item and then received $4 back in quarters.
@3stars said:
I can't imagine how many pantsless people are walking around Canada, England, Germany etc with all of those dollar coins in their pockets.
I don't think most people carry around their life savings in their pockets in the form of dollar coins.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@3stars said:
I can't imagine how many pantsless people are walking around Canada, England, Germany etc with all of those dollar coins in their pockets.
I don't think most people carry around their life savings in their pockets in the form of dollar coins.
You'd also think that some think that if they stop making new one dollar bills, nickels, and pennies, all the existing ones simply disappear or will be demonetized.
They won't, and those would/will still circulate for a long, long time.
They could easily demonetize, The UK did it with their old pound coin. Gave everyone something like three months to turn them in for replacement before they became worthless. The average person probably has less than 10 dollar bills on them or in their possession at any one time, so it wouldn't be that heartbreaking if you missed the deadline.
@3stars said:
They could easily demonetize, The UK did it with their old pound coin. Gave everyone something like three months to turn them in for replacement before they became worthless. The average person probably has less than 10 dollar bills on them or in their possession at any one time, so it wouldn't be that heartbreaking if you missed the deadline.
I guess you don't know many strippers.
Edited to add: Funny story I once had a machine at a strip club, those were the only bills I made sure to wear gloves when counting.
Our coins today have minuscule purchasing power. A total revamp is needed in the size and denomination. I agree with BryceM in this regard. Coins could be made in denominations up to $25, with the $2.50, $5, $10, and $25 being a bi-metallic composition. It'll never happen but I think it would be a good idea. It also might be somewhat irrelevant with the declining use of cash as a payment.
@element159 said:
I wish a dollar coin would circulate. I would not use them all the time but they would be at least sometimes useful, e.g. for vending machines, unlike the cent which is worthless. But for the coin to ever circulate: The government MUST STOP CHANGING THE DESIGN. Since they are not familiar to all, they need a consistent appearance, and all the different versions just make it confusing.
They do use these in Ecuador, and when I visited, my fellow travelers from the USA did not believe that these coins were actually spendable back home. The design MUST be consistent or the coin will never be adopted.
Of course we change the design on the quarter all the time as well, and they seem to circulate more than any other coin.
@BryceM said:
I again state my position. Eliminate the cent and nickel. Make a minuscule dime from a small diameter copper (1850s gold dollar size). Make a quarter roughly as large as our current dime. Made a half-dollar roughly as big as a nickel. Make a dollar a little smaller than our current quarter. Make a 2-dollar coin a bit bigger than a quarter. Make a 5-dollar coin a little smaller than a Kennedy and a 10-dollar coin a bit bigger than a Kennedy, maybe a bi-metallic design. You could make an occasional 20 dollar coin roughly the size of a classic silver dollar. Eliminate the $1, $2, $5, and $10 notes. Create a circulating $500 note.
This would get us another 20-50 years, depending on the rate of government idiocy.
You understand that there is a serious movement afoot to eliminate the $100 note because it is thought to facilitate criminal activity. The trend worldwide is to reduce, not increase, the maximum denomination.
@daltex said:
You understand that there is a serious movement afoot to eliminate the $100 note because it is thought to facilitate criminal activity.
That's what you're supposed to believe, anyway. One other thing the $100 note facilitates is regular ordinary financial transactions that don't generate any fees for anybody.
Almost no one carries that much pocket change. When was the last time you went somewhere with 60 quarters in your pocket?
Maybe this is why these guys with their britches hanging below where they are supposed to be, wind up pulling the waist back up repeatedly. Lots of change!
oih82w8 = Oh I Hate To Wait _defectus patientia_aka...Dr. Defecto - Curator of RMO's
@BryceM said:
I again state my position. Eliminate the cent and nickel. Make a minuscule dime from a small diameter copper (1850s gold dollar size). Make a quarter roughly as large as our current dime. Made a half-dollar roughly as big as a nickel. Make a dollar a little smaller than our current quarter. Make a 2-dollar coin a bit bigger than a quarter. Make a 5-dollar coin a little smaller than a Kennedy and a 10-dollar coin a bit bigger than a Kennedy, maybe a bi-metallic design. You could make an occasional 20 dollar coin roughly the size of a classic silver dollar. Eliminate the $1, $2, $5, and $10 notes. Create a circulating $500 note.
This would get us another 20-50 years, depending on the rate of government idiocy.
You understand that there is a serious movement afoot to eliminate the $100 note because it is thought to facilitate criminal activity. The trend worldwide is to reduce, not increase, the maximum denomination.
Of course I know that. They can do a better job with anti-counterfeiting measures. I think the real goal is to eliminate financial transactions which can’t easily be taxed. My opinion of what should happen is unchanged.
Comments
Yep, but we should do it anyhow.
I use a lot of change... even carry cents in my pocket. I start each day with three quarters, three dimes, three nickels and four cents in my pocket. Often I come back with more than that... sometimes less. Cashiers are always surprised when I give them exact change. Not many people do that. Cheers, RickO
Yesterday
Yes that is true today that I don't need or have to carry that much in change for personal use. But if you eliminate the lower denomination bills in an attempt to force the use of a $1 coin then there could be situations where this might happen. Personally I dislike change for two reasons, one I am in the vending industry so I have to deal with coins everyday, (and yes I do see $1 coins used on occasion) and second I don't like to jingle as I walk so I carry as little change as possible. As I am in the industry I would work with the lobby groups and work hard against any legislation for a move away from the current status quo.
As a side note over the years I have gotten many complaints from customers that have used a $5 bill to purchase a soda or snack item and then received $4 back in quarters.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
I can't imagine how many pantsless people are walking around Canada, England, Germany etc with all of those dollar coins in their pockets.
I don't think most people carry around their life savings in their pockets in the form of dollar coins.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
You'd think so by the comments above.
You'd also think that some think that if they stop making new one dollar bills, nickels, and pennies, all the existing ones simply disappear or will be demonetized.
They won't, and those would/will still circulate for a long, long time.
Liberty: Parent of Science & Industry
Yes, DOA.
They could easily demonetize, The UK did it with their old pound coin. Gave everyone something like three months to turn them in for replacement before they became worthless. The average person probably has less than 10 dollar bills on them or in their possession at any one time, so it wouldn't be that heartbreaking if you missed the deadline.
I guess you don't know many strippers.
Edited to add: Funny story I once had a machine at a strip club, those were the only bills I made sure to wear gloves when counting.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Our coins today have minuscule purchasing power. A total revamp is needed in the size and denomination. I agree with BryceM in this regard. Coins could be made in denominations up to $25, with the $2.50, $5, $10, and $25 being a bi-metallic composition. It'll never happen but I think it would be a good idea. It also might be somewhat irrelevant with the declining use of cash as a payment.
Of course we change the design on the quarter all the time as well, and they seem to circulate more than any other coin.
You understand that there is a serious movement afoot to eliminate the $100 note because it is thought to facilitate criminal activity. The trend worldwide is to reduce, not increase, the maximum denomination.
That's what you're supposed to believe, anyway. One other thing the $100 note facilitates is regular ordinary financial transactions that don't generate any fees for anybody.
Maybe this is why these guys with their britches hanging below where they are supposed to be, wind up pulling the waist back up repeatedly. Lots of change!
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Of course I know that. They can do a better job with anti-counterfeiting measures. I think the real goal is to eliminate financial transactions which can’t easily be taxed. My opinion of what should happen is unchanged.
Only coins I use are quarters. Don't care for the rest - they accumulate and I deposit them into those donation boxes at the grocery stores.