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Would a circulating $2 coin work?
flaminio
Posts: 5,664 ✭✭✭
We all know that we can't get a circulating dollar coin, mostly because the government will not discontinue the rag-buck.
So how about a $2 coin? There's no appreciable "installed base" of $2 bills to bump off. Perhaps a circulating $2 coin could leapfrog the $1 coin and become a vital institute of commerce.
So how about a $2 coin? There's no appreciable "installed base" of $2 bills to bump off. Perhaps a circulating $2 coin could leapfrog the $1 coin and become a vital institute of commerce.
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But who knows...
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
<< <i>$2 bill,$1 coin,$2 coins can't see it happening. Registers aren't equipped for any of the above. >>
Not true. Most registers have five coin and five bill slots. The coin slots are used for 1c, 5c, 10c, 25c, and ??? what? Usually paperclips or other detritus.
<< <i>I would wager a $5 coin might be more accepted than a $2. >>
The $5 coin suffers from the same problem as the $1 coin -- an installed base of paper. $2 bills are still a curiousity, and there might be an open niche for a circulating $2 coin. At least, that's my hypothesis.
<< <i>Yes and the "spare" slot is used for rolls of change,bundles of singles and checks ect. So there is no room. >>
The only reason those slots are used for that stuff is because nothing else has been supplied for it. Given the choice between "empty" and "stuff", "stuff" will always prevail. However, just because "stuff" is in there doesn't mean that "stuff" should be in there.
So there is room.
<< <i>We all know that we can't get a circulating dollar coin, mostly because the government will not discontinue the rag-buck.
. >>
Well, once Ted K. finally dies from cirrois of the liver, then we should kill the $1 bill, and have BOTH $1 and $2 (and maybe even $5) coins.
<< <i>Keep your hands off of my $2 bills! I have 96 of them on me as we speak. Lovely design, always clean, and useful denomination. >>
There's one in every crowd
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
I would like to see a $2 as well as a $5 coin.
<< <i>
<< <i>Yes and the "spare" slot is used for rolls of change,bundles of singles and checks ect. So there is no room. >>
The only reason those slots are used for that stuff is because nothing else has been supplied for it. Given the choice between "empty" and "stuff", "stuff" will always prevail. However, just because "stuff" is in there doesn't mean that "stuff" should be in there.
So there is room. >>
As long as you don't mind waiting in line even longer for the cashier to go get another roll of nickles to give you change. Money has to stay locked up so it's not like "the cashier" can make room by keeping that "stuff" in his/her pocket. LOL
<< <i>As long as you don't mind waiting in line even longer for the cashier to go get another roll of nickles to give you change. Money has to stay locked up so it's not like "the cashier" can make room by keeping that "stuff" in his/her pocket. LOL >>
The whole reason the cashiers need to keep rolls of coins easily on hand is because no one spends them. This is just another bit of evidence that our current coinage system does not work. If we had a vibrant working coinage system, cashiers would take in about the same number of coins as they dish out, and there would be no need to keep rolls on hand.
LOL.
<< <i>Well, once Ted K. finally dies from cirrois of the liver, then we should kill the $1 bill, and have BOTH $1 and $2 (and maybe even $5) coins. >>
It probably won't matter unless someone takes it upon himself to restart the lobbying effort by CoinCoalition.org. Absent that, talking here isn't going to help, even after Ted K. has passed.
Oh, and a forever stamp to go.
``https://ebay.us/m/KxolR5
Young Numismatist ............................ and growing!
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
don't know why they could'nt or can't make it here.
Why would anyone want to carry around $2 coins????
<< <i>The Loonie ($1) and Toonie ($2) work just fine for our northern neighbors,
don't know why they could'nt or can't make it here. >>
It worked because Canada did it the right way and eliminated the $1 bill.
Personally, I don't like small denimination paper. It is far easier for me to reach into
my pocket and pull out 4 dollar coins than to open my wallet and pull out 4 dollar bills.
And when using coins, I don't have to show everyone nearby the contents of my wallet !
If cashiers would ever figure out how much easier it is to pull 4 coins out of the till instead
of 4 raggedy bills, they'd be in favor of the coin too.
I've heard the story about Ted Kennedy's family ownership of the Crane paper
(the company that supplies the paper for US currency) and the theory that Crane
wouldn't want to lose the business if dollar bills were no longer printed.
That may be true, but it is just a smokescreen for the REAL reason the dollar bill
isn't discontinued.
Once you realize that the dollar coin and the dollar bill are issued by two completely different
(competing) interests, it all makes sense. The corporate-owned Federal Reserve bank ("Fed")
issues all paper currency (and digital credits), while the government-owned Mint issues the
dollar coins. The Fed does not want to lose the priviledge (and the benefits to them) from
issuing dollars bills.
Last year there was a bill in Congress to turn over control of the US Mint to the
corporate-owned Federal Reserve bank. That bill did not pass, but if it had, we probably
would have seen the dollar bill be discontinued in short order. And the supposedly
largest-in-the-world gold reserves, which the US Mint is the custodian of, would have
come under the control of the Federal Reserve Bank.
How about a four dollar coin for one gallon of gas ?
Oh, and a forever stamp to go.
Better yet, how about a "forever" coin good for one gallon of gas?
I think it's a really slick idea!
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
For coinage, people will always prefer the folders over the coins so until the folders go away, any dollar coinage regardless of denomination is just wasted production.
The name is LEE!
<< <i>For coinage, people will always prefer the folders over the coins so until the folders go away, any dollar coinage regardless of denomination is just wasted production. >>
I, for one, do NOT prefer the "folders" over coins.
<< <i>
<< <i>For coinage, people will always prefer the folders over the coins so until the folders go away, any dollar coinage regardless of denomination is just wasted production. >>
I, for one, do NOT prefer the "folders" over coins. >>
Nor I. For small denomination purchases (cup o' joe, for example), coins kick all over bills.
I suspect that many of the anti large denomination coin folk have not spent an appreciable amount of time traveling in countries where such coins are commonplace. Go to Britain, Canada, Japan, or euro-land and see the coins in action. Once one gets over their ingrained desire to dump their change in a bucket at the end of the day, one finds that the big coins make day-to-day life much easier.
<< <i>Here is my $2 concept coin:
Now that gets my vote....sweeeet!!!
Only one problem everyone would keep them thus no one spending them.
WS
The Treasury Dept needs to merge the US Mint and the BEP. That would help end the stalemate over a $1 bill vs $1 coin. It is mostly a turf war between these two branch departments of the Treasury.