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Is the mints plan to get more $1 coins in circulation working?
rec78
Posts: 5,944 ✭✭✭✭✭
I have not noticed much of a difference, if any. It seems that the only $1 coins that i see in circulation are the ones that i put there. I just saw on the mint website that you can order up to 5000 native american dollars at face value. i may get some later. I think that most are returned to the banks after collectors look for high grades or errors, but as for the circulation aspect - i don't think that it has made much of a difference. I see no more now than i did before the program began. I guess that nobody really wants a circulation $1 coin. Have you seen more $1 coins circulate than before the program began? Bob
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back in change here in Vegas.
bob
<< <i>I have never received a dollar coin of any kind in change >>
<< <i>No...it's not working & won't work until Congress decides to eliminate the $1 bill. I've yet to receive one back in change except from a P.O. Stamp Machine. >>
I would gladly take the dollar coin over the dollar bill. Maybe what Congress has planned is mint all the presidential coins, and once that is done then eliminate the dollar bill. IMO it would make sense, because if they eliminated the dollar bill now, there wouldn't be enough dollar coins to go around. (Banks, any kind of retail store, any place that does ANY kind of business, hoarders, vending machines, the list goes on.)
In my experience, seeing any dollars in cash registers (and I do) is a change. So the answer is YES, but only to a very limited degree.
They would much rather handle a paper bill over yet another coin. Hard to envision them selecting the $1 over the bill when they have a choice.
.............it's really up to the dummocrats in congess.
I can access any President or Sac anytime, anywhere, within my home.......
Miles
No!
and
NO!
The coin will NEVER circulate until the paper buck goes BYE-BYE!
The name is LEE!
Imagine, just like Vegas...everybody happy everybody a winner.
Swipe your card, Press "100" and out comes handfulls, Hatfulls! of nice dollar coins.
Bells ring, lights flash...the coins jingle down into the tray!
This means the mint pays to get these into the hands of
the consumer and then the banks remove them from circulation
as soon as they get to the bank.
For a coin to circulate it has to be issued by the banks. There is
just no other way.
............i think the mint is starting to depend on direct shipping to get things started.
Dollar coins are unpopular because people don't like to carry change.
The folks who advocate eliminating the dollar bill miss the point- a large majority strongly prefer the bills to coins.
even smaller coins don't really circulate the way bills do. Most coins just go from the cashier's drawer, to a pocket, to a jar where they sit until eventually brought to the bank.
<< <i>even smaller coins don't really circulate the way bills do. >>
Of course they don't- you can't buy anything with them until you have a pocketful. The dollar has lost over 90% of its value in the past 100 years, but (aside from restricting ourselves to using ever-lower denominations, which is entirely backward if stop for even a second to think about it) our coinage system hasn't changed a bit.
Not completely true, they have stopped issuing half dollars for circulation and shrunk the size of the dollar coinage.
Of course they are still pumping out millions of cents each year but do manage to sell these directly to the public for $8.95 per two rolls.
<< <i>no.
Dollar coins are unpopular because people don't like to carry change.
The folks who advocate eliminating the dollar bill miss the point- a large majority strongly prefer the bills to coins.
even smaller coins don't really circulate the way bills do. Most coins just go from the cashier's drawer, to a pocket, to a jar where they sit until eventually brought to the bank. >>
People haven't had a chance to vote on this because the banks don't issue
the coins. Since the banks don't issue the coins most vending machines won't
accept them. Since the banks don't issue the coins we don't really know that
people don't like the coins.
People need a chance to get used to all change. I've little doubt that most
peoples' initial reaction to the coin is negative. Without getting rid of the pen-
ny it's less likely people will want the dollar coin since their pockets are already
weighted by the worthless cents. It would take time to get people used to
spending coins again.
<< <i>"our coinage system hasn't changed a bit. "
Not completely true, they have stopped issuing half dollars for circulation and shrunk the size of the dollar coinage. >>
Well, if you're going to be picky, they've changed the compostion of most denominations, too.
BTW- I did say "aside from restricting ourselves to using ever-lower denominations", so I think I had your first objection covered...
Not so much an objection, its just I'm use to speaking with attorneys and smart alec teens hence having to pick on every nuance.
I still like the article that stated in Canada, prior to getting rid of their paper dollar most people were against a dollar coin. I think it was 70+%.
About 18 months after the switch the public was polled again. This time a majority liked the dollar coin.
I still do not think the paper dollar will go away until the Kennedy family is out of power because of the mentioned connection with the special paper manufacturer for paper money they have an interest in. At least that is what folks on this board have posted.
<< <i>No...it's not working & won't work until Congress decides to eliminate the $1 bill. I've yet to receive one back in change except from a P.O. Stamp Machine. >>
<< <i>I keep ordering, cherry picking, and spending the rest. But, alas, not one ever given
back in change here in Vegas.
bob
My wife has gotten a couple in change but I never have, we're here in Vegas too.
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
What's easier to carry in your wallet?
20 Dollar coins or 20 Bills?
I guess either way you'll end up with a fat wallet but the coins are heavier.
``https://ebay.us/m/KxolR5
<< <i>I think most people take the easy way out.
What's easier to carry in your wallet?
20 Dollar coins or 20 Bills?
I guess either way you'll end up with a fat wallet but the coins are heavier. >>
You carry your coins in your wallet? Strange.
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
They should just move the decimal point on the half and dollar so they are $5 and $10 coins. That way they would buy something useful.
<< <i>No the plan doesn't work. However, they are handy for tolls and parking meters.
They should just move the decimal point on the half and dollar so they are $5 and $10 coins. That way they would buy something useful. >>
Cmon, don't be so logical. You're going to upset Uncle Sam.
``https://ebay.us/m/KxolR5
the Mint keeps cranking them out - so far this year the total is over 200 million
I've purchased 1750 dollars thru the direct ship program and i bet most are headed
back the Federal Reserve in due time - when i spend them, most cashiers i see put these coins in
oddball slot in the back of the drawer
Snowman