I want a $2 or $5 circulating coin!

manymortages · December 1, 2009 2:22PM

Am I the only one here that lusts for US $2 and $5 coins?

Bochiman · December 1, 2009 2:29PM

Nope.
No desire for a $2 one (I use the $1 ones actually). Not really for a $5 either. I am fine for bills for that.

ecichlid · December 1, 2009 2:38PM

We need the loonie and the toonie!

kiyote · December 1, 2009 2:41PM

Dream on! The US will never make a circulating $5 coin.

GoldenEyeNumismatics · December 1, 2009 2:45PM

I would like to see a $100 circulating coin.

Type2 · December 1, 2009 2:57PM

<< We need the loonie and the toonie! >>

How about these two guy on a coin.

InternetJunky · December 1, 2009 3:01PM

Could you imagine walking down the street looking at the ground and seeing a $5 coin instead of a nickel?

Its amazing how much coinage is found on the ground from people simply dropping them by accident. Now THAT would be considered a lucky day!

Also, I think there would be a better chance with a $5 coin over a $2 coin. Nobody uses the $2 bill let alone would consider using a $2 coin.

Edit: Forgot to say - the public would hoard the $2 coin anyway, thinking they are rare and valuable!

dcarr · December 1, 2009 3:25PM

Say no to corporate-issue Federal Reserve Notes.
Say yes to Treasury-issue coins.

melvin289 · December 1, 2009 3:25PM

At least people couldn't tear the corners off $2 coins.

Ron

BECOKA · December 1, 2009 3:28PM

Having spent time in Japan, I am all for the $2 and $5 coins. They work great when they are a useful size and weight.

If the U.S. is serious about getting on track and cutting costs everywhere they can they will just force this on the public.

droopyd · December 1, 2009 4:27PM

<< Dream on! The US will never make a circulating $5 coin. >>

Many other countries have a circulating coin worth roughly US$5 -- Japan, Switzerland and the UK come to mind immediately.

determined · December 1, 2009 5:11PM

I would like a $2 or $5 coin. Those would be a useful denomination for the things I buy on a regular basis, IF the coins were to be promoted well.

I'm tired of going through this with the $1 coins:

Me: Here's your money.

Them: What's this gold coin?

Me: It's a one dollar coin.

Them: Huh? A one dollar coin? I never heard of these. Where does it say one dollar?

Me: Well it doesn't actually say "one dollar" on it. But see the "$1" ?

Them: Hmmmm... Well ... I ... don't ... know ...

If the $2 or $5 were well promoted, and I would like an attractive well thought out design, I would use them all the time.

StubbyMcNumbthumbs · December 1, 2009 5:58PM

Here in Australia, they have had the $1 coin since 1984 and the $2 coin since 1988. Before that, they had $1 & $2 notes, which were phased out around that same time. They are very popular and are probably the most used coins. As a metal detectorist, I especially like them, because, since they are used so much, they seem to get dropped quite often. Most days metal detecting, I find more $1 & $2 coins than any others. An average day out gets me $25-$30.

It was weird getting used to it at first (I moved here first in 1996 for 3 years and again in 2005 for good), but now I am a diehard fan of them!

The $1 coins are about the diameter of a quarter and about twice as thick. The $2 coins are about the size of a nickel and thicker. They are both a gold color, so they are easily distinguished from other silver-colored coins. They are Aluminum/Bronze (Made up of: 92% copper, 6% Aluminum, 2% Nickel).

It is not uncommon for me to have $10-$12 in coins in my pocket (5 or 6 coins).

Also, $5 notes are the smallest notes, and the 1 cent and 2 cent coins were phased out at the end of 1991, so everything is rounded to the nearest 5 cents.

It all seems to work quite nicely.

terribleredmonster · December 1, 2009 6:42PM

I seem to recall readin somewhere that the average circulating lifespan of a dollar bill is a little less than a year. With coins made to wear an easy 30+ years doesn't it seem like a no brainer to ditch the paper buck even if the coin costs 3-5x as much to make?

PerryHall · December 1, 2009 10:03PM

<< Dream on! The US will never make a circulating $5 coin. >>

The US already made a circulating $5 gold coin. Check your Red Book. Also, with continuing inflation, we may see future coins with much higher denominations.

WaterSport · December 1, 2009 10:45PM

It all seems to work quite nicely.

Exactly! But try telling that to pig headed Americans. Despite the savings in production, the congress and special interest of the coin counting equipment, vending machine industry, and the company who has the contract for making currency paper, plus consumer advocates have scared most folks into believing that all goods and services will cost us billions more if we give up even the cent.

WS

ProofArtworkonCircs · December 2, 2009 2:55PM

<<Many other countries have a circulating coin worth roughly US$5 -- Japan, Switzerland and the UK come to mind immediately. >>

Canada has toyed with the same idea.

melvin289 · December 2, 2009 3:17PM

I could and would use a $2 or $5 coin if available. I would use the $1 coin also but rarely ever see one in circulation. The public just hates anything different than what they are used to and refuse to make the switch. The government is going to have to discontinue the paper bills and make only coins for these denominations. Then and only then will people use them.

The only problem I see with it is Crongress is already salivating at the thought of a cost savings they can get their hands on to waste.

Ron

golfer72 · December 3, 2009 8:13AM

"so everything is rounded to the nearest 5 cents". So something that was two cents is now free?

PerryHall · December 3, 2009 8:23AM

<< "so everything is rounded to the nearest 5 cents". So something that was two cents is now free?

>>

No. They would be priced at two for a nickel.

ambro51 · December 3, 2009 9:01AM

Seriously, it seems as if I only use two mediums of exchange.

Either a $20 bill or a debit card. I hardly ever take the time to actually count out, or pay with coins. I just get them as a result of using the $20 bill.

DNADave · December 3, 2009 10:27AM

Seems there's no more trust in paper Dollars. Just so much ink on rags with a bunch of lip service to back it.

I'd use larger denomination coins, just as I use the dollar coin when I can get them.

ambro51 · December 3, 2009 10:31AM

ahhhh...but your not 'getting it' . the reason people use paper money is because it dosent seem like real money. thats the reason we use charge cards...because it dosent seem like 'real money' thats the reason paypal dominates ebay...cause its so easy to shift this virtual cash around and buy things...cause it dosent seem like real money.

but coins, especially big ones...seem like real money. Seriously, if you were to buy a 27.00 item with twenty seven Ike Dollars...even though we know that these things are worth exactly one dollar....wouldnt it seem like so much more "real money" than if you were to push the debit card?

mrpotatoheadd · December 3, 2009 10:33AM

<< "so everything is rounded to the nearest 5 cents". So something that was two cents is now free?

>>

How many things do you know of that are priced two cents? I can't think of any.

oldfolkie · December 3, 2009 10:44AM

We didn't need a coin with the buying power of 1/10 of a cent in the sixties, and we don't need the worthless penny or nickel now. A $2 coin and a $5 coin makes way too much sense for a politically polarized nation that would rather make coins that cost more to produce than they are worth. We would much rather throw away tax payer dollars on worthless coins and short-lived paper dollars. We don't use coins because they are worth next to nothing. Keep wishing, I too would love to see the bigger denomination dollar coins.

StubbyMcNumbthumbs · December 3, 2009 12:39PM

<< "so everything is rounded to the nearest 5 cents". So something that was two cents is now free?

>>

Technically, Yes! Although, nothing here can be purchased that cheap.

There was actually a TV commercial a few years back that showed this guy pulling into a gas station in a little French 3-wheel car and he's supposedly a very frugal (tightwad) person. He puts the nozzle into the tank and carefully pumps 2cents worth and puts the nozzle back. The unimpressed attendant says "That's 2cents, please." to which he replies "...and rounded that would be....?". The attendant rolls her eyes and says "free.". He smiles and says "Thank you!", gets in his car and slowly putters away.

I can't remember what they were advertising, but I remember that bit. It was very funny.

fishcooker · December 4, 2009 7:09AM

I don't buy enough $2 items to have any interest in a $2 coin or bill. I vote for a $5 half and $10 Sac, which would actually buy something.

BillJones · December 4, 2009 7:14AM

Great!

Something else that won't circulate, and something else to sell to coin collectors.

Pretty soon the Proof sets will have 50 coins in them, and the Mint Sets will be up to 100.

CEOGBOSE · December 4, 2009 7:16AM

I wouldn't mind a $5 coin but think it would suffer the same fate as the current $1 coins, not used.

I want a $2 or $5 circulating coin!

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