It's a fact, we hate dollar coins. It is rare that someone ever sees dollar coins in circulation, and it's because they're heavy and large. I think that the dollar coins would circulate more often if we made them smaller like British pounds or Australian dollars.
Kenny
- Verifying your Asian and British-territorial coins everyday with the best quality photos and the best information.
Quote: SmartOneKgThe debate has been going on for a long time.
It's a fact, we hate dollar coins. It is rare that someone ever sees dollar coins in circulation, and it's because they're heavy and large. I think that the dollar coins would circulate more often if we made them smaller like British pounds or Australian dollars.
I'm aware the debate has been going on for some time but obviously its starting to get a bit hotter for the Royal Mint to make comment. I'll be honest I have not read this one yet but hopefully will find time to do so tonight.
Every new Congress tries to do this. The reasoning is that the life expectancy of a coin is so much in excess of a banknote that it would save a small fortune in the yearly production costs. Newly elected Representatives like to have something to show the folks back home that in return for an exorbitant salary and lifelong pensions and health benfits they are taking steps to address the spending / debt problem.
It won't. Government doesn't work like that. Any potential savings won't be returned to the taxpayer, they will be simply spent somewhere else.The total savings are less than 1 billion, which in terms of the Federal Budget is pocket change. If the sponsors of these bills really wanted to address waste why don't they ask the State Department why it was recently caught trying to set up a "no bid" contract for 2500 Kindles at a cost of $6,600 each. Or why we borrow money from China at increasingly high interest rates to give to other countries as Foreign Aid, including China!
The current bill has no chance of passing, it may already be dead in the water. As young Kenneth said, Americans have a sentimental attachment to their "greenback". For my part, I'd love to see a bill passed for several reasons. The devauled dollar isn't the same as a buck of ten years ago, it's pocket change and I really hate having to dig out my wallet instead of simply pulling out a handful of jingle. Plus, I collect coins! I would love to see the Ike Dollars in circulation or even the presidential ones. Not the Susan B Anthony ones though, that woman gives me nightmares. An Ike dollar just feels like a powerful coin, it would probably kill off the lapdancing business though.
Non illegitimis carborundum est. Excellent advice for all coins.
Make Numismatics Great Again!
So unlike the UK when the government decided it was time to change it did and as a result there are a lot of variations in the pound coin to collect, don't get me wrong the people did not want this, where as with the US many people don't want this change even though it says 60+% would like it to happen it won't. Power to the people. (citizen smith) The UK bank note has a life expectancy of 3 month so I would imagine its pretty much the there, but as you say the cost saving is never seen by joe public as this is just spent elsewhere. Imagine how much the UK must have saved by now 30 years on from the pound note.
I think having the dollar notes is awesome. We don't have them in New Zealand, the smallest note is $5, but when I went to Fiji they still had $2 notes. I changed a single $50 note into a big stack of $2 notes and I felt like a millionaire. I wanted to throw them on the bed and roll in them like they did in "indecent proposal"
First time I read this thread I actually read it as "US $5 note to be replaced". I was pretty excited at the thought of a $5 coin, wouldn't that be awesome?
The smallest Swiss note is 10CHF. the 1, 2 and 5 Franken change is all coinage. Most of our change goes into one of those huge plastic coke bottle change holders. It's getting heavy.
Quote: glorkar... not a lot of people actually carry cash any more.
Really? I thought the documented illegal immigrant population, added to the huge undocumented illegal immigrant population and multiplied by the cash wallets of all the employers who wish to take advantage of a less expensive labour force, would arrive at about 20% - 25% of the population using cash only.
These would probably be the cash only individuals they know about...
Okay, so maybe there are still quite a few people that use cash. But the fact that they aren't making the money legally, they don't really get a say in what form that cash takes.
"What we are is not as important as what we aren't"
Quote: glorkar... they aren't making the money legally, they don't really get a say in what form that cash takes.
If citizens are going to have a say, I'm guessing most won't choose walking around with large coin change in their pockets and sounding like a Salvation Army Santa. The question is, will citizens always have a choice? I don't remember being asked if we should have the loonie or toonie in Canada. I believe the $5 bill was already mentioned and will probably be the next target of change. For now, they are planning to have it as a polymer note. When will the greenbacks go plastic?
It seems like they try to replace the dollar with a coin every five years. It probably won't happen, because I hated dollar coins when I lived in America, so did pretty much everyone else. I used to really piss off clerks by trying to use them.
If they had picked a design / size and stuck with it things might have turned out differently. Every time the government decides to change the currency, vending macine owners have to spend millions retro fitting their machines, cash drawers have to be redesigned and parking meters adapted.
We currently have three (?) dollar coins in circulation.... it's just like anything else the government "fixes", a shambles.
Just like Moochelle Antionette, it might look flashy but it just sucks up money without serving and real useful purpose.
47% of the population uses food stamps in place of cash anyway.
Non illegitimis carborundum est. Excellent advice for all coins.
Make Numismatics Great Again!
