New Dollar Coin Out Thursday

[Kt Templar]

Ooh, dollar coins? I've never seen one of those. Can somone send me one?

(was worth a try!)

We went to the pound coin many years ago and the note disappeared a few years later. The note is hardly missed it's really too small.

Even though the pound is worth about $2, the coin works very well, we also have a £2 which seems rarer.

Because of a chronic shortage of £5 notes there is a opinon in some circles that £5 coins should also be issued. (There have been some but only as collectors pieces).

 

[Baron Kurtz]

Ahh, the good ol' Scottish pound note. Still legal tender up dere in the boonies, you know . . .

bk

 

[Phil]

Because of a chronic shortage of £5 notes there is a opinon in some circles that £5 coins should also be issued. (There have been some but only as collectors pieces).

I noticed that when I was in London. In several shops I had a change of £7 or £15 and I either got a hand full of £1 and £2 or a £10 note and a hand full of £1 coins. I have to say though. I did like the feeling of holding a bunch of £1 coins, I'm not sure why though. Pirate mentality?[huh]

 

[BegintheBeguine]

Sacagawea Golden Dollar

Please don't forget sweet little Pomp, whose 202nd birthday was Sunday.

 

[Maj.Nick Danger]

My simple solution to all these monetary woes.

It's easy. We make coins only in 1 dollar, 5 dollar, 10 dollar, 25 dollar, 50 dollar,100 dollar, and 500 dollar denominations,...all from pure 24 carat gold. All wages are,...uhhmmm,...20 dollars a week, and everything costs no more than 500 dollars! Simple,...no? P.S. I think I should run for office this next election because I'm always right and I never lie, so I'm counting on your vote America. I will ask Senator Jack to be my running mate.

 

[The Wingnut]

I hate change in my pocket...so much that I seek out wallets with built-in change purses. I empty the change compartment in the wallet when it starts to make the wallet too thick. Carrying singles as coins is only going to make the 'pocket bulk' issue worse, and the majority of the population is fairly comfortable with singles...in fact, it's the ONLY bill that hasn't been redesigned with anti-counterfeiting features due to the fact that it's not cost-effective to counterfeiters to produce $1 bills.

As to the vending machine issue, most of them now accept paper bills, making the use of a dollar coin moot. Dollar coins have been around for eons, long before vending machines, and vending machines have always accepted quarters as the largest coin.

It's just plain easier to carry paper money.

 

[Miss Neecerie]

I hate change in my pocket...so much that I seek out wallets with built-in change purses. I empty the change compartment in the wallet when it starts to make the wallet too thick. Carrying singles as coins is only going to make the 'pocket bulk' issue worse, and the majority of the population is fairly comfortable with singles...in fact, it's the ONLY bill that hasn't been redesigned with anti-counterfeiting features due to the fact that it's not cost-effective to counterfeiters to produce $1 bills.

As to the vending machine issue, most of them now accept paper bills, making the use of a dollar coin moot. Dollar coins have been around for eons, long before vending machines, and vending machines have always accepted quarters as the largest coin.

It's just plain easier to carry paper money.

Yes...but it costs the treasury more money to keep replacing paper money, then coins as the coin money simply lasts longer.

Its not only about being convenient to people, its about spending a bit less of taxpayers money, and reducing the deficit.....

 

[The Wingnut]

I'd be interested in seeing the cost of replacing the bills versus the cost of converting to strictly coins, both federally and on the public side.

 

[MudInYerEye]

I'm very much looking foward to the James K. Polk dollar. Finally his day has come. Shoot the moon, the eagle has landed.

 

[MrBern]

I'd rather have dollar coins than 4 quarters clanging out of vending machines.
But I'd love to see more $2bills in circulation.

Now pennies, thats a pain.

 

[Vladimir Berkov]

Pennies are a problem.

I think that perhaps instead of getting rid of the penny, someone needs to invent a vending machine that takes pennies. It would have all sorts of interesting, inexpensive things. Maybe the most expensive would be a pack of gum.

Either that or perhaps legalize penny slots for all locations? Even I (who generally am unterested in gambling machines) would use penny slots to get rid of excess pennies. And if you win the machine could give you useful coins like nickels and dimes!

 

[MrBern]

coins in the machine

http://www.earthtimes.org/articles/show/30417.html
Snippet:
The US vending machine industry likes the idea, a contrast to the complaints that accompanied the introduction of euro coins in Europe.

"We like it because coins work literally 100 percent of the time. Dollar bills work at best 98 per cent of the time," said Tom McMahon, senior vice president at the US National Automatic Merchandising Association.

In an industry with turnover of 30 billion dollars a year, two per cent means 600 million dollars in lost sales due to poor-quality dollar bills, he said

At least 80 per cent of US vending machines should accept the new dollar coins because they were set up to handle the earlier editions, McMahon said.

His appeal to US retailers: "Just put up a little sign that says, 'We have dollar coins.'" We think more and more people would ask for the coin in change, and over time people might find it a bit of
useful money."

 

[cookie]

Dollar coins

Down Under we have dollar coins and the smaller two dollar coins then youhave the AUD5 notes.

We got rid of the one cent coins and the lowest is 5cents and we round up.

No problema.

America get with the (rest of the world) program! You still have notes in one colour. How dumb is that?

 

[Clara Noir]

I think the British Pound is sorted; £1 coins, £2 coins to make it easier when you run out of £5 notes, or don't have time to cellotape them together between serving customers. I do think life would be easier and cheaper with a £5 coin. Also, the coin would survive a trip through the washing machine (if it ever made it that far, given the weight) better than a note.

That alone would save a fortune!

 

[K.D. Lightner]

The problem with penny slots is that you can really spend a good deal of money just to spin them -- some will take several dollars worth of pennies per spin. I'd hate to lug all the pennies I'd need to play penny slots at the casinos I frequent. I know there are people who play one penny/one line. They never win anything.

If the US converts to coin dollars, I might actually save money. I spend bills, but obsessively save coins, dumping them into a basket I keep on my dresser. For years, I needed quarters -- for parking meters, laundromats, vending machines, etc. Now, I don't use them and so manage to save a couple hundred dollars worth of quarters in a few months. Enough to buy another fedora from Art.

Add dollar coins to that and it becomes a real savings account.

And, yes, I am looking forward to collecting Polk, as well as Martin Van Buren, Franklin Pierce, James Buchanan, James Garfield, and even those 20th century guys, Taft, Coolidge and Hoover.

karol

 

[MrBern]

 

[buelligan]

Here's another spin on things. The prievious doller coins have not failed. Yes its true you hardly see anybody spending them because most everyone collects them. This was planned and hoped for, by makeing a coin that people want to collect the government knows that eventually they will be worth more than a doller thus makeing them a good deal (for the government that is). Also I dont know where you guys are getting your coins from but here in Ohio neither the Susan B or the Sacajawea are the same size as a quarter. Mind you they are not much bigger but bigger non the less.

 

[Phil]

America get with the (rest of the world) program! You still have notes in one colour. How dumb is that?

We're America, our money stays mainly green because we like it that way. The color of money is green. Not pink, or purple, or all the random colors in between, those colors are reserved for Monopoly money. I rember having a Swiss 10 Franc note, it looked all fake and play moneyish. The reason our money being one color is the same reason we don't run on metrics or spell color with a "u". We seperated from England July 4th, 1776 and we like it that way.

 

[Miss Neecerie]

Here's another spin on things. The prievious doller coins have not failed. Yes its true you hardly see anybody spending them because most everyone collects them. This was planned and hoped for, by makeing a coin that people want to collect the government knows that eventually they will be worth more than a doller thus makeing them a good deal (for the government that is). Also I dont know where you guys are getting your coins from but here in Ohio neither the Susan B or the Sacajawea are the same size as a quarter. Mind you they are not much bigger but bigger non the less.

How is something a ' good deal' for the government when they need to make both the coins -and- produce a constant stream of bills? That pretty much means it costs -more- to make two kinds of the same denomonation of money....not less...

They are microscopically larger...not larger in a way that facilitates instant hand in pocket detection of which is which......

 

[Miss Neecerie]

We're America, our money stays mainly green because we like it that way. The color of money is green. Not pink, or purple, or all the random colors in between, those colors are reserved for Monopoly money. I rember having a Swiss 10 Franc note, it looked all fake and play moneyish. The reason our money being one color is the same reason we don't run on metrics or spell color with a "u". We seperated from England July 4th, 1776 and we like it that way.

Since this is an international message board, you might want to attempt to control your youthful patriotism and not insult other nation's money as 'fake and playish' and thus attribute it all to our independence from England.....while using a Swiss Franc note as an example...since they have nothing to do with our money policy either.