Replace the dollar paper bill with coins?

Incubi · Post by **Incubi** » Wed, 9. Mar 11, 17:40

http://finance.yahoo.com/banking-budget ... -budgeting

Sure I am for it. Yes initialy it would probably cost more, but since the coin lasts much longer.....

Besides the concern of having too much change is a little over rated I think. Most people do not even use cash anymore, and when they do ,it is in low amounts, so these coins would not really be that much of a pain in the arse. In fact it would probably lead to needing less quarters ( quarter of a dollar in american money ) since most things that require quarters now require 4 or more anyway.

I do not think the retail industry would be too happy about the change however. It would require new coin slots and a redesign of our tills.

brucewarren · Post by **brucewarren** » Wed, 9. Mar 11, 17:45

America copies Britain, rather than the other way around for once.

Do you think they'll do a $2 coin as well?

EDIT: we've had £1 coins since 1983 and £2 coins since 1997

Dragoongfa · Post by **Dragoongfa** » Wed, 9. Mar 11, 17:49

I am surprised that they haven't done that already, with the current value of the US dollar it should be far more sensible for it to follow the Euro route when it comes down to coin and bill value.

RegisterMe · Post by **RegisterMe** » Wed, 9. Mar 11, 17:50

Rationally it's a no brainer, but these things aren't always rational. Look at the "old money - decimal" conversion in Britain, or our attachment to £1 notes. Likewise a town somewhere in Spain recently reintroduced the Peseta.

Should you do it? Yep. Will you? Not so sure....

.

Incubi · Post by **Incubi** » Wed, 9. Mar 11, 17:54

Heh some cheap people are worried about strippers. I mean really you should be using bigger bills

brucewarren · Post by **brucewarren** » Wed, 9. Mar 11, 18:04

I can see the headlines now:-

"US Treasury introduces dollar coins to raise the wages of strippers"

Incubi · Post by **Incubi** » Wed, 9. Mar 11, 18:07

brucewarren wrote:I can see the headlines now:-

"US Treasury introduces dollar coins to raise the wages of strippers"

lol

Anyone know the switch in other countries that also have strippers, how it affected their income? Did it suffer? Stay the same? or improve?

Tracker001 · Post by **Tracker001** » Wed, 9. Mar 11, 18:48

This would be more of eliminating the paper dollar . The U.S. has had coin dollar for maney years.

Incubi wrote:Heh some cheap people are worried about strippers. I mean really you should be using bigger bills

As for the throw your money away club ,thay have used credit cards for a long time .

Nyax · Post by **Nyax** » Thu, 10. Mar 11, 00:03

I was reading about this a while back apparently the US treasury has been making dollar coins for years now, and there's now so many that if you could put them all in a single stack you'd end up with a tower 3 times higher then the orbit of the international space station! There's literally billions of US dollars in the form of on daollar coins.

The trouble is geting people to accept them. People won't use them and many shops won't even accept them as legal tender, even though they are.

Seems like the only way they'll ever get them into common usage is by scraping the one dollar note.

philip_hughes · Post by **philip_hughes** » Thu, 10. Mar 11, 01:10

We have 1 and two dollar coins. Its good news for buskers

Aro · Post by **Aro** » Thu, 10. Mar 11, 20:45

Non-paper currency also makes vending machines sooo much simpler to use.

Usenko · Post by **Usenko** » Fri, 11. Mar 11, 07:34

You still have paper currency? My word, I thought the USA considered itself ADVANCED!

We have polymer notes which are longer lasting, more attractive, better in vending machines and (for all practical purposes) impossible to forge[1]. Why do you persist with paper?

[1] Okay, not impossible - but impossible unless you can get an approximation of the plastic, which puts it beyond anyone smaller than a multi-national crime syndicate. At this point I am yet to hear about a single case of forgery.

BeidAmmikon · Post by **BeidAmmikon** » Fri, 11. Mar 11, 07:36

Utah Legislature goes for gold, silver as currency options - Seen as hegde against dollar slide
What's 1 Dollar these days anyway...

T.S.Zatoichi · Post by **T.S.Zatoichi** » Fri, 11. Mar 11, 07:59

@Usenko, Our bills over here are printed on a paper/cotton blend with a few strands of colored silk thrown in for some spice.

They've actually made them pretty hard to counterfeit nowadays too.

Regarding your high tech advanced polymer paper, it doesn't matter what you print your bills on we're still going to see it as "Monopoly" money.

Usenko · Post by **Usenko** » Fri, 11. Mar 11, 09:04

I'd like to see a monopoly set with money this good!!!!!

"Pretty hard to counterfeit" . . . Pfffft. Yes, it's fancy paper, but it's paper. Someone has to be fairly observant to know the difference between a newly printed note and a phony, if the general feel is right .

Not so with polymer. I have yet to feel any material that even approximates it. You can tell that a note is a phony in the dark or if you are blind! No matter how good your laser printer is, it simply can't produce a realistic fake.

(Remember, we used to have paper notes too. We got rid of them because the polymer is BETTER).

"Pretty hard to counterfeit" vs "Virtually impossible to counterfeit". Which do YOU choose?

Oh, and calling our currency "Monopoly money"; You've got a hide, considering what the Greenback is worth ATM.

(Note: Humour accepted in spirit given! But right of reply is assumed.

)

T.S.Zatoichi · Post by **T.S.Zatoichi** » Fri, 11. Mar 11, 16:46

The Monopoly money crack was more referring to all the pretty colors every one else uses, than its current value

Paper feels completely different from real bills, that's why counterfeiters bleach low value bills to print on.

And yes I know polymer would be better, (and eliminate the bleaching method) but our Chinese overlords would never allow it.

Retiredman · Post by **Retiredman** » Fri, 11. Mar 11, 17:07

Coins wouldn't be a problem except the cheapscape politician approve coins that no larger than a quarter.. They get mistaken by the public and
people can't tell the difference between the two when grabbing to put money in a vending machine. Especially at night or in a darken area.
Many vending machines can't tell the difference. Bigger coins would force venders to redesign their machines offsetting the cost saving by the companies who will deduct the redesign on corporate taxes as overhead costs.

There have been dollar coins in the past that were different in size.
But many were melted down for their silver when the silver was worth more than the currency. Thats they problem with coinage. the metal is worth more than the value it represents.

This question has been floating around for the past 50 years with no resolve. I think this is going the same way.

cappedup · Post by **cappedup** » Sat, 12. Mar 11, 01:31

ive only been going to the US for a couple of years, but im bored of 1 dollar notes. American money is all the same colour and size. I open my wallet and im faced with a bunch of bits of paper, and it isnt instantly apparant whats in there. Yes, you might say i should know, but sometimes i'm drunk, so am not sure.

I remember when the £1 coin was introduced in the UK and i loved it, and still do. Miss the 1/2p though. Just loved that coin.

A $1 coin would be a great change. And would slip into a strippers otters pocket no problem. I would imagine!

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Replace the dollar paper bill with coins?

Replace the dollar paper bill with coins?