4 senators introducing legislation to get rid of dollar bill, replace with coin

[wfgodot]

Perhaps Americans would like it better if we scrapped using a historical personage on the obverse of the coin, and went with something more Loonie-like. My choice. (First dog uniquely bred in America, so there's a tie-in btw.)

 

[BritsKate]

Isn't that because they didn't go over well the first time "they" tried this?

America's tried it several times but the problem is they never took dollar bills out of circulation. You must take away people's choice for it to succeed. There is likely to be resistance to major change no matter what the benefits or drawbacks, I think.

I went from nickels, dimes, quarters and bills to pence and notes (with £1 coins). People can, and will, get used to it if they have to. JMO

(England has coins for .01, .02, .05, .10, .20 and .50 pence, coins for £1 and £2 then notes for £5, 10, 20 and 50.) Hubby is still traumatised by the loss of the half-penny which bumped up the price for his favourite sweets. :floorlaugh:

 

[Trident]

Thanks to you and the Canadians for the calm voices of experience.

I confess that my first reaction, too, is to be against this. But if you guys say we'll get used to it, I'll keep an open mind.

Why SHOULD we have to "get used" to this? Already we are set up to print paper money, LOL (we do enough of it), so where are the "savings"?

 

[Trident]

America's tried it several times but the problem is they never took dollar bills out of circulation. You must take away people's choice for it to succeed. There is likely to be resistance to major change no matter what the benefits or drawbacks, I think.

I went from nickels, dimes, quarters and bills to pence and notes (with £1 coins). People can, and will, get used to it if they have to. JMO

(England has coins for .01, .02, .05, .10, .20 and .50 pence, coins for £1 and £2 then notes for £5, 10, 20 and 50.) Hubby is still traumatised by the loss of the half-penny which bumped up the price for his favourite sweets. :floorlaugh:

Point well taken, LOL. At least the weight of the "coins", unless you're rich enough to have foreign currency, will stop the average citizen from running away with a lot of money, and just think of all that coinage in your pockets when you go through airport security.

Methinks the American public needs to put a HALT to this.

my opinion only

 

[Trident]

Thing is, a person typically doesn't have much reason to carry 30 $1 bills, and the same holds with $1 coins. Many countries have moved to coins for lower denominations without the sky falling. Considering that prices for items in vending machines are often more than $1, the argument can be made that it will be a reduction in coin weight for many, as it's lighter to have one $1 coin than it is to have 4 quarters. Ultimately, it is a cost saving.

Since I never use vending machines, it would be rather an inconvenience to me, and I DO often carry $30 or more.

 

[Donjeta]

I have grown up using coins for small change and I never considered it an inconvenience. I guess it's what you get used to. I think I've personally saved a pretty penny over the years because coins weather it better when you forget them in your pocket and launder them

 

[redheadedgal]

first reaction: copycats! :crazy:

second reaction: after a while it'll be so "normal" that when you receive a $1 bill as change, you'll be like "cool! haven't seen one of these in a looooong time..."


it'll be fine. promise.

:twocents:

 

[redheadedgal]

btw, i keep two change jars... one in my home and another in my car. if you keep emptying your pockets, purse, wallet etc, it's amazing how fast it'll add up = treat for me!!

 

[Footwarrior]

Why SHOULD we have to "get used" to this? Already we are set up to print paper money, LOL (we do enough of it), so where are the "savings"?

Dollar bills wear out and have to be replaced after only a few years in circulation. The average coin lasts roughly 30 years before it wears out.

 

[Tuffy]

It wouldn't bother me one way or the other. I could get used to dollar coins easy enough. They just have to quit printing the paper dollars at the same time, though. When they do both, many people default to paper dollars, and the coins become a novelty that ends up being collected.

If we're going to go to the $1 coin, I say go ahead and do it. Just don't print the paper dollars anymore.

 

[Tuffy]

btw, i keep two change jars... one in my home and another in my car. if you keep emptying your pockets, purse, wallet etc, it's amazing how fast it'll add up = treat for me!!

We do that too, readheadedgal! Then we take it to coin star, and it's like you've won the jackpot. lol

 

[Evan's Mom]

Perhaps Americans would like it better if we scrapped using a historical personage on the obverse of the coin, and went with something more Loonie-like. My choice. (First dog uniquely bred in America, so there's a tie-in btw.)

My choice too.
I'm still trying to figure out a way to talk my fiance into letting our BT in our wedding next year.

 

[Footwarrior]

It wouldn't bother me one way or the other. I could get used to dollar coins easy enough. They just have to quit printing the paper dollars at the same time, though. When they do both, many people default to paper dollars, and the coins become a novelty that ends up being collected.

If we're going to go to the $1 coin, I say go ahead and do it. Just don't print the paper dollars anymore.

That is how Canada and the UK made the transition. I have heard that it was proposed here, but shot down by two powerful Congressman. One from a district where the company that makes the special paper for currency is located. The other from the district where most of our bills are printed.

 

[legalmania]

Actually it's a great time to make the change. We have had a well designed dollar coin since the year 2000. Any vending machine produced in the last 30 years can accept this coin. The US Mint and the Federal Reserve have over a billion dollar coins sitting in vaults ready to ship. And we will save money over the long run because dollar coins last far longer than dollar bills.

I'm thinking about the exotic dancers and waiters and waitress how are they supposed to carry around all that change? I'm sure the
Susan B. Anthony coin is sitting in that vault which was a big flop.

 

[Emma Peel]

oh joy.

Is this the change part of "Hope & Change"?

I guess I'm feeling conservative about my $1 bills. LOL.

The loonies & toonies are aptly named. They always sneak there way across the border here quite often, live in my change cup, and make me :crazy: at the toll booth.

 

[passionflower]

I remember years ago they tried this with the susan b anthony dollar..........failure!
Also can you imagine how heavy our purses will be? LOL, I always carry ones........

 

[krimekat]

again? Whatever - actually Planet Money on NPR did a great study on the coin dollar & how we do produce it, but store them , , , it will never fly . . .

wish I had a link: it's on iTunes, but if I find it, I will post - very interesting the money & the reasons why we STILL product $1 coins

http://www.npr.org/blogs/money/2011/12/14/143648506/white-house-kills-dollar-coin-program

 

[krimekat]

I'm thinking about the exotic dancers and waiters and waitress how are they supposed to carry around all that change? I'm sure the
Susan B. Anthony coin is sitting in that vault which was a big flop.

> $1B in storage . . . :floorlaugh:

 

[hopingicanhelp]

It may be me but, I think we have a few things that are just a tad bit more important right now. I think things like the economy and healthcare should be prioritized right now. This legislation will take time and money something we don't have a whole lot of these days. I think it would be a little bit of a inconvenience for people who work for tips.

I apologize in advance to those whom I may offend...what about exotic dancers? It's one thing to have several dollar notes stuffed in your underthings than it is to try to dance, work the pole, etc, with a crotch full of coins....just sayin'...heck, maybe they'll get some big fat raises!

 

[LadyL]

oh joy.

Is this the change part of "Hope & Change"?

I guess I'm feeling conservative about my $1 bills. LOL.

The loonies & toonies are aptly named. They always sneak there way across the border here quite often, live in my change cup, and make me :crazy: at the toll booth.

see, if the U.S. would accept Canadian change, then you wouldn't go all loony

we take your coins and our dollars have been pretty even for quite awhile
:truce: