Replace the paper dollar with coin article

In today's USA Today. Maybe this idea is getting some traction
http://www.usatoday.com/news/washington/story/2011-10-24/dollar-enters-deficit-debate/50898164/1

 

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Though I'm all for doing away with one dollar bills, I have to ask why they always revert to the "It'll save billions" remark. It doesn't cost a thing for the government now. It cost a few cents to make a dollar and they sell it for face, no matter how many they make. So, where is the loss? They must think people are beyond stupid.
Guy

 

I'm sorry, but why do you want to get rid of the paper one dollar bill? What reasons?

 

No, no, no, no, and no! We are not going to get rid of the one dollar FRN... It's too popular and the demand for it is too high. It wouldn't be for a long time anyways...

 

It wouldn't work at the strip clubs first of all. You try folding a presidential coin into a tee-pee, its harder than all get out!

 

Popular how? I don't recall a poll being taken. Everyone complains a dollar is worthless now, so why not get rid of it? The same people who complain about the dollar coin's weight are probably the same people who carry little to no cash anyways. How many one's does an average person carry? Those are my reasons.
Guy

 

Most of what the BEP prints are replacement notes, carrying the total cost of printing with no profit.
Switching from paper dollars, with each lasting 18 months on average, to coins, with each lasting 360 months or more, is extremely cost effective. With a paper dollar costing $0.07 to produce, and needing 18 over the course of 30 years, the paper dollars total cost is $2.10, but one dollar coin, that will last for all of those 30 years, if not more, costs $0.31. A total savings of $1.79 over 30 years. Multiply that by the billions of $1 dollar notes that are printed. That's not chump change!

People will get used to it. They've done it in other countries, why would we be different?

 

We'd be different because this is America and we have it our way! Haha.

 

Yup... Instead, people would be forced to throw $2's at strippers. Not such a bad deal afterall for them. I still oppose it, but I will admit that is one positive side. But then again, is the government really trying to support such a business?

 

I don't think so much the government as it is people who enjoy that type of activity. I oppose it too, carrying ten dollars in paper ones is wholly a lot different than ten dollars in change. I would just join that elite group of people who live off their debit/credit cards. I suspect more people will be doing this as a result.

 

That would create less of a need for dollar coins, saving even more $.

 

I've yet to read one argument against eliminating the paper bill that was not a moronic plea based upon some isolated situation.

 

Probably because there isn't any that aren't moronic.

 

While they're at it, they should stop making those silly little copper and zinc coins too. What a waste.

 

What do you mean? "...based upon some isolated situation". What are you referring to?

 

How about we bring back fractional currency into the mix, now that will be exciting!

 

Because it is cheaper to make a Dollar coin than a Dollar bill, Cole. The coin also lasts almost 20 times longer. You save money from the initial cost of making the coin vs. the bill, and then you make less of them over the same period. you save money in both of these ways. I think that rickmp said it very well.

Why do you cling to it? What reasons?

This discussion has been diverted and diluted with all of the talk for strip clubs. You ask a question and obvious evidence is pointed out and you say that this is America and we have it our way. Well, that is Burger king, not America and that kind of thinking is not only flippant and not funny, but it's dangerous. Clinging to antiquated ideas in the name of convention and tradition seems to be the American way, but allowing the criminally stupid to force us to remain in that way is not.

So, tell me... why do you love it so much?

Oh and jloring and lyds, I couldn't figure out on which side you stood. Are you saying that argument to keep the dollar bill are moronic, or arguments to get rid of it are?

 

Well I see this is the October 2011 issue of the same serial that started in the 1970's with the Ike's. BTW those Ike's are still around too.

 

They're saying the arguements to KEEP it are moronic.