The Presidential Coin Scandal

You will see an unintended benefit. the return of the two dollar bill as circulating currency. There are several clubs in the northeast that have started the practice of giving change for drinks with two dollar bills to help out the girls (or so I've been told}

 

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Hasn't everyone here ordered their monster bags, I want one of each. :devil:

http://www.usmint.gov/bulk/

 

If the US government hadn't made the dollar coins,
the money they saved could have kept the Arab wars
going for one more day.

Or even two days.

 

What money saved? If they HADN'T struck the coins there would have been a billion dollars LESS deposited into the Treasury General fund and that would have meant an additional billion dollars added to the deficit. (Assuming they still spent the same amount.)

Well, I knew they had the quarters in the bulk program. I didn't realize they had the dollar coins in it as well.

 

The only "problem" with the Direct Ship program is that each dollar coin that folks spend, gets turned into the Bank at the end of the week as merchants DO NOT offer them back as change. So.......the Direct Ship program is simply a program whose design was stupid to begin with and ultimately ONLY benefits collectors.

As for the strippers? Come on you cheapies, stuff a fiver in her G String!

 

Thgis study has already been conducted by GSA. I believe around 2008 being the latest however, the idiots in Congress who care more about getting re-elected than actually serving the country, choose to ignore the study over the more popular battle cry of "Folks Don't want Dollar Coins". The GSA oughta conduct a study to find out exactly how many folks would thumb their noses at a dollar coin if presented with the fact that it would "Save" hundreds of millions of dollars in the long run.

 

Those may be the facts of the case but simply do not address the silliness of putting a cup of coffee between your legs while driving down the road (from what I understand). Thats why they make cup holders and that's why they constantly shout "Don't Drink and Drive". "Don't Eat and Drive" "Don't Text and Drive" "Don't Talk on your Phone and Drive".

A reasonably intelligent individual will only DRIVE while they are Driving.

 

Thats still pretty cheap unless you consider dancing naked in front of a bunch of folks easy. Givem fivers!

As for the two dollar bill, thats another good contender for a coin.

 

Really? The Federal Reserve doesn't even have any Native American coins. Those are stored by the Treasury Department.

It's not REALLY the monetary amount at issue since nobody REALLY knows how many one dollar bills are sitting in the Federal Reserve Printing Shops waiting for distribution. We DO know that they printed up a $BILLION in $100 bills which are sitting in storage because they cannot be used due to some type of problem though.

The entire point being is that folks should not be given a choice. They either make the bills or they make the coins. The bills cost money due to attrition while the coins SAVE money over the long run.

The Vending Machine lobby (the one dollar coin killers of the past) doesn't even have a complaint since most if not all the new machines today accept one dollar coins.

 

But the seigniorage profit has still been credited to the Treasury General fund.

And the Fed has some NA dollars, the ones that are being sold on the direct ship program, being deposited back in the banks and shipped back to the Fed.

The really silly thing is that now Taxpayer money IS going to be spent on these coins because they are going to build a new storage facility to keep all these coins in. (You can inagine what that will cost. Government specs, over runs, high security facility, alarms, guards etc.) If they would stop the dollar note htey would go into circulation and they wouldn't have to spend taxpayer dollars to build a place to store them!

Oh and since the production of the two dollar notes will have to be ramped up, the seigniorage deposited into the Treasury general fund by the BEP will greatly INCREASE!

 

Here’s an idea: America is heavily in debt to China and various other countries. Why not pay off some of our debt with these coins? A dollar coin has the same value as a dollar bill… :devil:

 

This is true. I've used them at self checkouts with no problems whatsoever. Frankly, I like the convenience.....

 

Interestingly, our dollar coins are well used in places that have adopted the US dollar as their monetary unit--El Salvador (formerly used the colon), Ecuador (formerly used the sucre) and Panama (continues to use their balboa and centesimos in conjunction with the US dollar and cents and has done so for many, many years).

 

I was under the impression that these came from the PBGS Facility. Are you suggesting that PBGS Orders them from a Federal Storage Facility, repackages them and then ships them out? Or are they sent directly from US Mint Storage for packaging? The US Mint DOES have Storage Facilities. It's where they keep all them silver coins/commems and Kennedy's and Proof sets and "what not's" that they make up every year.

The July 25th Coin World quoted the Dallas Federal Reserve as stating that $650,000 would be spent for a storage facility. Thats pretty danged cheap ($650,000 over the next 4 years) for a secure facility. Unless of course, its BS wrapped around the cost of converting one of their already secure warehouses?

The Two Dollar Bill should have been stopped ages ago or at the minimum, made as a coin.

I'm of the opinion, based upon the absolute silliness of suggesting that a waste has occured, the both bills before Congress were initiated by the Federal Reserve as they are obviously tired of playing this dollar coin storage game. The ONLY problem that exists is in giving folks a "choice". Eliminate the "choice" and start saving some money. They save money either way (eliminate the coin or eliminate the bill) but ONLY one will actually "save" money in the long run.

 

I read about this on yahoo the other day. Its a great way to get them circulating, but its also stupid they are using it for free flights